Middle Office Manager, Gas & LNG

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Middle Office Manager, Gas & LNG

senior · Risk & Compliance

Context & Environment

The Company is responsible for the Group’s gas, power, LNG, dry bulk, and LPG trading and marketing activities across North America. Operating in a fast-paced and dynamic environment, the business manages time-sensitive and mission-critical activities that require real-time analysis, rapid decision-making, and effective communication.

Key business challenges and market dynamics include:

• Volatile and highly regulated U.S. energy markets, requiring sophisticated technical expertise and swift decision-making to manage time-critical trading activities and significant risk-reward exposures.
• Intense competitive pressures driven by evolving market conditions and the entry of new participants, creating ongoing challenges in capturing growth opportunities and expanding market share.
• A highly skilled and mobile workforce, requiring continuous efforts to attract, develop, and retain top talent in a competitive labor market.

Activities

The Manager, Middle Office Risk & Controls leads a team of 3–5 Middle Office Analysts responsible for independent position, profit and loss (P&L), risk reporting, and control functions supporting TGPNA's Natural Gas, LNG, Power, and related commodity trading activities. The role serves as a critical partner to Front Office leadership by providing risk oversight, analytics, valuation, controls, and commercial insights that support informed decision-making while ensuring compliance with internal policies and regulatory requirements.

The position oversees risk control activities across:

• North American natural gas physical and financial trading, marketing, transportation, and storage.
• LNG marketing, trading, storage, transportation, and liquefaction capacity management.
• Sales and marketing of petcoke, sulfur, and other dry bulk commodities produced by affiliates and third parties.
• Related commercial agreements, including sales and purchase agreements, transportation contracts, and storage arrangements.

Key Responsibilities:

Leadership & Team Management

• Lead, coach, develop, and manage a team of Middle Office Risk Control Analysts, fostering a high-performance culture focused on accuracy, accountability, and continuous improvement.
• Manage departmental resources, workload prioritization, performance management, and employee development.
• Conduct performance evaluations, establish development plans, and support career progression of team members.

Risk Management & Commercial Support

• Partner closely with Front Office personnel to evaluate the risk impact of trading and commercial transactions, supporting business growth through effective risk analysis and oversight.
• Develop and maintain a deep understanding of commodity market structures, trading strategies, valuation methodologies, and risk exposures across Gas, LNG, Power, and Dry Bulk trading activities.
• Lead independent risk assessments and provide actionable insights to support commercial decision-making.
• Assess and report key risk metrics, including Value-at-Risk (VaR), Maximum Loss, stress testing, exposure analysis, and other relevant measures.

Position, P&L, and Risk Reporting

• Ensure all trading activities are accurately captured, modeled, valued, and reported within risk management systems.
• Oversee the preparation and review of daily position, P&L, and risk reports for management and business stakeholders.
• Ensure the completeness, accuracy, and timeliness of internal and regulatory reporting requirements.
• Present trading results, exposures, and emerging risks to senior management and key stakeholders.

Governance, Controls & Compliance

• Monitor compliance with trading authorities, risk limits, and internal control requirements.
• Investigate and escalate breaches, control exceptions, and non-standard transaction requests as appropriate.
• Develop, implement, and enhance Middle Office policies, procedures, controls, and governance frameworks to support business growth and changing market conditions.
• Ensure compliance with applicable regulatory requirements, company policies, and established risk management standards.
• Oversee identification, reporting, and remediation of operational risk incidents, near misses, and control gaps.

New Products & Market Expansion

• Evaluate transactions involving new commodities, delivery locations, trading strategies, or risk management structures.
• Participate in new product approval processes, assessing liquidity, valuation methodologies, operational readiness, and ongoing monitoring capabilities.
• Provide risk guidance for new business initiatives, market opportunities, and commercial structures.

Cross-Functional Collaboration

• Collaborate with Operational Compliance, Operational Risk, Back Office, Finance, Credit, Legal, Internal Controls, and Trading Systems teams to ensure consistent risk governance and operational excellence.
• Support enhancements to trading, risk management, and reporting systems to meet evolving business requirements.
• Serve as the primary point of contact for trading-related risk inquiries and complex transaction modeling.
• Coordinate with global Middle Office teams in Geneva and Singapore to promote consistency across risk management processes, controls, and reporting standards.

Systems & Process Improvement

• Lead initiatives to optimize Middle Office processes, controls, reporting capabilities, and operational efficiency.
• Manage system upgrades, integrations, maintenance projects, and risk management technology enhancements.
• Support cybersecurity and data protection efforts related to trading and risk management platforms.
• Drive continuous improvement initiatives to strengthen controls, eliminate identified risks, and improve reporting quality.

Accountabilities

• Ensure accurate and independent position, P&L, valuation, and risk reporting for all TGPNA Gas & LNG trading activities.
• Maintain robust risk controls and governance processes that evolve with business growth and market complexity.
• Provide transparent reporting of risk exposures, control issues, and operational concerns to senior management.
• Support strategic and commercial decision-making through effective risk analysis and communication.
• Foster strong working relationships across Front Office, support functions, and global Middle Office teams.
• Ensure full compliance with the Company's Code of Conduct, Business Integrity standards, and applicable regulatory requirements.

Candidate Profile

• Bachelor’s degree in Accounting, Finance, Mathematics, Economics, or a related business discipline required.
• Master’s degree and/or relevant professional certification preferred.
• Strong understanding of the energy industry, commodity trading, macroeconomic principles, risk management, and modern financial concepts.
• 5 to 7 years of experience within a commodity trading organization, preferably in a mid-office or risk management function; prior supervisory or team leadership experience preferred.
• Demonstrated experience with North American Natural Gas and LNG markets, including knowledge of natural gas transportation and storage, physical and financial trading, and dry commodity markets.
• Strong analytical, quantitative, and technical problem-solving skills, with the ability to interpret complex market and trading data.
• Excellent interpersonal, verbal, written, and presentation communication skills, with the ability to effectively engage stakeholders across all levels of the organization.
• Proven ability to thrive in a fast-paced, high-pressure trading environment while managing multiple priorities and meeting critical deadlines.

Additional Information

Domain: Finance

Type of contract: Regular position

Experience: Minimum 6 years

Employer company: ATLANTIC TRADING AND MARKETING INC.