Marathon Petroleum Corporation
Distillates Trading Director
Marathon Petroleum Corporation, Houston, Texas, United States, 77246
Overview
Leads the global distillates trading portfolio across domestic and international markets. Responsible for optimizing margin through arbitrage strategies, structured term deals, and integration across logistics, planning, and trading execution. The Head of Distillates has four core objectives: leads strategy and trading for diesel and jet fuel across North America and international markets, structures spot/term agreements and arbitrage strategies aligned with regional and global pricing, and coordinates with Refining, Logistics, Fuels Value Chains (FVC) and Value Chain Optimization (VCO) to ensure flow assurance and quality compliance, owning desk-level performance through optimization and derivative hedging. Key Responsibilities
Trading Strategy & Commercial Execution: Set and own the global distillates trading strategy, allocating domestic and international diesel and jet desks based on margin, volatility and regional demand. Define and execute arbitrage strategies and term structure for each regional commodity desk. Support renewable diesel placement and LCFS/RIN strategy for diesel pools. Optimize crack spreads and basis trades across inland vs. coastal markets, balancing physical flow constraints. Structure and negotiate purchases and sales, aligning with refinery and terminal capabilities. Coordinate the use of derivatives (spreads, swaps, futures) to hedge regional exposures and protect margin. Market Intelligence & Analytics: Monitor regional price differentials, crack differentials (e.g., ULSD vs. crude), and seasonality for real-time decision support. Partner with Analytics/VCO/FVCs to embed market outlook into the planning cycle to improve decision making. Sponsor continuous enhancement of distillates quality-arb activities and analytics. Engage in performance management by assessing trading actuals vs. planning benchmarks and recalibrating strategy to hit margin and volume goals. Assist in tracking KPIs such as regional crack capture and desk-specific basis performance. Asset Coordination & Product Specification Management: Coordinate with Refining, Terminals, Scheduling and MPLX to align distillates flow plans, storage logistics and off-take scheduling. Manage quality/spec constraints (e.g., cetane, aromatics, cold flow) and regrade options. Oversee inventory placement to optimize trading around market structure. Ensure compliance with product specs, regulatory requirements and regional fuel mandates. Risk, Compliance & Counterparty Engagement: Collaborate with Risk/Middle Office and Finance to design compliant hedging frameworks and approve term deals within credit limits. Define hedge objectives and risk limits. Partner with the Financial Trading desk for broader portfolio trading and exposure management. Build and maintain relationships with major suppliers and end-users in distillates markets globally. Structure transactions to balance credit, counterparty reliability, economics and regulatory compliance. Coordinate with Middle Office to ensure accurate P&L attribution and daily risk reporting. Cross-Functional Interfaces: Work with Origination, FVCs, VCO and cross-commodity trading teams to align term volumes, hedges and customer deliveries. Engage with Legal, Regulatory, Compliance, Contracts, Risk, IT and Credit. Leadership & Capability Development: Build and coach a high-performing global distillate trading team across multiple US offices, including Singapore and London. Foster data-driven decision making, disciplined risk management and cross-desk collaboration. Identify and develop future desk leads and ensure robust succession planning. Foster development of employees interested in trading and commercial roles. Core Competencies
Commercial & Financial Acumen: Deep understanding of fundamental and financial drivers in global distillate markets; proficient in physical and financial trading and structured deal negotiation. Cross-Commodity & Risk Management: Skilled in cracks, inter-commodity spreads; uses derivatives to hedge regional basis and quality arbitrage; risk limits and P&L attribution. Strategic Vision, Systems Thinking & Operational Excellence: Aligns desks to an integrated trading strategy; oversees inventory and product spec management; collaborates to enable physical trade execution. Digital & Analytical Fluency: Applies analytics to optimize trading decisions against market signals. Education And Experience
Required: Bachelor’s degree; 10 years of trader or related commercial experience with a proven track record across multiple geographies. Preferred: At least 5 years managing global distillates P&L; leadership of regional and global distillate desks; experience in other refined products or crude markets; experience in both physical and paper markets; strong understanding of quality arbitrage, regrade strategies and regulatory program compliance; track record in structuring cycle-tested arb strategies and term supply agreements; strong stakeholder leadership with cross-functional and customer-facing responsibilities; strong understanding of physical logistics, regrade mechanics and spec compliance. Location & Relocation
Location: Houston, TX. Relocation available. Estimated travel: approximately 10% of the time. Equal Opportunity
Marathon Petroleum Company LP is an Equal Opportunity Employer and gives consideration for employment to qualified applicants without discrimination on the basis of race, color, religion, creed, sex, gender (including pregnancy, childbirth, breastfeeding or related medical conditions), sexual orientation, gender identity, gender expression, reproductive health decision-making, age, mental or physical disability, medical condition or AIDS/HIV status, ancestry, national origin, genetic information, military or veteran status, marital status, citizenship or any other status protected by applicable federal, state, or local laws. If you would like more information about your EEO rights as an applicant, click here. If you need a reasonable accommodation for any part of the application process, contact talentacquisition@marathonpetroleum.com. A total rewards program is offered, including health/vision/dental insurance, PTO, 401k matching, parental leave, and educational reimbursement. Detailed benefits information is available at mympcbenefits.com. The hired candidate will also be eligible for a discretionary company-sponsored annual bonus program. Equal Opportunity Employer: Veteran / Disability. We will consider all qualified applicants, including those with arrest or conviction records, in accordance with applicable laws.
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Leads the global distillates trading portfolio across domestic and international markets. Responsible for optimizing margin through arbitrage strategies, structured term deals, and integration across logistics, planning, and trading execution. The Head of Distillates has four core objectives: leads strategy and trading for diesel and jet fuel across North America and international markets, structures spot/term agreements and arbitrage strategies aligned with regional and global pricing, and coordinates with Refining, Logistics, Fuels Value Chains (FVC) and Value Chain Optimization (VCO) to ensure flow assurance and quality compliance, owning desk-level performance through optimization and derivative hedging. Key Responsibilities
Trading Strategy & Commercial Execution: Set and own the global distillates trading strategy, allocating domestic and international diesel and jet desks based on margin, volatility and regional demand. Define and execute arbitrage strategies and term structure for each regional commodity desk. Support renewable diesel placement and LCFS/RIN strategy for diesel pools. Optimize crack spreads and basis trades across inland vs. coastal markets, balancing physical flow constraints. Structure and negotiate purchases and sales, aligning with refinery and terminal capabilities. Coordinate the use of derivatives (spreads, swaps, futures) to hedge regional exposures and protect margin. Market Intelligence & Analytics: Monitor regional price differentials, crack differentials (e.g., ULSD vs. crude), and seasonality for real-time decision support. Partner with Analytics/VCO/FVCs to embed market outlook into the planning cycle to improve decision making. Sponsor continuous enhancement of distillates quality-arb activities and analytics. Engage in performance management by assessing trading actuals vs. planning benchmarks and recalibrating strategy to hit margin and volume goals. Assist in tracking KPIs such as regional crack capture and desk-specific basis performance. Asset Coordination & Product Specification Management: Coordinate with Refining, Terminals, Scheduling and MPLX to align distillates flow plans, storage logistics and off-take scheduling. Manage quality/spec constraints (e.g., cetane, aromatics, cold flow) and regrade options. Oversee inventory placement to optimize trading around market structure. Ensure compliance with product specs, regulatory requirements and regional fuel mandates. Risk, Compliance & Counterparty Engagement: Collaborate with Risk/Middle Office and Finance to design compliant hedging frameworks and approve term deals within credit limits. Define hedge objectives and risk limits. Partner with the Financial Trading desk for broader portfolio trading and exposure management. Build and maintain relationships with major suppliers and end-users in distillates markets globally. Structure transactions to balance credit, counterparty reliability, economics and regulatory compliance. Coordinate with Middle Office to ensure accurate P&L attribution and daily risk reporting. Cross-Functional Interfaces: Work with Origination, FVCs, VCO and cross-commodity trading teams to align term volumes, hedges and customer deliveries. Engage with Legal, Regulatory, Compliance, Contracts, Risk, IT and Credit. Leadership & Capability Development: Build and coach a high-performing global distillate trading team across multiple US offices, including Singapore and London. Foster data-driven decision making, disciplined risk management and cross-desk collaboration. Identify and develop future desk leads and ensure robust succession planning. Foster development of employees interested in trading and commercial roles. Core Competencies
Commercial & Financial Acumen: Deep understanding of fundamental and financial drivers in global distillate markets; proficient in physical and financial trading and structured deal negotiation. Cross-Commodity & Risk Management: Skilled in cracks, inter-commodity spreads; uses derivatives to hedge regional basis and quality arbitrage; risk limits and P&L attribution. Strategic Vision, Systems Thinking & Operational Excellence: Aligns desks to an integrated trading strategy; oversees inventory and product spec management; collaborates to enable physical trade execution. Digital & Analytical Fluency: Applies analytics to optimize trading decisions against market signals. Education And Experience
Required: Bachelor’s degree; 10 years of trader or related commercial experience with a proven track record across multiple geographies. Preferred: At least 5 years managing global distillates P&L; leadership of regional and global distillate desks; experience in other refined products or crude markets; experience in both physical and paper markets; strong understanding of quality arbitrage, regrade strategies and regulatory program compliance; track record in structuring cycle-tested arb strategies and term supply agreements; strong stakeholder leadership with cross-functional and customer-facing responsibilities; strong understanding of physical logistics, regrade mechanics and spec compliance. Location & Relocation
Location: Houston, TX. Relocation available. Estimated travel: approximately 10% of the time. Equal Opportunity
Marathon Petroleum Company LP is an Equal Opportunity Employer and gives consideration for employment to qualified applicants without discrimination on the basis of race, color, religion, creed, sex, gender (including pregnancy, childbirth, breastfeeding or related medical conditions), sexual orientation, gender identity, gender expression, reproductive health decision-making, age, mental or physical disability, medical condition or AIDS/HIV status, ancestry, national origin, genetic information, military or veteran status, marital status, citizenship or any other status protected by applicable federal, state, or local laws. If you would like more information about your EEO rights as an applicant, click here. If you need a reasonable accommodation for any part of the application process, contact talentacquisition@marathonpetroleum.com. A total rewards program is offered, including health/vision/dental insurance, PTO, 401k matching, parental leave, and educational reimbursement. Detailed benefits information is available at mympcbenefits.com. The hired candidate will also be eligible for a discretionary company-sponsored annual bonus program. Equal Opportunity Employer: Veteran / Disability. We will consider all qualified applicants, including those with arrest or conviction records, in accordance with applicable laws.
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