Middle Office Manager

2 months ago

Austin, United States Habitat Energy Full time
Job DescriptionJob DescriptionSalary:

Company Overview:

Habitat Energy is a fast growing technology company focussed on the trading and algorithmic optimisation of energy storage and renewable assets around the world. Our mission is to deliver outstanding returns to our clients to increase the attractiveness of renewable energy globally and support the transition to a clean energy future. Our rapidly growing team of ~100 people in Austin, TX, Oxford, UK,  and Melbourne, Australia brings together exceptionally talented and passionate people in the domains of energy trading, data science, software engineering and renewable energy management. Our aim is to deliver market leading performance, maximizing lifetime asset value and building excellent relationships, whilst at all times meeting our regulatory obligations as part of the electricity system and market.


We are seeking a Middle Office Manager to join our US team based in Austin, Texas, reporting to our US Managing Director. 


Position Overview:

The Middle Office is a critical component of Habitat’s business model and sits at the interface of several of our teams as we deliver first of a kind and top performance to our clients. The Middle-Office Manager is responsible for ensuring Habitat has tightly controlled and transparent processes around settlements, invoicing, market and credit risk and other client reporting, all of which is core to delivering our services and building and maintaining trust with our clients. The role will be responsible for building on and evolving our services in ERCOT and expanding them as we expand the business into other US markets. 


The Middle Office Manager will report to Habitat’s US MD and will work closely with the rest of the US commercial team as well as with our CFO and global Finance team, to ensure appropriate financial controls and support business forecasting, our Product Development team as we further embed technology and automation into these processes and our Risk Management team to ensure we appropriately and consistently manage risk across the business. This role is a key interface for our clients and we expect this role to develop active relationships with client Finance teams. 


Key Responsibilities:

  • Settlement and invoicing: Confirm, reconcile, prepare and deliver client invoices across all ISOs and product lines, including gathering and validating data, settlements calculations, reconciliations and queries with system operators, exchanges, QSE partners and resolution of client invoicing questions
  • Market and Credit risk management: Forecast, monitor and report cash and credit utilization and provide analysis for internal and client use
    • Ensure that contractual obligations, system operator protocols  (e.g. ERCOT), exchange, regulatory compliance and internal governance requirements are embedded in our operational processes and communicated to wider team
    • Ensure accurate trade and position reporting, identifying exposure and risk limit utilization
  • Finance interface:  Ensure seamless integration of client and trading processes with the CFO and broader Finance function to ensure accurate and timely reporting and cashflows
  • Forecast financial metrics impacting Gross Margin (eg, cashflows, collateral, seasonality) for financial reporting, including developing analytical tools as needed and in cooperation with Product and Finance
  • Operational risk management: Development, oversight and application  of local risk management framework in conjunction with Corporate Risk Manager. Ensure operational risk management protocols and associated incident reporting are adhered to 
  • Regular client reporting: Prepare and deliver daily and  weekly asset P&Ls and other client financial reporting as needed
  • Commercial performance assessment: provide data and analysis to evaluate trading performance
  • Product interface: Contribute to the identification and prioritization of product requirements to improve/automate processes within the accountabilities of this role, including trade capture system and automated reporting capabilities
  • Understand relevant client and 3rd party contracts as well as client Trading and Optimisation plans and incorporate into the above
  • Develop, monitor and maintain relevant company protocols and procedures for your areas of accountability ensuring compliance with regulatory requirements and internal policies


Qualifications:

  • In-depth knowledge of deregulated electricity markets, particularly ERCOT, including market rules, business practice manuals (BRPs), and regulatory requirements.
  • Experience of middle office practices and tools preferably in a power trading business
  • Existing professional relationships and involvement with regulatory bodies and industry associations which provide insight into market and policy developments. 
  • Strong analytical skills with the ability to interpret complex operational  data and regulatory documents.
  • Excellent communication skills with the ability to convey technical information effectively to diverse audiences.
  • Proven ability to collaborate effectively with cross-functional teams and external stakeholders. Team leadership/management experience preferred.
  • Demonstrated commitment to continuous learning and staying updated on industry developments.
  • Bachelor's degree in Economics, Finance or Accounting or related field; advanced degree preferred.


Join Our Team:

If you are passionate about the energy industry and eager to make a meaningful impact within a dynamic and collaborative environment, we invite you to apply for this exciting opportunity. Join us in shaping the future of energy in Texas and beyond.

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