About the Role
SOCAR Trading is looking for a Middle Officer to join its Middle Office team in London. This role will support the daily risk management of trading books, working closely with traders and key internal stakeholders to ensure accurate profit and loss, exposure, position and price reporting across physical and paper trading activity.
The successful candidate will develop a strong understanding of the books under their responsibility and act as a reliable point of contact for traders, supporting robust controls, accurate reporting and continuous improvement across Middle Office processes.
Key Responsibilities
- Review post-deal P&L, perform variance analysis and investigate trading P&L estimates.
- Produce daily commentary explaining changes in trading profit and loss.
- Prepare daily and monthly P&L, price, exposure and position reporting for trading desks, covering physical and paper positions.
- Monitor trade input, positions, costs and estimates, escalating any issues in line with the management and risk framework.
- Analyse exposure, VaR and mark-to-market profit and loss across physical and derivative portfolios.
- Understand contractual risks and their impact on physical deliveries and hedging strategies.
- Control and validate forward curves, premiums and market data inputs into the ETRM system.
- Support Front Office and Financial Accounting reconciliation processes.
- Work with IT, Back Office, Operations, Front Office, Internal Control and other stakeholders to improve data accuracy, reporting, automation and controls.
- Contribute to efficiency and control projects across the Middle Office and Risk agenda.
Candidate Profile
- Bachelor’s or Master’s degree in a scientific, mathematical, engineering, accounting, economics or related discipline.
- 2-3 year experience, with at least a first experience in Middle Office, ideally within a commodity trading or risk management environment.
- Knowledge of physical oil markets, including crude, gasoline, naphtha, middle distillates or biofuels.
- Understanding of risk management concepts, exposure reporting, VaR, options trading and Greeks.
- Experience with ETRM systems; TPT experience would be an advantage.
- Strong analytical mindset with the ability to interpret market, position and P&L movements.
- Proficient IT skills, particularly Excel/VBA, SQL and BI tools such as Power BI or Tableau.
- Fluent English communication skills, with the ability to work effectively with traders and cross-functional teams.
What We Are Looking For
We are looking for a precise, proactive and collaborative individual who takes ownership of their work, communicates clearly and enjoys working in a fast-paced trading environment. The ideal candidate will combine strong analytical skills with attention to detail, curiosity and the ability to build trusted relationships with internal stakeholders.