Job Description
This position reports to the Corporate Accounting Manager. The role interacts closely with other teams in Finance (Reporting, Trading Control/ Accounting) and other departments (notably Legal, Middle Office, Traders and Trading management) as well as with senior management, external auditors, Branch and Group Consolidation department.
The job holder will form the vital bridge between the Trading desks and the Finance team to ensure that new business/contract are reviewed with a Finance focus.
Financial Development
Responsible for front line commercial discussions with the trading desks prior to deals being signed.
Maintain a strong following of the latest business activity and ensure that the trading floor and senior management understand the financial, accounting and tax implications of new business/contracts, in particular providing assistance when drafting new contracts, building new activities, entering into new contracts and dealing with new products while liaising with the appropriate expertise within the Finance teams of the company, branch and the Group.
Keep up to date with developments in accounting standards and invest time understanding and interpreting requirements specific to trading, and developing and reaching consensus with external auditors on said interpretations.
Ensure that the Finance team maintains a strong ability to understand and analyse business activities and accounting standard developments mentioned above.
Accounting Analysis
Assist the quarterly consolidation and annual statutory accounting process, in particular by overseeing with regard to recognition of the company’s long term off balance sheets commitments, IFRS 7 derivative disclosures and all aspects surrounding the LNG MTM accounting policy.
Contract Control
Build a strong understanding of the entire portfolio including long term and short term contracts entered into by the Trading desks.
Challenge the Finance teams’ analysis of the contracts committed by reviewing the contracts summaries produced by the Trading Control team, and the commentary and analysis of results produced each month.
Use understanding obtained from strong position between trading operations and Finance to sense-check the trading gross-margin and associated Financial Statements produced between Trading Control and Corporate Accounting, helping to ensure reported Financial Statements are accurate and complete.
Use understanding gained from analysing the new business and future contracts to assist the budget and planning team in the reporting provided to group .
Quantitative Analysis
Maintain the LNG Fair Value model. Ensure a full understanding and correct application of the latest accounting principles in relation to fair value accounting. Ensuring one can answer questions raised on this topic to management and auditors as required.