Commodity Risk Management, Corporate Governance, Policies & Procedures, Sarbanes/Oxley

Jack Pizzitola is a principal with International Commerce, LLC. He specializes in finance, audit, compliance and technology solutions, in both conventional, and energy trading environments. Mr. Pizzitola focuses on business process improvement, trading technology, joint-venture auditing, and Sarbanes-Oxley controls development and testing.

Jack brings 28 years of experience in a variety of professional leadership positions at large international companies, including three years of international experience spanning Europe, Africa, Asia and the Middle East. He has demonstrated leadership and achieved high impact results in audit, business process improvement, and energy trading organizations. In addition to energy business experience, Jack has demonstrated entrepreneurial skill through independent real estate development, business development and business acquisitions

Before forming International Commerce, Mr. Pizzitola was Vice President, Technology Strategy and Ventures at Dynegy. Prior to that, he was Vice President - IT for Koch Energy Trading (Gas and Power) Pipelines, Chemicals and Liquids. Jack worked for Texaco Inc. for 15 years. His last few roles, included Credit Manager, Director Business Process Improvement, and Manager IT. While Manager of IT, Jack led the effort to develop two proprietary software applications around natural gas marketing and oversaw the outsourced development of a state-of-the-art SCADA system for Bridgeline Pipeline.

RELEVANT EXPERIENCE

Jack’s experience is, in part, illustrated in the representative projects below.

• Industry:
  • Texaco Inc. - Sr. Domestic and International Auditor - Was responsible for leading audits all over the world, focused on internal controls, operational efficiencies and material cash recoveries. Internally focused JV audit recoveries exceeded $12mm. Served 10 years in this capacity, and was the only employee to ever be awarded the Chairman's award twice.
    Types of entities audited include:
    • E&P
    • Refining
    • Chemical
    • Crude Oil and Natural Gas Accounting
    • Natural Gas Trading
    • Pipeline
    • Marine
    • Contractors/Fraud

Jack Transferred to Texaco Natural Gas and served a year as credit manager, implementing an in-house designed credit management application. Served 3 years as IT Manager, implementing both a tactical and a strategic natural gas trading system as well as a custom-developed SCADA system for Bridgeline Pipeline. The strategic system was acquired by Triple Point and is still in use at several fortune 500 companies.

• Koch Industries Inc - Vice President of IT for Koch Energy, Koch Pipeline, Koch Chemical and Koch Liquid - CFO for Koch IT
  Partnered with corporate IT and business leaders to provide cost effective, business focused IT services and applications.

  • Combined multiple Koch IT organizations in Houston into one, and squeezed out significant cost savings and operational efficiencies.
  • Converted a large number of contractors to employees and rationalized contracts and processes where appropriate.
  • Implemented Trans-Energy for midstream pipelines
  • Implemented Right Angle for liquids
  • Absorbed IT organization of acquired assets of Delhi (midstream gas company)

• Transferred to Koch Ventures - Internet Business Strategies - focused on use of the internet to further Koch's core businesses. Developed and execu

• Dynegy - Vice President - Technology Strategy and Ventures - Focused on leveraging IT to create new revenue and/or equity sources from the base IT spend in support of Dynegy core businesses. Acquired equity stakes in multiple entities to drive power or bandwidth consumption and increase portfolio value.

• Process and Controls:
  • Northwest Power and Coal Company - Served as subject matter expert regarding trading for a large utility that both produced its own fuel (coal) as well as generated power from multiple sources. When Sarbanes-Oxley requirements became law, was retained to develop processes and enhance controls to meet SOX requirements. Extensive original work around manual process systems and documentation was required.
  • West Coast Independent Power Producer - Worked with Internal Audit Management to identify, document, and test internal controls for their gas and power trading operations. This engagement was in response to the recently enacted Sarbanes Oxley requirements.
  • Large Independent Refiner - Lead engagement on a project to set up processes and controls around crude oil trading, including both SOX and business controls. Reported to the Chief Risk Officer and Director of Controls and Compliance. This was a "green-field" project associated with implementation of a newly acquired application focused on Crude trading.
  • Mid-Atlantic Gas Utility - Key role in engagement to develop processes and controls around business controls and SOX requirements associated with the implementation of a gas trading application. Project included complete redrafting of process and controls along with organizational restructuring. Entire project completed in one year -- implementation, process and controls in 6 months. The project contained significant change management activity, but that was not the focus.

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