Re: Trading Track Information

Tom Wilbeck@ENRON
01/19/2001 03:23 PM
To: Jeffrey C Gossett/HOU/ECT@ECT
cc:
Subject: Trading Track Information

As you know, we are working on an on-boarding process to get the trading
track participants up to speed as quickly as possible in each of their
respective rotations. One of the methods of doing this is to have each
rotational supervisor (you're one of them) put a few points together to
present to each participant on the first day of their rotation with you (or
someone in your group).

For example:
What does you group do as a whole? The Risk Management Group is responsible
for providing information to the trading floor. That information consists of
positions, p&l, and other general information which may be needed by the
floor throughout the day. The information must be 100% accurate 100% of the
time as the gas floor is taking positions based on the information they are
given. In addition, all reports go to SR. Management such as John Lavorato
and Dave Delaney.

The participants need to know several logistics type things such as:
where to sit
User tips on the use of related business hardware (i.e. phone system,
intercom, etc.)
How long/when or if to take lunch: use your discretion.
Expected working hours: Expect to be in the office no later than 8:00 and
preferably by 7:30

It is also important to cover the expected learning criteria with the
participants on their first day:
able to work under pressure - You will be asked to provide reports and
answers to questions on the floor quickly. You will be expected to know and
understand the information that you are giving.
ability to handle multiple priorities - There will be times when you are
faced with several tasks at once. You will be expected to make quick
decisions and understand which is the most important.
meets deadlines - Everyday in Risk you have to meet a deadline. The traders
must have positions and p&l on their desks when they walk in in the morning.
Excellent written communication - Your written communication will be in the
numbers that you provide to the floor.
Excellent oral communication - Again, the traders will expect answers and
expect them quickly. You will need to articulate those in a fashion that is
understandable.
Effective interpersonal skills - see above.
Attention to detail - This is one of the most important considerations of
the job. Again, all information must be 100% accurate, errors are not
acceptable.
Team player - You will be expected to work across all groups upstream and
downstream to provide accurate information and solve related problems.
Excellent organisational skills - speed and accuracy are a hallmark of the
job, therefore you will need to be organized at all times.
Is a motivated worker - self explainatory
Excellent analytical skills - same
Maintains relationships with traders - The trader will be relying on the
information that you provide him. Therefore it is important that he trusts
what you are giving to him and that you are always asking if they need more
or better information.
Effective time management - self explainatory
Competent in Excel - Alot of the work we do is in excel. It is important
that you be able to navigate excel, as well as create efficiencies to make
the job less prone to errors and to run more smoothly.
Competent with ERMS - ERMS is the system that is used to maintain positions
and p&l. All deals flow through this system and all values related to deals
come from this system.
Competent with Risktrac - Risktrac is the system that tracks counterparty
risk and Value at Risk. I expect you to understand what each means, what
the limits are, and how you can reduce and add to value at risk.
Demonstrates knowledge of trading concepts - Work with the traders to
understand why they are putting on the positions that they have. Try to
understand proper hedging strategies etc.

Each participant who comes to your area needs to know your interpretation of
each of these competencies so they can make sure to meet your expectations
while in your area.

Also, the participants need to fully understand exactly what they'll be doing
in your area. Let 'em know with as much detail as possible.

Finally, Do you consider any information a pre-requisite for participation in
your area ?(i.e. Advanced Excel skills...etc)
I'd like to know so we can push the participants to get the needed training
before coming to your group. Advanced Excel skills, preferably a level of
understanding of positions and value at risk.

Please compile this information and forward it to me so I can put it into
some on-boarding material for all of the candidates by their first day of
rotations.

The first candidates will begin on February 1, 2001.

Thank you very much for you time and consideration.

Tom Wilbeck
X57536