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Within EY’s Financial Accounting Advisory Services (FAAS), we currently have a career opportunity for a Manager within our Commodity Markets practice. In this role, the Manager will serve as a lead on commodity trading audits, and execute audit support requests, including technical accounting matters. A successful candidate should have a track record of managing audit engagements as well as engagement teams. A Manager is also expected to play an “advisor” role, meaning that he/she will work in a number of different areas; technical accounting, general industry subject matter, and audit execution/approach. Consideration is given to each Manager’s educational background and experience in determining the appropriate assignments. Experience with energy trading and derivatives, while not required, is a plus.

Within FAAS, our Commodities Markets practice provides audit and audit support services, advisory services, training and technical accounting support to our clients with significant derivative and commodity exposure. The group participates as members of external audit engagement teams, provides support services to external audit engagement teams, provides accounting training and advisory services to our audit and non-audit clients, and provides on-call technical accounting services to our clients. Our clients greatly value the insights and experience we provide regarding hedge accounting, analysis of structured contracts and application/implementation of accounting standards affecting the commodities markets. Our clients include companies for all industries that have commodity exposure; however, our focus is on merchant energy companies, retail energy companies, utilities, oil and gas companies, chemical companies, agriculture, natural resource companies and large commodity end users.

Responsibilities

performing asset and derivative valuations using various valuation tools & methods

constructing and running monte carlo simulations of energy assets such as power generation, storage, transportation and blending facilities across multiple commodities (power, gas, oil, etc.)

understanding linear programming approaches as used to determine physical plant operating constraints and optimizing inputs

working with clients in a problem solving environment utilizing existing tools or in some cases, developing new tools

assisting on business development opportunities which may include proof of concept studies for clients

providing insight and commentary on various approaches, advantages and shortcomings of modeling price behavior, plant characteristics with technically correct approaches that acknowledge the constraints and limitations of the real commodity markets

Responsibilities

performing asset and derivative valuations using various valuation tools & methods

constructing and running monte carlo simulations of energy assets such as power generation, storage, transportation and blending facilities across multiple commodities (power, gas, oil, etc.)

understanding linear programming approaches as used to determine physical plant operating constraints and optimizing inputs

working with clients in a problem solving environment utilizing existing tools or in some cases, developing new tools

assisting on business development opportunities which may include proof of concept studies for clients

providing insight and commentary on various approaches, advantages and shortcomings of modeling price behavior, plant characteristics with technically correct approaches that acknowledge the constraints and limitations of the real commodity markets

Qualifications:

To qualify, candidates must showcase a proven track record with the following:

financial modeling including the use of Black-Scholes and similar GBM approaches for derivative and physical valuation

theoretical understanding/experience in stochastic processes beyond GBM or mean-reverting lognormal processes desired

valuation, risk and financial depiction of power, natural gas, oil, transport, storage and processing Qualifications:

To qualify, candidates must showcase a proven track record with the following:

financial modeling including the use of Black-Scholes and similar GBM approaches for derivative and physical valuation

theoretical understanding/experience in stochastic processes beyond GBM or mean-reverting lognormal processes desired

valuation, risk and financial depiction of power, natural gas, oil, transport, storage and processing assets and the instruments used to hedge them

theoretical understanding/experience in LP modeling for refineries desired

processing large quantities of data via spreadsheet / VBA and other means

Visual Basic skills — particularly around automating and scripting large spreadsheet analyses

skills in other common quantitative languages including C. R, Python, MatLab, etc.

wholesale financial and physical instruments in power, gas, petroleum and other commodity markets

working knowledge of retail product structures offered in the power and gas markets and typical approaches in determining risk and searching for optimal hedges

deal structuring, valuation or modeling in the retail or wholesale energy markets

power and natural gas markets in North America — understanding of market drivers and regulations and typical trading environments

working in a structuring capacity and/or quantitative development

commodity Risk Management analysis utilizing tools such as monte carlo simulation in modeling:

o Forward and spot prices for power, gas, coal and other commodities

o Weather and load data

o Physical assets such as power generation, gas storage, refining, transport/logistics, congestion trading/FTRs/CRRs and similar products

working experience with the FEA @Energy (or similar) product suite

concepts of GMaR, CFaR and understand the components of each

functional and/or technical experience working with and/or implementing an Energy Trading Risk Management application (i.e. OpenLink, Sungard, Triple Point or Allegro)

a bachelor’s degree and approximately 5 years of related work experience; or a graduate degree and approximately 4 years of related work experience

• a degree in economics, mathematics, finance, information technology, accounting or a related field is desired
• strong analytical and technical skills including advanced mathematics
• ability to effectively lead others and take ownership of deliverables
• strong communication, presentation, client service and technical writing skills
• desire and ability to work closely with engagement team members and clients
• demonstrated aptitude for independent learning and problem solving