Nurses & Traders @ Boedouex Mutinational UNLTD

Trader
Location: Lagos
Department: Trading
Directly Reports to: Trading Manager
Indirectly Reports to: CEO
JOB SUMMARY

• The primary responsibility of the Trader is to act on behalf of clients to buy and sell physical commodities (including PMS, AGO,DPK).
• The Trader is also be responsible for managing risk through the use of various hedging strategies including derivatives (futures and options) that are based on those physical commodities.
• In addition, the Trader sources comprehensive market research (both supply and demand) that provides the Company with required information for developing short- and long-term strategic marketing plans covering origination, marketing and to some extent, wholesale product delivery to clients.
• The Trader serves as an executive accountable for designing, recommending and implementing effective marketing and sales strategies and policies that target potential markets and customers for products and services. He/she is responsible for growing business volumes with existing customers.
• Trade budgeting and performance monitoring and reporting are also key responsibilities of the role. The role is responsible for tracking (and/or developing), managing and reporting on transaction economics per trade.
• He/she will maintain a very close working relationship with the Legal, Finance and Operations Departments to ensure a seamless process is worked in executing all trade contracts.
• The role supervises and ensures the provision of comprehensive and detailed market, supplier and customer data, as well as relevant, accurate and prompt analysis and recommendations required for planning, and trading decisions.
• Finally, the position incumbent represents the company's interests in business expansion plans and decisions, and in presentations and meetings related to the promotion, development, funding, delivery and evaluation of trading activities within approved policy and authority limits.

SPECIFIC RESPONSIBILITIES
Strategic

• Acts as marketing strategist providing needed support to the Trading Manager, management and Board.
• Co-develops the long- and short-term business growth objectives and policies of the companyand provides guidance/advice to the Trading Manager, Management and Board about all proposals concerning major market development and trade transaction policies.
• Supports the Company's strategic planning and budgeting processes with comprehensive data (including but not limited to market share performance metrics; industry/sector, supplier, customer and competitor information) and other relevant business information and ideas; makes appropriate recommendations to the Trading Manager & Management.
• Identifies new business opportunities in the global Oil & Gas commodities market and validates the financial potential of these opportunities, sets reasonable objectives and helps determine trading and operations resource requirements.
• Expands the Company's outreach activities and referral networks, and ensures effective alliances/ commercial partnerships (e.g. with Suppliers) are forged that facilitate long-term business growth.
• Oversees the recruitment, performance, training, career development, welfare and motivation of junior team members.

Operational

• Leads the formulation and execution of the company's corporate level business development and market penetration strategies for enhancing business growth; implements marketing strategies and policies to target potential markets for products and services, customer retention and for growing volumes of business within existing markets and current customers.
• Reports on variances and develops actions to address any gaps to ensure the Company remains on track to achieving overall Company goals; also ensures the provision of timely, comprehensive and accurate business reports that support decision-making processes.
• Builds strong and value-adding relationships with commercial partners and represents the company's to the external business and trading community through effective communications, participation in workshops and other events.
• Oversees the day-to-day management of the Trading portfolio and is responsible for the financial results of the portfolio; effectively monitors the Department's business plan and budget.
• Oversees the day-to-day activities of Junior Traders/Trade assistants and also oversees their professional and career development.
• Manages the origination, closing and contract administration of large scale, seasonal, long-term positions; prepares bid documents for products traded.
• Runs the Crude, PMS, AGO, DPK and Jet A1 trading desks – identifies cost effective supply sources, approves all trades ; procures products and brings them into the market for delivery to customers; ensures all processes/procedures are effective and customer service focused.
• Manages the Department's budgeting activities to ensure the annual budget adequately reflects periodic resource requirements, revenue estimates and required margins for the business.
• Develops and implements effective decision-making and monitoring systems, processes, procedures and policies which provide effective controls in the execution of trades.
• Determines terms of trade (e.g. C&F, FOB).
• Analyses and reacts to market trends through fundamental and technical market analysis; reacts to current market conditions through bidding, trading and the use of hedging strategies to maximise profits while effectively reducing the uncertainty and exposure the company faces in the conduct of trades.
• Understands the impact of world events on market dynamics.
• Provides and interprets global market and product data, towards identifying excessive exposures and creates appropriate hedging/risk mitigation strategies that enable the profitable execution of daily trades; manages the ongoing volatility and the impact of the various energy markets and works to eliminate downside risk without reducing the upside potential on trades; effectively manages price volatility and profits per transaction.
• Interacts with various market stakeholders to develop, negotiate and execute opportunistic business transactions; works closely with finance and operations teams to help the company.
• Identify and take advantage of market inefficiencies, efficiently execute trades and ensure high levels of customer satisfaction are attained.
• Develops and maintains excellent relationships with key suppliers, customers and regulatory officials and works with, and through, them to determine future product requirements and how the company's support supplier & customer needs while complying with required regulations.
• Reports known contraventions of statutory regulations and Company policy to the Trading Manager.
• Performs other assigned duties as delegated by the Trading Manager from time to time.

KEY PERFORMANCE INDICATORS

• Effectiveness of planning; proactivity and speed in reacting to the markets
• Effectiveness of bidding efforts/no. & value of contracts won/lost
• Ability to source quality products at the right price to fulfil contract obligations
• Trade volumes from existing markets & customers
• Growth in trade volumes from new markets & customers
• Customer satisfaction levels
• Effectiveness/adequacy of risk management strategies deployed
• Revenues
• Margins
• PBT
• Staff satisfaction levels
• Ability to develop junior traders
• Process effectiveness & efficiency across the supply chain

QUALIFICATIONS & EXPERIENCE

• 1^st degree in Mathematics, Chemistry, Chemical Engineering is compulsory
• 1^st class or 2:1 is compulsory
• 0 – 3 years work experience, preferably in a technical or commercial role.

PREFERRED KNOWLEDGE & SKILLS

• Oil & Gas Industry Dynamics & World Markets
• Global Energy Trading Markets
• Business Development & Marketing Strategy Execution
• Commodities Trading (Oil & Gas Products)
• Physical Products Trading
• Risk Management/Hedging Strategy Development and Execution
• Networking & Relationship Management
• Risk Management
• Negotiation
• Business Performance Monitoring and Reporting
• Basic knowledge of Business Finance
• Initiative & a Keen/Acute Sense of Judgment, Decisiveness and Self-Discipline
• Creativity & Innovation
• Leadership/Supervisory
• Political Savvy
• Teamplaying
• Oral & Written Communication

Opening date: 26 Nov 2012 12:00 AM W. Central Africa Standard Time
Closing date: 30 Oct 2013 11:55 PM W. Central Africa Standard Time
Method of Application: Send your resume to [email protected] using your name & phone number as subject.