What are the responsibilities and job description for the Middle Office Analyst 2 or 3 position at NW Natural?
Middle Office Analyst 2 or 3
Non-Union Position
Accounting - Mid-Office; PORTLAND, Oregon (US-OR)
Hybrid schedule available for Oregon & Washington residents.
Regular FT
Posting # 5047
About Us :
At NW Natural, we offer more than rewarding career opportunities and a vibrant, inclusive work culture. We invite you to join us in providing safe and reliable utility services and renewable energy to better the lives of the communities we serve. Our vision is to be the leader in service excellence, innovation and environmental stewardship for our customers, while building on our strengths as a trusted energy provider and environmental leader for our industry.
In addition to environmental stewardship, We’re also deeply committed to Diversity, Equity and Inclusion at NW Natural. Our DEI Council started 21 years ago, and today we continue to foster a culture where all employees can experience a sense of belonging, shared purpose and possibility.
The Role :
This position is responsible for administration of the Financial Risk departments middle office functions including implementation of, and compliance with, the Company’s financial risk policies, SOX compliance, processes, and procedures principally related to derivatives, natural gas commodity contracts, and environmental contracts, along with associated analysis. Functions include trade validation and confirmation processing, energy wholesale credit, energy contract administration and some quarterly derivative accounting. The position coordinates activities in and outside of the Allegro ETRM (Energy Trading & Risk Management) system, including the Allegro mark-to-market valuation, and related reporting. This position coordinates activities with the Gas Supply and Gas Accounting departments, along with suppling other departments information on Middle Office activities. This position also supports department activities in quarterly SEC reporting, among other duties as assigned.
Day to Day :
- Assure compliance with the Company’s established financial risk policies and procedures.
- Design and maintain an effective internal control structure over transactions.
- Facilitate derivative policy and SOX controls implementation and review.
- Daily use of Allegro system for use in regular duties; increasing functionality and troubleshooting.
- Review and approve all physical and financial transactions to ensure compliance with relevant Company policies, procedures, and SOX controls.
- Identify weaknesses and opportunities for enhancement in the control environment; develop solutions and implementation of strategies.
- Perform Middle Office functions including deal validation, confirmation, valuation, contract administration, and energy physical and financial derivative credit approval and monitoring.
- Foster a cooperative working relationship with other departments.
- Flexibility to move quickly between tasks and address changing critical requests on an ongoing basis, including inside and outside the department, with a positive attitude.
- Attention to detail in a fast-moving environment during tight windows between available data and deadlines.
- Coordinate with management initiatives of the Gas Supply Strategy and Policies Committee.
- Ongoing and new project management duties as new Company and department initiatives arise.
- Perform calculations of MTM and credit exposure for physical and financial gas transactions.
- Assist in selection, development, implementation, and upgrade of systems to ensure accurate, timely, and complete information flow and reporting, including ETRM system upgrades.
- Assist in the credit and contract administration and review of various contracts to ensure compliance with the Company’s objectives, policies, and SOX controls.
- Implement contract terms and facilitate contract approval process. Initiate, coordinate, new NAESB and ISDA, or other master contracts or modifications to existing contracts in coordination with other departments as requested. Ensure new contracts are compliant with existing Company policy and risk tolerance.
- Monitor and report on Company's derivative counterparty credit risk exposures. Maintain and enhance credit exposure tracking and reporting.
- Provide valid evidence of business activity as part of compliance and reporting duties.
- Coordinate and maintain contracts subject to ASC 815 (FAS133).
- Maintain and operate Financial Risk applications and models.
- Other Middle Office related duties as assigned.
- Supports Company’s commitment to a culture of safe work practices.
Come on your first day with :
What we offer : Health & Wellness –
Work Life Balance -
Financial -
Discounts -
Base salary range : $79,500.00 - $109,100.00 (Level 2) or $96,000.00 - $136,800.00 (Level 3) per year, depending on qualifications
Annual Target Incentive : Level 2 , 9.5% target
Level 3, 9.5% target
Targets are calculated using eligible earnings during plan year participation. Payout, if earned, is based on company and individual performance for each plan year and may range from 0% – 200% of target. Targets are subject to change in subsequent plan years. Must be employed by September 30 in order to receive any prorated payout.
Application Process : To be considered for this position, submit a complete electronic application including cover letter and resume via our website.
https : / / www.nwnatural.com / about-us / the-company / careers
Deadline : 3 / 13 / 25
Disclosure : We are a drug free workplace and we comply with Federal Drug Free Workplace Act and Department of Transportation regulations.
All applications must be submitted through NW Natural’s Electronic Application System. Resumes submitted via email, fax or mail will not be accepted in lieu of an electronic application.
NW Natural is proud to be an equal opportunity employer. We welcome and embrace our candidates’ diversity and take affirmative action to employ and advance individuals without discrimination on the basis of race, color, sex, gender identity or expression, sexual orientation, religion, age, physical or mental disability, veteran status, pregnancy (including childbirth or related medical conditions), national origin, marital status, genetic information, and all other legally protected characteristics. We forbid discrimination and harassment in the workplace based on any protected status or characteristic. A criminal history is not an automatic bar to employment with NW Natural. Instead, we make individualized assessments regarding qualifications and backgrounds. NW Natural is also committed to providing reasonable accommodations for individuals with disabilities, individuals with sincerely held religious beliefs, and disabled veterans in our job application procedures. If you need assistance or an accommodation as part of the application process, please contact us at employment@nwnatural.com or (971) 979-6341.
NW Natural does not accept unsolicited submissions or assistance from search firms for posted positions. Resumes submitted by search firms working under a valid and current written contract with NW Natural valid written Statement of Work in place for this position from NW Natural HR / Employment will be deemed the sole property of NW Natural. No fee will be paid in the event the candidate is hired by NW Natural as a result of the referral or through other means.
Salary : $79,500 - $109,100
