Middle office

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The Middle Office Advisor leads activities to provide governance and control oversight to ensure adherence to market and credit risk management policies, procedures, controls and limits, and acts as a Middle Office thought leader for the company.

The incumbent leads the definition of processes for operational control oversight of commodity transactions for risk validation and monitoring.

The incumbent manages periodic review and updates to all Risk Management policies, procedures, controls and limits. The role develops and manages procedures for SOX and operational risk controls.

The incumbent serves as a mentor for and provides day-to-day guidance to staff with Commodity Control responsibilities.

Key Responsibilities

• Lead the control and governance structure for segregation of duties, front office and middle office; maintain segregation of transactions and reporting across the business
• Oversee development of operational risk control procedures; manage the independent monitoring and risk validation of commodity transactions
• Partner with front office and quantitative risk regarding commodity transactions, transaction delegation of authority and risk limits usage;

maintain compliance with risk related SOX and operational controls as well as conformance with hedge programs and strategies as approved by the Energy Market Risk Management Committee (EMRMC)

• Develop regular training programs and promote collaboration and knowledge sharing with other functions, e.g., front and back office
• Respond to inquiries from internal and external audit; assist with review of 10Q and 10K disclosures; manage the timely and accurate booking of commodity transactions in the ETRM system;

investigate and report violations with delegation of authority or transaction booking errors

Support the EMRMC and Treasurer with periodic review of Risk Management policies, procedures, processes, controls and limits, maintaining and updating Risk Policies and Procedures;

perform periodic and ad-hoc credit reviews; participate in and lead discussions at meetings of the EMRMC

• Manage compliance / reporting of commodity transactions with regulatory (CFTC and Exchange) requirements; liaise with legal team for review of new commodity contracts and with quantitative risk to analyze transactions and support reporting of risk metrics
• Define Energy Trading and Risk Management (ETRM) system requirements and integrate ETRM systems into commodity control processes with an eye on continuous improvement;

identify and integrate new technologies / current systems and analytical techniques to enhance / streamline controls and transaction management, and provide additional insights to drive business impact

• Lead process automation and design by identifying areas to reduce routine manual tasks; develop, measure, monitor, and report KPIs, and KRIs on coverage for Cleco stakeholders and various management and stakeholder committees
• Develop solid business relationships by becoming a trusted source for front office, controllership and internal audit functions for matters related to commodity transactions recording and reporting
• Lead team performing commodity control activities; serve as an escalation point for team to manage risk to daily activities and ensure business expectations, goals, and objectives are understood and met
• Manage performance planning, development and coaching / mentoring of team members within the Commodity Control team in delivering exceptional performance with a customer-centric approach
• Champion a corporate culture that emphasizes transparency, integrity, safety, environmental responsibility, employee development, diversity and inclusion, customer service, and operational excellence

Required Skills

• Core knowledge of commodity control principles, and leading practices in commodity life cycle management
• Strategic thinker with exceptional interpersonal skills; ability to work collaboratively with various external and internal groups and upper management
• Ability to negotiate and influence with a consultative approach
• Strong planning, project management, communications, negotiation, writing, speaking, and listening skills
• Strong analytical and critical thinking skills to interpret business, workforce and Finance KRAs / KPIs / metrics into actionable insights and decision making
• Proficient at functioning effectively within a team environment, present ideas and opinions in a respective and collegial manne

Key Result Areas (KRAs)

• Increase daily monitoring of transactions and reporting of violations
• Improve accurate preparation of mark to market
• Improve processes using ETRM systems

Required Education & Experience

• Bachelor’s and / or Master’s degree in Finance, Business, or related field
• 7 years of related experience in Commodity Control & Governance
• Experience and ability to lead Commodity Control staff
• Experience with ETRM systems required
• Knowledge of gas, coal and power transactions and MISO power market preferred
• Excellent knowledge of MS Excel, VBA programming preferred
• This level is based only on availability in approved org design / structure; strict adherence is required
• Progression to this level is strictly restricted based on critical individual capabilities and business requirements

Licenses and Certifications

CFA, GARP ERP, PRIMIA PRM preferred

Key Competencies

BEHAVIORAL

• Attracts Top Talent
• Drives Results
• Balances Stakeholders
• Drives Vision & Purpose
• Builds Effective Teams
• Ensures Accountability
• Business Insight
• Instills Trust
• Communicates Effectively
• Nimble Learning
• Courage
• Plans & Aligns
• Demonstrates Self-Awareness
• Strategic Mindset
• Develops Talent
• Safety

TECHNICAL (Core for Function)

• Financial Modeling
• Industry and Business Knowledge
• Risk Management
• Project & Change Management
• Business Partnering
• Planning, Forecasting, & Budgeting

May perform other duties as assigned.

Last updated : 2024-11-25