What’s the role?
Shell Trading and Supply is the world’s largest energy trading business and operates in every major energy market around the world. It supports the Shell group businesses by trading natural gas, electrical power, crude oil, refined products, biofuels, chemical feedstocks, freight, and environmental products. Shell Trading and Supply also manages one of the world's largest fleets of liquefied natural gas carriers and oil tankers and provides maritime expertise and logistics to Shell companies and external customers. Our aim is to create value for Shell’s shareholders, customers and counterparties across the globe by forging successful partnerships that generate mutually beneficial commercial opportunities.
The Quantitative Risk team is responsible for researching, implementing, prototyping, and supporting risk management metrics, models and systems. The primary role for this position is to create innovative risk solutions to assess risk/reward of the portfolio, including asset pricing models, Monte Carlo simulation VaR, scenario stress testing, liquidity analysis, gross margin at risk as well as to analyze daily and real-time market information for an industry leading energy trader.
The Senior Quantitative Risk Analyst reports to the Head of the Quantitative Risk and would collaborate equally with counterparts across various global locations therefore candidate will need to be comfortable with working independently with limited supervision at times and be able to thrive as part of a global team with members in the US, UK, Netherlands, India and Singapore.
The successful candidate must be results-oriented, self-motivated and can thrive in small teams and very fast-paced environments. This role requires collaborating and providing advice to others in the global Risk organization which includes Market Risk Advisors, Market Risk Operations, Valuation, and Model Validation as well as some analysts in the commercial organization. The candidate must have the ability to work independently, excellent communication and organizational skills, and exceptional quantitative, modelling and coding skills.
We are interested in attracting people to our business who share our core working values of honesty, integrity and respect for others. We also want those who can build on our business vision, are prepared to accept accountability and can achieve great results through teamwork.
- Drive the design, development, and implementation of quantitative solutions to assess risk/reward of the portfolio, including Monte Carlo simulation VaR, parametric VaR, VaR back-testing, scenario stress testing, liquidity analysis, gross margin at risk, forward curve modeling, etc.
- Develop, calibrate, backtest, and maintain asset pricing models to assess the fair economic value of non-standard physical optionalities, such as LNG diversion optionality, renewable assets, tolling agreement, natural gas or battery storage, and other structured energy products.
- Engage in innovative research tasks for the team and risk management such as designing methodologies to quantify risks that lie outside of our current established risk metrics.
- Work with the market risk and valuation team to interpret and analyze complex risks of the business portfolio, including long-term structured contracts, to determine the appropriate modeling to ensure accurate valuation and risk assessment. Apply Monte Carlo simulation or close-form solutions to value complex structured deals.
- Develop tools for ongoing portfolio reviews and producing deep-dive analyses for senior management. Well-presented analysis with key assumptions clearly explained will enable the analyst to work closely with key senior stakeholders in the Trading and Supply business.
- Investigate and manage large data sets, ensuring consistency and quality. Build tools to enable the data to be easily accessed by analysts across Risk. SQL, SAS, and Python are the preferred languages for accessing and manipulating datasets within Shell.
- Support digitalization and automation to smooth the flow of information across the business and to remove manual tasks.
- Support the development and validation of risk management systems and reports. Shell’s roadmap is to use big data, machine learning, and real-time analytics to make the Trading and Supply business continue to be a success for the decades to come.
- Provide detailed analysis and documentation of methods, techniques, and findings. Well-documented processes enable team members to build new achievements upon earlier work.
What we need from you
- Must have legal authorization to work in the US on a full-time basis for anyone other than current employer
- Postgraduate/Advanced Degree (MS/PhD) in financial engineering, mathematical finance, economics, statistics, operation research, engineering, or similar.
- Experience in a quantitative risk role within a financial or energy trading organization (3+ years or equivalent), preferred with a fundamental understanding of trading, risk, and financial modeling, derivative instruments, and hedging techniques.
- Excellent quantitative skills and knowledge in statistical methods, operations research, Monte Carlo simulation technique, and numerical methods required. Strong foundation in the valuation of derivative products including forwards and futures contracts, simple and exotic options.
- Modeling capabilities for structuring energy transactions such as physical and financial wholesale commodities, natural gas storage assets, heat rate options, power transmission, and renewable energy solutions is a plus.
- Experience in scripting languages which enable data gathering and transformation such as Python, SAS, or Matlab.
- Experience retrieving datasets from structured databases using SQL / Oracle, and familiarity with various ETRM trading systems such as Endur, ZEMA, etc.
- Intermediate to Advanced Excel skills; such as pivot tables, lookups, and VBA macros.
- Ability to work under pressure, formulate and articulate solutions, and defend assumptions
- Ability to solve real-world business problems using quantitative and computational techniques
- Reliable, dependable, and disciplined. Excellent attention to detail, methodical, organized.
- Resilient when working under pressure, with the ability to prioritize tasks to meet key deadlines.
- Good judgment to provide advice, question discrepancies, and escalate issues.
- Continuous improvement mindset; utilizing tools to streamline and automate work to boost efficiency.
- Scientific mindset; identify, investigate, analyse, research, discuss, record, and resolve issues.
- Learner mindset; innovative and creative, excellent problem-solving capabilities.
The base salary range for this position in the United States is $113,000 - $169,000 per year. Individual pay will be based on various factors such as relevant work experience, education, certifications, skill level, seniority, and internal equity.
For regular full-time or regular part-time employees of the Company (participating companies as listed in the Summary Plan Description), insurance coverage options include medical, dental, vision coverage, life Insurance, Business Travel Accident Insurance, and Occupational Accidental Death Benefit programs. Employees also participate in a company pension plan and a 401(k) plan. Paid leave includes up to 6 weeks of paid vacation time, up to 11 paid holidays, and parental leave offering 16 weeks of paid leave to birthing mothers, and 8 weeks of paid leave for non-birthing parents. Additionally, employees are eligible for disability leave for up to 52 weeks at 100% or 50% of base pay. Shell also offers other compensation such financial reimbursement for adoption, wellness, education, and personal learning expenses, and some roles are eligible for discretionary long-term incentives. For interns, eligible benefits include medical, dental, and vision coverage, life insurance, Business Travel Accident Insurance, and Occupational Accidental Death Benefit programs; participation in a 401(k) plan; and paid leave for up to 11 paid holidays. Additional information on Shell’s US benefit programs can be found at https://www.shell.us/careers/about-careers-at-shell/rewards-and-benefits.html
An innovative place to work
There’s never been a more exciting time to work at Shell. Everyone here is helping solve one of the biggest challenges facing the world today: bringing the benefits of energy to everyone on the planet, whilst managing the risks of climate change.
Join us and you’ll add your talent and imagination to a business with the power to shape the future – whether by investing in renewables, exploring new ways to store energy or developing technology that helps the world to use energy more efficiently.
An inclusive place to work
To power progress together, we need to attract and develop the brightest minds and make sure every voice is heard. Here are just some of the ways we’re nurturing an inclusive environment – one where you can express your ideas, extend your skills, and reach your potential.
- We’re creating a space where people with disabilities can excel through transparent recruitment process, workplace adjustments and ongoing support in their roles. Feel free to let us know about your circumstances when you apply, and we’ll take it from there.
- We’re closing the gender gap – whether that’s through action on equal pay or by enabling more women to reach senior roles in engineering and technology.
- We’re striving to be a pioneer of an inclusive and diverse workplace, promoting equality for employees regardless of sexual orientation or gender identity.
- We consider ourselves a flexible employer and want to support you finding the right balance. We encourage you to discuss this with us in your application.
A rewarding place to work
Combine our creative, collaborative environment and global operations with an impressive range of benefits and joining Shell becomes an inspired career choice.
We’re huge advocates for career development. We’ll encourage you to try new roles and experience new settings. By pushing people to reach their potential, we frequently help them find skills they never knew they had, or make career moves they never thought possible.