ACCOUNTABILITIES & RESPONSIBILITIES
Crude, Product & Freight deals evaluation, compliance and documentation
· Evaluate Crude, Product & Freight deals and ensure sign off from the authorised signatories, maintain the records
· Verify the tenders floated, deal rationale prepared by the trader and the deals entered in the trade capturing system
· Ensure process compliance & maintain documents for entire deal life cycle
Execution of Prepayment and Structured Trade Finance deals
· Evaluation of prepayment and other structured / bilateral deals and seek approvals as per the DOA.
· Work in close coordination with trading desk and finance for execution of required documentation for the deal.
· Performing evaluation / variance (retro) analysis for active pre-finance deals on monthly basis.
Management of Accounts Receivables / Payables & Working Capital Limits
· Prepare computation of pricing of commodities traded as per contract
· Managing Letter of Credit from/to customers
· Monitoring of credit exposure for all counterparties
· Plan & monitor Letter of Credit limits and utilisation in co-ordination with Finance to ensure optimum utilisation of working capital limits
· Negotiate credit and LC terms & conditions to minimise cost incidence
Handling of secondary costs pertaining to Trading operations
· Verification, reconciliation and processing of expenses related to deals such as freight, charter hire, demurrage, port dues and other expenses
· Verification of time charter vessel performance evaluation
Demurrage Payables and receivables
· Review demurrage calculations provided by operations desk, monitor and ensure timely payment to minimize the cost
· Verify the demurrage claims raised on suppliers import shipments
· Monitor and ensure sign-off / approvals of authorised signatories as per SOP/ DOA
Monitoring and Compliance of Risk Management Controls
· Ensure adherence to the Risk Management policies
· Familiarize with industry compliance standards and regulations e.g. Dodd-Frank Act, MiFID II etc.
· Ensure compliance for Risk Management related activities including monitoring and adherence to mandates and strategies and communicate any deviation / non-compliance to Management
· Preparation of MTM and other MIS reports, computation and negotiation of collateral and margin call, deal validation
Financial Concurrence and Review of Contracts
· Review and scrutinise various payment advices to check the accuracy and ensure the same is approved as per DOA
· Review the financial clauses of Trading related contract and provide comments to trading team
Accounting, Reporting, Audit & Control Related activities
· Provide information relating to demurrage claims, Trading related service expenses, vessel charter expenses and other information to accounting team for monthly accounts closing
· To provide information and documents to auditors and clarification to their queries for quarterly and annual audits
· Compilation and control of annual budget of Company based on the data received from all desks
· Maintain records of all services and contracts related to Trading activities and coordinate with Finance team for processing and payment of invoices
· Ensure compliance with functional SOPs / DOA and regulatory compliance and ensure no negative qualification from Auditors
Other Responsibilities
· Preparation of various MIS / data / reports as required by the internal / external stakeholders e.g. Import reports, payment realization, sensitivity analysis / stress testing, physical vs. paper gain / loss, etc.
· Preparation of notes / workflows / presentations as required by the Management
· Coordinate with various internal / cross functional teams for information sharing and smooth conduct of day-to-day business and timely completion of deal related activities
KEY DECISIONS
A. Made by Jobholder:
· Plan the individual task so as to deliver the results with accuracy and within timelines
· Prioritise the deliverables and specialise in multi-tasking to ensure that there are no slippages and deadlines are consistently met
B. Recommendations to superior:
· Report any deviation to DOA and SOPs
· Highlight any challenges faced that may need supervisor’s intervention
DIMENSIONS
Financial Dimensions:
· Aim at cost control and saving while supporting the business requirements
· Timelines and number of reports as well as areas covered are more important and are the critical measures along with the quality of work performed.
QUALIFICATIONS AND EXPERIENCE
A. Educational Qualifications & Certifications:
· Graduate in Engineering and Post graduate with relevant experience (MBA Finance or Chartered Accountant preferable)
B. Relevant (Functional/Level) & Total Years of Experience:
· 8 to 10 years
C. Functional Skills:
· Background from Oil & Gas industry
· Good grasp of accounting and commercial processes & issues
· Excellent working knowledge and experience in Excel, PowerPoint and Word
· Good understanding of Accounting & Financial Reporting Standards (IFRS / SFRS)
· Strong background in the areas of SOPs, control framework, regulatory compliance
D. Behavioural Skills:
· Professional integrity and confidentiality, team player
· Strong analytical & negotiation skills and eye for detail
· Self-motivated and initiative taking, can take ownership and deliver with less supervision
· Conflict management and problem solving with solution oriented approach within the regulatory and control framework
