Middle Office Manager - Energy Operations

DRW is a diversified trading firm with over 3 decades of experience bringing sophisticated technology and exceptional people together to operate in markets around the world.  We value autonomy and the ability to quickly pivot to capture opportunities, so we operate using our own capital and trading at our own risk. 

Headquartered in Chicago with offices throughout the U.S., Canada, Europe, and Asia, we trade a variety of asset classes including Fixed Income, ETFs, Equities, FX, Commodities and Energy across all major global markets. We have also leveraged our expertise and technology to expand into three non-traditional strategies: real estate, venture capital and cryptoassets. 

We operate with respect, curiosity and open minds. The people who thrive here share our belief that it’s not just what we do that matters–it's how we do it.  DRW is a place of high expectations, integrity, innovation and a willingness to challenge consensus.  

As a Middle Office Manager you will join Global Trading Operations team and provide dedicated support to DRW’s Energy trading desks.  Primary responsibilities will include operational support for our global Natural Gas and Power business, including daily profit-and-loss and position reporting, trade capture including structured deals, Desk and curve hierarchy setup, independent price verification, ETRM maintenance, and related analysis.  This will require daily interaction and communication with both traders and support colleagues, as well as senior management. Highly effective communication skills are critical as you will also have regular, direct interaction with a variety of teams across the firm, including risk management, technology, treasury, accounting, finance, and the firm’s partnership.  The ability to work in a fast-paced environment while maintaining a high degree of professionalism and accuracy is paramount.

What you’ll do in this role:

• Provide ownership for and expertise of the processes and workflows needed to support middle office functions of the firm’s Energy Physical and Financial Natural Gas & Electricity trading desks North America
• Frequent interaction with traders, schedulers, originators to systems, processes, and reference data is available to ensure trades are booked and valued correctly and timely.
• An understanding of the physical natural gas and power grids and trade flows including storage, transport, tolls, heat rate call options, etc across bilateral counterparties, pipelines and storage facilities, and Independent System Operators, as wells as position reconciliations with clearing firms and prime brokers
• Daily P&L calculation and substantiation, ensuring that all workflows conform to DRW’s standards and integrates trading requirements.  This involves daily analysis on large datasets and the ability to explain P&L drivers to the desk and resolve any expectation gaps with the daily timelines.
• Gain mastery of the firm’s proprietary and third-party trade capture, inventory management, and P&L reporting systems necessary to support daily trading activity
• Act as process super-user for current workflows and systems, resolving issues that arise between internal groups at DRW and multiple external exchanges, clearers, and counterparties;
• Develop strong understanding of front office risk management tools
• Liaise with technology teams to secure proper support/coverage for ongoing operations and implement enhanced workflows, with a focus on process efficiency, risk reduction, and alignment with DRW standards
• Work closely with Business Management and other internal teams to assure new desks, traders, and products are on-boarded correctly
• Communication and coordinate with global teams to ensure consistency of trade valuation/modeling with understanding of impact of regional differences.

You’ll be right at home if you have:

• 7+ years of experience working and managing middle office functions overseeing physical and financial Natural Gas & Electricity trading across the North America
• Able to navigate and analyze P&L across large amounts of data inclusive of trade count, forward marks, and settlements
• Ability to understand structured origination transactions and recommend booking methodology for the individual risk components.  This also entails working with our Quantitative Research team on understanding models and valuing extrinsic optionality.
• Firm understanding of the NA Physical Natural Gas grid and the US FTR market and experience with all the ISO’s. 
• Prior interaction with front office and senior management teams in an active trading environment a must.
• Strong excel skills
• Experience and working knowledge of third party ETRMs, including implementation and maintenance (prefer Endur/OpenLink)
• Ability to work with databases, SQL, APIs, and prior python coding experience are all preferred
• Bachelor’s degree in Finance, Accounting, Economics or material equivalent exposure
• Demonstrated ability to work independently and quickly solve problems
• Able to perform repeatable tasks with consistent results
• Able to handle sensitive financial data appropriately
• Accuracy and reliability/attention to detail is a must

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