Energy Derivatives Manager
JOB RESPONSIBILITIES
- Responsible for setting up processes and controls for the derivative operations function for Oil, Gas, Power, Emissions LNG.
- Manage the relationship to: the exchanges e.g. ICE; external brokers; and, client services;
- Advise traders on clearing methods, models, and processes;
- Daily clearing broker reconciliations for all Futures, OTC Cleared and EFP Trades. 4-way check between Clearing Broker Statement / Symphony (ETRM) / Broker recaps / Trade Blotter – Retain signed evidence for audit purposes;
- Review clearing agreements, commission schedules and credit margin facility terms and conditions; advise on changes required to minimize costs and working capital;
- Daily clearing broker position reconciliation e.g. All 'open' trades in Symphony vs BNP 'open' position (CSV) file. Retain signed evidence for audit purposes. Maintain Symphony 'Reference Data' and check 'Balance of Month' (BALMO) mappings;
- Daily Head Office Reconciliations – check trades vs Crude Blotters (Paper Traders);
- Manage the 'Monthly Expiry Report' for exchange futures, e.g. Brent, Gasoil, RBOB. Confirm with Trading Desks, confirm with clearing broker, and manage any closeout trades / physical deliveries (EFP’s) in Symphony (ETRM);
- Daily reconciliation of all fees, commissions rebates: exchange fees, execution broker commissions and clearing broker fees;
- Reconcile monthly execution brokerage invoices to Symphony – resolve any discrepancies with traders, and/or the broker, and pass to settlements for payment;
- Calculation and validation of the variation margin and initial margin calls (payments)/credits;
- Verification of realized positions, PLs, and settlement curves (Clearing Broker Statement vs Symphony);
- Provide Finance team with: the daily realized/floating paper PLs; and, reconciliation of realized PL with Finance team on a monthly basis (UK GAAP);
- Issue a daily 'Paper PL and Position' report to Head Office;
- Prompt resolution and follow up of any (reconciliation) discrepancies on a daily basis keeping relevant stakeholders informed and updated;
- Maintenance of Execution / Clearing Broker Commissions, and Exchange fees in Symphony;
- Daily monitoring of Symphony 'Exchange Monitor' and maintenance of Symphony template trades (for Straight Through Processing).
QUALIFICATION REQUIREMENTS
Education - Degree Qualified
Professional Background
- Leadership management
- Relationship Management skills
- Possess strong analytical skills.
- Self starter, able to work with minimal supervision.
- Strong excel skills.
- Any previous analytical experience gained within a trading environment may be particularly advantageous.
- Any previous experience in Oil trading contracts would also be advantageous as the incumbent may be required to provide ad-hoc assistance on confirmations.
Working Experience
- Minimum 7 years direct experience in Oil Trading/Energy company
- 3 years experience is qualified.
Other Requirements
- Partnership Approach – ability to work with others to accomplish group goals and implement process changes. Demonstrated teamwork inside and outside immediate area of responsibility
- Communication Skills – initiates communications within the business to learn and share knowledge and follows up to ensure message is received. Ability to communicate well with front, mid and back office personnel as well as Senior levels of management. Listens attentively, seeks to understand others viewpoints, and tests for understanding.
- Organization Skills –ability to prioritize multiple tasks to meet deadlines in a fast-paced environment. Experience with managing daily/monthly/quarterly duties with on-going projects and communicating the status of assignments.
- Developmental Skills – ability to develop oneself and others, to develop and evolve Risk Management processes and reports.
***Oil Recruitment has been working with some of the world’s leading banks, trading companies, major oil companies and utilities within the energy trading arena since 1998. We work on roles in trading, broking, risk, credit, quantitative analysis, consultancy, shipping, chartering, operations and contract analysis across the upstream and downstream energy markets in crude, oil products, gas, power and carbon.
To learn more about our business and to see details of our other vacancies visit www.oilrecruitment.co.uk
Leave a Reply
You must be logged in to post a comment.