Cleco Risk Analyst - Commodity Controls (Hybrid) in Pineville, Louisiana
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The Commodity Controls Risk Analyst II is an experienced professional with knowledge of Physical and Financial Commodity Risk Management and Controls principles, practices, concepts, and theories. The incumbent monitors daily commodity market and credit risk exposure and transaction activity, and responds to alerts for delegation of authority violations, risk policy or controls issues. The incumbent reviews and reconciles the daily prices used for mark-to-market and value at risk valuation and produces daily commodity and credit risk reports. The incumbent reconciles any differences in commodity transaction bookings, prices or other issues with the front office and the back office; and supports drafting risk controls, policies and procedures controls, management presentations, and integration of report design through SQL or Business Intelligence tools. This role requires base level quantitative, data analytics, and business intelligence experience.
Brings and develops deep understanding of ETRM systems and how they support the transaction lifecycle; maintain segregation of duties and segregation between business units for all risk analysis and reporting
Ensure all commodity transaction activity and exposures are accurately modeled and complete, resolve any transaction and price data issues in the ETRM system of record, and ensure transactions comply with delegation of authority and risk limits
Analyzes market and counterparty credit risk for risk exposures to help the businesses better manage portfolio risk exposure.
Review and consolidate independent mark-to-market valuations of commodity transactions and instruments and research anomalies in valuation; ensure accurate mark-to-market valuations of commodity transactions
Support Risk Management across the risk organization, including ERM and Risk Analytics, by supporting documentation, walkthroughs and data gathering requests for risk control, internal and external audits
Participate in requirements definition documentation and testing of ETRM systems for managing the commodity lifecycle
Understand work at enterprise level across front, middle, and back office, learn the commodity lifecycle processes and procedures from capturing commodity transactions to physical and financial settlements
Monitor adherence to middle office controls and ETRM software daily process; identify issues in commodity transaction booking and controls breaches; review timely and accurate recording of transactions in ETRM system, validate adherence to transaction controls and escalate any issues
Perform transaction validation of risk attributes, embedded optionality and appropriate composite pricing; communicate and support reconciliation of credit exposure, margin calls and collateral requirements
Manually import market prices (as needed) and validate market prices automatically interfaced from market data sources
Regularly produces risk and financial reports, commodity transaction, portfolio, and credit exposure reports, management dashboards, presentations and visualizations to communicate risk exposures, risk attributions and change rationalization using quantitative data analytics capabilities, report writing development, and business intelligence software
Liaise with front office to review transaction bookings and compliance with delegation of authority, and to reconcile differences in valuation, missing trades, etc.; Interact with back office to support commodity transaction confirmation, settlements, pricing or other related issues
Develop relationships to be an effective business partner with assigned business functions or subject matter professionals to support Risk Analytics and Controls business objectives
Actively engage in process improvement initiatives to enhance Risk Management service delivery and processes; identify automation areas to reduce routing manual tasks
Help lead efforts for continuous improvement of risk lifecycle analytics, software and business intelligence tools; participate in the integration of current systems (e.g., SAP) and analytical techniques to enhance/streamline current operations
Champion a corporate culture that emphasizes risk decision making, transparency, integrity, safety, environmental responsibility, employee development, diversity and inclusion, customer service, and operational excellence
Required Education, Experience, & Skills
Master’s and/or Bachelor’s degree in Finance, Business, or related field
2+ years of related experience in Energy Trading and Risk Management (ETRM) systems/supporting technologies for commodity transaction management, specifically in Power and Utilities sector
Experience with Allegro ETRM system preferred
Strong knowledge of MS Excel required, working knowledge of VBA, C++, SQL, Python, R & Business Intelligence Software preferred
Knowledge of gas, coal and power transactions and MISO power market preferred
Strong analytical, problem-solving, planning, and project management skills
Willingness and ability to learn new technologies on the job
Ability to exercise judgment with little direction/guidance but also knows when to escalate to the Manager, Risk Management and Controls
Proficient at functioning effectively within a team environment, present ideas and opinions in a respective and collegial manner
Step progression levels based on skill proficiency and scope of job
Licenses and Certifications
- CFA, FRM and other risk management accreditations are a plus
Plans and Aligns
Drives Vision & Purpose
TECHNICAL (Core for Function)
Financial Reporting & Data Analysis
Industry and Business Knowledge
Project & Change Management
Planning, Forecasting, Budgeting
Cleco Corporate Holdings LLC is a regional energy holding company that conducts its business operations through two subsidiaries, Cleco Power and Cleco Cajun. Headquartered in Pineville, Louisiana, and in business since 1935, the company has almost 1,500 employees.
Cleco Power is a regulated electric public utility that owns 10 generating units with a rated capacity of 3,360 megawatts, 1,335 miles of transmission lines and 12,152 miles of distribution lines. Cleco Power uses multiple generating sources and multiple fuels to serve approximately 290,000 customers in 24 of Louisiana's parishes through its retail business and supplies wholesale power in Louisiana and Mississippi. Parishes served include Acadia, Allen, Avoyelles, Beauregard, Calcasieu, Catahoula, DeSoto, Evangeline, Grant, Iberia, Jefferson Davis, LaSalle, Natchitoches, Rapides, Red River, Sabine, St. Landry, St. Martin, St. Mary, St. Tammany, Tangipahoa, Vermilion, Vernon and Washington.
Cleco Cajun is an unregulated utility company that owns 14 generating units with a rated capacity of 3,379 MWs and wholesale contracts serving nine Louisiana cooperatives, three wholesale municipal customers and one electric utility.