What are the responsibilities and job description for the Contract Administrator position at Vitol?
Company Description
Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. From 40 offices worldwide, we seek to add value across the energy supply chain, including deploying our scale and market understanding to help facilitate the energy transition. To date, we have committed over $2.5 billion of capital to renewable projects, and are identifying and developing low-carbon opportunities around the world.
Job Description
The Contracts Administrator’s primary role is to mitigate Economic, Operational, Legal and Regulatory risk associated with commodity transactions. Mitigation is done by drafting and dispatching of contracts reflecting all agreed economic and non-economic terms. In addition, reviewing and confirming broker and counterparty confirmations while promptly escalating discrepancies to Front Office for resolution.
Specific job duties include:
Competencies
Due to the collaborative, fast-paced, and high energy nature of our business, Vitol requires team members to work from our fully-equipped office.
All your information will be kept confidential according to EEO guidelines.
Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. From 40 offices worldwide, we seek to add value across the energy supply chain, including deploying our scale and market understanding to help facilitate the energy transition. To date, we have committed over $2.5 billion of capital to renewable projects, and are identifying and developing low-carbon opportunities around the world.
Job Description
The Contracts Administrator’s primary role is to mitigate Economic, Operational, Legal and Regulatory risk associated with commodity transactions. Mitigation is done by drafting and dispatching of contracts reflecting all agreed economic and non-economic terms. In addition, reviewing and confirming broker and counterparty confirmations while promptly escalating discrepancies to Front Office for resolution.
Specific job duties include:
- Confirm all transactions completed are valid deals; promptly escalating to Front Office of missing or erroneous trades
- Ensure all trade confirmations are drafted, issued, and executed in accordance with procedures.
- Ensure all drafted confirmations incorporate all approved and required terms along with appropriate references to any master agreements (ISDA, EEI, NAESB…etc)
- Checking incoming counterparty confirms for errors and sending responses as needed
- Assuring all broker confirmations are received and matched against trade economics within trading system
- Liaising with Legal, Credit, Operations and other support partners to assure any additional terms are properly incorporated into contracts.
- Actively follow up on outstanding confirmations, escalate and resolve any lengthy delay with Contract Manager and Front Office
- Establish and maintain strong working relationships with Front Office and ensure their questions and request are addressed timely and accurately.
- Provide weekly updates of any outstanding items to Contract Manager
- Make sure all documents, emails and other supporting correspondence are filed in electronic retention system for each trade
- Responding timely to any external queries on confirmations.
- Escalate to Contracts Manager any issues with contract system
- Responsible for updating and maintaining procedures documents
- Proactively identify opportunities to further streamline process and improve productivity.
- Participate in testing of system and process upgrades
- Bachelor’s degree in numerate or semi-numerate subject (engineering, math, accounting, economics)
- Familiarity and understanding of working with contracts and/or energy markets
- 1 or more years experience in trading environment highly preferred
- Portuguese and/or Spanish language skills highly preferred
- Understanding financial implications associated with the movement of physical product
- Ability to assess contractual risk and make decisions accordingly
- Capable of effectively communicating with internal and external contacts
- Document administration in Microsoft Word
Competencies
- Self-motivated and proactive in problem solving
- Highly organized
- Takes the initiative, self-starter
- Works well under pressure / fast pace environment
- Analytical approach to data
- Adaptability
- Seeks to continuously build knowledge
- Excellent communication skills
Due to the collaborative, fast-paced, and high energy nature of our business, Vitol requires team members to work from our fully-equipped office.
All your information will be kept confidential according to EEO guidelines.
