This company is a MNC in the business of oil trading.
Responsibilities:
- Be the main regional Accounting contact for the Far East trading entities for the Oil business. The role involves investigative and process improving work as well as the submission of monthly reporting packs, together with commentary on the contents and movements of the balance sheet to London. Work closely with the Front/Mid Office in a fast moving business where inherent risk has to be mitigated by implementing imaginative and effective controls.
- Day to day supervision and mentoring of part/newly qualified Management Accountant, who supports the overall financial reporting requirements by preparing the Trial Balance to review stage.
- Become the key point of contact in Accounting for the trading desks related to your ledgers. Work closely with the business to understand the transactions they are undertaking and ensure these are recorded appropriately in both the trading systems and accounting ledgers.
- Understanding and interpretation of the front office systems and how the mark to market information relates to stock on the balance sheet. Also ensure proper valuation of stock.
- Review profit and accrual numbers and challenge the business as to the appropriateness of aged accruals and provisions.
- Review reclassification journals prepared by the Management Accountant at period ends. Train and supervise Management Accountants to assist with these entries. Cover the work of the MA during absence.
- As and when issues arise with systems, quality of information provided by other departments etc., follow up with Front/Mid Office to facilitate change and ultimately ensure the Accounts are true and accurate.
- Statutory and audit work required:
- Prepare audit documentation and liaise with external auditors.
- Ensure compliance with Hedge Accounting rules under IFRS by performing monthly hedge effectiveness tests and drawing conclusions basis the information supplied by the Front Office.
- Be responsible for the conversion of the statutory accounts from Dutch GAAP to IFRS and the subsequent liaising with the auditors in both the Netherlands and Singapore to perform the required audit work and provide all requested documentation. This particularly involves Fair Value Accounting and ensuring all forward derivatives and physical contracts are valued appropriately.
- Responsibility for reporting of the Chinese oil business under Dutch GAAP. This is a new business and will require some assistance with developing processes to integrate into the wider Accounting function. Also, liaising with the Accounting team in Shanghai will be required to ensure local Chinese requirements are fulfilled.
- Understanding of the quarterly Derivative disclosure requirements under IAS32 and IAS39 and liaising with the Derivative Accountant in ensuring your ledgers comply with all relevant local Accounting rules.
- Supervise the submission of monthly results via Hyperion reporting to Group Accounting.
- Prepare the Monthly Singapore Management Pack to be submitted to London Oil Accounting.
- Prepare a monthly commentary to management based on the content and significant movements on the balance sheet and present this as part of a monthly ledger review.
- Assess and evidence financial controls and persuade management and colleagues in Front/Mid Office teams to adopt possibly unpopular solutions.
Requirements:
- Qualified accountant with minimum 5 years Accounting experience
- Intermediate/advanced Excel skills and a willingness to use technology to complete/improve daily tasks.
- Sun Accounts Experience or equivalent
- Derivatives accounting
- Business Objects reporting or equivalent
If you would like to apply for this role or find out more, please apply online or contact Liu Yiling at Robert Walters on 6228 5337 or commerce@robertwalters.com.sg quoting the Job Reference LIY-357450.