The key tasks of this role are:

· Leading and managing a small sub team within the Settlements department ensuring the timely settlement of gas and power physical products, from issuing of confirmations to invoicing of these trades across the product range;

· Working closely with Front Office representatives for these products, supporting and initiating improvements to the trading systems and work flow processes within Settlements, Finance and across FO to Settlements, to implementation and extension of these suggestions in order to support the expansion of the company’s geographic and product reach;

· Liaising and working with the Settlements Manager and Transformation teams to develop Settlements capability within the trading systems proactively;

· Liaison with various teams within the organisation from Risk Management, Legal, IT, Finance, Treasury and Credit teams to ensure integrity of data within the trading system to accurate reporting within defined timescales;

· Supporting the trading desk in counterparty relationships and in ensuring quality information flows across the business;

· Maintaining excellent working relationships with counterparties and other teams within the organisation.

· Supporting and developing members of the team in their growth and development.

Duties and Responsibilities:

Gas and Power confirmations, invoicing and reporting

• Ensuring the team actively manages the issue of timely and accurate confirmations to counterparties and investigating and resolving discrepancies;
• Monitoring the number of outstanding confirmations to ensure that risk is minimised;
• Ensuring the team issues invoices for the various commodities and products according to the specific contractual terms by generating sales and shadow invoices, including detailed back up;
• Proactively investigating and taking action to resolve any disputes with counterparties;
• Develop in depth understanding of the various general & bespoke contract terms and conditions for the products and develop robust validation techniques for these invoices;
• Be the key point of contact for FO for gas and power non standard and intergroup contracts;

• Liaising with parent company for the provision of sales and purchases summary to the Reporting team as a basis for accruals and final invoice details for monthly reporting, to meet reporting timetable;
• Ensuring all processes, procedures and controls are constantly reviewed, documented and updated.
• Responsibility for the recruitment, development, motivation and performance of the team
• Working with the Settlements Manager and other Lead Analysts to ensure the Settlements team is efficiently trained across a range of products;
• Building solid working relationships with internal & external counterparties and stakeholders;
• Deputising for the Settlements Manager as required

1.            Examining contracts:

• Generation of Purchase and Sale contracts, and any amendments as required.
• Establishing criteria for the opening of purchase letters of credit or the execution of other forms of payment including advance payments to suppliers;
• Opening of purchase letters of credit independently and setting-up in line with contracts;
• Monitoring incoming letters of credit, or other forms of payment, checking their conditions and securing necessary amendments;
• Securing, checking and approving adequate and complete documentation, both incoming (against our own letters of credit) as well as outgoing (against buyers’ letters of credit);
• Liaising with other administrative departments (including finance and accounts) to trigger all necessary actions and, where necessary, establishing credit and debit notes or other internal documents related to contractual conditions.

2.            Checking with suppliers on the timely delivery and availability of material in ports, to regularly inform shipping department, clients and agents, where necessary and to transmit despatch notes and delivery instructions to all related parties.

3.            Solving delivery problems in cooperation/coordination with the traders.

4.            Assisting traders to solve claims with suppliers and clients.

5.            Arranging payment instructions, related documentation and effect payments according to conditions of the contract, the latter as per the “general rules and authorities to commit” of the company.

6.            Arranging the inspection of material where necessary by neutral inspection companies.

Knowledge, qualifications, skills required to complete the job successfully

• Strong written and verbal communication skills
• Disciplined character who copes well under pressure and pays close attention to detail
• Experience dealing with letters of credit essential
• Ideally some experience of working in a progressing role, physical commodities trading or banking documentation department
• A knowledge of a foreign language, specifically German, would be advantageous
• ERP systems experience, AX Dynamix advantageous

Primary Accountabilities

• Act as gatekeeper to ensure that Credit Risk Procedures are compliant with Management’s expectations.
• Assist and interact with other departments within the Company (Trading, Legal, Contract Desk, Finance, Accounting, Letter of Credit Desk, Cash Control, and others).

Preparation of Credit Lines – Spot Approvals:

• Assess the credit worthiness of the Group’s counterparts, which includes the operating environment, shareholding structure, quality of management, financial structure, and comparison with peers.
• Establishment and renewal of credit lines and spot approvals
• Handle Tenders Terms’ reviewing and assess inherent risks to best protect the Group’s interests.
• Responsible for negotiating reciprocal Credit Lines

Reporting:

• Assisting CRM in monitoring exposures on various counterparts (credit line utilization). Reporting to Credit Control in case of overexposure / credit breach.

Legal:

• Manage parental guarantees received.
• Assist in ISDA’s negotiations between Third Parties and the Legal Department.

Scope & Interactions

• Follow-up on counterpart evolution, meet counterparts.
• Identify and submit alternative Credit Risk Coverage solutions ( banks, Insurances)
• Support new business development together with Traders and Business Development.
• Participate in ad hoc projects (i.e. ETRM 2011 Project); take actions to develop and implement new projects related to Credit Risk Management;
• Participate in the Credit & Risk Management Committee and Trader’s meeting
• Upon Head of Credit Risk’s demand, act as back up in terms of Credit Risks, Credit Control and any daily issues.
• Train and mentor other less experienced Credit Risk team members.

Scope of the Position

• To conduct and manage the middle-offices team of Brussels and London on a multi-commodity scope
• To conduct and manage operation and analyses on a middle-office level

Key Responsibilities and Accountabilities

Coordination and management of the Brussels and London branches for the Middle Office activities which include:

• P&L reporting and performance analysis (and reconciliation with the Back Office)
• MtM computations for the monthly & quarterly closings
• Trade validation (compliance controls, correctness, anti-fraud controls)
• Quality controls on the price curves
• Position and exposure reporting and the related SOX controls
• Master-data and counterparties management
• Static data management and analysis
• Market price calculation and analysis
• Price curves scenarios analysis and building
• Harmonisation of the procedures and reporting across the different branches
• CMO for the different position keeping systems (Openlink)
• Responsible for the new products approval

Reporting and Organisation

• Official reporting line to VP – Risk Management, Credit Control and Middle Office, ETS, London.

Contacts & Networks

• Front Office London – Gas Trading Desk
• Risk, Operations and Middle office London
• Front Office, IT, Operations and Middle Office Brussels
• Credit team
• Back Office

Candidate Specification – Skills & Experience

• University degree preferably in Economics, Finance or quantitative discipline.
• Extensive experience in a Middle Office/Risk environment
• Extensive experience in a similar level role with ability to global perspective, vision and strategy,
• Strong understanding of the energy markets is essential.
• Risk experience in Gas and other commodities is essential whilst experience with Power and CO2 would be an advantage.
• Knowledge of Microsoft Suite and in particular strong excel skills.
• Banking/ Financial Service/ Commodity or Trading background.
• Supervisory skills, ethics and integrity and ability to inspire others
• Stress resilient and personal dedication
• Analytical mind and breakthrough thinking
• Good attention to detail, drive to achieve and decisiveness.
• Good interpersonal and communication skills in order to build and nurture effective relationships across multiple disciplines of ETS organisation.
• Flexibility and adaptability to work in rapidly changing environment
• Proactive approach to problem solving, and ability to identify and set priority actions for the team and handle a high workload.
• Ability to be an effective team member and a good coach within a multi-cultural organization
• Full command of English language (written and spoken).

A leading international upstream Company, but also one of Europe’s largest natural gas Companies.

THE ASSIGNMENT

• This role will be responsible for development and execution of the overall emissions trading strategy (on the secondary and primary markets) considering the current and future requirements of the company.
• The role’s initial focus will be to support the set up of an internal emissions market; create an integrated emissions certificate portfolio based on the most optimal sourcing and arbitrage strategy; ensure the compliance of the group in all respects. 
• The role’s primary responsibility will be to define and execute trading strategies around the emission portfolio.

MAIN JOB FUNCTION:

The job holder takes part in:

• Trading of emissions certificates and related derived products.
• Keeping an up-to-date knowledge of the emissions market at large.
• Managing price risk exposure and contract negotiations.
• Managing a team of Junior Traders and Traders.

KEY RESPONSIBILITY AREAS:

The main duties and responsibilities of the job holder are:

• Set up the trading books for emissions (flow, hedging, prop);
• Support the setting up of the internal emissions market (liaising closely with all Business Units);
• Support different Business Units within the group in development of projects in primary market and look for opportunities independently from the Business Unit;
• Liaise closely with other relevant commodity desks;
• Develop and maintain relationships with trading houses and other counterparties;
• Provide management with suggestions & proposals for new marketing strategies and contribute to the decision making process.
• Work closely with IT department to develop the front office tool.
• Mentor and coaching junior traders.

YOU WILL HAVE:-

• Strong academic credentials with a Math/ Statistics oriented specialization. Degree from a leading university and PhD, MS in Mathematics, Statistics, Physics, Economics, Econometrics, Finance or Computer Science will be beneficial.
• Extensive experience in European power, gas and carbon markets, gained in a similar role within an energy trading company
• Detailed understanding of the fundamental drivers of the European power, gas and carbon markets.
• Experience in leading development & implementation of trading strategies and tactics with accountability for delivery against annual profit target.
• Knowledge of typical risk management methodologies e.g. VaR and stress testing analysis.
• Knowledge and understanding of all relevant regulations impacting the carbon markets.
• Familiarity with the primary markets certificates
• Excellent interpersonal and communication skills.
• Strong presentation skills and ability to present information in a clear and concise manner.
• Strong negotiation and influencing skills
• Proactive approach to problem solving and ability to identify and set priority actions and handle a high workload.
• Result oriented approach and proven ability to work under pressure and to tight deadlines.
• Strong financial awareness.
• Strong team working skills and ability to build and nurture effective relationships internally and externally.
• Good knowledge of Microsoft Office suite.

The overall expectation for this position is to ensure delivery of embedded and sustainable internal control environment and culture as an integral member of the London Trading Internal Control Team.

Integrated Supply & Trading

Job description

The role reports to the GO-E Internal Control Manager and the team is responsible for the following activities:

• Assist CET process owners with Control Evaluation Template (CET) updates when significant changes occur.

• Providing practical advice to assist CET owners relating to Financial gap tracking, reporting and remediation.

• Maintain the DoA (Delegations of Authority) website, to ensure that it represents the current organisation structure and delegates authorities.

• Ensure all EUC ( End User Computing) spreadsheets are registered and all alerts are approved within the required deadlines.

• Liaise with both Internal and External auditors, as well as with Group Internal Control.

• Application Security Review – to ensure all systems access is appropriate and approved, and ensure that all segregation of duties violations are remediated.

• Support the Internal Control manager during the quarterly Due Diligence reporting process, including leading the quarterly PGA ( Post Gait Adjustment) review, arranging and take minutes of meetings, produce a slide pack for senior management and ensuring all actions are followed up.

• Balance Sheet Integrity (BSI) reporting.

In addition to the key tasks listed above, the team also on a adhoc basis complete the following tasks:

• Deliver control and process improvement initiatives, as directed.

• Ensure there is a controlled environment, during periods of change.

• Provide support to significant change initiatives (e.g. TCT (Trade Control Transformation) and the management of systems access, to ensure that controls are well designed and operating effectively.

• Identify further opportunities for process standardisation, simplification and improvement.

• Currently studying for an Accounting qualification.

Experience:

It is desirable for the successful candidate to have experience in some of the following areas:

• Previous financial,audit or control experience.

• Designed and maintained business processes in a changing environment.

• Dealt with detailed and complex topics and has the ability to grasp concepts quickly.

Desirable technical skills and experience:

• Strong financial and analytical skills.

• Understanding of Sarbanes-Oxley and internal controls.

• Experience of Financial Controls, process analysis and assessment of risk within complex financial processes.

• Ability to listen, synthesise and document information.

• Aptitude to search out relevant documentation, assemble and present concisely.

• Ability to develop practical business solutions.

Non-Technical skills and experience:

• A track record of high quality, on-time delivery with good networking and interpersonal skills.

• Well organized and strong time management and administrative skills.

• Attention to detail and rigorous in approach.

• Self-starter, ability to act independently, know when to ask for advice.

• Able to work on one’s own initiative and have a pragmatic approach to process control issues.

• Ability to influence people.

• Good written communication skills.

Objective is to implement and execute a standardised reporting process across all divisions (and trading departments) to enable the Group CIO (and his direct reports) to manage and control the Group IT budget.

Key Responsibilities

• Drive the annual budgeting process for Group IT together with the Group CIO

• Prepare monthly variance reporting actual vs budget

• Prepare periodic forecast (until year-end at the moment, will become rolling in near future)

• Monitor the timely receipt, capturing and payment of IT related invoices

• Ensure accruals are determined and booked at month-end

• Ensure Group CAPEX vs OPEX guidelines are properly applied for IT related invoices

• Further improvement and maintenance of the internal control system, including documentation of key controls

The successful candidate will have strong Analytical skills as well as high levels of Business Acumen with previous Supply Chain experience, being able to understand the whole end-to-end process.

Responsibilities:

• Commercial focused analysis of significant business opportunities, including assessment of alternatives, risks and market impact.
• Leading / supporting projects to maximize value throughout the supply chain from refinery to end customer.
• Involved in the development of strategy and forward market views.
• Develop complex financial models, aligned to their global methodologies to support product sourcing and sales opportunities through all market channels.
• Performance monitoring of existing sales channels and identifying market trends and opportunities.
• Provide market intelligence updates to support decision making.

Qualifications / Skills:

• Degree level within relevant discipline
• Minimum 5 years experience of economic supply chain analysis
• Excellent technical analytical capability
• Experience of commercial negotiation preferred
• Proven ability to identify commercial opportunities
• Ability to develop and mentor others in analytical capabilities

Main Job Function:

The trade control team will provide daily performance and control analysis of the trading business and will work very closely with the traders and the other parts of the trading business.  This is a pivotal team in this dynamic business and experience of this area could lead to a range of interesting and challenging career options in the trading and shipping business. 

The team provides real-time front-line control and management information for management, vessel charters and traders. This includes daily profit and loss measurement, trading exposure reporting, and risk reporting. Because of the unique position of the team in the middle of the commercial activities, the team will also support broader commercial activities. 

 Key Responsibility Areas:

• Manage performance feedback of junior staff together with the Trade Control Manager
• Supervise procedural compliance; identify and document process opportunities
• Report timely and accurate daily market exposure and profit and loss for a trading book and ensuring consistency with accounting ledgers; analyse and investigate results obtained from the underlying data
• Provide routine analyses of book performance to the vessel charters and traders
• Use knowledge of the book’s activities to understand and explain commercial activities and strategies
• Spot and remedy any problems with relevant data (transaction, market or reference data)
• Monitor vessel charters and traders’ adherence against their delegated authority
• Guarantee compliance for trading procedures with relevant controls
• Contribute to new business initiatives, systems or process improvement projects
• Train other teams and share expertise
• Maintain a good knowledge of market conditions through the use of provided tools
• Maintain good relations with vessel charters and traders and other parts of the business

You will have:

• Relevant experience within a Trade Control / Product Control environment in an oil trading company
• Experience in heavy and middle distillates;
• Knowledge of control processes applicable in a trading / regulated environment;
• Knowledge of financial hedging on Oil & Products;
• Commodity trading business experience; Vessel chartering, shipping or bulk commodity movement
• Familiarity with asset commercial performance measurement concepts
• Knowledge of vessel chartering or trading in physical oil; Robust interpersonal communication skills
• Ability to work within a team and meet strict deadlines; Ability to display attention to detail at all times