Middle officers maintain constant risk monitoring of trading positions. They are responsible for the physical trade entry in the ETRM systems, daily position monitoring and reporting, and Profits and Losses reporting, and secondary cost accruals. They actively participates in risk management strategies. Middle officers are the first line of defense of the risk and control team.
Responsibilities:
Daily oversight of trading activities for the for the North American Power, Natural gas Emissions trade desks.
Lead the standardization and execution of daily processes in the areas of deal level exposure, daily P&L; validation, global exposure and P&L; reporting, providing the appropriate level of oversight and review.
Drive consistency, efficiency and automation for regional and global activities of the Team, as well as support Global initiatives for Middle Office operations.
Enhance engagement with the commercial team through analytic support, including developing tools and metrics to provide better insights into the business activities and key drivers of P&L.
Assist w/ modeling and pro forma valuations for structured transactions leveraging SQL and python to integrate into current ETRM.
Work on identifying, quantifying, monitoring, and explaining energy market risks to internal stakeholder, Traders and Senior Management.
Assess traders' positions, terms, products, instruments and all other parameters against traders' authorized risk limits.
Perform price verification analysis against third party vendors for daily and monthly price curves to ensure forward valuations are at market.
Daily production and evaluation of risk reports, to include but not limit to, profit and loss attribution, position grids with customized views, daily Value at Risk, and weekly Stress Scenarios; report as required/needed to applicable management and/or traders.
Communicate portfolio risks, recent historical market movements and trends and their impact on the desk's P&L to senior management, based in Geneva and USA.
Monitor daily VaR and other position reporting.
Work closely with the front desk and research current market conditions and/or changes in order to understand the potential magnitude or probability of potential adverse effects to the business. Effectively and timely communicate this research and the impact thereof to the business.
Build and maintain working knowledge of the business with the ability to quantify and explain risks specifically for North American power, Natural gas, and Emissions.
Be responsible for communicating portfolio risks, recent historical market movements and trends their impacts to senior management as well as making recommendations on risk exposures.
Identifying, quantifying, monitoring and reporting market risks to traders and senior management.
Daily production of risk report (position, profit and loss, profit and loss attribution, daily Value at Risk (VAR), weekly Stress Scenarios).
Controlling, reporting, and making recommendations on risk exposures are central to this position.
Stay informed on regulatory economic changes and issues as well as participate in meetings on issues related to Mercuria's line of business.
Technical qualifications:
Direct experience with Power including FTRs, Physical flows and Transmission across the various ISOs. Experience with environmental products and scheduling a plus.
Excel proficiency required, including VBA
Tableau and OpenLink/Endur experience preferred as well as experience/desire to write code in Python and SQL
Strong analytical skills, including understanding of MTM, derivative valuation, various risk measurement methodologies, Heat Rate Option modeling, physical imbalances, and NPV analysis
Soft skills:
Good communication skills (ask questions, inquisitive willingness to learn, status reporting, etc.).
Attention to detail, disciplined approach to projects and meeting all deadlines.
Ability to handle fast paced environment, multitask and prioritize appropriately.
Ability to learn quickly.
Profile:
Bachelor's degree in business, finance, accounting, engineering, computer science or quantitative subject is required
Minimum of five (5) years of experience in middle office, product control, market risk type functions with direct responsibility for daily pnl, position, risk reporting to traders and senior management in a trading shop environment for physical and financial energy products, with preference for physical natural gas markets.