What are the responsibilities and job description for the Physical Oil Trader - Vice President position at JPMorgan Chase?
The commodities team collaborates and partner across Origination, Risk, Logistics, Legal, and Middle/Back Office to drive commercial outcomes and control performance.
Job Summary
As a Vice President in the Commodities Oil Trading team, you will own market exposure, pricing, and the economic performance of structured and physical positions. You will ensure all trades are optimized, appropriately hedged, and compliant with risk limits.
Job Responsibilities
- Support origination by developing full transaction economics, pricing, and hedge structures.
- Define market-risk management strategies across futures, swaps, and differential hedging.
- Contribute to commercial term drafting that affects pricing, title transfer, incoterms, and exposure mechanics.
- Set and validate product pricing differentials relative to the index used for hedging.
- Execute and manage hedges; monitor and optimize daily position exposure.
- Track P&L drivers, valuation changes, and risk metrics; escalate exceptions per policy.
- Review and update product differentials as market conditions evolve.
- Coordinate closely with Logistics on delivery windows, quality specs, and timing.
- Communicate market insights, performance drivers, and risk positioning to stakeholders.
Required Qualifications, Capabilities and Skills:
- Proven experience in physical oil trading (crude and/or refined products) with direct responsibility for P&L and risk.
- Expertise in derivatives hedging (futures, swaps) and differential structures.
- Strong command of pricing mechanics, location/quality differentials, and exposure measurement.
- Demonstrated ability to interpret and negotiate commercial terms that affect risk and economics.
- Proficiency with trading and risk systems; advanced Excel; comfort with data analysis.
- Excellent communication and cross-functional collaboration skills.
- Operate within limit frameworks and adhere to all policies, procedures, and regulatory requirements.
- Ensure accurate, timely trade capture, confirmations, and reconciliation.
- Uphold highest standards of conduct, compliance, and control rigor.
Preferred Qualifications, Capabilities, and Skills:
- Experience coordinating terminal/transport logistics and scheduling.
- Familiarity with regional benchmarks and price reporting agencies.
- Programming or analytics skills (e.g., Python) a plus.
- Relevant degree in Finance, Economics, Engineering, or related field.