Senior Financial Controller
This position is responsible for supporting the commercial accounting activities of the Trading Company.
The key task of this role is to provide financial and management reporting and financial analysis for the trading and marketing business units and ensure maintenance of controls within agreed corporate guidelines and governance risk policies, including financial reporting to IAS/IFRS and UK GAAP standards.
The company is strongly focused on rapidly growing its capability; developing new innovative products across multiple commodities within new markets. The role includes commercial contract assessment, developing accounting policy, processes and financial reporting to support these targets will play a key part in this success.
Duties and Responsibilities:
- Financial and Management Reporting
- Prepare monthly, quarterly and annual reporting, for the marketing and trading business units
- Reconcile gross margin results to the trading system reported profit and loss on a monthly basis
- Ensure all marketing and trading business reporting is in compliance with IFRS and UK GAAP disclosure requirements
- Ensure marketing and trading related invoice details in the accounting system correctly reflect the appropriate indirect tax treatment
- Ensure compliance with accounting policies, corporate guidelines and risk policies
- Ensure accuracy and completeness of the accounting records relating to the marketing and trading business results
- Financial Analysis
- Perform variance analysis and analytical review of gross margin on a monthly, quarterly and annual basis
- Produce the annual financial budget for the marketing and trading business units
- Produce forecasts as updates to the financial budget for the marketing and trading business units, on a quarterly basis or as required
- Perform sensitivity analysis on forecast results based on consideration of new business activity and related accounting policy alternatives
- Support marketing and trading business unit reporting needs, including ad hoc analysis as required
- Commercial Contract Assessment
- Understand the key terms relevant to financial reporting and associated processes of all marketing and trading related contracts
- Review and advise on accounting implications of all marketing and trading related contracts
- Support the review of accounting implications of new marketing and trading contracts, including new business activity and any amendments to such existing contracts
- Ensure marketing and trading contract terms are correctly reflected in the accounting records in accordance with IFRS, UK GAAP
- Work with the Front and Middle Office teams to ensure the relevant contract terms are correctly reflected in the trading system
- Ensure that accounting records related to the marketing and trading business are reconciled to underlying energy contracts on a timely basis
Candidate Specification:
Qualifications:
- Qualified accountant with 5 years PQE essential.
Skills:
- Good understanding of accepted accounting, reporting and control principles, foreign currency translation and internal control framework in the UK
- Ability to interpret legal documents/contracts and identify and extract key information
- Good analytical skills
- Excellent computer skills, particularly spreadsheet and data handling.
- Good working knowledge of finance systems
- IAS/IFRS understanding especially IAS39 IAS32 relating to Financial Instruments/Derivatives, or equivalent US GAAP FAS133 Accounting for Derivative Instruments and Hedging Activities would be an advantage
- Knowledge of trading systems an advantage
- Exposure to new systems implementation would be an advantage
- Highly effective written and verbal communication skills
Competencies:
- Ability to be flexible in terms of the type of work
- Strong desire to learn new skills
- Ability to digest and evaluate new information and focus on key issues/ impacts
- Concern for accuracy and ability to meet tight deadlines
- Diligent and dependable
- Excellent organisational and execution skills
- Able to work as part of a team as well as individually
- Able to work effectively cross functionally with all areas of the business
Experience:
- 5-8 years experience in a trading accounting position in a commodities trading environment.
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