What are the responsibilities and job description for the Analyst, Senior Risk Control position at Enterprise Products?
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include : natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and import and export terminals; crude oil gathering, transportation, storage and terminals; petrochemical and refined products transportation, storage and terminals; and a marine transportation busines that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership's assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity.
Make the most of your talents in a fast-paced environment driven by people who strive for achievement. Enjoy corporate strength, stability, and a rewarding career at a growing industry-leading and diverse operating company with a track record for success. Tap into the professional possibilities of Enterprise Products Company.
The Senior Risk Control analyst within the Derivatives Accounting team is responsible for performing multiple derivatives and hedge accounting tasks in support of several Enterprise Marketing and Asset businesses. Other responsibilities include, but are not limited to :
- Coordinate with Marketing, Financial Desk, Treasury and other departments regarding commercial commodity transactions to understand strategies and risk management objectives, monitor volumetric forecasts, and timing performance in order to apply the appropriate US GAAP accounting treatment to derivative transactions
- Work closely with Physical Volume Accounting and Risk Control departments to incorporate financial derivatives gains and losses into NGLs, refined products, petrochemical, crude oil and natural gas business segment financial results
- Support hedge documentation including strategies, objectives, business purpose, and method of implementation, effectiveness tests, and backtesting results in order to ensure compliance with accounting rules for derivatives and hedge accounting
- Complete retrospective and prospective effectiveness tests using statistical regression analysis to ensure that designated hedges continue to meet the highly effective criterion
- Maintain tracking transaction logs according to products, strategies, and other differentiating attributes to determine the proper recognition timing of financial trades
- Perform volumetric analysis to ensure that forecasts used for hedging purposes are reasonable and probable based on commercial expectations and historical results
- Create journal entries to record derivative transactions into the general ledger system and prepare balance sheet reconciliations to ensure the validity of financial positions and operating results
- Update lead sheets and supporting schedules necessary to complete the monthly close processes and quarterly financial derivatives footnotes, and disclosures
- Assist internal and external auditors in the quarterly reviews and annual audits of all derivatives documentation, analysis and financial statement footnotes and disclosures
- Prepare daily margin analysis and settlements with exchange clearing brokers (NYMEX, ICE, etc.)
- Validate, reconcile, and process payments for exchange and over-the-counter broker fees for all commodity financial trades
- Maintain transaction data interfaces / uploads, reference data, and other custom configurations for the hedge accounting system
- Assist in completing the daily and monthly end-of-period processes used to generate financial positions, mark-to-market valuation results, and journal entries for monthly profit & loss reporting
- Maintain commodity prices and interest rates for historical, spot and forward periods by commodity, location and index for use in valuing transaction data in multiple systems of record
- Assist in reconciling financial derivative trades from internal systems to clearing broker statements and confirmations
- Analytical review of how changes in the economic environment impact derivative results, with a focus on continuous improvement and automation opportunities
- Support hedge accounting initiatives, SEC and internal management reporting related to derivatives, and the planning process for these investments
- Assist in the preparation of derivative sections of quarterly / annual SEC filings (10Q / 10K)
- Work with Risk Control – Liquids on various RightAngle re-implementation initiatives which concern financial derivatives
- Assist other Derivative Accounting team members in an Excel integration project that streamlines daily, weekly, monthly and quarterly reporting
Requirements
The successful candidate will meet the following qualifications :
