Distillates Trader

**Main Purpose**:Global trading and risk management, covering Fuel & Distillates risk and paper arbitrage to optimise profit around Trafigura’s system, as well as analytical reporting responsibilities.

To identify structured GOFO (Global Distillates and Fuel Oil) trades, and create paper trading strategies around arbitrage moves.
**Knowledge Skills and Abilities, Key Responsibilities**:

- At least 6 years experience working on a global distillates or fuel oil business
- Proven record of achievements in physical and paper activity in Middle Distillates and Fuel Oil
- Very strong knowledge of the physical trade lifecycle, global arbitrage and its impact on the paper markets
- Expert on the derivatives markets including but not limited to; futures/forwards, swaps and options
- Experience managing large risk positions (dVAR of approx. $3m or equivalent)
- Understanding of refinery economics and processes & specific European refining systems and demand
- Experience working in an oil major or producer environment
- Proven experience in building econometric trading models, whilst optimising existing analytical systems
- Abiltiy to manage and mentor junior employees when required
- Degree level (or equivalent) engineering, economics or business qualification. Minimum grade 2:1

**Key Relationships and Department Overview**:
**Key Responsibilities**
- Development, negotiation, and conclusion of clean oil products trades (Middle Distillates & Fuel Oil) in line with the company global strategy with a strong focus on paper
- To maximise P&L profit through development and execution of paper trading strategies focusing on:

- Vanilla swaps, futures/forwards and options
- Development of mean reversion strategies
- Development of cross-desk margin strategies
- Review and improve our structured GOFO trades
- Systematic trading strategies around arbitrage moves
- Deep focus on the European market, and knowledge of market flows that impact paper and physical pricing
- Develops and maintains business relations with key counterparties and market players i.e. producers, refiners, traders and end-users to keep abreast of market developments and opportunities

**Competencies**
- Excellent communication skills and the ability to multitask in a high pressure environment.
- Action oriented
- Manages complexity
- Demonstrates financial acumen
- Capacity to build networks

About Us
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. At the heart of global supply, Trafigura connects the world with the vital resources it needs. Through our Oil & Petroleum Products, Metals and Minerals, and Power and Renewables divisions, we deploy infrastructure, skills and a global network to move commodities from where they are plentiful to where they are needed most, forming strong relationships that make supply chains more efficient, secure and sustainable.

Trafigura also owns and operates a number of industrial assets including a majority share of global multi-metals producer Nyrstar and fuel storage and distribution company Puma Energy; and joint ventures Impala Terminals, a port and logistics provider, and Nala Renewables, a power and renewable energy investment and development platform. With over 1,000 shareholders, Trafigura is owned by its employees and employs over 13,000 people working in 48 countries.