Oando Nigeria Plc Recruits Graduate Junior Trader

Oando Nigeria Plc is seeking to employ a Junior Trader.

Vacancy Title:  Junior Trader

Department: Trading

Job Summary
The primary function and responsibility of the Trading Department is to act on behalf of clients to buy and sell physical commodities (including Crude Oil, PMS, AGO, DPK and Jet A1, Bitumen, LPFO, Base Oils, Chemicals and other specialty products). Traders are also 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 team 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 Junior Trader provides analytical, implementation and monitoring support to the Trading Department in ensuring the effective execution of marketing and sales strategies that target potential and existing markets and customers for products and services.  The position incumbent is responsible for transaction processing, documentation support and some level of involvement in the execution and monitoring of daily trades.

The role ensures the currency of market, supplier and customer data, and performs required analysis to identify potential risks and other business issues.  The Junior Trader also maintains a very close working relationship with the Legal, Finance and Operations Departments to ensure a seamless process is worked in executing spot and long-term contracts.

Specific Duties & Responsibilities

Operational

• Performs deal validation, analysis and problem identification for executed trades on a daily basis.
• Reports the daily position and P&L using approved reporting frameworks and reporting systems.
• Analyses and reconciles daily and month-end P&L information, and verifies data integrity.
• Performs position scenario analysis based on instructions and under the guidance of Senior Traders.
• Performs daily market surveys for price discovery with respect to next day trading.
• Updates market information on electronic trading systems at the instance of Senior Traders.
• Complies with approved decision-making and monitoring systems, processes, procedures and policies and ensures effective controls are adhered to in handling job duties; maintains the integrity of all transactions by analysing service provisions and agreements for compliance with regulations, federal and local legislation and contract terms.
• Supports the origination, closing and contract administration of large scale, seasonal, long-term positions; prepares draft bid documents for products traded and submits to the Head, BD & Trading or the Specialties Products Trader for review and approval.
• Key in trade details into the Trade Software and update throughout transactional cycle
• Checks and sends all the confirmations produced by the system to the counter parties
• Collects all incoming confirmations (both third party and returned confirmations) and checks and records against the Trading Book.
• Collects and checks brokers’ confirmations against the Trading Book contents each morning.
• Produces and checks trading invoices in association with the Senior Traders.
• Ensures all trade-related documents are scanned and filed in an organised and systematic manner for easy retrieval whenever needed.
• Sources and analyses global market and product data, towards identifying excessive exposures; identifies and raises issues to Senior Traders
• Acts as back-up to Traders.
• Performs other assigned duties as delegated by the Senior Trader.

Qualification & Experience

• Frist degree in Engineering, Finance, Investment Management, Business Administration, Economics or other related degree
• 0 - 2 years work experience within a reputable and structured organisation (financial institution, energy trading company etc.).
• Exposure to commodities trading activities is an advantage

Knowledge & Skills Required

• Basic understanding of Oil & Gas Industry Dynamics & World Markets
• Basic understanding of Energy Trading Markets
• Basic Commodities Trading (Oil & Gas Products)
• Basic Physical Products Trading
• Basic Finance
• Strong analytics
• Networking & Relationship Management
• Negotiation
• Business Performance Monitoring and
• Initiative & a Keen/Acute Sense of Judgment, Decisiveness and Self-Discipline
• Creativity & Innovation
• Political Savvy
• Teamplaying
• Oral & Written Communication

Application Deadline
8th February, 2012

How To Apply
Interested and qualified candidates should:
Click here to apply online

Note: We noticed that candidates try to login to the Oando career portal as if they are logging to their email portal with the email and password of their email addresses. Candidates must register first with Oando Career portal before application. if you have registered before, just login when the page opens, otherwise just click "Click here to Register" at the Oando Career Portal. Registration is free.