What are the responsibilities and job description for the Physical Oil Trader - Vice President position at JPMorganChase?
Job Description
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
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans
About The Team
J.P. Morgan’s Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.
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.
- 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.
- 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.
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans
About The Team
J.P. Morgan’s Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.