WHY CHOOSE ELEVEN
At Eleven, our knowledge of the oil trading, shipping and supply industry is born out of experience. Our parent company Ashley and Dumville, who put down roots in coal and coke sales during the 1880s, saw the family business diversifying into industrial oil trading and shipping in the 1950s, expanding into domestic oil trading and shipping in the 1970s.
This experience positioned us well to understand the needs and complexities of each submarket in the international trading arena and find the best in mid-level, senior management and C-suite professionals within the sector.
We know front office back to front, specialising in trading, origination, sales, derivative marketing and quant analytics. Our risk and finance team are highly skilled at matching candidates with roles in risk management, analysis, finance, compliance and legal, as well as refinery planning and optimisation. We work with candidates in chartering, trading operations, vessel operations and bunkering. To complement our activity in operations, we also represent roles in demurrage, claims and loss control.
Our portfolio of clients globally includes leading commodity trading businesses, IOCs, NOCs, refiners, tanker owners, brokers and investment banks, with a focus on London and Switzerland as well as Singapore, the Middle East and the US.
Get in touch with our specialist consultants to discuss your needs.

RECENT mandates
OIL TRADING
- Head of oil trading – Oil trading company
- Senior crude derivative marketer - Trading company
- Gasoline trader - National oil company
- Naptha trader - Refining and trading business
- North Sea crude trader - Trading company
SHIPPING
- Global head of shipping operations - Trading company
- Head of operations - Trading company
- Senior LPG operator - Trading company
- VLCC charterer - Tanker owner
- Term chartering manager - Tanker owner
- Specialised tanker charterer - Refining and trading business
- Senior distillates operator - Trading company
- Tanker operator - Ship owner
- Head of bunker trading - Bunker owner
- Bunker purchaser - Ship owner
RISK & FINANCE
- Head of risk - Refining and trading business
- Head of contracts - Refining and trading business
- Senior financial controller - Refining and trading business
- Senior trade finance executive - Trading company
- Senior crude market analyst - Refining and trading business
- Credit risk analyst - Trading company
- Operational risk manager - Refining and trading business
- Market risk manager - Trading company
SALES, SUPPLY AND STORAGE
- Managing director - Supplier to the industry, inspection
- Director of supply - National oil company
- Business development manager - Storage company
- Head of supply optimisation - Refining and trading business
OIL TRADING, SHIPPING AND SUPPLY OPPORTUNITIES
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Oil Operations – Process Improvement Analyst
Competitive
Gibraltar
This leading oil, supply and trading business is looking to hire an experienced oil operations expert to join their established office in Gibraltar. You will: Report to the Head of Operations, and be responsible for the continuous improvement, design, implementation and documentation of operations processes. Working closely with Operations Management, Operational Risk and IT to drive out process change through technical automation, you need to be organised and proactive with excellent communication skills, and an understanding of change management within the oil trading and bunker delivery process. You must be able to: Design, develop and document best practice operations SOPs Standardise and automate operations processes Drive operational improvements to CTRM system Be the operations point person for CTRM implementation Be the gatekeeper of Operations IT change requests Manage operational roll out of quality procedure Produce asset utilisation analysis Exerience required: Physical operations within the oil trading/storage industry (critical) Operational process improvement experience IT change/prioritisation experience For more details please get in touch with Peter Morgan on +44 (0)7891 852 682 or peter@elevenrecruitment.com
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Treasury Manager
Competitive
London
We're looking for a Treasury Manager for a global trade and investment organisation based in London. You will: Lead the review and development of internal treasury processes and reporting (Payments, FX, liquidity management, cashflow forecasting, etc.) Lead the treasury transformation project, to get the cash position in to the internal CTRM system and manage the ongoing automation of treasury reporting Manage the day to day communication with banking account managers for the groups treasury requirements Present and implementation of wider treasury strategy Identify and implement required infrastructure to handle the group’s corporate, trade and structured finance requirements Manage Bank onboarding including documentation and fee negotiation Provide cover for day to day treasury cash management You should have: More than 10 years’ relevant treasury experience in a commodities trading environment, with an understanding of trade flows and associated cashflows Experience in compiling reporting for management reviews Indepth knowledge of payments / payments systems Experience in treasury transformation projects and implementation of treasury systems Experience of internal leadership as well as excellent communication and co-ordination skills Experience in day to day bank facing communication and relationship skills For more details please get in touch with Sarah Stott on +44 (0) 7974 194 008 or sarah@elevenrecruitment.com
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Trade Finance
Competitive
London
We're recruiting for a top level global commodity trading house with excellent prospects. You will: Liaise internally with Front Office, Credit, Finance, Legal and Treasury as well as externally with counterparties to coordinate the issuing and receiving of letters of credit, across all commodities traded within the company Manage all aspects of trade finance; operation of letters of credit, standby letters of credit, bonds and guarantees; monitoring of internal credit line; non-payment risk sell off to banks and insurance companies and declaration of cargo insurance Maintain and manage borrowing base facilities Understand, analyse and negotiate sub limits of borrowing base facilities for payment Assist in the development and optimisation of the entire L/C process, including the development of standardised contract language and L/C proformas and aligning processes across desks and departments Maintain database of L/Cs and templates and provision of reports Increase the understanding of letters of credit within all relevant departments. You will need: Bachelor’s or higher degree – preferably in Economics/Finance Experience working in commodity/energy trading either within a Trading House / Utility OR Investment Bank Good analytical and problem solving skills, with an attention to detail and an ability to prioritise workload Experience of working with letters of credit, including understanding of international regulatory framework Flexible and highly motivated team player with excellent interpersonal skills Good commercial awareness and ideally possess knowledge of energy trading activities For more details please get in touch with Sarah Stott on +44 (0) 7974 194 008 or sarah@elevenrecruitment.com
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Trade Support Analyst - Crude, Products and Oil Derivatives
Competitive
London
Do you have experience in a Product Control/Market Risk/Middle Office/ Risk management environment, either in an oil trading company or financial institution? If you are looking for your next career opportunity you could join a leading energy company in central London as a Trade Support Analyst. THE ROLE Perform daily validation activities, making sure all physical crudes & products and oil derivatives transactions are duly and timely captured and validated according to company procedures Perform daily validation activities of relevant price information (spot/forward), making sure all relevant market data information is duly and timely validated according to company procedures Support the oil physical and financial end of day process in the relevant ETRM systems guaranteeing timely generation of Position and PNL reporting Perform checks on un-authorized trades and monitoring of mandates/limits (tenor/quantity/value etc.) Perform daily market conformity controls to monitor both physical and financial oil transactions Support the weekly, monthly and quarterly reporting KPIs produced by TRACO Ensure compliance with all internal and external regulation Ensure all internal & external audit requests/issues are promptly addressed Guarantee the necessary activity related to the month-end and quarter-end checks for physical and financial oil Support automation efforts by driving greater use of systems within the Oil Trade Control team, eliminating manual spread sheets and fully support the implementation of relevant controls directly into the trade capture systems Work with ICT to drive necessary developments Act as dedicated MO interface with confirmation / contracts / operations Department Guarantee the appropriate level of support to Middle Office function for what concern New Products / Non Standard deal approval Monitor procedural compliance for the Financial Regulations (EMIR/Dodd Frank/MiFID II) on first level control execution (reporting, reconciliation) Build good working relationship with internal (FO, BO, Risk, IT, Finance, Sox, Audit, Compliance etc) and relevant external stakeholders (auditors, clearers, brokers etc) Act as a back-up to cover other trade control members across Trade Control team Coordinate stream activities to execute ad hoc demands Support / deliver TRACO identified projects Deal with ad hoc demands SKILLS AND EXPERIENCE: Relevant experience within a Product Control/Market Risk/Middle Office/ Risk management environment in an oil trading company or financial institution. We will consider candidates who work within back office, settlements or other risk functions if they can demonstrate the skills required in Trade Control Knowledge of physical and financial instruments related to Oil & Refined products Advanced knowledge of risk metrics and internal control systems applicable for oil physical and financial transactions Knowledge of control processes applicable in a trading / regulated environment Knowledge of vessel chartering, shipping or bulk commodity movement Knowledge of exchanges (i.e. ICE, CME, NYMEX, DME), Platt’s Market on Close (MOC), E-window, and any other trading platform; Knowledge of market venues, their practices and procedures especially in relation to product/trader set up and the systems interfaces between the exchange and the trading business. Knowledge of financial hedging on Oil & Products Highly organised, good attention to detail and ability to work with tight deadlines Analytical mind with good numerical skills Knowledge of one or more IT systems would be an advantage (i.e. Endur) Strong and solid knowledge of Microsoft Office suite including excellent Excel and VBA skills, Matlab or Python knowledge a plus Strong academic credentials with a numeracy-oriented specialization, preferably Finance or quantitative discipline Experience in the middle office/product control/back office/risk management of the trading environment would be beneficial Controls oriented mind-set; innovation, pro-activity and efficiency, dedication and result oriented approach to work Good communication skills, with the ability to build effective relationships internally and externally Flexibility and adaptability to work in rapidly changing environment, be self-disciplined and stress resilient Good team worker and have an experience of working in an international and multi-location organisation For more details please get in touch with Orit Brown on +44 (0)1565 626767 or orit@elevenrecruitment.com
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Group Finance Director
Competitive
London
A leading independent and integrated energy company is looking for a Group Finance Director. The company provides its customers with innovative energy solutions for their transportation, heating and industrial needs. The role The UK Group Finance Director will report directly to the Group CFO and will be responsible for managing all aspects of the UK group companies’ financial functions including, but not limited to, accounts, treasury, credit and risk. The role will also have a dotted reporting line to the Head of UK and have close collaboration with the respective Managing Directors for all the UK and Aviation entities. Duties and Responsibilities Finance Production of timely and accurate MI as agreed with the Head of UK and MDs Assist and provide any ad-hoc analyses, papers and reports for internal and external stakeholders (MDs, Directors, Head Office Finance personnel, external and internal auditors, tax authorities, tax advisors, payroll, recruiters, insurance companies, etc.) Manage the Companies‘ tax affairs and keep up-to-date with changes in legislation Overall responsibility for group wide financial, planning and analysis Coordinate and manage the month-end, quarter-end and year-end accounting close Coordinate and manage the year-end external audits Manage the preparation of statutory annual accounts for all UK entities Develop Finance team goals that are fully aligned with the UK Group’s strategic goals Financial control and oversight and resolution of any accounting issues related to being an international group of companies with multiple offices Coordinate the Companies’ input into Group Business budget planning. Credit and Treasury Liaise closely with traders and commercial staff on trade finance issues Work closely with Group Treasury on local specialist topics and support Group wide financing and credit initiatives Efficient management of working capital, ensuring that the Companies are financially well controlled and operated within banking covenants and legal and accounting standards Responsible for the management of the Companies’ insurance policies (i.e. Public and Products liability, Employers policy, office insurances, etc.) Risk Responsible for ensuring Group governance processes are adhered to; examples include, Term Deal Approval process, New Product New Market approval etc. Ensure local sign offs for new term deals are in place Ensure appropriate legal review of contracts and solicit external legal advice as required Work with the Risk team to develop and improve the daily P&L Work closely with Group DLC and Risk on local specialist topics and support Group wide projects such as P&L Harmonisation & EOD controls. Business Development Prepare financial models for potential acquisitions Post-acquisition integration for new business Actively be involved in the due diligence work of new acquisitions Management Team Provide advice to the Boards of Directors, MDs and senior colleagues on major legal and financial changes that may impact the running of the UK Companies Contribute to the preparation of the Companies’ strategic plans. Maintain strong relationships with the Companies’ bankers, tax authorities, tax advisors, external auditors etc. Make sure the Companies are fully compliant with the business and M&B Group policies. Knowledge, Skills and Abilities Proven record as a team leader - strong management experience Proven experience including the ability to work at both strategic and operational levels, equally comfortable in financial control and FP&A Qualified Accountant (ACA, CIMA, ACCA) with proven experience in a broad finance leadership role Strong influencing skills, comfortable with liaising with personnel at all levels Be familiar with oil trading terminology e.g. contango, backwardation, time spreads, flat price exposure etc. A continuous improvement mindset Post-acquisition integration experience useful Excellent interpersonal, written and verbal communication skills You will be an exceptional communicator who is used to building relationships with stakeholders and managing the challenges this creates when working cross-functionally on a global basis A sound technical accounting knowledge is required Pragmatic, decisive and analytical Resilient, results-orientated and able to work well under pressure Tact and the ability to deal with difficult situations Good diplomatic and negotiating skills Ability to work autonomously and flexibly Pro-active and self-motivated Excellent planning and organisation skills to meet deadlines Cooperative and accurate with attention to detail Ability to view the “bigger picture” Ability to prepare and present reports to BoD level A good understanding of the midstream and downstream oil industry Professional manner Fluent English is essential Credentials and Experience Qualified ACA/ACCA/CIMA, (or overseas equivalent) Bachelors degree For more details please get in touch with Sarah Stott on +44 (0) 7974 194 008 or sarah@elevenrecruitment.com
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Risk Control Analyst - Oil Derivatives, Power and Emissions
Competitive
London
We have an excellent opportunity for a Risk Control Analyst with a leading energy company in central London. Role responsibilities Perform daily validation activities, making sure all physical and financial energy transactions (potential focus on Oil Financial Derivatives / Power and Emissions) are duly and timely captured and validated accordingly to the company procedures Perform daily validation activities of relevant price information (spot/forward), making sure all relevant market data information is duly and timely validated accordingly to the company procedures Support the physical and financial transactions end of day process in the relevant ETRM systems guaranteeing the timely generation of Position and PNL reporting Perform checks on un-authorized trades and monitoring of mandates/limits (tenor/quantity/value etc.);Perform daily market conformity controls to monitor both physical and financial transactions Ensure compliance with all internal and external regulations; Ensure all internal & external audit requests/issues are promptly addressed Guarantee the necessary activity related to the month-end and quarter-end checks for physical and financial energy transactions (potential focus on Oil Financial Derivatives / Power and Emissions) Support automation efforts by driving greater use of systems within the Trade Control team, eliminating manual spread sheets and fully support the implementation of relevant controls directly into the trade capture systems Work with ICT to drive necessary developments Act as dedicated MO interface with confirmation/ contracts/ operations department Guarantee the appropriate level of support to Middle Office function for what concern New Products/Non Standard initiatives’ approval Monitor procedural compliance for the new Financial Regulations (EMIR/Dodd Franck/REMIT/MiFID II) on first level control execution (reporting, reconciliation) Build good working relationship with internal (FO, BO, Risk, IT, Finance, Sox, Audit, Compliance etc) and relevant external stakeholders (auditors, clearers, brokers etc) Act as a back-up to cover other trade control members across Trade Control team Coordinate stream activities to execute ad hoc demands Deal with ad hoc requests/analysis. Reporting relationships This position reports to the Trade Control and Operational Risk Manager and has the following main interfaces: INTERNAL: Front Office, Back Office, Accounting, IT, other Middle Office units; Operations, Finance, Shipping. EXTERNAL: Clearing Houses, Brokers; Auditors, relevant industry contacts. Skills and experience Relevant experience within a Product Control/Market Risk/Middle Office/Risk management environment in a commodity trading company Direct energy commodity market experience preferred, specific knowledge of Oil Derivatives market is a plus Exposure to financial instruments related to energy products Advanced knowledge of risk metrics and internal control systems applicable for physical and financial transactions Knowledge of control processes applicable in a trading / regulated environment Advanced knowledge of exchanges (i.e. ICE, CME, NYMEX, DME), Platt’s Market on Close (MOC), E-window, and any other trading platforms Knowledge of market venues, their practices and procedures especially in relation to product/trader set up and the systems interfaces between the exchange and the trading business Highly organised, good attention to detail and ability to work with tight deadlines Ability to build and nurture effective relationships internally and externally Knowledge of one or more of IT systems would be an advantage (i.e. Endur) Strong and solid knowledge of Microsoft Office suite including excellent Excel and VBA skills, Matlab knowledge a plus Strong academic credentials with a numeracy-oriented specialization, preferably Finance or quantitative discipline Controls oriented mind-set Innovation, pro-activity and efficiency, dedication and result oriented approach to work Structured and logical approach to problem solving Good communication skills, with the ability to build and nurture effective relationships internally and externally Flexibility and adaptability to work in rapidly changing environment Good team worker and have an experience of working in an international and multi-location organization Please contact Orit Brown for more information on +44 (0)1565 626767 or orit@elevenrecruitment.com
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Product Manager
£70,000 - £90,000 plus options
London
We are looking for a Senior Product Manager to join a rapidly-growing London-based capital markets/data start-up, that is developing an AI-powered system for institutional energy trading. Reporting directly into the CEO, you will be responsible for translating long-term business objectives and strategy, taking a leading role in driving the market data and trading application to new heights and industry-wide adoption. This is a non-technical role: no prior product experience is required, but a background in trading would be highly preferable (especially OTC energy commodities). This is a key hire as the business scales, and as such you will have a high degree of responsibility, autonomy and interaction with the Board and Investors. Currently the bulk of large-scale B2B derivative trading is done via 20+-year-old systems like messenger chat, telephone and Excel spreadsheets where data is siloed across teams and functions. Our client is offering a product to modernise commodity trading. They build core data and trading infrastructure for derivative trade execution and risk management, which allows making faster & more accurate critical trading decisions. They also provide services for trading desks at multiple Fortune 500 companies and have been working with the super-majors from their beginning. They are currently a team of 11 with strong academic backgrounds, and experience at the world’s top institutions. Having recently received backing from two institutional VC investors and a major strategic industry player they are transitioning to the next phase of growth and looking for exceptional people to join. The role Working directly with clients, design, front office and technology teams, you will lead the evolution of the look and feel of a product that will disrupt the outdated energy commodities market Become an expert in customer's issues, their needs, and the technology that can address them Build and refine the near-term product roadmap with the company’s executive team, carrying out the user research and planning required to shape the direction of our products Be the driving force behind the development of a two-sided trading & communication network, creating a digital marketplace Use relationships with the largest traders to determine the optimal deal protocol, data flows and interface requirements Innovating in the areas of real-time aggregated price data, OTC trading and benchmark data reporting systems with industry partners Build your own plan for product management, and grow the function About you Exceptional academic background - top 10 UK university or international alternative, ideally a quantitative subject Experience in trading in institutional OTC markets Interest in Product Management and improving products (PM experience is helpful but not required) Analytical, problem-solving skills with flexible mindset Great interpersonal skills for liaising with energy trading clients, and an ability to present large amounts of complex information in a succinct manner Very fast learner with a highly analytical approach who can solve problems and get things done Opportunity Work in an exciting, fast-paced startup environment where you can personally influence the course of the company Gain unbeatable product experience, working across the organisation at all levels Potential for personal career growth, building a product management function Remuneration £70,000 - £90,000 plus options For more information about this role please contact Richard Tregarthen on +44 (0)1565 626767 or apply via our website
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Derivative Operations Analyst
Competitive
London
We have a great opportunity for an Energy Operations Analyst to join a Global Commodities Trading House in Central London. Job responsibilities Reconciliation of the company’s daily cleared open position with the exchange as well as the daily margin call with the clearing house. Independently query, challenge and resolve reconciliation discrepancies with the clearing house. Drafting OTC paper confirmation for OTC trades and counterparty confirmation for OTC trades Checking incoming OTC paper and electronic confirmations and chasing outstanding, and inbound, OTC paper confirmations. Invoicing and agreeing settlements for OTC transactions. Preform portfolio reconciliation as required by EMIR. The ideal candidate will have: Working knowledge of Physical Natural Gas/LNG/Physical Oil or Exchange Trade Derivatives (Cleared Products). Front to Back Office understanding and strong product Knowledge in their current and previous experience. Experience with the contracts side of a Back/Middle Office and exposure to ISDA/EFET confirmations. Awareness or working knowledge of EMIR, REMIT and MiFID regulations – nice to have Supported Cleared and OTC business at an Exchange, Bank or similar Oil Market Participant One year relevant experience or knowledge with working with exchange cleared oil and gas contracts and OTC confirmation would be desirable
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Energy Risk Manager
Competitive
Denmark
We are looking for an ambitious and experienced Energy Risk Manager for our client, a leading provider of customised hedging solutions for the management of price risk on energy expenses. This position would suit someone with experience in European gas sales, marketing and structuring within a Bank/ Financial institution or Utility/ trading company The Energy Risk Manager's focus is on creating value for the Energy Risk Management (Sales) and Trading business through actively marketing European gas/coal and EUA markets and associated instruments. Responsibilities: Promote the market making services of our client to new and existing European clients primarily in gas, coal and EUAs; across all appropriate industry segments Develop new client relationships and possibly bring an existing book of business Contribute to the development of research and marketing material, helping provide some commercial input to the group who produce such reports (along with others in sales) A proactive approach to cross marketing of energy products including supporting and promoting trading deals involving the oil and/or the electricity trading units of our client. Rigorous risk management and daily reporting Full compliance with internal and external policies, rules and regulations Skills and experience: 4-8 years of experience on European Gas sales, marketing and structuring within a Bank/ Financial institution or Utility/ trading company. Excellent understanding of trading systems, Exchange rules and OTC markets Rigorous understanding of financial derivatives’ risks, regulations and product specific trading rules Ability to take high level of responsibility in an expanding, highly motivated team Please contact Richard Tregarthen on +44 (0)7906 272852 or richard@elevenrecruitment.com for more information, or apply via our website.
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Sales Manager
£40,000 - £45,000 plus benefits
Lancashire
Are you an experienced fuel sales manager with a strong operational background, looking to join a growing business? We are working with a niche fuel supply business which has grown organically over the past 5yrs and is seeking a successful sales manager to lead their high performing sales team. This is an office based role in the North West so you must be based in that region or able to relocate / travel to the office. The role: Lead a team of 9 sales people Maintain and improve upon individual and team performance metrics Liaise daily with suppliers in order to spot opportunities to increase margins or sales Manage your own key accounts Make a significant contribution to the sales performance and growth of the company The ideal candiate will have: At least 5+ years within fuel sales Experience in an operational rule such as a Depot Manager or similar Good understanding of supply chain for a fuels business Sales management experience - Able to drive the delivery of an experienced team Demonstrable success with Key Account Management - You will be able to win and retain large accounts An enthusiasm to increase quality of performance at all times On offer is a salary in the region of £40k - £45k plus bonus and other company benefits. Please contact Lucinda on 07854 576318 or lucinda@elevenrecruitment.com for further information
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