Middle Office Analyst

About the Company

The JERA Global Markets Group (JERAGM) is a leading utility-backed energy trader specializing in LNG, power, coal, and freight. As JERA's exclusive trading and optimization platform for its majority shareholder, JERAGM operates one of the most exciting energy portfolios globally, providing deep insights into energy market behaviors. This expertise allows JERAGM to identify and capitalize on trading opportunities, optimize portfolios, create value, and enhance security of supply for its customers. Headquartered in Singapore, JERAGM has a global talent pool of approximately 400 people across offices in Singapore, the UK (London), Japan (Tokyo), the US (Houston), and Australia (Brisbane).

Position Description

This role forms part of JERA's expanding North American Gas Trading business, which is transitioning onto JERAGM's trading platform. This business is wholly owned by JERA Co., Inc., focusing on US natural gas trading, optimization, and market development across North America. Successful candidates will join during the build-out phase before the business's planned operational launch.

Within JERAGM's US business (GMA), the Middle Office function is responsible for all aspects of Product Control and 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 organizations. Trading relationships span from bilateral commodity sales and purchases to complex structured transactions with SPVs (e.g., IPPs).

Role Responsibilities

• Production of daily profit and loss for the trading books, ensuring its precision, consistency, and integrity
• Resolving queries from traders or other departments relating to P&L impacting topics
• 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 will impact them
• Validation of physical commodity (US Gas and Power) and derivative deal entries ensure an accurate valuation within the ETRM System (EKA)
• Maintaining price curves and the associated calendars
• Understanding the different funding requirements for futures and forwards and how it impacts various stakeholders
• Relationship management with clearing brokers and clearing banks
• Monitoring the trading activity; highlighting and reporting unusual activity
• Supporting the Market and Credit risk monitoring
• Supporting the Treasury team in margin management
• Supporting Finance in month-end financial closing processes
• Explaining any provision requirements for the business
• Summary reporting (e.g., weekly, monthly) on key analytics
• Synergizing with other teams based in London to add value to each other's tasks and gain a greater insight for colleagues based in Singapore
• Proposing and implementing innovative, more accurate, and more efficient processes and calculation methods
• Ownership of the Contract and confirmation management for financial trades

Key Qualifications & Experience

• Between 3 and 7 years of work experience, preferably with a degree in an accounting, business, or engineering discipline or similar
• Experience in a Middle Office or Risk role in another energy or commodity trading firm, preferably with US gas and power experience. Experience in other commodities (LNG, coal, freight, or other gas/power markets) would be beneficial
• Ability to engage with commercial teams and other internal stakeholders, providing firm but constructive challenge and ensuring adherence to the control framework and associated policies/processes
• 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 trade life-cycle and derivative products
• Ability to engage and empathise with stakeholders across the Supporting Functions
• Good negotiation skills and understanding of contractual frameworks
• Knowledge of US gas and power products, and an understanding of Oil, Coal, LNG, Dry-Freight, Emissions, and/or Power products will be beneficial
• Strong communication skills in the English language (verbal and written) are required
• Strong quantitative analysis skills, including the ability to structure clear, but concise answers to complex problems, often involving large data-sets
• Structured and methodical approach to problem solving and systems testing