MIDDLE OFFICE  

Overall Leadership

Overall leadership for the Middle Office, and overall responsibility for the provision of high-quality services to Owners and Clients, is provided by Jeff Walker, Senior Vice President and Chief Risk Officer.  A full biography of Mr. Walker can be found here. 

Contract Administration

Credit

Trading Control

Corporate Development and Regulatory

 

Contract Administration

Leadership

The Contract Administration group is led by Kathy Hevezi, Director of Contracts.

ACES Contract Administration

 

  

"My staff and I have extensive experience reviewing and negotiating contracts - EEIs, NAESBs, ISDAs and structured contracts as well.  Once a contract is finalized, we ensure it is properly administered."

 

 

 

 

Contract Administration Services

This group assists Owners and Clients manage a variety of contract related risks.  Some of the specific activities of Contract Administration include:

  • Master agreement negotiations for physical power (EEI), natural gas (NAESB) and financial transactions (ISDA).
  • Evaluating and negotiating structured and customized contracts.
  • Evaluating and negotiating coal and emission allowance contracts.
  • Ongoing monitoring and administration of contracts.  Back to top 

Credit

Leadership

The Credit group is led by Lou Vitale, Director of Credit.

ACES Credit

 

  

"A sound Credit Risk Management Policy is like homeowner's insurance.  You never think about it until you hear that a tornado is coming.  Then you are glad that you have it."

 

 

 

  

Credit Services

This group assists Owners and Clients manage a variety of credit related risks.  Some of the specific activities of the Credit Group include:

  • Analyzing the creditworthiness of potential counterparties.
  • Monitoring the ongoing creditworthiness of existing counterparites.
  • Negotiating credit provisions in contract.
  • Monitoring ongoing credit exposures.  Back to top 

Trading Control

Leadership

The Trading Control group is led by Melissa Fischer, Managing Director of Trading Control.

ACES Trading Control

 

 

  

"I can't emphasize enough how hard and closely we work with Owners and Clients to get in place clear, accurate and up-to-date Trading Authority Policies.  Having clear written limits on what traders can and cannot do is a great way to mitigate both operational and organizational risk."

 

 

 Trading Control Services

The Trading Control group ensures that transaction execution activities (e.g. trading of power, natural gas, coal, emission allowances) stay within the authorities and guidelines approved by Owners and Clients.  Some specific Trading Control activities include:

  • Assistance with development of Trading Authority Policies.
  • Monitoring compliance with approved Trading Authority Policies.
  • Deal (transaction) capture and validation of deal terms.
  • Ensuring written confirmation of all day-ahead and longer transactions.
  • Mark-to-market valuations of Owner and Client forward transactions.  Back to top 

Corporate Development and Regulatory 

Leadership

The Corporate Development group is led by John Sturm, Vice President of Corporate Development.

 

 

 

 “There are an impressive number of risks that surround the process of supplying energy to customers.  Effective management of these risks requires a disciplined and systematic approach - and a risk aware culture.  Through training, facilitated workshops and the development of appropriate risk policies, the corporate development team assists our Owners and Clients to create their risk management capabilities and culture.”

 

 

 

 

Corporate Development Services

This group has an over-arching role in assisting Owners and Clients understand and implement both energy risk management and (through an alliance with consulting firm MCR) enterprise risk management programs.  Some of the specific activities performed by Corporate Development include:

  • Consulting on energy risk management and enterprise risk management program development.
  • Assistance with the development of risk policies.
  • Risk management training (including training delivered through APM's alliance with NRECA).  Back to top

Regulatory Services

The Regulatory Group focuses on coverage and carefully-targeted regulatory intervention in the structured (ISOs and RTOs) markets.  This group is also involved with other regulatory entities such as NERC (North American Electric Reliability Corporation) and NAESB (North American Energy Standards Board).  Back to top