Dominic Sung, BHP ’03, BBA ’03, recently took on the role of chair for the BHP Advisory Board and is being honored with the prestigious McCombs Rising Star Award during the McCombs Hall of Fame ceremony on November 9. The award is presented to alumni no more than 10 years out from graduation who have been successful professionally and helped strengthen the McCombs Alumni Network. Dominic, who is a Director of Structured Products in the Integrated Supply and Trading Group at BP, is looking forward to enhancing the BHP for future generations of students in his new role as chair of the board. He took the time to chat with us about his role at BP, his time in the BHP, and his plans for the alumni board.
What are you currently doing for BP?
In the Structured Products Americas team, we deal with counterparties that BP transacts with directly over the counter. We create and execute tailored risk management structures for these customers in order to hedge their energy commodity risk. Businesses have exposure to price risk around energy commodities due to the input or output of their business, and we help them manage this risk. For example, there might be a steel company that burns natural gas to smelt their steel. Natural gas price changes significantly affect their bottom line. They may call us and talk to us about how to manage this risk in order to meet their objectives, which may involve how they purchase the physical commodity and/or the financial hedging around that. We help create and execute solutions for each counterparty’s unique risk profiles.
You have been with BP since graduation. What do you love about working there?
I like it for the same reason I liked being in the BHP. It is a large company with a lot of assets and a big balance sheet behind it, but I am in a small group, working in a specific industry I enjoy. It is similar to how the BHP provided me a small group within a large university with many assets. I also like that I get to work in a global and exciting environment with no two days that are alike.
How have you determined when you were ready to make a move at BP?
I started in an analyst program, doing four roles in three years. I then found a more permanent role after that. It is a very performance driven environment. Your compensation is directly related to your performance. Many people in this job environment are less worried about titles and more worried about performance. For me, personally, it is about managing what is tantamount to my own piece of business. When I feel like I have exhausted the growth opportunities within what I am doing and am not challenged at a level I am comfortable with, it is time to move on to something else or change what I am responsible for.
What does the typical work day look like for you?
Every day and every client is different. I cover 200+ clients and they are all very different. I have to work to understand their business, and their needs, and solve those particular problems. I end up having to travel quite a bit to meet with my clients (which always sounds more glamorous than it is). On those days the schedule can be rough, catching early flights and returning on odd-houred flights to be back in the office for the next day. On a “regular” day in the office, I’m usually at my desk and booted up by around 7:00AM, eating at the trade desk during lunch, and leaving by about 5:00pm. While the schedule can be demanding, the work keeps it fun and interesting. I use more of my finance education than I ever thought I would. Because of the complex financial derivatives I am working with, I use it all.
Why did you want to serve on the alumni board?
I have been blessed with many things and have always enjoyed giving back. I got a tremendous amount of benefit from the BHP and UT and want to ensure that the program is as beneficial for those coming after me as it was for me, hopefully improving upon it as well. As the program improves, so does the value of my degree. I feel like it is my responsibility to give back and help out where I can.
How would you like to see the BHP alumni community come together in the next year?
The BHP set us up for success. I want to foster a culture of staying involved. All of us have strong relationships with the people we went through the program with. It is about extending that back to the program and coming together not just for social purposes, but to impact the program. I would encourage our alumni to reconnect with each other and give money, time, or whatever they can to help the program and to build a strong alumni network.
What skills should BHP students have who want to do something similar to what you are doing?
They need to have a high level of intellectual curiosity, mathematical skills and finance acumen. They should also have the ability to process information quickly, be decisive and be adaptable. I think the BHP sets you up for that very well through extensive group work. If you can’t deal with people, you can’t do my job. We sit in very close quarters here and work with a lot of clients.
What advice do you have for current students?
Take advantage of all of the resources that are at your disposal at UT. If you have an interest in something, go and explore it while it’s available to you. There are so many organizations and resources. Business is applicable to whatever you are really interested in. Find what it is that you are passionate about and apply business skills to it.