Our other energy tracks cover how desks make money, how transactions are managed, and how trading data is engineered. This one covers how trading activity is controlled and challenged - the second-line functions that sit between the desk and the regulator.
Credit risk, product control, trade finance, derivatives accounting, controls and surveillance are a coherent professional domain. They share data, they share a control chain, and they are usually learned on the job because nobody teaches them together.
Trading Desks - how desks make money.
ETRM & Trading Systems - how transactions are managed.
ETRM Data Engineering - how trading data moves and is engineered.
Risk, Controls & Surveillance - how trading activity is controlled and challenged.
Finance & Risk Certifications - broader professional and certification learning.
Every programme in this track consumes the same underlying material - orders, trades, positions, P&L, curves, agreements, nominations and physical operations - and asks a different control question of it. They also share one continuous fictional firm, NorthStar Energy Trading, so a learner moving between programmes carries context rather than starting again.
Each is a full master programme in its own right, and they share one continuous case, so a learner moving between them carries context rather than starting again.
These functions are cross-disciplinary by nature. The track assumes commodity-market familiarity rather than prior control-function experience.
Second-line work is judged on whether the number holds up when someone senior pushes back. Each programme is built so you finish able to produce the number, explain how it was derived, and defend the conclusion.
Build detection logic, work an alert to a documented disposition, and tell genuine abuse from a false positive.
Current exposure, netting, collateral and PFE, with the modelling assumptions stated rather than buried.
Attribute a daily move to curve, basis, FX, volume, new trades and model change, and sign it off.
Construct curves, run independent price verification, and justify a mark to an auditor.
Design preventive and detective controls, gather evidence that survives testing, and close an issue properly.
Classify contracts, apply own-use, designate hedges and test effectiveness under IFRS 9 and ASC 815.
Every chapter pairs a short video explainer with an in-depth podcast, so you can learn the concept quickly and absorb the nuance on the move. Around that sit lifetime access, custom pathways, and options for teams.
~10 minutes per chapter - the concept, clearly.
~30 minutes per chapter - the nuance and the war stories.
Revisit the material as your desk and markets evolve.
Sequence programmes and chapters around your role and goals.
Track team progress and capability for organization leads.
Optional on-site intensive workshops for teams.
Ten master programmes covering the second-line functions in a commodity trading business: trade surveillance, credit and counterparty exposure, market data and curves, LNG shipping economics, trade finance, product control, energy attributes, inventory and terminal operations, derivatives accounting, and ETRM controls and audit. Each is 130 chapters.
The desks track covers how a desk makes money. This one covers how that activity is measured, controlled and challenged - the functions between the desk and the regulator.
Yes. They share one continuous fictional firm, NorthStar Energy Trading, so a learner moving between programmes carries the portfolio, counterparties and systems rather than starting again.
Yes. Each is a complete master programme in its own right and can be taken on its own.
Trade Surveillance if you sit in compliance or surveillance; Credit Risk if you cover counterparty exposure; Product Control if you produce or challenge daily P&L; ETRM Controls if you work in audit or operational risk.
No. The track assumes commodity-market familiarity rather than prior second-line experience. Python and SQL are used in the surveillance and data-heavy programmes and are applied rather than taught from zero.
Each programme ends with a capstone that depends on the artefacts built in the chapters before it - a surveillance investigation, a counterparty crisis, a control assurance pack, and so on.
Yes. There is a combined brochure for the whole track and a detailed brochure with the full chapter list for each programme.
Yes. Private cohorts are sequenced to your markets, systems and governance. Tell us the team and we will scope it.
No. They are practitioner master programmes. They map to real roles rather than to an exam syllabus.
Surveillance, credit, product control and controls all consume ETRM data. The ETRM tracks teach the systems; this track teaches what the second line does with what those systems produce.
Use the enquiry link on this page or any programme page, and tell us the roles and team size.
| Feature | Self-paced | Cohort | Enterprise |
|---|---|---|---|
| Format | Written chapters, video explainers and podcasts | Everything in self-paced, plus scheduled live sessions | Everything in cohort, delivered privately to your team |
| Live sessions | None | Scheduled, instructor-led | Scheduled, instructor-led, private |
| Mentorship | Not offered | Not offered | Not offered |
| Access | Lifetime | Lifetime | Lifetime for every enrolled seat |
| Pace | Entirely your own | Guided schedule with a peer group | Agreed with your desk |
| Tailoring | Fixed curriculum | Fixed curriculum | Sequenced to your markets, systems and governance |
| Best for | Individuals learning around a job | Individuals who want structure and deadlines | Desks building the same capability together |
The full chapter list, what each module covers, and how the tiers compare - sent to your inbox as a PDF.
Private delivery for your desk, sequenced to your markets and systems. Tell us the team and we will scope it.
Run this for my deskPrivate delivery for surveillance, credit, product control and audit teams.