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SalaryThis role required candidate to permanently relocate at Dhahran, Saudi Arabia.
About the Company
This company engages in the exploration, production, transportation, and sale of crude oil and natural gas. It operates through the following segments: Upstream, Downstream, and Corporate. The Upstream segment includes crude oil, natural gas and natural gas liquids exploration, field development, and production. The Downstream segment focuses on refining, logistics, power generation, and the marketing of crude oil, petroleum and petrochemical products, and related services to international and domestic customers. The Corporate segment offers supporting services including human resources, finance, and information technology. The company was founded on May 29, 1933 and is headquartered in Dhahran, Saudi Arabia.
Job Summary
We are seeking an Interest Rate and FX Hedging Specialist to join the Credit and Market Division of the Financial Risk Management Department at This Company. The Interest Rate and FX Hedging Specialist is responsible for analysis, monitoring, and hedging of these market risks within the group. Additionally, experience with commodity risk hedging will be preferred. The successful candidate will assess market risk exposures, perform quantitative and qualitative analysis on positions and risks of the respective portfolios, and report the findings to risk management and to key areas of the Company. The specialist will interface with various internal departments, including compliance, finance, operations, and the trading desk, and also with other subsidiaries and joint ventures of the group.
Key Responsibilities:
- Analyze and quantify interest rate, foreign exchange (FX), and commodity risk exposure of the group and propose hedging strategies to mitigate such risks.
- Understand and report on market risk dynamics of the specific portfolio, including key drivers impacting prices, volatility, and values, and their prospective impact on risks and earnings.
- Ensure accuracy and consistency in defining and updating volatilities, market prices, forward curves, correlations, and other key valuation components.
- Assist in setting up, configuring, and implementing hedging of market risks and related risk analytic systems.
- Ensure that new business transactions and related risks are appropriately defined and captured by the Company's risk systems and methodologies.
- Analyze risks/return related to new business and markets, liaising with business functions to ensure constituent market risks are understood, appropriate to risk appetite, correctly reported, and, if necessary, hedged.
- Monitor positions against market risk metrics and limits, collaborating with business functions and risk control regarding potential limit exceedance.
- Conduct stress testing on various portfolios to identify and mitigate unwanted exposure.
- Review policies and procedures, aligning risk policies across the Group.
- Willingness to relocate to Dhahran, Saudi Arabia.
- Hold a Bachelor's Degree in Finance, Economics, Mathematics, Engineering, or a related field. An MBA or other advanced business degree is preferred.
- Strong preference for a professional certification such as CFA, FRM, or PRM.
- Possess at least 10 years of experience in financial markets risk management within a corporate or bank environment.
- Experienced in developing, implementing, applying, and overseeing financial markets risk models, hedging alternatives, pricing, and hedge execution strategies.
- Prior knowledge and experience with trading concepts, derivative instruments, ISDA agreements, hedge accounting, and operations.
- Advanced proficiency in Excel.
- Capable of coaching junior analysts in developing their analytical skills and reporting capabilities.
