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Course Level
Intermediate
Delivery Method
Live Instructor-Led Virtual Course
Professional Development Credit Hours
10
Pre-requisites
Recommended: Fundamentals of Energy Futures or equivalent knowledge.

"Extremely applicable topic with an equally effective and knowledgeable instructor. I wish I would have taken it earlier in my role. I will be sending my entire team to this class!" Avista


Faculty

Nigel Harris is a director and principal consultant at Kingston Energy Consulting, which he founded with Mary Jackson in 2002. He has been helping energy traders to analyse and understand the markets for over 25 years, initially as a developer of market analysis software systems, and more recently as a consultant. At Kingston Energy Consulting, his main focus is on providing education and information transfer to participants in the energy trading business, through instructor-led classroom training, web-based training development, research projects, workshops, briefings and research-based report writing. In his work with Mennta Energy Solutions, he has created a library of new instructor-led and web-based courses on European gas and power markets and trading. In 2005, he worked with Mary Jackson to develop the popular Oil Trading Orientation course, which has since been presented at venues all over the world. He has also extensively revised and updated many existing courses on derivatives, hedging and risk management.  He regularly presents this material both at public venues and as in-house, often customised, courses. He is co-author of a series of highly regarded reports on European natural gas trading and has also contributed to reports on power markets and oil trading. In previous roles, he was a key member of the team that initially designed and developed Saladin's innovative Petroleum Analysis Workstation, a system that became an industry standard for historical price analysis during the 1990s and remained in use in the industry for two decades. During this period, he worked closely and extensively with oil and gas traders around the world to understand their information and analytical requirements. He also spent some years as an independent consultant, working mainly with software and information providers to help them better understand the oil and gas trading sectors.

Larry G. Lawrence President of Enterprise Risk Consulting, LLC, has over 30 years of experience in energy risk management and trading. His experience includes financial trading in energy and equity markets, physical and financial risk management and trading consulting, physical and financial portfolio management, technical and options analysis, corporate education, advisory service publishing, and institutional sales. Mr. Lawrence has extensive experience in trading and risk management implementation for energy companies. His experience includes hedge strategy development, tactical trading assistance, the development of trading and risk management policies, procedures, and control structures, the review and assessment of risk management programs, risk and performance measurement, risk assessment, trading and risk system selection and implementation, transaction structuring, real option valuation and modeling, market structuring, development of forward price curves and term structures of volatility, credit risk management, and trading and risk management education. His work includes the evaluation and development of risk system functionality to support internal and external compliance with risk policies. He has developed and delivered educational material covering physical and financial instruments, physical power, natural gas and oil markets, physical and financial trading and hedging, option valuation, hedging with options, the development of a risk management program, trading controls, value at risk, technical analysis, technical trading, and basis trading. Mr. Lawrence has worked with many public power agencies in the South Central, North Eastern, and Western regions of the U.S., assessing and developing hedging strategies and risk management policies and controls, conducting trader training, and advising on the development of physical supply portfolios, renewable power, congestion risk management, and financial hedging instruments. He has worked with local distribution companies to develop control and reporting processes for physical natural gas trading and hedging, regulatory risk management, transportation asset development, and natural gas marketing strategies. Mr. Lawrence has assisted industrial energy consumers in assessing their energy-related risks, in developing strategic hedging frameworks, and in implementing supply procurement programs. Mr. Lawrence worked extensively with investor-owned electric utilities during the late 1990s and early 2000s, implementing hedging programs; developing and implementing hedge optimization models, asset valuation models, risk models, and performance measurement models; developing risk management and business strategies for retail providers; implementing credit risk management programs, and training power and fuel traders. Mr. Lawrence holds the BS in Communications from the University of Texas at Austin. He is registered with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) as a Commodity Trading Advisor (CTA), and with the State of Texas as an Investment Advisor.


Accreditations

NASBA: Mennta Energy Solutions is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org

CPD Certification Services: The CPD Certification Service works with Mennta Energy Solutions to ensure valuable knowledge is structured to complement the universal guidelines of Continuing Professional Development. Mennta Energy Solutions courses are approved by CPD at one credit per training hour.

BAC: Mennta Energy Solutions is pleased to be endorsed by the BAC for Independent Further Education as a Short Course Provider. Endorsement covers courses delivered in the UK only.

GARP: Mennta Energy Solutions is registered with GARP as an Approved Provider of Continuing Professional Development (CPD) credits.

Front to Back Office: Trading Controls, Risk Measurement and Modelling (VIRTUAL) - FTBOEV


Course Schedule

Date Time Location Price* Registration Deadline**
3-6 Oct 2022
Register
8:00 - 11:00 BST / 3:00pm - 6:00pm SGT
Zoom: Europe to Asia-Pacific
$ (USD)1,315.00
2 Sep 2022
1-3 Nov 2022
Register
10:00am - 1:00pm EDT/ 15:00 - 18:00 BST
Zoom: Americas to Europe
$ (USD)1,315.00
30 Sep 2022

*Prices do not include VAT, GST, or any other local taxes. All applicable taxes will be added to the invoice.
**Please register by the deadline to help us ensure sufficient attendance and avoid postponing the course.


Course Summary

Front to Back Office: Trading Controls, Risk Measurement and Modelling is a VIRTUAL classroom course presented by the energy training experts at Mennta Energy Solutions that is open to the public.

This fascinating course will give delegates a thorough understanding of best practice controls to be applied in commodity trading activities. It also offers in-depth coverage of systems requirements, credit risk management best practices, risk and performance measurement, and a strong focus on capital adequacy issues. Subject areas covered include recent developments in regulatory and legal compliance, and ethics.

This virtual solution is comprised of four live instructor-led sessions hosted on state-of-the-art training software with video, audio, chat, live polls, breakout sessions and much more!  The program will also include several self-study assignments to maximize the time with the instructor.

The course materials were last updated in August 2021.  CPE credits reccommended field of study are Specialized Knowledge.


Who Should Attend?

This is basic level course and there are no prerequisites.  Class delegates include everyone from support staff to management from trading, risk management, operations, accounting, credit, and contracts groups. This workshop is perfect for those concerned with "front office", "mid-office", and "back office" functions for international and domestic energy commodity companies (crude oil, petroleum products, natural gas, electricity and coal) and other commodities (grains, metals, etc.).


Course Content

  • Market risk
    • Different types of market risk
    • Measurement methods
    • Risk limits
  • Operational risk
    • Sources of operational risk
    • Mitigation techniques
  • Regulatory and legal requirements
  • Additional risks to control: systemic, liquidity
  • Discussion of key industry case studies (pre-reading for class)
    • Pre-class case study reading (30 minutes)
  • Developing trading and risk management controls
    • Risk management control structure and the chain of command
    • Risk tolerance
    • Understanding types of risk, and setting trading authority limits and procedures
    • Trading room controls
    • Effective risk management systems
    • Best practice guidelines
  • Regulatory and legal compliance
    • Key regulatory organizations and their requirements
    • Sarbanes-Oxley
    • Dodd-Frank Act
    • Other key regulations and their implications
  • Trader ethics
    • Definitions "“ market manipulation and misconduct
    • Shades of gray
    • Organizational perceptions
    • Ethics in energy trading
  • Discussion of key industry case studies (pre-reading for class)
  • Market price risk management and controls
  • Foundations for risk measures
  • Risk modeling methods
    • Types of stress testing
    • Stress testing versus "at risk"

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