The Role
Prepare monthly trading margin results and reconciliations for oil, refined products, petrochemicals and biofuels under IFRS. Reconcile Risk P&L and Accounting P&L, manage ledger/exchange reconciliations, support audits and statutory reporting, lead month-end processes, automate reporting, and perform ad hoc financial analysis.
Summary Generated by Built In
The Finance Analyst will play a key role in the day to day financial operations of the business. This is a 12-month fixed-term position, based in our London office.
Key Responsibilities
- Prepare the monthly trading margin result for the Crude Oil, Refined Products, Petrochemicals and Biofuels businesses in accordance with IFRS 9, IFRS 13, IFRS 15 and IAS2.
- Work closely with Product Control team and Front Office Operations to identify and explain the breaks between the Risk P&L (MI) and Accounting P&L (MA) and make accounting judgements on whether they meet the accounting standard to be included in the Accounting P&L.
- Work closely with Settlements team to ensure accurate and timely posting of primary invoices and secondary cost invoices in SAP and to reconcile MI/MA differences.
- Prepare the monthly broker exchange reconciliations for the Petroineos Trading Limited entity and liaise with Derivative operations team to explain differences between ledger balance and exchange balance.
- Prepare and present the monthly balance sheet reconciliations for the Petroineos Trading Limited entity and follow up with relevant teams on outstanding actions.
- Provide support on all aspects of the company’s external year-end audit and interim audit.
- Take the lead on the preparation of Petroineos Trading Limited annual statutory report and statutory audit.
- Participate in IT projects to automate the month-end reporting processes.
- Perform other analysis, ad hoc projects and duties as needed.
Skills, Knowledge & Expertise
- Degree in Accounting/Finance or equivalent
- Qualified CIMA/ACCA/ACA or equivalent
- Strong trading accounting skills (at least 3 years)
- Experience in Oil & Gas Industry
- Experience of accounting for trading activities within Oil & Gas Industry
- Proficient in SAP skills, Microsoft Office Excel (prepare complex formulas and use of macros). Use and knowledge of Power BI would be highly desirable
- Knowledge of ETRM systems would be highly desirable, particularly Endur, EOS, Pioneer and Symphony
- Strong analytical skills, ability to multitask and prioritize workload
- Good interpersonal and communication skills
- Energetic, enthusiastic, positive and proactive
- Mandarin speaking is desirable
- Due to Month-End deadlines, the employee may be required to work extended hours during the first week of each month.
Job Benefits
This role offers a competitive salary (commensurate with experience), plus a comprehensive benefits package, including Private Medical, Dental and Travel Insurance cover, Life Assurance, Annual Gym Allowance, Contributory Pension Scheme, 25 days annual leave, Discretionary Bonus, and more. This is a full-time position, with the successful candidate being required to attend the London office 4 days per week.
About
Petroineos Trading Limited comprises trading and refining joint ventures between PetroChina International (London) Company Limited and INEOS. Established in 2011, Petroineos is one of Europe’s leading International Integrated Energy Trading Companies. Our highly experienced teams trade a comprehensive range of energy products, supported by a network of professional teams across the globe, enabling our customers to benefit from our ability to leverage our shareholders’ global network. Trading is carried out by three divisions: Crude, Refined Products, and Low Carbon Solutions.To discover more about the company, click here.
Skills Required
- Degree in Accounting or Finance or equivalent
- Qualified CIMA, ACCA, ACA or equivalent
- Strong trading accounting skills (at least 3 years)
- Experience in Oil & Gas industry
- Experience accounting for trading activities within Oil & Gas
- Proficient in SAP
- Advanced Microsoft Excel skills (complex formulas and macros)
- Knowledge of IFRS standards (IFRS 9, 13, 15) and IAS 2
- Power BI experience
- Knowledge of ETRM systems (Endur, EOS, Pioneer, Symphony)
- Strong analytical skills and ability to prioritize workload
- Good interpersonal and communication skills
- Energetic, enthusiastic, positive and proactive attitude
- Mandarin speaking
- Willingness to work extended hours around month-end deadlines
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The Company
What We Do
Petroineos is a joint venture between PetroChina International London and INEOS Group, established in 2011. It operates as an integrated refining and energy trading company, processing crude oil and trading a comprehensive range of energy products globally. The company focuses on quality, safety, and sustainability, with key assets including refineries and distribution terminals that support its trading and refining activities across European and African markets.
