Finance Manager - Oil Trading

Job description / Role

We are searching for an experienced Oil Trading Finance Manager to report into the FD of an Oil group in Dubai.

Responsibilities

The successful candidate would be in charge of the oil trading division. Ensure that statutory and financial management requirements are delivered on a timely basis. Produce trading book P&L split by product with attribution of central overheads.

Main tasks & Accountabilities
• Preparation of end of day valuation, P&L attribution, Balance Sheet and cash flow control for oil trading division.
• Partner with the trading leadership team covering Front, Middle and Back Office to provide support on all finance related matters.
• Work with banks to ensure compliance with their requirements and continuity of credit lines.
• Develop a set of internal controls for the trading operations that will improve the financial and commercial support provided to the business
• Lead the project to integrate the 2 IT systems applications to ensure the automation of front to back workflow is implemented across the group.
• Prepare statutory accounts
• Ensure that Hedging transactions are properly accounted for and that trading exposure is monitored and reporting to senior management.
• Establish effective credit management in conjunction with Group Finance Director to effectively control exposure to suppliers and customers.
• Ensure that all inter-company balances are agreed with group-finance within agreed timescales to support the fast close of monthly accounts.
• Liaise with external banks, auditors & tax advisers.
• Prepare quarterly reforecasts and annual budgets.
• Develop and maintain SOPs manual and update to reflect developments within the group.
• Lead and develop a small team of Accountants,
• Develop a Balanced Scorecard for the required group entities that ensures that Oil Trading Division

Salary:
AED 28,000 to 35,000 per month inclusive of fixed allowances.
Additional benefits: Family flights & medical insurance

Requirements

• Qualified Accountant (ACCA, CIMA, ICAEW)
• Bachelor's degree or master's degree in accounting, business, economics, finance, or a related field;
• Min 5-8+ years PQE Experience of Oil Trading and solid understanding of the transactional process.
• Good understanding of Commodity Trade Finance process and dealing with bank lenders; e.g. letter of credit facilities and supporting documentation requirements
• Strong understanding of IFRS - including Hedge Accounting
• Preferred: Big 4 Audit Experience
• Personality: ambitious, driven, dynamic, self-starter, someone who challenges the norm.

About the Company

Inspire Selection is an award winning recruitment agency, headquartered in Dubai which recruits across the Middle East region. We employ highly knowledgeable, professional consultants who are experts in connecting the right people with the right opportunities. Our reputation has been built upon our honesty, integrity and our ability to source candidates of the highest calibre right across our specialist sectors. As a result, we are recruitment partners to a wide spectrum of organisations - from leading blue chip companies to smaller, local businesses. Sectors we cover include HR, Administration, Finance & Accounting, Legal, Sales & Marketing including Digital Marketing, IT, Oil/Gas/Energy, Engineering, Procurement, Manufacturing, Higher Education.