Energy Trading Confirmation Analyst-22792
Energy Trading Confirmation Analyst
Xcel Energy Services Inc., is currently seeking an Energy Trading Confirmation Analyst to work in the downtown Denver office. This is an excellent opportunity for a recent graduate interested in working in a commodity trading environment. This is a hourly, full time, non-exempt position.
Respons ible for reconciling commercial terms of post-trade forward commodity purchase and sale transactions negotiated by Trading function. Works with internal trading staff, counter parties and brokers to identify and resolve any discrepancies in the commercial and contract terms of the transactions (e.g. acceptable creditworthiness language, pricing and adjustment mechanisms, product definitions, and service levels). Responsible for the correctness and timeliness of post-transaction written confirmations sent to and received from counter parties as well as tracking status and any changes in accordance with the terms and conditions of the applicable underlying enabling agreements as well as the internal commodity policy requirements. Ensures that fully executed documents are received on a timely basis and filed appropriately. Works with various internal departments resolving discrepancies and in identifying and locating completed transactions for any required research and in response to production of documents related to audit requests, rate cases, fuel reconciliations, and public offerings. Identifies areas of improvement in existing processes and systems.
At Xcel Energy, our customers' quality of life depends on the energy we provide. Every time they flip a switch or turn a dial, they tap into the energy of over 12,000 people working to make life better. As a leading combination electricity and natural gas energy company, Xcel Energy offers a comprehensive portfolio of energy-related products and services to 3.4 million electricity and 1.9 million natural gas customers.
- Sends, receives and tracks status of post-trade transaction confirmations per contract terms. Ensures contractual continuity in forward transaction confirmations. Ensures that commercial terms are mutually understood and agreed upon by all transaction participants for all forward transactions.
- Verifies that all completed trades are timely entered into risk system on a daily basis in accordance with internal policies and procedures. Monitors the accuracy of risk system data entry in regard to accuracy of post-trade confirmations and understands the potential impact of inaccuracies on daily trader position reports and month-end settlements. Verifies that credit has been obtained and that the appropriate underlying enabling agreement is in place to govern the specific post-trade transaction being entered into between the Xcel Operating Company and the counterpart.
- Works with brokers and counter parties post-trade to resolve discrepancies in commercial terms. Works with internal customers (traders, contract negotiators, credit, accounting and risk personnel) post-trade to resolve discrepancies in commercial terms and obtains appropriate review and approval/rejection of conflicting and/or additional contract terms. Assists in the compilation and review of documents responsive to internal and external audits and in response to rate cases, fuel reconciliations and Xcel Energy public offerings.
- Performs filing tasks, both manual and electronic, including populating specific electronic data fields within Documentum pertinent to comply with quarterly FERC EQR reporting.
- Identifies opportunities for process improvements within Contracts Development & Transaction Risk Control department and with other departments.
Xcel Energy has become a leader in the energy industry by demonstrating excellence in environmental performance. Our environmental commitment includes improving air quality, conserving resources, harnessing renewable energy, and protecting wildlife and habitats.
Xcel Energy's vitality comes from our people. It takes professionals in engineering, customer service, linemen, marketing and sales professionals, energy traders, mechanics, finance and accounting professionals and many others to power our company. We offer competitive compensation and benefit programs that include a range of options and coverage levels.
Primary Location: CO-Denver
- Bachelor's Degree in Business Administration, Finance or related business degree or 4 years of related experience may substitute for the degree.
- Experience in a commodity trading environment.
- Proficient in the use of Microsoft Office Suite.
- Must be able to handle stressful and varying time pressure deadlines on a daily basis.
- Must have excellent attention to detail and good organizational skills.
Union Position: Non-Bargaining
Description of ideal candidate