Starting Strong as a Business Analyst in ETRM: Key Steps to Success in Commodity Trading Systems

ETRM BA

Starting Strong as a Business Analyst in ETRM: Key Steps to Success in Commodity Trading Systems

When starting as a Business Analyst (BA) working on an Energy Trading and Risk Management (ETRM) system, you should follow these steps:

1. Understand the Commodity

   • Get familiar with the specific commodity being traded (e.g., oil, gas, power, renewables). Understand its lifecycle, market trends, and trading terms.

2. Explore the Trade Flow in ETRM

   • Review the trade lifecycle: Entry, Saving, Churning Reports, Checking Outputs, Performing Logistics, and Financial Reporting.

3. Identify Key Processes

   • Analyze and document the following processes in the ETRM:

     • Trade Entry

     • Report Generation

     • Validation Checks

     • Logistics and Operations

     • Invoicing and Financial Entries

4. Gather Requirements

   • Engage stakeholders (traders, accountants, risk analysts) to gather detailed requirements about their workflows and expectations.

5. Perform Gap Analysis

   • Compare the current system with business needs. Identify missing features or inefficiencies.

     

6. Document Functional Flows

   • Create process flows like the one shown in your image to ensure clear understanding:

     • Enter Trade: Input trading data.

     • Save Trade: Save and validate the trade.

     • Churn Reports: Generate and review analytical reports.

     • Check Outputs: Verify generated reports or calculations.

     • Perform Logistics: Handle operations like scheduling or delivery.

     • Create Invoice: Generate invoices for traded commodities.

     • Create GL Entries: Log entries into General Ledger for financial tracking.

7. Validate Reports and Outputs

   • Test reports, system-generated data, and financial entries for correctness.

8. Continuous Learning

   • Keep updating your knowledge on ETRM trends, regulations, and market needs