Energy Risk Professional - ERP

(Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ERP modules may be able to interface with an organization's own software with varying degrees of effort, and, depending on the software, ERP modules may be alterable via the vendor's proprietary tools as well as proprietary or standard programming languages.

An ERP system can include software for manufacturing, order entry, accounts receivable and payable, general ledger, purchasing, warehousing, transportation and human resources. The major ERP vendors are SAP, Oracle (PeopleSoft and J.D. Edwards), SSA Global (Baan) and Microsoft. Lawson Software specializes in back-end processing that integrates with another vendor's manufacturing system. See CRM, SAP, PeopleSoft, J.D. Edwards, Baan, Microsoft Dynamics, sales force automation, supply chain management and NRP.

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A professional designation awarded by the Global Association of Risk Professionals (GARP) to individuals who work in the oil, coal, natural gas and alternative energy industries. People seeking this designation must complete a rigorous self-study program, pass a 180-question, eight-hour exam, have at least two years of qualifying work experience and agree to GARP’s professional code of conduct.

Successful applicants earn the right to use the ERP designation with their names, which can improve job opportunities, professional reputation and pay. The ERP program is developed by seasoned energy professionals to teach applicants about real-world scenarios.

Investopedia Says:
The study program to become an ERP covers physical energy markets, financial trading instruments, valuation and structuring of energy transactions, risk management in financial trading, and financial disclosure, accounting and compliance. Individuals with the ERP designation may work for banks, academic institutions, consulting firms, asset-management firms and a wide variety of other organizations concerned with energy risk.