It's My Job

It has been one week since I “officially” started my new job. Correction : my new job function. I am still employed at the same company, but instead of being in Portfolio Management, I am in Business Control. And from conversations I’ve had with many of you, I know you are not quite certain what I do at work. So, here is a (hopefully) understandable explanation of the departments (as they relate to my particular job / business unit / company).

Portfolio Management (Valuation & Risk Management)
--optimize the value of the supply chain and assets (portfolio) by monitoring the business portfolio and commercial environment
--increase financial margin while reducing costs and risks
--ensure that commodity and foreign exchange risks are measured and managed in a portfolio context
--provide deal and project valuation services in a portfolio context
--ensure Portfolio’s models, tools, and processes evolve as needed
--provide annual budget forecasts for the supply chain (operational business), monthly updates, and explanations of variances in budgeted figures versus actual results

Business Control (Finance, Accounting and Risk Control teams)
Finance & Accounting
--management control (budget, medium term plan)
--performance monitoring (results and cash flow)
--financial and fiscal monitoring of commitments (acquisitions, disposals, reorganisations, investments, guarantees)

Risk control
--validate transactions to ensure economic & market risks are captured accurately and are in compliance with Risk Policy
--monitor and perform control actions on the commodity and currency risks ; report exceptions and troubleshoot and repair immediately
--document all financial deals and prepare reports as required by IAS and IFRS
--follow internal control procedures to ensure proper documentation and information accuracy on transaction modelling, trade capture and deal maintenance. Create, modify, and standardise controls (processes & procedures) as needed
--audit and control inputs into and calculation methodologies within the business unit


Ok, maybe that’s not so clear? Or, it is clear from a conceptual view, but I don’t think it’s clear what I’m giving up and what I’m taking on. Basically, I no longer do the calculation of the hedge requirements or deal transactions. Instead, I validate the calculations once they are done to make sure accurate & consistent assumptions were used, that a calculation was actually done, and that the deal does not add risk to the group. I’ve basically moved from the “Front Office” to the “Middle Office”. Not really a “creator” but a “monitorer”. And, I know, that doesn’t sound interesting ; and, it sounds more bureaucratic. But, it is a much better fit for me. When I first started in Portfolio with the company 6 years ago, it was a great fit. Now, it’s more technical and high-strung than I prefer.


Also, I put “officially” in quotes because I technically made the change effective July 1, but due to my being on holiday, and other co-workers (including my new boss) being on holiday, I was still doing my old job functions until last week. Well, I’m still doing some, to be honest. And, well, ok, the major reason I am now in my new job function is because I finally changed desks.

And what does changing desks entail ...

It seems it means you ask your assistant to make the request to ‘the people’ in the building and your request sits there a week or two or three and finally you get so fed up you bring in your own screwdriver to remove the “security” lock on your laptop, and you move yourself.

I used to have a ‘room with a view’ – a gorgeous view of Paris/Montmartre, the clouds, sun, etc. Now, I have a hotel. My new area is much quieter, but also darker. The lights are on a sensor, so they often go out. And you can sit in your chair and wave your arms like a goof, but that doesn’t activate the lights. In my old space that was fine because there was all sunlight. I’m not even thinking about how dark it’ll be when winter comes.

I was sitting in an area that was much noisier / active (stands to reason as it operations & trading) and in closest proximity to 3 French men & a Belgian. So it was 90% French all the time, and I found that as every day passed, I was less a part of the group than the day before. (Sure, I didn’t make much effort to stop that from happening ; I think such effort would’ve been futile.) But, I didn’t mind their talking – conversations were business focused, to the point, and short.

Now, I’m in a super quiet part of the floor, in one of the corners, so people don’t really walk by. It’ll be quiet, which I like, but then when people do talk it seems intrusive rather than a part of business. The two women behind me seem to like to talk, and they think they’re being helpful by whispering, but it makes it worse! Instead of blocking out regular talking, all I hear is the high pitch frequency that accompanies a whisper. Nails on a chalkboard. I’m hoping that when the other 2 people in the desk area return from holiday next week that the whispering will stop.

The other point of contention will be the air conditioning. The two women don’t like it because it makes noise. But when we turn it off (each area of 4-8 desks has a remote to control the a/c, lights, window blinds), it gets warm and stuffy. However, most French seem to be cold all the time (e.g. when temperatures dropped from upper 80s into upper 60s two weeks ago, scarves, sweaters, turtlenecks, etc. were making appearances).

This should be interesting. But, I’d better learn to adapt as this is my space for 28 more months!

My new space