Confirmations and Contract Analyst
|Title:||Confirmations and Contract Analyst|
|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 Confirmations and Contract Analyst is responsible for administrative and analytical activities related to the confirmation and contracting process for natural gas, natural gas liquids (NGLs) and Condensate, largest percentage of contract volumes the result of daily Hub trading.
- Review of deal entry of Hub/Spot contracts into the Right Angle and Enuit system(s), sending/receiving and verifying confirmations to/from 3rd parties as well as administrative tasks for MLTM, L.P. and Midcoast Marketing (US) L.P.
- Will be primary contact with internal and external customers regarding commercial points of transactions and resolving index and fixed pricing disputes
- Responsible for handling various types of contracts including Intercompany, Access, Fractionation, Freight and Storage agreements
- Support the business unit risk management policy and key SOX controls through the administration and confirmation of internal and external commercial transactions
- Review contract terms in the Right Angle and Enuit system(s) and trade logs to confirm accuracy with third parties and to facilitate accurate billing and scheduling
- Assist Accounting in reconciling invoices
- Ensures all transactions are in compliance with Risk Policy to ensure business is conducted within the risk tolerance limits
- Ensures that all contracts are in compliance with procedures established by the legal group for MLTM
- Assists and supports counterparty credit related activities
- Sends & receives new agreements, amendments, confirmations and correspondence
- Proactive in obtaining mutually agreed General Terms and Conditions and Master Agreements
- Create new Business Associates in Right Angle, Enuit, and Oracle when necessary
- Responsible for handling daily pricing worksheet and MLTM pricing notices
- Ability to make decisions within the prescribed limits of authority in the absence of supervision
- 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
- Monitor timely deal capture and other risk policy requirements to ensure the representativeness and integrity of transactions in the risk system
- Assist with audit engagements when necessary and ensure SOX compliance with all requirements
- Performs other duties as assigned but not specifically identified above
- Maintain objectivity, independence, and a Risk Control perspective in all situations
- Participate in special projects as assigned
- Must be able to work occasional overtime as required
- 3 - 5 years of Natural Gas and Natural Gas Liquids industry contract administration, & understanding of industry terminology
- Bachelor’s Degree in Accounting, Finance, Economics or related discipline preferred, or equivalent combination of education and experience
- Strong systems experience, (Right Angle, Enuit, MS Excel, MS Word, MS Access)
- Meticulous and thorough data entry skills, especially in a fast-paced environment
- Fundamental knowledge and understanding of contract terms
- Excellent written and verbal communication skills
- Ability to effectively communicate with internal and external customers
- Ability to prioritize and field multiple duties and requests
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