Job description / Role
The role will be responsible for completing administrative tasks associated with trades such as settlements, invoice processing and position monitoring and clearing in line. The incumbent will also be expected to act as an independent source of back office expertise.
The client is a newly set up subsidiary of a large European Energy company with a focus on physical oil trading and processing business in UAE.
* Checking and validating trade entries and their accuracy in the trading system based on incoming trade confirmations from Counterparts and Brokers
* Generating trade recaps for physical purchase and sale deals in cooperation with FO
* Actualisation of deals by entering actual data in the system in an accurate and timely manner
* Raising sales invoices in accordance with agreed payment terms and price
* Review of supplier invoices and (first) release in SAP
* Coordinate with Bookkeepers to ensure timely release of payment, correct allocation of cash receipts to invoices, and maintenance of supplier and vendor master data
* Margining Calculations & reconciliations with the exchanges
* Maintenance of Reference Data of Solarc RightAngle
* Custodian of approved local procurement procedure and archiving procedure – ensuring that these are updated based on subsequent changes in the process
* Contract Management – ensuring that the register of contract is kept updated; copies of contract and invoices are archived; following up on due invoices
* Coordination with BNP, as required, especially for any new products, brokers and exchanges that needs to be set up in their system
* Proactively analysing and resolving trade data discrepancies with Front Office traders and Counterparts
* Work activities based on clear processes and controls within an international team
* Direct interfaces to several departments in all areas of the company
* Ensure compliance with Group’s Policies as well as the Group’s internal control system
* Liaise with Compliance, Legal, and prospective counterparts for counterparty approval process
* Support the establishment of the company functions, processes & policies, including other middle & back office functions (incl. Finance, Accounting, Risk, Settlement/invoicing, IT).
* Excellent exposure
* Well-reputed organisation