Cherlene Cheah
Chevron
1
Certification
16
years of professional experience
Driven professional with robust market risk analytics and portfolio assessment skills. Known for enhancing risk controls and governance, ensuring effective stakeholder engagement, and fostering continuous improvement in risk oversight.
Work History
Risk Control Analyst
2 Years 6 Months- Develop independent understanding of Chevron’s global trading portfolio, including strategies employed, pricing exposures, and P&L drivers across commodities and financial instruments.
- Assess new transactions across commodities to ensure market risks are identified, evaluated, and appropriately considered at both trade and portfolio levels.
- Review daily risk reports, including mark-to-market valuations, positions, and risk metrics, ensuring accuracy and alignment with approved risk appetite.
- Monitor key indices and forward curve construction, proposing alternative data sources or methodologies where appropriate to enhance risk evaluation.
- Collaborate with valuation and analytics teams to assess market risks, valuation approaches, and embedded optionality across physical and financial portfolios.
- Execute market risk controls under relevant policy frameworks, including limit monitoring, exception analysis, and design of controls for new deal types.
- Analyze market risk exposures and risk metrics to ensure they are properly understood, evaluated, and clearly communicated to stakeholders, escalating issues in a timely manner.
- Apply advanced methodologies such as VaR, back-testing, stress testing, scenario analysis, and liquidity analysis to evaluate portfolio risk and reward.
- Investigate and explain changes in positions, P&L, mark-to-market, and risk metrics by analyzing underlying portfolio and market drivers.
- Support risk appetite implementation by monitoring compliance with approved market risk limits and escalating breaches or unusual exposures in accordance with governance.
- Drive continuous improvement in risk analytics, controls, and reporting through dashboarding, visualization, automation, and simplification initiatives.
- Build collaborative relationships across Risk Control, Trading/front office, IT, and compliance to deliver integrated risk oversight and share industry best practices.
Middle Office Manager
1 Year 1 Month- Develop independent understanding of paper derivatives trading strategies, pricing exposures, and P&L drivers, ensuring key sources of value generation are identified and monitored.
- Review daily P&L and positions, including mark-to-market valuations and forward curve construction, validating accuracy and reasonableness against approved risk appetite.
- Maintain forward curves through daily marking and independent assessment of market dynamics, engaging with the desk as needed for prompt positions.
- Assist with cargo economics by running scenario analyses and optimizations to evaluate trading strategies and portfolio impacts.
- Communicate risk insights by clearly reporting P&L, positions, and risk metrics to management and front office stakeholders.
- Independently monitor exposures to confirm system valuations reflect true economic value, escalating discrepancies where necessary.
- Mentor and upskill analyst through knowledge sharing, training, and exposure to industry best practices in middle office.
Senior LNG Analyst
1 Year 6 Months- Developed independent understanding of LNG trading strategies, market fundamentals, and pricing exposures by analysing global supply/demand balances, cargo flows, spreads, and price indices.
- Maintained and enhanced models to forecast short- and medium-term market balances, providing independent views of LNG flows and market price dynamics.
- Collaborated with trading teams to deliver fundamental analysis, scenario testing, and optimisation insights that supported portfolio exposure management and trading strategy development.
- Applied analytical tools and algorithms to process trading data, supporting valuation approaches and decision-making across physical and financial portfolios.
- Generated post-deal analytics and maintained real-time P&L explain for the LNG portfolio, monitoring key mark-to-market drivers such as time spreads, location spreads, and outright exposures.
- Investigated and explained changes in positions, P&L, and risk metrics by analysing underlying portfolio drivers and market movements.
- Supported ETRM system enhancements by troubleshooting booking and entity issues, ensuring accurate capture of operational and shipping changes, and partnering with Middle Office and Technology to improve efficiency.
- Executed market risk controls including monitoring of risk-related limits, exception analysis, and validation of deal economics assumptions.
- Delivered management reporting on trading performance and portfolio composition, ensuring exposures and risks were clearly communicated to stakeholders.
- Collaborated across teams to identify, develop, and implement continuous improvement initiatives in risk analytics, controls, and reporting.
- Contributed to ad-hoc projects supporting evolving business needs and governance requirements.
Product Control Manager
11 Months- Developed independent understanding of trading strategies, pricing exposures, and P&L drivers across Pavilion Energy’s business units, ensuring key sources of value generation were identified and monitored.
- Assessed new transactions and validated physical and derivative deal entries to ensure accurate capture in risk systems and appropriate consideration of market risks.
- Reviewed daily risk reports including mark-to-market valuations, positions, and risk metrics, ensuring reasonableness against approved risk appetite.
- Analysed P&L explain by decomposing results into risk factors (time, price, volatility, FX, etc.), attributing profit drivers, and communicating insights to management.
- Collaborated with Finance on month-end closing processes, verifying P&L variances between trader flash and actual results.
- Maintained trading books and P&L-related static data in risk systems, ensuring accuracy and consistency across portfolios.
- Executed market risk controls including monitoring of risk-related limits, exception analysis, and advisory support for new deal types and reporting projects.
- Investigated and explained changes in positions, P&L, and risk metrics by analyzing underlying portfolio and market drivers.
- Led and developed analyst by managing a high-performing team, setting goals, coaching, and building organizational capability to meet evolving business needs.
- Drove process improvements by identifying inefficiencies, implementing changes, and contributing to continuous improvement initiatives in P&L controls and reporting.
Risk Management Manager
5 Years 2 Months- Implemented risk management framework by supporting the Head of Risk in establishing policies, procedures, and methodologies across trading activities.
- Assessed new transactions and proposed activities to ensure market risks were identified, understood, and appropriately limited; evaluated gaps in valuation and risk measurement of existing trades.
- Reviewed and monitored limits regularly to ensure appropriateness in light of evolving trading strategies, escalating breaches and exceptions in accordance with governance.
- Executed daily risk controls by computing, analysing, and reporting exposures, ensuring compliance with approved limits and effective communication with front and back office teams.
- Performed monthly closing tasks including profit and loss analysis, variance reviews, and preparation of reports for the Risk Management Committee.
- Applied advanced risk methodologies by maintaining and enhancing VaR models, conducting stress testing, scenario analysis, and back-testing to validate risk measurement results.
- Provided risk insights to management and trading teams on sources of P&L, key exposures, and scenario outcomes to support informed decision-making.
- Gathered and disseminated market data including daily mark-to-market prices and relevant information, ensuring accurate end-of-day operations in risk systems.
- Developed market knowledge by maintaining foundational understanding of biofuels market dynamics, pricing mechanisms, and business models.
- Oversaw hedging activities including monitoring strategies, evaluating effectiveness, validating hedging ratios, and reviewing compliance reports across monthly, quarterly, and annual cycles.
Product Control Analyst
2 Years 9 Months- Developed independent understanding of supply and trading exposures, strategies, and market fundamentals to identify key drivers of value generation.
- Produced market risk analytics including VaR, stress testing, liquidity testing, concentration risk, sensitivities, scenario analysis, and backtesting to evaluate portfolio risk and reward.
- Performed integrity checks on input data such as prices and exposures to ensure accuracy and reliability of risk metrics and VaR reporting.
- Collaborated with support teams including Market Risk Application Support and Valuation to resolve technical issues, ensure smooth reporting processes, and maintain data accuracy.
- Provided technical assistance in large-scale data analysis and testing, troubleshooting errors, and implementing process improvements.
- Contributed to system infrastructure projects to enhance market risk reporting, analytics, and controls.
- Challenged trading activity constructively to ensure compliance with intended strategies and alignment with risk appetite.
- Identified and mitigated risks across trading book positions and exposures, escalating issues in a timely manner.
- Applied risk policies by interpreting commodity risk policies, ensuring accurate application, and contributing to the definition of new policies and procedures.
- Drove continuous improvement through digitalization, automation, and changes in ways of working to enhance efficiency and effectiveness of risk reporting and controls.
Education
Master of Science - Quantitative Finance
B.Eng - Chemical Engineering
Skills
Market Risk Analytics
Portfolio Risk Assessment
Forward Curve Modelling
Option & Derivative Modelling
ETRM Systems
Data Analysis & Tools
Risk Controls & Governance
Energy Market Fundamentals
Stakeholder Engagement
Continuous Improvement
Independent Risk Oversight
Certification
Data Analytics Using Power BI, SMU Academy - 2024
Yoga Teacher Training Certificate, Yoga Inc - 2022
Timeline
Risk Control Analyst
Chevron
02.2024 - CurrentRead More
Middle Office Manager
Socar
01.2022 - 02.2023Read More
Senior LNG Analyst
Pavilion Energy
07.2020 - 01.2022Read More
Product Control Manager
Pavilion Energy
08.2019 - 07.2020Read More
Risk Management Manager
China Aviation Oil
06.2014 - 08.2019Read More
Product Control Analyst
BP
06.2010 - 03.2013Read More
National University of Singapore
Master of Science from Quantitative Finance
Read More
National University of Singapore
B.Eng from Chemical Engineering
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