• Manager, Financial Trading

    Job Locations US-MA-Andover
    Job ID
    2018-5735
    # of Openings
    1
    Category
    Energy Management
  • Overview

    The Manager of Financial Trading will be liaising with the Headquarters in Italy and with correspondent Global function to manage the start-up of the Commodity Trading Back Office activities. Responsible for business transactions and decisions and interact with a diverse group of people within accounting, information technology, traders and risk management, leading different improvement projects and proposing up to date solutions for an advanced and efficient Financial Back Office.

    Responsibilities

    • Demonstrate deep knowledge of the energy industry with a key focus on renewables and the North American power market, including transactions on ISO markets and commodity exchanges and bilateral deals.
    • Setup the Trading Back Office activities liaising with the Headquarters in Italy and local teams.
    • Oversee daily, weekly and monthly settlement of physical and financial trading activities (Accounts Payable/Receivable).
    • Approve weekly and monthly invoices with validated power generation and price detail for energy customers and hedge counterparties in accordance with contractual provisions.
    • Coordinate with counter-parties to proactively and timely resolve invoice reconciliation discrepancies.
    • Demonstrate expertise with settlement software and ability to navigate the system(s).
    • Oversee monitoring of power transactions to ensure they are correctly captured in the transaction management system.
    • Manage monthly and annual financial performance reporting.
    • Ensure accuracy and integrity of activity recorded in general ledger.
    • Ensure optimization of the financial exposure, particularly referring to collateral, margining and cash deposits, liaising with Global Credit risk function in order to apply Global Credit risk procedure. .
    • Review and approval of month end close accounting entries and account reconciliations.
    • Provide support for projects, market compliance, regulatory filings, ad-hoc reporting, audit inquiries, and process improvements, and perform compliance reporting activities.
    • Oversee the data collection and reporting assistance during internal and external audits.
    • Understand the market structure and build relationships with internal and external counter-parties, traders, position managers, operations and other areas.
    • Understand contract details, fees, rates, and payment schedules to ensure all items for settlement are captured in a timely manner.
    • Stay current on national and local market drivers for Energy and Renewable Energy Credits.
    • Provide reports and create presentations providing project and financial updates as needed.
    • Identify, recommend and implement process improvements around Financial Back Office processes, in coordination with other Business Units of Energy Management.
    • Be knowledgeable of and ensure compliance with trading standards and other compliance requirements.
    • Support the development and improvements of IT systems to capture and manage trading activity

    Qualifications

    • General accounting knowledge of payables, receivables, accounting for derivatives
    • Bachelor's degree in Accounting, Finance or Business OR Associates Degree in Accounting, Finance or Business with 4-6 years of experience in Accounting or Business
    • Strong analytical, critical and economical thinking and problem solving skills
    • Strong communication skills in a team-oriented, open work space environment
    • Ability to multi-task, grasp complex issues, as well as pay strict attention to details
    • Proficient with Microsoft Office applications including MS Excel, SAS and SQL.
    • The ideal candidate will be a self-starter with a solid understanding of power markets and deal flow
    • The ideal candidate will have experience with FTR settlements.
    • Strong communication, analytical and interpersonal skills are critical, as well as a solid foundation with the MS Office Suite, and more specifically Excel. Experience with OATI and power ISOs is required.
    • Understanding of energy commodity markets and regional power system operators (e.g. PJM, ERCOT, NYISO, SPP, ISO-NE, IESO, etc.)
    • Business related experience in energy companies or Investment banks
    • Knowledge of commodity trading and trading fundamentals in power industry
    • Commodity Settlement experience

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