The Director of Trade Compliance will support and enhance the existing corporate trade compliance program, focusing on BETM’s proprietary trading activities in power (emphasis on congestion products, virtual bids and basis strategies), natural gas, and weather markets. Identify, investigate, and resolve potential compliance risks ensuring appropriate escalation if necessary. This role will either be based out of our Boston or Houston offices

Responsibilities:

The Director of Trade Compliance will build upon BETM’s existing trade compliance program. BETM’s trading business is regulated by a number of regulatory bodies such as the Federal Energy Regulatory Commission (FERC) and the U.S. Commodity Futures Trading Commission (CFTC). These agencies require a proactive program to ensure compliance with their regulations and that detects and deters market manipulation. Specific tasks include:

• Review and analyze trader transactions to identify potential areas of risk of non-compliance and proactively advise on improvements to trading behavior.
• Refine BETM’s existing trade review process, identifying potential areas for improvement.
• Aid in selecting, implementing and using new trade compliance software and/or other IT solutions designed to enhance compliance.
• Implement random testing of electronic communications (e.g. voice recordings, email and IM) to identify areas where best trading practices are not being met and to investigate potential instances of manipulative behavior.
• Assist the Risk Control team with swap reporting and record keeping requirements implemented by the CFTC in response to Dodd-Frank.
• Work with the Risk Control team to monitor compliance of intraday position limits for all futures and swap products transacted by BETM.
• Work with support functions including Risk Controls personnel to ensure compliance with the rules set forth by the various external regulatory agencies.
• Planning, developing, and implementing training programs for commercial operations personnel to ensure compliance with rules established by the various regulatory agencies (and Exchanges).
• Provide guidance to the Asset Management team regarding provision of service to third-party contracts
• Assist in the development, tracking, calculating and reporting of trade compliance metrics to BETM and Diamond Generating’s Senior Management.
• Work collaboratively to conduct internal investigations, including through the review/collection/analysis of trade data, as necessary.
• Maintain a comprehensive understanding of all compliance requirements relating to the Company’s energy trading activities.
• Travel periodically to participate in industry forums related to energy trading, and to attend meetings held in Diamond Generating’s office locations as necessary.

Qualifications:

• Bachelor’s degree from an accredited university in a related field of study.
• Minimum of five (5) years experience in an energy trading regulatory compliance and oversight role and / or a minimum of eight (8) years in a trading, trading support or risk control role is preferred.
• Detailed understanding of swaps and derivatives as used in the energy industry and how such trading activities may interact to create the appearance of market manipulation.
• Detailed knowledge of ISO/RTO power products (including FTRs and virtual trades), trading strategies and protocols
• Detailed knowledge of major external regulations, including Dodd-Frank and FERC Order 670, Prohibition of Energy Market Manipulation.
• Knowledge of trading operations, trade practices, and/or rules and regulations related to trading on a Designated Contract Market (DCM) is preferred.
• Ability to analyze large amounts of data and compile information as evidence to demonstrate compliance with applicable regulatory requirements.
• Demonstrated ability to prioritize job requirements in a high pressure, multi-task environment.
• Aggressive, analytical self-Director with critical thinking skills and keen judgment.
• Demonstrated ability to effectively communicate (verbal and written) with all levels of internal or external groups.
• Strong interpersonal skills and ability to work in both team environments and independently.
• Proficiency with Microsoft Office
• Experience with Aligne or trade capture systems in general preferred.
• Experience with IM monitoring and speech analytics tools is preferred.

Level, Title and/or Salary may be adjusted based on the applicant's experience or skills.