Job Reference Number:
Settlements Analyst - Oil
Mid Office & Finance
Settlements Analyst - Oil required, London based. Reporting to the Settlements Manager.
DUTIES AND RESPONSIBILITIES
- To handle physical oil trade settlements in a timely and accurate manner, including contract terms review, due date control and raising payment and invoices in both ETRM system and SAP, which requires:
- Reviewing the trade contracts and service agreements for settlement purposes
- Checking purchases and sales orders in SAP through the Control Panel
- Price confirmation with counterparties and billing/invoicing of sales both provisional and final invoices
- To ensure incoming & outgoing funds receipt or payment shall value on time, if any delay in payment, interest shall be applied as per contract , AR ageing follow-up
- Process secondary costs includes additional cost such as freight, insurance, inspections, demurrages.
- Understand the trading incoterms and can do the manual pricing calculation
- To supply weekly cash forecasting for Treasury
- To liaise with traders and operators to resolve disputes and ensure accurate and timely payments
- To carry out with the procedure/process implemented in ETRM, Control Panel, SAP and other network system
- To provide trading performance analysis information
- To assist month-end reconciliation.
SKILLS AND COMPETENCIES
- Good understanding of physical oil trading and logistic
- Settlement experience and LC Knowledge
- Excellent team working and networking skills
- Possess good interpersonal and communication skills
- Energetic, enthusiastic, positive and proactive
- Proficient in Microsoft Office and trading/accounting system.
- Minimum 3 years relevant experience.
- Finance, Accounts or equivalent.
- Degree in Finance/Banking/Commercial/Maritime Studies or equivalent.
Oil Recruitment is working as an agent on behalf of a client for this role. We have been working with some of the world's leading banks, trading companies, major oil companies and utilities within the energy trading arena since 1998. We work on roles in trading, broking, risk, credit, quantitative analysis, consultancy, shipping, chartering, operations and contract analysis across the upstream and downstream energy markets in crude, oil products, gas, power and carbon. All vacancies and information on our business are at www.oilrecruitment.co.uk