Risk Analyst
Job Title: Risk Analyst FLSA: Exempt
Department: Middle Office Location: Houston, TX
Reports to: Head of Risk
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POSITION SUMMARY:
The Risk Analyst at Tauber Oil serves as the first line of defense for the organization as it relates to assessing our portfolio’s risk profile within the markets we operate. Ensuring that all trades are properly captured and valued within RightAngle allows for daily reporting of profit and loss changes, net positions, open positions, and other information. The group monitors and reports on our daily limits using reports directly generated from RightAngle, therefore ensuring compliance across both internal and external policies.
RESPONSIBILITIES:
The following list of responsibilities, while not exclusive, are set to assist the risk department in meeting the objectives of the team:
Daily:
- Validate contracts for accuracy (check price formulas/volumes/conversions etc.)
- Monitor position limits and report when limits are exceeded
- Prepare and review daily deals sheet
- Pro-actively communicate with colleagues when new products are traded
- Enter daily, weekly and monthly prices & exchange rates that are not automated
- Report and monitor flat price position
- Report and monitor day-over-day P&L changes of designated department(s) broken
down between Curveshift, New Deals, Costs and Operational Changes
- Monitor RightAngle transfers of designated department(s)
- Report current position/P&L to trader(s) to catch any abnormalities as a 2nd check daily
- Review incomplete report monthly
- Verify WACOG accuracy within RightAngle
- Provide monthly P&L on 7th WD (1-day after system close)
- Review monthly closing reports and take corrective action (as needed)
- Ensure Financial transactions are properly closed out before expiration
- Reconcile Financial transaction with broker statement
- Reconcile monthly P&L with Accounting for designated departments
Ad-Hoc:
- Ensure proper curve configuration for price curves
- Create/modify market and forward curves
- Identify system inefficiencies and rectify
- Research existing processes and amend as needed
- Mitigate cost lag (freight entered late etc.)
- Automate manual price entry (via scripting or subscription feed)
- Maintain holiday and delivery period calendars
- Train other personnel on RightAngle best practices to assist with correcting MTM data
The objective of the responsibilities below is to identify and assist the risk department with assessing and addressing concerns in the following areas:
- Monitoring new contracts and ensuring timely entry into RightAngle.
- Reviewing pricing formulas on deal entry and market valuations for accuracy
- Proper price service subscriptions for contract settlement are obtained
- Full trade economics are captured within RightAngle
- Day-over-day changes in position and P&L are properly reported
- Traders, Risk and Accounting are aligned with results
- Accounting to reconcile close results with risk using P&L attribution report
Education:
Bachelor’s Degree in Accounting, Finance, Economics, or related discipline highly desired; however, in lieu of degree, candidates with 4+ years of commensurate work experience will be considered.
Experience:
- 2-5 years industry experience in financial or energy trading environment
- Commodity Risk experience within NGL’s, Chemicals, Diesel, Gasoline or Carbon Black Feedstocks highly desired.
Additional Skills, Attributes and Abilities:
- Highly proficient in Microsoft Excel, particularly with pivot tables
- ETRM system experience in RightAngle
- Adequate understanding of derivatives used for hedging
- Demonstrated understanding of market exposure and mark-to-market reporting
- Organized and detailed-oriented
- Strong problem solving and critical thinking skills
- Self-motivated and a pro-active approach
- Ability to interact with all levels of colleagues and management team
