Vitol
Contract Administrator
Vitol, Houston, Texas, United States, 77246
Company Description
Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. From 40 offices worldwide, we seek to add value across the energy supply chain, including deploying our scale and market understanding to help facilitate the energy transition. To date, we have committed over $2.5 billion of capital to renewable projects, and are identifying and developing low-carbon opportunities around the world.
Job Description
The
Contracts Administrator's
primary role is to mitigate Economic, Operational, Legal and Regulatory risk associated with commodity transactions. Mitigation is done by drafting and dispatching of contracts reflecting all agreed economic and non-economic terms. In addition, reviewing and confirming broker and counterparty confirmations while promptly escalating discrepancies to Front Office for resolution.
Specific job duties include:Confirm all transactions completed are valid deals; promptly escalating to Front Office of missing or erroneous tradesEnsure all trade confirmations are drafted, issued, and executed in accordance with procedures.Ensure all drafted confirmations incorporate all approved and required terms along with appropriate references to any master agreements (ISDA, EEI, NAESB...etc)Checking incoming counterparty confirms for errors and sending responses as neededAssuring all broker confirmations are received and matched against trade economics within trading systemLiaising with Legal, Credit, Operations and other support partners to assure any additional terms are properly incorporated into contracts.Actively follow up on outstanding confirmations, escalate and resolve any lengthy delay with Contract Manager and Front OfficeEstablish and maintain strong working relationships with Front Office and ensure their questions and request are addressed timely and accurately.Provide weekly updates of any outstanding items to Contract ManagerMake sure all documents, emails and other supporting correspondence are filed in electronic retention system for each tradeResponding timely to any external queries on confirmations.Escalate to Contracts Manager any issues with contract systemResponsible for updating and maintaining procedures documentsProactively identify opportunities to further streamline process and improve productivity.Participate in testing of system and process upgradesQualifications
Bachelor's degree in numerate or semi-numerate subject (engineering, math, accounting, economics)Familiarity and understanding of working with contracts and/or energy markets1 or more years experience in trading environment highly preferredPortuguese and/or Spanish language skills highly preferredUnderstanding financial implications associated with the movement of physical productAbility to assess contractual risk and make decisions accordinglyCapable of effectively communicating with internal and external contactsDocument administration in Microsoft WordAdditional Information
Competencies
Self-motivated and proactive in problem solvingHighly organizedTakes the initiative, self-starterWorks well under pressure / fast pace environmentAnalytical approach to dataAdaptabilitySeeks to continuously build knowledgeExcellent communication skills
Work Environment
Due to the collaborative, fast-paced, and high energy nature of our business, Vitol requires team members to work from our fully-equipped office.
All your information will be kept confidential according to EEO guidelines.
Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. From 40 offices worldwide, we seek to add value across the energy supply chain, including deploying our scale and market understanding to help facilitate the energy transition. To date, we have committed over $2.5 billion of capital to renewable projects, and are identifying and developing low-carbon opportunities around the world.
Job Description
The
Contracts Administrator's
primary role is to mitigate Economic, Operational, Legal and Regulatory risk associated with commodity transactions. Mitigation is done by drafting and dispatching of contracts reflecting all agreed economic and non-economic terms. In addition, reviewing and confirming broker and counterparty confirmations while promptly escalating discrepancies to Front Office for resolution.
Specific job duties include:Confirm all transactions completed are valid deals; promptly escalating to Front Office of missing or erroneous tradesEnsure all trade confirmations are drafted, issued, and executed in accordance with procedures.Ensure all drafted confirmations incorporate all approved and required terms along with appropriate references to any master agreements (ISDA, EEI, NAESB...etc)Checking incoming counterparty confirms for errors and sending responses as neededAssuring all broker confirmations are received and matched against trade economics within trading systemLiaising with Legal, Credit, Operations and other support partners to assure any additional terms are properly incorporated into contracts.Actively follow up on outstanding confirmations, escalate and resolve any lengthy delay with Contract Manager and Front OfficeEstablish and maintain strong working relationships with Front Office and ensure their questions and request are addressed timely and accurately.Provide weekly updates of any outstanding items to Contract ManagerMake sure all documents, emails and other supporting correspondence are filed in electronic retention system for each tradeResponding timely to any external queries on confirmations.Escalate to Contracts Manager any issues with contract systemResponsible for updating and maintaining procedures documentsProactively identify opportunities to further streamline process and improve productivity.Participate in testing of system and process upgradesQualifications
Bachelor's degree in numerate or semi-numerate subject (engineering, math, accounting, economics)Familiarity and understanding of working with contracts and/or energy markets1 or more years experience in trading environment highly preferredPortuguese and/or Spanish language skills highly preferredUnderstanding financial implications associated with the movement of physical productAbility to assess contractual risk and make decisions accordinglyCapable of effectively communicating with internal and external contactsDocument administration in Microsoft WordAdditional Information
Competencies
Self-motivated and proactive in problem solvingHighly organizedTakes the initiative, self-starterWorks well under pressure / fast pace environmentAnalytical approach to dataAdaptabilitySeeks to continuously build knowledgeExcellent communication skills
Work Environment
Due to the collaborative, fast-paced, and high energy nature of our business, Vitol requires team members to work from our fully-equipped office.
All your information will be kept confidential according to EEO guidelines.