Manager - Trading Accounting

3 weeks ago

London, United Kingdom Cedar Full time
We are currently working exclusively with an international FMCG & commodities group that are seeking to hire a Manager Trading Accounting to manage reporting for the European trading desk, ensuring timely and accurate reporting of all activities including consolidation into the wider European Results.
Delivering regular reporting requirements, ensuring compliance with Group accounting policies whilst improving / maintaining internal controls.
This position requires an intimate understanding of financial instruments, mark-to-market accounting concepts and the overall business to produce valuable commentary / insight and to be able to challenge the reported results.
POSITION STRATEGIC OBJECTIVES AND KEY DELIVERABLES
Timely production of reports for trading and procurement
Production of daily P&L for the open and closed positions
Liaising with Treasury and Financial Reporting function to ensure timely input into cashflow forecast
Timely production of month end numbers and results
Profit & Loss impacts are fully explained to management and wider stakeholders
Rolling quarterly forecast and annual budgeting
DETAILED ROLES & RESPONSIBILITIES
Timely and accurate production of the daily PL report and trading position including insightful commentary explaining the results to traders and management.
Month end accounting including responsibility for the submission and consolidation of the trading results into the European group reporting pack along with detailed commentary on the trading performance for senior management.
Preparation of Quarterly, Annual Board slides illuminating and comparing performance of the business against prior years and budgets
Ownership of the trading entity accounting and audits including the preparation and submission of year-end derivatives footnotes within the statutory accounts
Reconciliation of all balance sheet accounts at month end including highlighting large movements impacting cash flow statement
Analysis of the Foreign Exchange exposure and understanding the FX results
Review of all mark to market valuations including internal marks for non-quoted markets
Setting annual transfer price between trading entity and European refineries (internal sales price)
Drive planning, budgeting, forecasting and production of appropriate performance measures.
Help the traders understand their responsibilities in maintaining a visible control over their business.
Ensure and monitor compliance with accounting Standards including IFRS 9.
Supporting the risk department by ensuring traders understand their responsibilities in maintaining a visible control over the business
Ensure all trades captured promptly and accurately on the trade date
ESSENTIAL CAPABILITIES (KNOWLEDGE, SKILLS, ABILITIES AND PERSONAL ATTRIBUTES)
Strong understanding of trading practices
Excellent understanding of position risks and hedge tools such as derivative financial instruments
Computer literate with good systems knowledge of SAP, ITAS and Microsoft Office
Ability to work under pressure to meet strict deadlines
Have experience of world market commodity trading including FX, Futures and Options.
Experience in SAP and BI or equivalent data warehousing and reporting tools.
Have advanced Excel modelling skills and the ability to adapt models for users with less advanced Excel skills.
ESSENTIAL EDUCATION REQUIREMENTS
Bachelor's degree
Be a qualified accountant (CIMA/ACCA/ACA)

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