This role is for Trade Control Manager - Commodities within the Middle Office (TRACO) unit, involved in day-to-day trade control activities, particularly around oil trading activities.
The role will work closely with a number of other departments, in particular Front Office (FO), IT, Market Risk (MR) and Back Office (BO) and other departments. The Trade Control team performs daily price and transaction validation and controls activities and will work very closely with the Front Office and other streams within Middle Office.
MAIN JOB FUNCTION
The job holder will have a "transaction focus" to ensure that the post-trade controls around the trading business are timely and accurate in their completion. This ensures strong data integrity through daily validation of transactions, price verification, mandates control, market conformity controls, as well as working with internal and external audit teams to ensure full compliance with procedures.
KEY RESPONSIBILITY AREAS
The main duties and responsibilities of the job holder are:
Manage the Trade Control (TRACO) commodities team to perform the activities across all commodities related to contract validation, deal reconciliation, futures management expiry, internal trade reporting, curve validation, SOX controls, market conformity checks, mandate checks, TRACO risk assessments and broker reconciliation.
Ensure that procedures are operated in a timely, accurate and consistent manner so as to avoid risk/financial exposure to the company.
Ensure day to day consistency in the TRACO activity across the trading regions and where required utilise TRACO team to support other regions to ensure the activities are completed.
Guarantee the necessary activity related to the month-end, quarter-end and year-end checks are completed across the commodities.
Support the cross commodity end of day process in the relevant ETRM systems guaranteeing the timely generation of Position and PNL reporting;
Escalate where required breaches of limits identified via the daily activities as outlined is relevant trading procedures.
Support the weekly, monthly and quarterly reporting KPIs/KPIs that are produced either by TRACO or where agreed other functions.
Ensure compliance with all internal and external regulation and where required liaise with the SOX and External auditors on queries and clarifications on the controls performed
Support automation efforts being delivered across the business and also identify opportunities to further develop automation and efficiencies.
Work with the TRACO Manager - Reporting & Exchanges and TRACO manager to identify systems or process deficiencies impacting day to day activities with the objective to resolve and improve.
Build and maintain good working relationship with internal (FO, BO, Risk, IT, Finance, Sox, Audit, Compliance etc) and relevant external stakeholders (auditors, clearers, brokers etc);
Act as a back-up to the TRACO manager where required in their absence.
Support/deliver TRACO identified projects
Support ETS/ENI projects where an SME is required from TRACO
This position reports to the Trade Control Manager and has the following main interfaces:
INTERNAL: Front Office, Back Office, Accounting, IT, other Middle Office units; Operations, Finance.
EXTERNAL: Clearing Houses, Brokers; Auditors, relevant industry contacts.
Relevant experience a trading environment either from within a Trade Control/Product Control role or where there is a deep understanding of the trading lifecycle and trading procedures
Strong understanding of the commodities markets (Oil, Derivatives, Gas, Power, Emissions & LNG)
Knowledge of vessel chartering, shipping or bulk commodity movement;
Advanced knowledge of risk metrics and internal control systems applicable for trading commodities
Knowledge of control processes applicable in a trading / regulated environment;
Highly organised, good attention to detail and ability to work with tight deadlines;
Analytical mind and good numerical skills;
Self-disciplined, dedicated and stress-resilient;
Innovation, pro-activity and efficiency, dedication and result oriented approach to work;
Strong communication skills with the ability to build and nurture effective relationships internally and externally
Flexibility and adaptability to work in a fast paced and adapting environment;
Knowledge of one or more of IT systems would be an advantage (Endur, Qlik-view, Symphony by Amphora).
Strong and solid knowledge of Microsoft Office suite including excellent Excel and VBA skills, Matlab knowledge a plus;
Full command of English language (spoken and written). Knowledge of Italian would be beneficial
Strong academic credentials with a numeracy-oriented specialization, preferably Finance or quantitative discipline
Controls oriented mindset;
Flexibility and adaptability to work in rapidly changing environment,
Good team worker and have an experience of working in an international and multi-location organization;