Manager, Price Risk Management
World Fuel Services
Houston, TX 77056
Description
At World Kinect, our employees are the key to our global success. We are industry leaders due to the innumerable talents of our approximately 5000 strong professional team. Our people thrive in an entrepreneurial and culturally-diverse environment, where innovative thinking, collaboration and efficient execution are highly valued. Our high-performance culture is what allows us to drive sustained growth. Stronger together, we promote an environment where individuals can thrive.
Manager - Price Risk Management Programs
This position is a key role for the Price Risk Management Team. The responsibility of this role is to have a focus on accurately assessing all costs related to quoting a fixed forward as well as forming a point of view on forward markets to make the best decisions to mitigate price risk on behalf of WFS. Role will work collaboratively with Supply team and Sales team and be the decision maker for correct supply source for each deal and then execute appropriate trades to cover defined risks within the Delegation of Authority granted.
The position requires detailed understanding of the following areas:
- Supplier options and locations within the US. (Collaboration with regional supply managers is key for ongoing success.)
- Understanding of the major suppliers in the core locations for our bulk, inventory and B2B supply activities.
- A complete understanding of the primary distribution system including the distribution economics, for each supply system and our current inventory and potential inventory locations.
- A complete understanding of financial hedge partners and the credit positions we have open to trade.
- Complete understanding of hedging and all associated risks (supply, basis, flat price, performance, credit, etc.) that must be captured and tracked throughout the life of each deal.
- A view on the wider market - what is occurring across supply and demand
- Understanding our Price Risk Management overall vision and strategy and working as a key member of that team.
The position requires the following skills:
- 5+ years of relevant experience in oil industry, gasoline & diesel fuels (such as sales, scheduling, market analysis, trading) or commodity trading
- Strong understanding of US refined products pipelines, terminals, and distribution methods preferred
- Good written and oral communication. Ability to present complex concepts to sales team and customers in a manner that is clearly understood.
- Detail oriented and organized approach to deal capture.
- A focused individual who can translate what is happening in the market to execution of decisions for the portfolio
- Team player who is focused on overall profitability of the portfolio by facilitating optimization of our supply options, swap options, and all related risk factors to realize maximum long-term profitability.
- Ability to maintain respect, credibility and trust with customers, internal stakeholders, and hedge partners.
- Understanding of the downstream oil industry to support sales efforts
- Communication internally with the teams supporting this role are critical
- A network of contacts to rely on for market intelligence to be proactive to potential market impacts to portfolio (refinery work, weather disruptions, key economic impacts to demand, etc.)
- Detailed understanding of exposure and exposure management
Daily Tasks:
- Support daily price indications
- NYMEX hedging to support cash trading team
- Ability to build quotes on new deals by gathering all relevant factors from key stakeholders
- Provide back up to Director for business travel and PTO
- Working with Sales to grow portfolio of clients for program
- Working with Operations to manage compliance on FFP deals and escalating to Director for renegotiation on any under liftings.
- Trade entry – same day on new deals, liftings on third party deals as data is available
- Collaboration with Market Risk and Scheduling to keep P&L as clean as possible – includes periodic review of MTM foundation, timely scheduling of trades, management of position rolls, ongoing basis analysis for bulk and rack exposure)
- Managing open basis risk and market structure and taking market action as needed
- Working with Market Risk to maintain current basis analysis critical to deal quotes.
- Assist in identifying future risks to portfolio (supply disruptions that could create basis blowouts, weather patterns that could disrupt supply or demand, etc. and look for ways to mitigate that risk
What does success look like:
- Sales Team looks up to this person and seeks advice for decisions as well as collaborative sales calls to cross sell the program
- Clear and accurate P&L and Exposure reporting
- Growth of Price Risk Management portfolio – volume and GP
- Metrics
#WFS
World Kinect is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.Interested in this job?
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