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Job description / Role
My Client is a very well-established business within the Oil Trading sector seeking finance manager to join the team and assist in change management as well as the management of an established finance team
Job Purpos
To lead the financial management of the oil trading division of the group in a fast-paced environment. 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.
Duties
• 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
• Provide timely and accurate documentation required by banks to ensure compliance with their requirements and continuity of credit lines.
• Develop a consistent and comprehensive set of internal controls for the trading operations that will improve the financial and commercial support provided to the business, whilst ensuring effective risk management and Value at Risk monitoring.
• Lead the project to integrate the ERP (Microsoft Dynamics) and Oil Trading CTRM (Aspect) applications to ensure the automation of front to back workflow is implemented across the group.
• Prepare statutory accounts in accordance with agreed accounting principles and in accordance with agreed internal and external timescales.
• 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.
Requirements
Education Level
• Minimum - Qualified Accountant
• Preferred - Bachelor's degree or master's degree in accounting, business, economics, finance, or a related field;
Professional Qualifications or licences
• Holder of an internationally recognised accounting qualification; CA / ACA / CIMA / CPA
Work Experience
• Must have: Qualified accountant with 5-8+ years PQE
• Must have: Experience of Oil Trading and understanding of the transactional process.
• Strong working knowledge of preparation oil trading Profit and Loss Account 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
About the Company
italent has been around since 2012, when we saw that businesses needed better talent solutions for their employment requirements. By focusing our efforts on quality products and services that are simple-to-use and innovative, our team brings you the best results without any unexpected additional costs and unnecessary complications. Simply put, we love helping businesses find and keep the right people.