Senior Analyst, Risk Control
|Title:||Senior Analyst, Risk Control|
|Department:||Accounting & Finance|
Midcoast Energy is a fast-paced, full-service midstream business with headquarters in Houston, Texas. Approximately 600 employees strong, we are committed to the safe and reliable processing and transportation of natural gas and natural gas liquids across Texas, Oklahoma and Mississippi.
Since becoming an independent midstream company in 2018, we are relying on every employee to make a difference. Our employees make an impact on day one with opportunities to weigh in on complex challenges. We are looking for team members who want to roll up their sleeves and make a difference. Our team enjoys competitive benefits for themselves and their families and an exciting place to work.
If you want to be challenged, learn, grow your career and be a part of building a great company, please apply!
The Risk Control Analyst is responsible for analyzing, assessing, modeling, monitoring and reporting the market risk for the MLTM, MMUS, and AL Midcoast Marketing business units. Under direction of the Manager, Risk Control and Credit, the incumbent will provide oversight and support of the business unit risk reporting metrics, policies, and compliance with best practices, SOX, and US GAAP principles. The Risk Control Analyst will work closely with members of front, mid, and back office in order to assure compliance with Midcoast Risk policy and provide regular and ad-hoc reporting.
- Provide critical thinking around the risk reporting processes, quantification, and analysis of commodity exposure and forward price movements for Midcoast’s Marketing activities. Accountable for explanations of daily, weekly, and monthly changes in forward profitability, exposure, and Value at Risk (VaR)
- Review, calculate, analyze and accurately report all required business unit and corporate risk metrics, including Mark-to-Market (MTM), Net Open Positions, Cash Flow at Risk (CFaR), and other limits or metrics as defined in the Risk Policies. Provide explanations to inform risk report audience of relevant drivers of market movements and impacts on commodity positions/MTM/VaR in “plain English”
- Analyze each product offering/contract and verify that all risk components have been identified and appropriately valued
- Maintain, enhance, and review the risk models; test new risk calculations, evaluate model assumptions against fundamentals, identify and communicate suggested modeling/valuation enhancements as a result of increased levels of market information or fundamental changes Enlist management support from the Manager, Risk Control and Credit and front office or others as required prior to implementing changes
- Review ETRM system deal modeling for complex or structured deals, valuation models and forward price curves to ensure the most representative data is reported each day; Evaluate storage and transport models to achieve better valuation and risk quantification and communicate effectively with front office, scheduling, and accounting groups on inputs and assumptions
- Maintain objectivity, independence, and a Risk Control perspective in all situations.
- Support, identify and assist in the implementation of process improvements, from enterprise level system implementations to desk level processes
- Assist with the implementation of Enuit implementation for the natural gas marketing business and the upgrade of Right Angle for the liquids marketing business
- Build market intelligence for the group by daily review of industry publications, subscribing to webinars and attending conferences
- Assist in the application of commodity risk policies consistent with supporting the overall Business Unit and Corporate strategies. Maintain a Risk Control perspective in subjective situations
- Ensure continued maintenance of desk procedures for NGL Risk Control processes and activities
- Responsible for informing the Manager, Risk Control and Credit of any risk policy exceptions, performing research to support determination if Risk Policy violations occurred, and preparing draft write-ups
- Monitor timely deal capture and other risk policy requirements to ensure the representativeness and integrity of transactions in the risk system
- Support monthly financial reporting process for Business Unit through review, reconciliation and financial variance analysis of commercial transactions. Manage key interfaces with Risk Accounting and Commodity Accounting
- Conduct reconciliations against reporting output from ETRM systems and various other financial applications within the business units
- Assist with audit engagements when necessary and ensure SOX compliance with all requirement
- Participate in special projects as assigned
- Bachelor’s Degree in Accounting, Finance, Economics or related discipline
- Minimum of 5 years of industry experience or equivalent/relevant experience
- Extremely strong analytical skills and attention to detail. Must be able to meet daily and monthly reporting deadlines in a fast-paced, team environment
- Strong systems experience, (Right Angle, Endur, Enuit, Excel, Word)
- Sound knowledge and understanding of energy trading markets and associated risk exposures, particularly NGLs and Natural Gas
- Ability to effectively communicate with internal customers
- Ability to prioritize and field multiple duties and requests
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