Director, Regulatory Compliance
Nrg Bluewater Wind, Houston, TX, United States
Job Summary
The Director, Regulatory Compliance will build upon NRG’s existing trade compliance program continuing the development and implementation of a first-class program. NRG’s trading operation is regulated by a number of Federal authorities such as the Federal Energy Regulatory Commission (FERC), the U.S. Commodity Futures Trading Commission (CFTC), the Canada Energy Regulator (CER); and state or provincial regulators (e.g., the Public Utility Commission of Texas (PUCTX), Ontario Energy Board (OEB), and the Alberta Utilities Commission (AUC)). These agencies require a proactive program which, i) ensures compliance with their regulations and ii) detects and deters market manipulation. In response to these ever-evolving regulations and expansion of its trading activity from a volumetric and geographic perspective, NRG is seeking to enhance its preventative and active monitoring of trading patterns and trader behavior to minimize the potential for abusive market activity (intended or unintended).
Monitoring enforcement arms of applicable regulatory bodies, particularly FERC and CFTC to evaluate penalties assessed related to energy trading activity.
Maintaining a comprehensive understanding of all compliance requirements relating to the Company’s energy trading activities.
Implementing and monitoring necessary measurements to ensure compliance with regulatory requirements.
Reviewing and analyzing trader transactions to identify potential areas of risk of non-compliance and proactively advise on improvements to trading behavior.
Implement an asset bid monitoring/review program to ensure compliance with ISO/RTO market rules and market behavior rules.
Working with support functions including Risk personnel to ensure compliance with the rules set forth by the applicable external regulatory agencies and Exchanges.
Working with the Technical Training, Legal, and Risk teams to plan, develop, and implement training programs for personnel engaged in energy transactions to ensure compliance with rules established by the various regulatory agencies and Exchanges.
Assisting in the development, tracking, calculating and reporting of trade compliance metrics to NRG Senior Management.
Working with the Legal function (and others as appropriate) to conduct internal investigations, including through the review/collection/analysis of trade data, as necessary.
Traveling periodically to participate in industry forums related to energy trading, or to collaborate with NRG personnel located outside of primary office location as necessary.
Working Conditions
Position location is in Houston, TX.
Bachelor’s degree from an accredited college or university in a related field of study.
Minimum of eight (8) years of directly related experience in energy trading, or in a compliance role at an exchange, ISO/RTO, or governmental regulatory oversight body is required.
Knowledge of trading operations, trade practices, and/or rules and regulations related to trading on a Designated Contract Market (DCM) is required.
Preferred Qualifications
Advanced degree is a plus, but is not required.
Understanding of swaps and derivatives as used in the energy industry and how such trading activities may interact to create the appearance of market manipulation.
Knowledge of ISO/RTO power products (including FTRs and virtual transactions), trading strategies and protocols.
Knowledge of power and natural gas trading strategies and protocols, and regulations.
Detailed knowledge of major external regulations applicable to energy trading, including the Commodity Exchange Act, FERC Order 670, Prohibition of Energy Market Manipulation, and FERC’s gas pipeline capacity release rules.
Demonstrated experience with FERC’s Office of Enforcement and its views on market manipulation.
Experience with Nasdaq’s SMARTS, Aligne, or trade capture systems in general is a plus.
Additional Knowledge, Skills and Abilities
Aggressive, analytical self-manager with critical thinking skills and keen judgment.
Demonstrated ability to effectively communicate (verbal and written) with all levels of internal or external groups.
Strong interpersonal skills and ability to work in both team environments and independently.
Proficiency with Microsoft Office and Microsoft Teams.
EEO is the Law Poster (The poster can be found at http://www.eeoc.gov/employers/upload/poster_screen_reader_optimized.pdf)
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Monitoring enforcement arms of applicable regulatory bodies, particularly FERC and CFTC to evaluate penalties assessed related to energy trading activity.
Maintaining a comprehensive understanding of all compliance requirements relating to the Company’s energy trading activities.
Implementing and monitoring necessary measurements to ensure compliance with regulatory requirements.
Reviewing and analyzing trader transactions to identify potential areas of risk of non-compliance and proactively advise on improvements to trading behavior.
Implement an asset bid monitoring/review program to ensure compliance with ISO/RTO market rules and market behavior rules.
Working with support functions including Risk personnel to ensure compliance with the rules set forth by the applicable external regulatory agencies and Exchanges.
Working with the Technical Training, Legal, and Risk teams to plan, develop, and implement training programs for personnel engaged in energy transactions to ensure compliance with rules established by the various regulatory agencies and Exchanges.
Assisting in the development, tracking, calculating and reporting of trade compliance metrics to NRG Senior Management.
Working with the Legal function (and others as appropriate) to conduct internal investigations, including through the review/collection/analysis of trade data, as necessary.
Traveling periodically to participate in industry forums related to energy trading, or to collaborate with NRG personnel located outside of primary office location as necessary.
Working Conditions
Position location is in Houston, TX.
Bachelor’s degree from an accredited college or university in a related field of study.
Minimum of eight (8) years of directly related experience in energy trading, or in a compliance role at an exchange, ISO/RTO, or governmental regulatory oversight body is required.
Knowledge of trading operations, trade practices, and/or rules and regulations related to trading on a Designated Contract Market (DCM) is required.
Preferred Qualifications
Advanced degree is a plus, but is not required.
Understanding of swaps and derivatives as used in the energy industry and how such trading activities may interact to create the appearance of market manipulation.
Knowledge of ISO/RTO power products (including FTRs and virtual transactions), trading strategies and protocols.
Knowledge of power and natural gas trading strategies and protocols, and regulations.
Detailed knowledge of major external regulations applicable to energy trading, including the Commodity Exchange Act, FERC Order 670, Prohibition of Energy Market Manipulation, and FERC’s gas pipeline capacity release rules.
Demonstrated experience with FERC’s Office of Enforcement and its views on market manipulation.
Experience with Nasdaq’s SMARTS, Aligne, or trade capture systems in general is a plus.
Additional Knowledge, Skills and Abilities
Aggressive, analytical self-manager with critical thinking skills and keen judgment.
Demonstrated ability to effectively communicate (verbal and written) with all levels of internal or external groups.
Strong interpersonal skills and ability to work in both team environments and independently.
Proficiency with Microsoft Office and Microsoft Teams.
EEO is the Law Poster (The poster can be found at http://www.eeoc.gov/employers/upload/poster_screen_reader_optimized.pdf)
#J-18808-Ljbffr