Junior Pricing Analyst

Come work at a place where innovation and teamwork come together to support the most exciting missions in the world!

When you join EDF Trading you’ll become part of a diverse international team of experts who challenge conventional ideas, test new approaches and think outside the box.

Energy markets evolve rapidly so our team needs to remain agile, flexible and ready to spot opportunities across all the markets we trade in: power, gas, LNG, LPG, oil and environmental products.

EDF Group and our customers all over the world trust that their assets are managed by us in the most effective and efficient manner and are protected through expert risk management. Trading for over 20 years, it’s experience that makes us leaders in the field. Energy is what we do.

Most of all, we value our people. Become part of the team and you will be offered a great range of benefits which include hybrid working, a personal pension plan, private medical and dental insurance, bi-annual health assessment, corporate gym memberships, electric car lease programme, childcare vouchers, cycle to work scheme, season ticket loans, volunteering opportunities and much more. We even provide free fruit to keep you healthy.

Gender balance and inclusion are very high on the agenda at EDF Trading so you will become part of an ever-diversifying family of around 800 colleagues based in London, Paris, Singapore, Tokyo and Houston. Regular social and networking events, both physical and virtual, will ensure that you always feel connected to your colleagues and the business.

Who are we? We are EDF Trading, part of the EDF Group, a world leader in low-carbon sustainable electricity generation partnered with JERA, one of Japan’s largest utilities; the perfect organisation at which to begin or progress your career in the commodities sector.

Join us, make a difference and help shape the future of energy. 

Job Description:

Department

European Pricing and Structuring Desk

The desk is part of the Front Office with a direct reporting line to the CCO. It sits alongside the origination and trading teams providing wide structuring, valuation, and deal approval support for complex transactions and business development initiatives. 

We also support management and traders in live portfolio management including risk exposure representation and management.

The function covers market derivatives and asset-based structures on all commodities traded by EDFT and its affiliates in liquid and illiquid horizons. 

The function work closely with commercial and control functions to execute profitable deals that meet the company’s required rate of return, capital utilisation criteria, in compliance with EDF group risk policies.

Position

This is a Junior Pricing Analyst role in Pricing and Structuring Team with the main responsibility of valuing flow and structured commodity deals in the energy markets. This involves:

• understanding of commercial terms of deals including financial derivatives and real options contracts
• defining complete deal payoffs, formulating a problem, and proposing and developing an appropriate valuation approach
• carrying out data analysis and developing pricing models and valuation tools
• pricing and informing on the results of valuation in the context of a hedge strategy
• presenting and communicating own work in a structured manner to your manager or internal customers

Other duties and responsibilities as may arise and may be assigned by Management, this may include bespoke analysis, tool/model development for special projects, and development of library, user interfaces and data infrastructure.

Main Responsibilities

To support Origination team in structuring, valuation, approvals and execution of deals which maximise EBIT and minimise non-market risk exposure.

To provide high standard analytics and valuation services in support of execution of EDFT’s business strategy and growth ambitions, in the areas of:

• Structured flexibility products
• Global gas and oil flow hedging
• Renewable generation hedging
• Emissions and Green Fuels
• EDF risk management and market access service including facilitation of group hedging and optimisation of LNG, storages, power generation assets or liquidity products

To contribute to development and enhancement of mathematical pricing models and analytical tools to support data processing, valuation, risk management and trading, optimisation and cashflow modelling.

Candidate Profile

This role is a junior role within an existing team and may suit someone at the early stages of their career looking to specialise in pricing and structuring or setting foundations for a future career in origination and trading. 

Interest or experience in the energy commodity markets and trading industry are required.

The role would be best suited for an individual with a strong applied quantitative background and technical (programming) skills with commercial mindset.

The candidate would offer:

• Bachelors (or higher) degree in mathematical finance, economics, engineering, mathematics or a related discipline
• Understanding of financial metrics
• Understanding of energy market fundamentals and physical constraints.
• Understanding of risk, both market and residual risks
• Understanding of derivative instruments and their pricing methods
• Practical modelling skills
• Enthusiasm for problem-solving and drive for detail and delivery
• Positive team player attitude
• Good communication and interpersonal skills

Example deal types dealt with by the group include forwards, futures, swaps, options, basket non-linear products and path dependent payoffs

Technical Skills

Required technical experience and knowledge includes:

• Ability to use maths to solve business problems
• Familiarity with basic corporate finance and accounting concepts
• Financial engineering (pricing algorithms, calibration methods and statistics)
• Microsoft Office
• Computer programming skills (Python, MATLAB, VB) - applied to data processing, mathematical modelling, web tools development

Personal skills

It is a multifaceted role, which requires a combination of commercial mindset and technical skills.

It is service based so communication and client facing skills are essential as you would be responsible for liaising with originators and traders as well as regularly collaborating with other pricing team members and other support functions.

The essential personal skills include:

• Curiosity and willingness to learn
• Determination and commitment to deliver high quality service
• Attention to detail and work ownership
• Integrity and accountability
• Efficiency - working to deadlines in a fast paced environment
• Excellent team player

Hours of work

• 40 hours a week