Senior Market Risk Analyst – Gas

What’s The Role

Shell Energy is at the heart of delivering Shell’s ambition to become a world‑class investment case that powers progress by providing a diverse array of cleaner energy solutions. Shell Energy is an exciting, fast‑moving business – and a key driver in being able to fulfil that ambition.

The Market Risk professional will be based in London, working closely with the trading organisation. The Gas Market Risk Team is responsible for understanding the European gas markets, and trading strategies employed by Shell Energy – Europe & Africa (SE‑EA) gas as well as modelling the various complexities and optionality within the gas portfolio. The purpose of the role is to independently identify, measure, and report on the level of risk from new business proposals, material contracts, and trading market conditions to advise the commercial teams on mitigation strategies and risk appetite. The role will provide risk assessments and insights to senior management while collaborating with and providing market specific information and advice to others in the global Finance and Risk Management organisation. The Gas Market Risk Team will provide an independent view as to whether the organisation is receiving appropriate compensation for the risk they are taking. The role works closely with risk leads for all parts of the risk management spectrum, as well as Front Office, Finance, Valuation, Compliance, and Back Office.

What You’ll Be Doing

• Develop a close partnership with the gas trading business to support new deals and appraise trading activities to ensure adherence to mandated exposure and risk limits.
• Independently assess and report on market risks arising from trading activities, structured deals, and new business proposals.
• Execute and enhance risk metrics and controls tailored to the gas portfolio.
• Provide input on valuation models, including non‑linear products such as options, swing contracts, and storage.
• Work with the Valuation and Quantitative Analytics teams to understand and model embedded physical optionality and how optimisation of physical portfolios changes exposures.
• Accelerate digitalisation and automation to smooth the flow of information across the business and to remove manual tasks.
• Provide independent advice and guidance on the level of risk/return in the business and whether this is congruent with the agreed level of risk appetite.
• Ensure timely and accurate execution of SOX and key non‑SOX controls for the business area and collaborate with other functions to ensure continuous improvement of controls/processes.
• Continue to develop fair economic value (FEV) principles, whilst ensuring consistency with the global T&S Risk Management policies.

What You Bring

• Capable of being independent from front office; able to objectively analyse and report risks and exposures. Regularly engage in discussion with traders and management about exposure taken and resultant P&L.
• Strong stakeholder engagement skills, having the self‑confidence to challenge traders on deals, valuations, positions, limit mandates.
• Excellent communication skills: the role will require writing reports and policies and presenting analysis and insights to senior stakeholders.
• Experience with complex physical options valuation, including Gas Storage, transport, swing, diversion options.

Preferred Qualifications

• Preferred degree in Business, Economics, Mathematics, Science, Engineering or IT; other degrees will be considered with relevant workplace experience in the energy trading industry. Advanced degrees a plus.
• Thorough understanding of financial, commodity and energy markets; derivative instruments and hedging techniques.
• In depth knowledge of the gas, biogas and LNG trading, European pipeline/storage infrastructure, gas fields, and an understanding of the fundamental economics and pricing mechanisms of regional gas and LNG markets.
• An understanding of the interdependencies with other asset classes, such as power, carbon and oil – and a good grasp of wider economic/geopolitical risk factors.
• Substantial experience within a trading and risk management organisation, including a strong understanding of trading, operations, risk, compliance and mid/back office business processes, policies, procedures and controls.
• Learner mindset; innovative and creative, excellent problem‑solving capabilities.
• Technologically oriented; ability to use new technologies to enhance existing controls, processes, and offer detailed trading insights.

What We Offer

• Progress as a person as we work on the energy transition together.
• Continuously grow the transferable skills you need to get ahead.
• Work at the forefront of technology, trends, and practices.
• Collaborate with experienced colleagues with unique expertise.
• Achieve your balance in a values‑led culture that encourages you to be the best version of yourself.
• Benefit from flexible working hours, and the possibility of remote/mobile working.
• Perform at your best with a competitive starting salary and annual performance related salary increase – our pay and benefits packages are considered to be among the best in the world.
• Take advantage of paid parental leave, including for non‑birthing parents.
• Join an organisation working to become one of the most diverse and inclusive in the world. We strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation, and life experiences to apply.
• Grow as you progress through diverse career opportunities in national and international teams.
• Gain access to a wide range of training and development programmes.

Shell is working to advance an inclusive, psychologically safe and accessible environment where people with disabilities can excel. If you require any accommodations or accessibility adjustments (e.g. assistive technology, communication support, any other) during the application or interview process, please let us know directly via careers@shell.com. We strive to ensure that our process and workplace is accessible to everyone and are dedicated to making reasonable adjustments to support your needs.

Shell in the United Kingdom

Shell UK remains one of the North Sea’s biggest producers, supplying around 10% of the UK’s total oil and gas needs. But perhaps the most recognisable face of Shell in the UK is our network of over 1,000 Shell‑branded service stations.

In the years ahead, as the UK looks to strengthen energy security and deliver its 2050 net‑zero goal, Shell UK aims to play a crucial role. We aim to be a major investor in the UK energy system by helping our customers decarbonise with a focus on transport and industry.

Shell is a vital contributor to the UK, supporting energy security, jobs and economic value. We provide energy to fuel homes, hospitals, schools, vehicles, machinery and factories. Our history here dates back over 125 years. A UK‑headquartered global energy leader, and leading FTSE multinational, we are active across the country’s energy system.

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