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Cleco Mgr - Commodity Risk Mgmt & Controls in Pineville, Louisiana

Depending on the volume of applications, this position may close to external applicants before the job posting end date expires.

Becoming the leading energy company in Louisiana - helping our people and state thrive - means being mindful of the larger opportunities and evolving needs of all those we serve. So today at Cleco, we’re working from a view that starts behind the lines. Where we can see the full picture of possibilities and technologies. To line up our customers and communities with systems and services that power the good life today. And better lives tomorrow. We’ve always believed that electricity is something more than just electrons. To us, it’s the fuel for more productive days and work. The current that brings all of us closer together. The conduit that connects Louisiana’s present to Louisiana’s future.

The Manager-Commodity Risk Management & Controls leads the activities to develop, enhance, provide oversight to Cleco’s commodity governance and controls to help ensure Cleco and its subsidiaries meet financial objectives. This includes management of the daily ETRM software lifecycle. The incumbent leads definition of processes for operational control oversight of commodity transactions for transaction management, risk measurement and validation, exposure monitoring and financial reporting and assures adherence to market and credit risk management policies, procedures, controls and limits. The incumbent manages periodic review and updates to all risk management policies, procedures, controls and limits. The role develops and manages procedures for SOX and operational risk controls and integrates training programs on risk management and controls.

Responsibilities:

  • Lead the control and governance structure for segregation of duties between front office, middle office, and back office functions.

  • Lead development and implementation of commodity operational risk control procedures

  • Manage independent monitoring and risk validation of commodity transactions and portfolio risk exposure

  • Maintain dialogue with front office, back office, legal, compliance finance functions, and quantitative risk analytics regarding commodity transactions, transaction delegation of authority and risk limits

  • Define and enhance Energy Trading and Risk Management (ETRM) software and integrated data and systems requirements and integrate ETRM systems into commodity control processes with an eye on continuous improvement

  • Develop regular training programs and promote collaboration and knowledge sharing with other functions e.g. front and back office

  • Maintain compliance with risk related SOX, CFTC, MISO, FERC and operational controls

  • Respond to inquiries and prepare documentation for internal and external audit

  • Assist with review of 10Q and 10K disclosures & and regulatory support

  • Support other risk management initiatives, as required

  • Manage the timely and accurate booking of commodity transactions in the ETRM system of record

  • Investigate and report violations with delegation of authority, price curve, or transaction entry errors

  • Appropriately lead/support structuring and valuing new transactions types, strategies and price indices in ETRM systems to assure the accurate recording, valuation, financial reporting and risk oversight

  • Monitor and manage transaction classification for FASB Hedge or Derivative accounting treatment, providing accurate documentation of FASB and Dodd-Frank testing of embedded derivatives and hedge effectiveness testing

  • Identify and integrate new systems processes and advanced technology to enhance controls and commodity lifecycle management

  • Perform periodic and ad-hoc counterparty credit and collateral exposure reviews

  • Develop appropriate desk and executive level risk and performance reporting leveraging the latest data analytic and business intelligence tools and techniques

  • Support the Vice President of Risk Management with periodic review of risk management policies, procedures, processes, controls and limits, maintaining and updating Risk Policies and Procedures

  • Liaise with legal team for review of new commodity contracts

  • Manage compliance/reporting of commodity transactions with regulatory (CFTC and Exchange) requirements

  • Manage team performing commodity control activities

  • Develop solid business relationships becoming a trusted source for front office, controllership, back office reporting, and internal audit functions for matters related to commodity transactions recording and reporting

  • Liaison with quantitative risk to analyze transactions and support reporting of risk metrics

  • Mentor staff and cross train on risk controls

  • Serve as escalation point for team to manage risk to daily activities and ensuring business expectations, goals and objectives are understood and met

  • Scope of work is at an enterprise level, with accountability for commodity controls for each subsidiary, ensures alignment with other business functions

  • Responsible for leading staff and stakeholders to perform commodity control functions

  • Responsible for challenging front office when issues arise; provide support to VP Risk Management as needed for any investigations

Behavioral Competencies:

  • Action Oriented

  • Collaborates

  • Decision Quality

  • Drives Results

  • Ensures Accountability

  • Instills trust

  • Manages Complexity

  • Nimble learning

  • Persuades

  • Plans and Aligns

  • Safety

  • Self-Development

Technical Competencies:

  • Financial Modeling

  • Financial Reporting & Data Analysis

  • Industry and Business Knowledge

  • Planning, Forecasting & Budgeting

  • Risk Management

Education / Experience:

  • Master’s and/or bachelor’s degree in Finance, Business, or related field

  • 7+ years of related experience in Commodity Control & Governance

  • 4+ years people management experience

  • Experience and ability to lead commodity control staff

  • Experience with ETRM systems required

  • Knowledge of gas, coal and power transactions and MISO power market preferred

  • Core knowledge of commodity control principles, and leading practices in commodity life cycle management

  • Strong analytical and critical thinking skills to understand commodity transactions and interpret how the transactions mitigate risk and achieve business goals

  • Ability to manage high workloads and conflicting priorities

  • Ability to operate effectively and proactively with an ability to negotiate and influence to support seamless execution

  • Excellent verbal and written communication skills

  • Drive issues to resolution while maintaining an atmosphere of collaboration

  • Act decisively while thinking strategically

  • Ability to exercise sound judgment with little direction/guidance but know when to escalate issues

  • Excellent knowledge of MS Excel, preferably with VBA programming

Cleco is a privately owned regional energy holding company with two primary businesses. Cleco Power, our regulated electric utility business, owns ten generating assets with a total nameplate capacity of 3,357 megawatts and serves approximately 290,000 customers in Louisiana through its retail business and supplies wholesale power in Louisiana and Mississippi. Cleco Cajun, our unregulated electric utility business, owns eight generating assets with a total nameplate capacity of 3,555 megawatts and contracts that serve nine Louisiana cooperatives, five wholesale municipal customers and one electric utility.

In business since 1935, Cleco has deep roots. For more than 85 years, Cleco has kept pace with the ever-changing energy industry to serve its customers. Our corporate office is in Pineville, La. We have offices and 1,500 employees across the state near major cities like New Orleans, Baton Rouge and Shreveport. If you like great music, food and nature, with a dash of eccentricity, then Louisiana is a good place to call home.

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