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Financial Risk Analyst 3 

Non-Union Position
Accounting - Mid-Office; Portland, Oregon (US-OR)  

Hybrid schedule available for Oregon & Washington residents. 
Regular FT 
Posting # 4327  


The Role:


This position is responsible for administration of the Financial Risk departments Middle Office functions including implementation of, and compliance with, the Company’s financial risk policies, SOX compliance, processes, and procedures principally related to derivatives and other natural gas commodity contracts, and associated analytics. This position is responsible for mark-to-market calculations, energy credit risk, and Allegro (ETRM) system usage and reporting.  This position coordinates activities with the Gas Supply and Gas Accounting departments, along with other suppling other departments information on Middle Office activities, among other duties.

Day to Day:


  • Assure compliance with the Company’s established financial risk policies and procedures.
  • Design and maintain an effective internal control structure over transactions. 
  • Perform calculations of MTM and credit exposure for physical and financial gas transactions. 
  • Daily use of Allegro’s Horizon system for use in regular duties, increasing functionality and troubleshooting.
  • Review and approve all physical and financial transactions to ensure compliance with relevant Company policies, procedures, and SOX controls implementation and review.  
  • Identify weaknesses and opportunities for enhancement in the control environment; develop solutions and implementation of strategies.
  • Perform Middle Office functions including deal validation, confirmation, valuation, contract administration, derivative credit approval and monitoring. 
  • Foster a cooperative working relationship with front and back office, as well as other departments.
  • Flexibility to move quickly between tasks and address changing critical requests including inside and outside the department with a positive attitude.
  • Attention to detail in a fast-moving environment during tight windows between available data and deadlines.
  • Coordinate with management initiatives of the Gas Supply Strategy and Policies Committee.
  • Ongoing and new project management duties as new Company and department initiatives arise.
  • Assist in selection, development, and implementation of systems to assure accurate, timely, and complete information flow and reporting.
  • Assist in the contract administration and review of various contracts to ensure compliance with the Company’s objectives and policies.
  • Implement contract terms; facilitate contract approval process. Initiate, coordinate, new ISDA contracts or modifications to existing contracts in coordination with Front Office and Legal Departments.  Ensure new contracts are compliant with existing Company policy and risk tolerance.
  • Monitor and report on Company's derivative counterparty credit risk exposures.  Maintain and enhance credit exposure tracking and reporting.  
  • Other Middle Office related duties as assigned.
  • Coordinate and maintain contracts subject to ASC 815 (FAS133).
  • Maintain and operate Financial Risk applications and models.
  • Develops models for forecasting.
  • System administration of data feeds, trades, and compliance within trading system.
  • Apply statistical methods to NW Natural’s Gas Supply planning to optimize management of the natural gas portfolio.
  • At-Risk analysis (VaR, CFaR; EaR; simulations) to measure and monitor risks using analytical tools.
  • Supports Company’s commitment to a culture of safe work practices.

Come on your first day with:


  • Bachelors’ Degree in Economics, Finance, Accounting, or related field.
  • Strong preference for experience with the natural gas product in Allegro’s Horizon ETRM system.
  • Understanding of commodity purchase concepts and operations in a utility environment regarding front, middle and back office.
  • Natural gas market experience.
  • Knowledge of and experience with physical commodities and or financial derivative instruments.
  • Working knowledge of ISDA Master Agreements, Schedules, Credit Support Annex and DF 2012 and 2013 Protocols.
  • Working knowledge of NAESB Master Agreements and Special Provisions
  • Requires a minimum of 5-8 years of relevant experience.  
  • Must possess strong decision making and analytical skills.
  • Excellent organizational skills with attention to detail. Demonstrated projects skill and ability to produce effective documentation for a variety of audiences. 
  • Strong communication and interpersonal skills including the ability to work with individuals at all levels of the organization and across departments.  Demonstrated ability to verbally communicate clearly and concisely.
  • Ability to work alone on assignments and stay self-motivated.
  • Experience providing valid evidence of business activity as part of compliance and reporting duties.
  • Advanced skill with Microsoft Excel; and intermediate skill with Microsoft Word, and PowerPoint.


Preferred Skills:


  • Knowledge of modeling techniques utilizing applied mathematics and statistics, and database skills.
  • Report writing skills (i.e., Power BI, Crystal Report Writer, or SSRS).
  • Understanding of market and credit risk measurements: VaR, CFaR, sensitivity, and stress testing.
  • Understanding of ASC 815 (FAS 133) accounting rule, and its application to energy transactions.
  • SOX and or policy compliance experience.
  • Contract administration experience.

What we offer:


Work Life Balance -

  • Up to 23 Vacation Days 
  • 2 Weeks' Sick Time 
  • 10 paid holiday and 3 floating holidays. 
  • Flexible work arrangements 
  • 3 weeks paid parental leave
  • 1500 Sq foot exercise facility and secure bike room. 


Financial -

  • Meaningful Annual Incentive Bonus Opportunity in addition to base salary
  • Generous 401K company contribution and match. 
  • 15% Discount on ESPP
  • Up to $5250 a year in tuition reimbursement 


Discounts -

  • 20% off natural gas service 
  • Up to 30% discount at NW Natural Appliance Center
  • TRI Met Pass for all HQ employees
  • Generous discounts with Verizon & AT&T Wireless 


Base salary range: $90,350.00 - $128,750.00 per year, depending on qualifications

Annual Target Incentive: Level 3, 9.5% target
Targets are calculated using eligible earnings during plan year participation. Payout, if earned, is based on company and individual performance for each plan year and may range from 0% – 200% of target. Targets are subject to change in subsequent plan years. Must be employed by September 30 in order to receive any prorated payout.    


Application Process: To be considered for this position, submit a complete electronic application including cover letter and resume via our website.


Deadline: 3/28/23


Disclosure: We are a drug free workplace and we comply with Federal Drug Free Workplace Act and Department of Transportation regulations. Pre-employment drug tests are part of the hiring process and apply to all positions.


All applications must be submitted through NW Natural’s Electronic Application System. Resumes submitted via email, fax or mail will not be accepted in lieu of an electronic application.


NW Natural is proud to be an equal opportunity employer. We welcome and embrace our candidates’ diversity and take affirmative action to employ and advance individuals without discrimination on the basis of race, color, sex, gender identity or expression, sexual orientation, religion, age, physical or mental disability, veteran status, pregnancy (including childbirth or related medical conditions), national origin, marital status, genetic information, and all other legally protected characteristics. We forbid discrimination and harassment in the workplace based on any protected status or characteristic. A criminal history is not an automatic bar to employment with NW Natural. Instead, we make individualized assessments regarding qualifications and backgrounds. NW Natural is also committed to providing reasonable accommodations for individuals with disabilities, individuals with sincerely held religious beliefs, and disabled veterans in our job application procedures. If you need assistance or an accommodation as part of the application process, please contact us at or  (971) 979-6341.


NW Natural does not accept unsolicited submissions or assistance from search firms for posted positions. Resumes submitted by search firms working under a valid and current written contract with NW Natural valid written Statement of Work in place for this position from NW Natural HR/Employment will be deemed the sole property of NW Natural. No fee will be paid in the event the candidate is hired by NW Natural as a result of the referral or through other means.

Nearest Major Market: Portland Oregon

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