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Manager, Financial Trading in Andover, MA at Enel Green Power North America, Inc.

Date Posted: 12/17/2018

Job Snapshot

Job Description

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.

  • 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
  • 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