This position is based in Sydney and offers a hybrid working setting.

This is a rare opportunity to take ownership of second-line market risk oversight for a growing and dynamic commodities business. As a Manager within the Commodities, Trade & Transition (CTT) risk function, you'll sit at the intersection of risk discipline and commercial growth — partnering with front office, treasury, technology and finance teams to govern one of the most complex and fast-evolving asset classes in financial markets.

About the Role

You will lead market risk governance and independent oversight across physical and financial commodity trading activities spanning agriculture, energy, carbon, base and precious metals, and electricity markets. Your remit covers the full spectrum of risk governance — from designing and maintaining risk limit frameworks and stress testing programmes, to providing independent challenge on new trading strategies and advising senior stakeholders across governance forums.

This is a high-visibility role requiring both deep technical expertise and the confidence to engage and influence at a senior level. You will play a central role in ensuring trading exposures remain within risk appetite and that the control environment evolves in step with business growth.

Responsibilities

Risk Framework Design & Governance

- Design, implement and maintain robust market risk frameworks including risk limits, stress testing, scenario analysis, risk factor sensitivities and early warning indicators.
- Develop and refine risk policies and governance documentation, ensuring frameworks remain fit for purpose as the commodities business evolves.
- Contribute actively to risk governance forums, providing expert input on emerging risks and strategic risk considerations.

Independent Oversight & Challenge





- Provide independent oversight of traded market risk across physical and financial commodity portfolios, ensuring exposures are appropriately managed within approved risk appetite.
- Deliver independent challenge and expert advice to Front Office teams and senior stakeholders, supporting sound risk decision-making on new and existing trading strategies.
- Monitor and assess the adequacy of controls in place for commodity trading activities, identifying gaps and driving remediation where required.

Analytics, Valuation & Reporting

- Oversee valuation processes including commodity curve construction, volatility surface calibration and basis adjustments.
- Ensure best-in-class risk analytics and reporting capabilities are in place, leveraging risk systems and quantitative tools to deliver actionable insights.
- Design and oversee monitoring frameworks incorporating KRIs, KPIs, performance triggers and early warning indicators.

Stakeholder Engagement

- Build and maintain strong working relationships with Front Office, Treasury, Finance, Technology and other control functions.
- Communicate complex risk topics clearly and effectively to a range of audiences, from trading desks to executive governance committees.

Requirements

- Excellent tertiary qualifications in an Applied Mathematical or Financial discipline.
- At least 3 years' experience within the Market Risk domain.
- Sound understanding of both physical and financial commodity markets, including delivery logistics, storage, basis risk and operational risk considerations.
- Expertise in market risk metrics including VaR, stress testing, scenario analysis and risk sensitivities (Greeks).
- Experience designing and overseeing monitoring frameworks, incorporating KRIs, KPIs, performance triggers and early warning indicators.

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📌 Manager, Commodities Market Risk (New South Wales)
🏢 Bluefin Resources
📍 New South Wales