Main Purpose:
This role is responsible for analysis and accounting of financial instruments and other balance sheet positions, which includes and not limited to derivatives, hedge rule applications, stock etc. The role will involve discussions with various internal departments to finalize the accounting treatment and reporting to management, getting involved with various accounting projects and related activities.
Knowledge Skills and Abilities, Key Responsibilities:
- Review of trial balance and analyses / commentary of major movements.
- Perform and review revenue recognition checks to ensure compliance with accounting standard for all product supply entities
- Evaluate accounting of various physical and derivative positions and determine application of hedge accounting where appropriate.
- Review areas of required grossing up or netting of the balance sheet and ensure the same is applied per accounting standards.
- Prepare disclosure schedule and lead audit related requirements with internal and external auditors.
- Partnering on various accounting projects
- Ensure proper stock reconciliations are performed by Deals Desk and Operations. Review trade information between the various trading systems and the accounting system (Sun). Work closely with the Front/Mid Office in a fast moving business where inherent risk has to be mitigated by implementing effective controls.
- Preparation & posting of various journals for month end process like prepayment, reclassifications etc
- Internal Recharges
- Inventory valuation
Key Relationships and Department Overview:
- Business Controllers
- Deals Desk (who calculate daily trading result and market risk)
- Operations /Chartering (logistics)
- Trade Finance
- External Audit teams