Middle Office Analyst, US

JERA Global Markets; Houston (TX); On-site; USD 90,000 - 130,000; Full time

Job summary

JERA Global Markets in Houston is seeking an Analyst, Middle Office to join the North American Gas Trading team. You will contribute to daily P&L production, trade validation, and contract management within the ETRM framework.

This role targets candidates with 3–7 years in a Middle Office or Risk function and a solid understanding of US gas and power products, capable of collaborating with Front Office, Market Risk and Treasury.

Qualifications

• 3–7 years of work experience in a Middle Office or Risk role.
• Degree in accounting, business or engineering discipline.
• Strong English communications and ability to engage with Front Office, Market Risk and Treasury.

Responsibilities

• Production of daily P&L reports and consolidation of trade book reports.
• Validation of internal trade entries and confirmations to ensure accurate capture in the ETRM system.
• Support risk monitoring and reporting; assist in month-end closing processes.
• Coordinate with Front Office, Market Risk and Treasury on trading strategy and positions.
• Assist in contract and confirmation management for financial trades.

Skills

Middle Office experience

Risk management

US gas & power knowledge

Education

Accounting/Business/Engineering degree

Job description

COMPANY DESCRIPTION

About the Company

The JERA Global Markets Group (JERAGM) is a leading utility-backed energy trader specialising in LNG, power,coaland freight.

As JERA’s exclusive trading and optimisation platform for majority shareholder, JERAGM operates one of the most exciting energy portfolios in the world, which gives it an in-depth understanding of the way local,regionaland international energy markets behave. Thisexpertiseenables us to capture trading opportunities, optimise portfolios, createvalueand enhance security of supply for our customers.

Headquartered in Singapore, JERAGM has a global talent pool of about 400 people across officeslocatedin five strategic locations: Singapore, the UK (London), Japan (Tokyo), the US (Houston)and Australia (Brisbane).

RESPONSIBILITIES

Position Description

This role forms part of JERA's growing North American Gas Trading business, which is expected to transition onto JERAGM’s trading platform. This business is wholly owned by JERA Co., Inc. and will focus on US natural gas trading,optimisationand market development across North America. Successful candidates will join during the build-out phase ahead of the business's planned operational launch.

Within JERAGM’s US business(GMA), theMiddle Officefunctionis responsible forall aspects ofProduct Controland Trade Control.

As a global trading business, JERAGM has counterparty exposure in Asia, EMEA, the U.S., and Latin America. The quality of our counterparties ranges from large,listed utilities and global trading companies to small single ship owning organisations. Trading relationships range from bilateral commodity sales and purchases to complex structured transactions with SPVs (IPPs for example).

The Middle Officeteamisresponsible for:

• Production of daily profit and loss for the trading books, ensuring its consistency and integrity

• Resolving any queries from traders or other departments relating to P&L, and escalating asrequiredto the Head of Risk

• Validation of internal trade physical and paper marks

• Validation of all physical commodity and derivative deal entries to ensureaccuratecapture intothe ETRM system

• Forward curve and algorithm maintenance

• Contract and confirmation management for financial trades.

• Daily reconciliation of internal system vs clearing banks for exchange traded products

• Management of the relationship with clearing brokers and clearing banks

• Monitoring the trading activity; highlight and report unusual activity.

• SupportingtheMarket and Credit risk monitoring

• SupportingtheTreasury team in margin management

• Supporting Finance in month-end financial closing processes

• Summary reporting (e.g. weekly, monthly) on key analytics

• Active discussions withFront Office,Market Risk andCredit Risk around trading strategy,positions, andthe overlap with other management and risk reporting

The current position willbe located inHouston office. TheAnalyst,Middle Officein Houston officewill report directlyinto theManager, Middle Office,in Houston office.

Key Role Responsibilities

TheAnalyst, Middle Office'sresponsibilities will cover BAU reporting:

• Production of daily P&L reports and consolidation of all trade book reports, ensuring its precision,consistencyand integrity

• Resolving queries from traders or other departments relating to P&Limpactingtopics

• Raising queries to traders when proposed booking changes or business practices are unclear

• Bringing awareness and understanding to the impacts of deal changes or bookings to different departments, considering how it willimpactthem

• Validation of physical commodity (USGas andPower) and derivative deal entries ensurean accuratevaluation withintheETRMSystem (EKA)

• Maintaining price curves andtheassociated calendars

• Understanding the different funding requirements for futures and forwards and how itimpactsvarious stakeholders

• responsibility of the relationship with clearing brokers and clearing banks

• Monitoring the trading activity; highlightingand reportingunusual activity.

• Supporting theMarketRiskand CreditRiskteam’smonitoring

• Understanding and ability to calculate the impacts of IR and FX on P&L, working with the Treasury team to ensure the impacts are expected and hedges are correct or executed whenrequired

• Supporting Finance in month-end financial closing processes explaining any provision requirements for the business

• Summary reporting (e.g. weekly, monthly) on key analytics

• Synergize with other teams based in London to add value to each other’s tasks as well as gaining a greater insight for colleagues based in Singapore

• Proposing and implementing innovative, moreaccurateand more efficient processes and calculation methods

• Ownership of the Contract and confirmation management for financial trades.

QUALIFICATIONS

Key Qualifications and Experience

Experience

• Between 3 and 7years of work experience, preferably with a degree in an accounting,businessor engineeringdiscipline or similar;

• Experience in a Middle Officeor Riskrole in another energy or commodity trading firm, preferably withUS gas and power experience.Experience in other commodities (LNG, coal,freightor othergas/power markets) would be beneficial;

• Ability to engage with commercial teams and other internal stakeholders, to provide firm but constructive challenge and ensure adherence to the control framework and the associated policies / processes

Technical

• Educated to degree level or equivalent professional qualification;

• Excellent understanding of risks in trading businesses and a strong risk mindset;

• Strong understanding of the physical commodity tradelife-cycleand derivative products;

• Ability to engage and empathise with stakeholders across the Supporting Functions;

• Good negotiation skills and understanding of contractual frameworks;

• Knowledge ofUS gas and power products, and an understanding ofOil, Coal, LNG, Dry-Freight, Emissions, and/or Power productswill be beneficial;

• Strong communicationskills in the English language (verbal and written) arerequired;

• Strong quantitative analysis skills, including the ability to structure clear, but concise answers to complex problems, often involving largedata-sets;

• Structured and methodical approach to problem solving and systems testing.

Person Specification

• Confident personality, with the ability to communicate effectively in English;

• Attention to detail and the ability to work logically, quickly, and accurately;

• Computer literate, numerate, and comfortable handling varied and complex data sets;

• A commercial approach to their duties, a flexible approach to problem solving, and the ability to work effectively as part of a small, culturally diverse team;

• Proactive,independentand delivery-focused;

• Collaborative and able to build trust quickly with colleagues and stakeholders;

• Ability to absorb pressure,transmitclarity and communicate the path forward;

• Structured,organisedand accountable;

• Capable to work autonomously is important but also to function as part of a cross-functional team;

• Ability to work within strict and tight deadlines and within policies;

• Ability to influence and persuade - to communicate effectively as well as positively interact with a variety of JERAGM functions,ultimately contributingto the success of the transformation projects;

Role Opportunity

This role offers an excellent opportunity togrow,andfurtherapply anddevelop skills and responsibility within a growing and successful commodity trading business.