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Advisor, Compliance

Location:

TX, Houston

Job type:

Permanent

Job Description

Direct Energy is a leading energy and energy-related services provider with nearly five million residential and commercial customers in North America. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE: CNA), one of the world’s leading integrated energy companies, Direct Energy operates in 50 U.S. states plus the District of Columbia and 10 provinces in Canada. To learn more about Direct Energy, please visit www.directenergy.com.

 

This position will be an integral part of implementing a robust North American Trade Surveillance Compliance Program.  This individual is responsible for monitoring trading activity across the organization and ensuring its compliance with regulatory authorities and electronic exchanges.  This position will report to the Director of Regional Ethics and Compliance, NA and may interact with all levels of the company.

 

Requirements

 

In-depth understanding of trading markets:

  • Natural Gas – Physical and Financial; hedging, storage, basis, options,  indexes; Platts, ICE, CME, Nodal markets and platforms; pipelines and regions; etc.
  • Electricity – Physical and Financial; supply, hedging, options, FTR, Virtuals, CRR, ISO; regional relationships; generation offers; etc.
  • Coal and Weather as used for supply and hedging purposes
  • True collaborator who maintains a balanced view of the business and can effectively push back on all levels of management, providing candid and honest assessments.
  • Ensure that health, safety and environment objectives and targets are met with the Legal team in North America.
  • Experience with regulatory reporting related to trading activities, including FERC EQR, FERC 552, Dodd-Frank reporting for Trade Options, Swap dealer de minimis, and CFTC Position Limits; electronic exchange hedge exemptions; etc.
  • Creates and maintains a collaborative and empowered Compliance team that provides timely, efficient and effective  support to his/her business units.
  • Strong communicator who translates Compliance matters into concise and credible messages.
  • Business maturity coupled with the highest integrity.

 

Additional Knowledge, Skills and Abilities:

  • General knowledge of ethics and compliance concepts, such as standards of conduct, business ethics, trading best practices, anonymous reporting of suspected violations, auditing and monitoring for compliance and issues and complaint resolution.
  • General knowledge of the U.S. Sarbanes-Oxley Act, Federal Sentencing Guidelines, Energy Policy Act of 2005 or the Canadian Competition Act. 
  • General knowledge of industry regulatory rules and regulations, state regulatory requirements and administrative procedures or the Competition Bureau of Canada, the Alberta Market Surveillance Administrator, the Alberta Utilities Commission, the Alberta Electric System Operator and the Ontario Market Surveillance Panel of the Ontario Energy Board.
  • Quickly learns new relevant industry, legal and regulatory information and applies knowledge to specific issues or situations.
  • High level of skill with Excel, VBA, and data extraction (Oracle SQL and SQL Server)
  • Excellent oral and written communication skills including report writing and ability to interact with employees at all levels. 
  • Strong interpersonal, organizational, and research skills
  • Ability to maintain confidentiality and use good judgment related to sensitive matters
  • Promote and exhibit high ethical standards
  • Ability to listen and analyze information
  • Effectively prioritize own time and focus on most critical activities
  • Maintain composure and uses good judgment under stressful circumstances
  • Ability to work in dynamic environment with frequently changing requirements and meet deadlines
  • Works well within a self-directed, team-based environment
  • A Bachelor’s degree from an accredited college or university or equivalent work experience. 
  • Three to five (depending on level) plus years professional experience in the Energy sector.
  • Experience with both Natural Gas and Electricity trading, preferably in both Wholesale and Retail environments.
  • Working knowledge of Federal and other regulatory governance of trading activities.
  • One plus years of project management desirable

Responsibilities

  • Daily monitoring of trading activities for DE entities, primarily for wholesale purposes, to ensure compliance with regulations prohibiting or regulating Wash trading, Marking the Close and concentrated trade activity, Other types of manipulative market practices
  • Daily monitoring of activity on ICE, CME, and Nodal electronic exchanges to ensure compliance with regulations that govern Exchange for Related Position (EFRP) activity, Block Trading, Product Limits
  • Daily calculation of European Market Infrastructure Regulation (EMIR) Gross Notional value of qualifying financial trade activity
  • Daily calculation of Gross Notional  value for qualifying activity used to determine DE’s compliance with Swap Dealer de minimis threshold under Dodd-Frank regulations.
  • Monthly calculation of activity used to determine DE’s compliance with Trade Options rules under Dodd-Frank regulations.
  • Monthly calculation of DEMI exports to Canada activity used for regulatory reporting purposes.
  • Quarterly calculation of bilateral physical power activity used for FERC EQR reporting.
  • Annual calculation of physical gas activity used for FERC 552 reporting.
  • Adhoc reporting, data extraction, and analyses for purposes such as Capacity Release testing, Generation Offers testing, responses to ICE, CME, and regulatory inquiries into activity, etc.
  • Support, maintenance, enhancements, and new development to codebase for existing VBA-based platform of surveillance and reporting tools.
  • Ensure compliance procedures are appropriately documented.
  • Provides answers to employee questions about company policies, procedures and standards and escalate to Compliance management or other functional areas as needed.
  • Assists with investigation of third party complaints and review of business responses to regulators.
  • Assists Legal and Regulatory Affairs with response to external investigations and inquiries.

The IndividualDirect Energy and its subsidiaries are an Equal Opportunity Employer - EOE AA M/F/Vet/Disability
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