BP
Responsible for supporting the exploration and development of new business opportunities, contributing to the successful development of offers, building relationships with appropriate partner/supplier contacts and supporting execution of strategic projects, whilst exercising a combination of commercial and technical rigor to help achieve BP’s growth objectives.
Job Description:Strategy & Sustainability
If you’re a sustainability focused strategic thinker, this could be for you: The purpose of strategy & sustainability is to define a value-adding, sustainability-led strategic direction for us to deliver on our ambition of reimagining energy for people and our planet.
Working within S&S, you will be embedded in the centre of the organisation bringing together strategy, sustainability and capital allocation into a group-wide framework and promoting ethics and compliance across the organisation.
Join us and help us achieve our purpose through:
- A modern, dynamic and collaborative approach to strategy, sustainability and capital allocation – you will work with the businesses, finance and the broad organisation to support the delivery of our ambition, our aims and our financial aspirations. Together we will help frame and make the optimal trade-offs and choices for us.
- A lens on sustainability as a competitive advantage – you will drive sustainability to unleash new business opportunities, growth and value to us.
- Proprietary bp insights – you will focus on developing a distinctive understanding of global economics, energy markets, customer needs and competitors to support our businesses and strategy.
- Proactive shaping of external policy – you will define where our company stands on matters of public policy – in line with our aims – as well as how we can contribute to proactively shape the external environment across regions.
- Strategic oversight of our carbon management activities – you will coordinate and drive progress on our net zero ambition and aims.
- Effective ethics and compliance as a driver of organisational and business sustainability – you will support our bp business groups and other entities in promoting an ethical culture and work environment, and effective compliance risk management.
- Enabling our company and its businesses to achieve their goals – where our organisation holds expertise, we will use it collaboratively and constructively.
ROLE SYNOPSIS
Venturing is integral to enriching bp’s innovation landscape by taking advantage of transformational/disruptive changes to the value chains bp is, or might be, active in. As bp’s corporate venture capital unit, bp Ventures (bpV) plays a key role in helping bp reinvent itself as an integrated energy company, in line with our new purpose: reimagining energy for people and planet.bpV exists to provide insight into and the commercial innovation capacity that allows bp to build new businesses. bpV collaborates actively to share insight across SS&V and the wider bp to ensure bp realizes the full strategic value of the corporate venture capital activity.
bpV invests in a portfolio of high growth businesses with significant impact on bp’s current or future strategy. bpV has a track record of investing in disruptive innovation, creating value for bp across dynamic markets. Since 2006, bpV has invested over $1bn into over 70 companies, co-investing with more than 250 corporate and institutional venture capital groups. Currently, bpV manages an active portfolio of around 30 companies.bpV’s investment strategy is primarily focused on bp’s 5 transition growth engines (Bioenergy, Hydrogen, Renewables & Power, EV charging & Convenience) and categorized into the following four investment buckets:
- “Core – hydrocarbons” enabling bp to deliver on its aims to get to net zero and care for our planet.
- “Growth engines – informed” by business strategy delivering near-term business ambitions.
- “Growth engines – disruptors” inform business strategy through longer-term next generation or disruptive technologies.
- “Explore” the energy white space that inform and spur new growth engines by challenging existing bp strategy.
This position will an Investment Associate in bp Ventures supporting the Rest of World regional team, reporting to the Regional Managing Director RoW and be located in UK – London. The Investment Associate will support the team of Principals/Associates across the growth engines in leading competitive market analysis, leading due diligence efforts, supporting and sometimes leading deal structuring / negotiation / peer reviews, taking on governance responsibilities to include board observer and shareholder rep roles. leading peer reviews, and leading various portfolio management efforts.
By partnering with early- and growth-stage start-ups based in Asia, the Middle East, and Africa as well as its venture capital and corporate venture capital community, the Investment Associate ROW will support the bpV team to accelerate the development of accretive and disruptive technologies for bp globally. The Ventures team operates in highly dynamic internal and external markets, building and shaping options to create enhanced strategic and financial value for bp.
Key Accountabilities
- Target Market Analysis: Upon target company or industry selection, the Investment Associate will lead the competitive market analysis to understand market size, valuation multiples, and margins of existing companies in market segment.
- Commercial Modeling: Evaluate target company’s financial model and key assumptions and then support Finance with inputs in building a modified model that aligns with bp’s views of the overall market and assumptions.
- Deal Structuring, Negotiation, and Execution: Supports the deal lead Investment Principal and/or Investment Director in development of the IM (Information Memo), ATN (Authority to Negotiate), and EFMs (Execute Finance Memorandum), peer review materials and materials for investment committee for deals in which the Investment Associate is either supporting or leading on.
- Portfolio Management: Will take on at least 2 board observer roles in order to provide professional development opportunities for future board director roles and aid bpV in managing its portfolio of investments.
- Portfolio Management: Will assist in the preparation of follow-on investments into Venture portfolio companies and make recommendations to Regional Managing Directors and Investment Directors on level of investment and commercial terms.
- Scanning and Deal origination: Will be expected to attend conferences and network with the venture capital community to identify deal flow strategic to bp and investment partners. The Investment Associate will assist deal Investment Directors and Investment Principals in competitor benchmarking for prospective deal opportunities and preparation of other presentation materials during growth sector deal flow meetings.
- Deployment: Will support in the delivery of strategic value to bp by engaging in business development activities within bp network to deploy portfolio company technologies in bp, as guided by the bpV Strategic Value team.
- Exit Management: Will support and help deliver financial value to bp by engaging with the Regional Managing Director in liquidation events such as an M&A and IPO.
- Drives Agile and Continuous Improvement Practices, benchmarking, and longer-term planning. Leads the lessons learned process at the conclusion of each investment.
- Drive and embed HSSE culture and behavior in region and more broadly across the team.
- Ensure all activities conducted in accordance with bp’s Code of Conduct.
ESSENTIAL EDUCATION:
- Preferred candidate is MBA or equivalent technical and/or commercial experience.
ESSENTIAL EXPERIENCE AND JOB REQUIREMENTS:
- Preferred: Strong financial skills, including financial modelling. With preference to expertise in modelling specific to venture capital or M&A.
- Preferred: Previous negotiation experience specific to complex deals and or venture capital, including deal term sheets and structures.
- Preferred: Previous experience working or living in one of the markets covered in this role (India, China, Singapore, elsewhere in the Asia Pacific region, the UAE or elsewhere in the Middle East, or Africa) and/or the ability to speak Mandarin, Hindi, Arabic, or a related language.
- Ideal candidate has a mixture of commercial, financial, and technical skills.
- A strong team player able to interact with colleagues both within bpV and across the business.
- Ability to work to tight deadlines and respond to changing requirements.
- Ability to work in an uncertain and ambiguous business environment with few precedents.
- Manages several activity streams with conflicting priorities.
- Good presentation skills and ability to communicate complex data effectively.
- Willingness to challenge and question the status quo.