Sr. Analyst – Treasury Front Office

Job description

Job Description Direct Energy generates electricity and produces natural gas, as well as selling commodities and servicing the energy needs of homes and businesses in 46 U.S. states plus the District of Columbia and 10 Canadian provinces. We also help our customers save on their energy bills through energy efficiency. Located in over 50 locations, our team of 6,000+ employees serve over 6 million residential and commercial customer relationships. 

Direct Energy is a subsidiary of Centrica plc (LSE:CNA), one of the world's leading integrated energy companies with over 20 million customers and 34,000 employees worldwide. We are committed to being the most recommended energy and services provider and leading the transition to a low carbon society.

 

Primary Focus:
Create Letter of Credit and Surety Bond documentation to support our North American US and CAD collateral requirements and maintain and enhance databases to track exposure, transactions, costs, and generate dynamic reporting. Develop strong working relationships with our lenders, surety bond brokers, Centrica UK Treasury, and North American customers to ensure that Letter of Credit and Surety Bonds are efficiently processed. Understand the underlying contacts, agreements, headroom constraints, document language, and process flows. Understand drivers of collateral needs in the physical and financial electricity and natural gas markets. Effectively work with our business partners in Margin Desk and Credit Risk on LOC Collateral needs; and our Services business to provide Surety Bonds to municipalities where we perform installations and service contracts. Conform with and enhance all audit controls related to proper delegation of signing authority, documentation retention, worksheet security, segregation of duties, and reporting. Provide insightful solutions for M&A and integration projects related to cash management, bank account services, and financing.

Requirements

 
· Strong Treasury/Finance/Bank background with emphasize in Letter of Credit and Surety Bond documentation; and futures market experience. 
· Experience and knowledge of derivatives and physical commodities markets as it relates to gas, power and solar energy industry desired.
· Strong technical skills with Excel utilizing lookup and pivot techniques; with SQL, VBA, and statistical software knowledge an asset.
· 3-5 years of experience in finance, commodity risk, banking, or corporate treasury.
· Strong negotiation, influencing, and project management skills
· Strong analytics, communication, and presentation skills
· Strong team building and consensus building
· Education Requirement – Bachelor’s degree in Accounting, Business Admin, Economics, or Finance required. MBA or an advanced degree in Finance preferred
· Certification: CPA, CFA or CTP preferred

Responsibilities

 
· Prepare Letters of Credit (LOC) documentation to support collateral posting with our ISO and bilateral beneficiaries working with our Margin Desk and Credit Risk teams to optimize the use of LOCs to preserve working capital and maintain the issuance SLA.
· Interpret credit facility documentation and supporting contracts to optimize use of all facilities, anticipate headroom constraints, and work with Credit Risk and Counterparties and Legal on LOC language requirements.
· Research issues and update processes to accommodate and enhance workflows and documentation. · Monitor cash collateral positions with our beneficiaries and recommend appropriate level of Parental Guarantee, Cash, or LOC. Consider LOC time to initiate, facility headroom, language requirements, and counterparty risk exposure with LOC issuer when selecting appropriate funding method.
· Communicate with LOC beneficiaries to coordinate collateral needs, track LOC and cash positions, provide LOC confirmations, and coordinate return of cash after LOC posting.
· Provide the analytics and analysis of valuation and value at risk (VaR) to support the decision to post cash vs. letter of credit, and to project use of cash and LOC facilities for anticipated collateral postings.
· Maintain and enhance LOC or Surety Bond database/worksheets and calculate usage, headroom, and service fees as well as proper documentation on purpose, contacts, renewals, legal entities, and accounting treatment.
· Ensure that billing for services is reconciled and paid timely. ·
· Create reports, charts, and “what if” analysis that tells the story of historical trends, future needs, and optimal cash and LOC levels to manage our working capital which supports our partnership with credit risk, working capital strategic group, and finance teams utilizing excel skills that include lookup functions, pivot tables and VBA.
· Prepare Surety Bond documentation for bids, licenses, permits, installations, and performance contracts to support our Services business; and ensure that bonds requests are completed accurately and that our broker receives clear and concise instructions. 
· Build relationships with our lenders, bond brokers, and back office operations to ensure process flow processes are streamlined and that any dispute or clarifications are handled promptly.
· Perform due diligence and analysis of cash management services, bonds and LOC portfolios to support integration or M&A projects as assigned.
· Utilize project management skills to lead or support acquisition and integration planning of bank account structure, major process changes that involve bank and credit card services, innovative uses of bank products to better serve our lines of business, and consult on how banking solutions enable bank account consolidation and alignment to ERM platforms.
· Backup to Back Office Treasury on research, initiating bank portal transactions, releasing funds transfers, cash management, liquidity management,, customer service, and projects.
· Starting with the most important, list 3 to 6 statements that describe the results or outcomes of this jobs. Consider what this job is responsible for accomplishing and how this is achieved.

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