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Enron Mail |
It is critical that RAC speak as one here. Be sure to coordinate with Tribolet and Hachen on this stuff. Rick
-----Original Message----- From: Port, David [mailto:IMCEAEX-_O=ENRON_OU=NA_CN=RECIPIENTS_CN=NOTESADDR_CN=6F4B8768-8C722CE7-86256887-735EAA@ENRON.com] Sent: Tuesday, February 27, 2001 6:37 PM To: Buy, Rick Cc: Gorny, Vladimir; Murphy, Ted Subject: EES Sensitivity: Private I had a meeting today with Janet Dietrich, Wanda Curry and Sally Beck in connection with the forthcoming "Doorstep" reviews of EES. In an attempt to head this off, Wanda'a group had prepared a quick summary of the state of their world. From a risk management standpoint it appears to me that urgent tactical fixes required are as follows: Characterization and representation of EAM options in the risk system; Tarriff curves required; No intra - month books; J C Penney deal to go in tomorrow; Inability to track roll - off of MTM value into actual cash paid or received; Potentially inaccurate credit exposure numbers due to inconsistent counterparty data in their systems Obviously Janet is very keen to manage expectations in this area, and I think one of the key points is their value at risk, which I think could jump as points 1 to 4 above are tackled. The heads - up here is that I believe some discretionary VAR may be required shortly. DP
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