Contracts Administrator

Vitol•Houston, TX

19h•Onsite

About The Position

This position is in the Contracts Group reporting to the Contract Lead and supports activity for various products including crude, natural gas, power and fuel oil. 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.

Requirements

Ability to assess contractual risk and make decisions accordingly
Capable of effectively communicating with internal and external contacts
Document administration in Microsoft Word

Nice To Haves

Minimum 1+ years’ experience commodities trading environment
Experience or understanding of programming languages like Phyton or SQL
Conversational Spanish skills
Bachelor’s degree in numerate or semi-numerate subject (engineering, math, accounting, economics) or relevant experience in a related field
Understanding financial implications associated with the movement of physical product

Responsibilities

Confirm all transactions completed are valid deals; promptly escalating to Front Office of missing or erroneous trades
Ensure 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 needed
Assuring all broker confirmations are received and matched against trade economics within trading system
Liaising 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 Office
Establish 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 Contracts Lead and Contract Manager
Make sure all documents, emails and other supporting correspondence are filed in electronic retention system for each trade
Responding timely to any external queries on confirmations.
Escalate to Contracts Lead and Contracts Manager any issues with contract system
Responsible for updating and maintaining procedures documents
Proactively identify opportunities to further streamline process and improve productivity.
Participate in testing of system and process upgrades