Company Description
Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. From 40 offices worldwide, we seek to add value across the energy supply chain, including deploying our scale and market understanding to help facilitate the energy transition. To date, we have committed over $2 billion of capital to renewable projects, and are identifying and developing low-carbon opportunities around the world.
Job Description
The Derivative Accountant will join the Paper Ops team and be responsible for reconciling, validating and processing Vitol’s financial trading activity. The primary role is to mitigate risk surrounding Vitol’s cleared financial trading activity. This entails reconciling exchange traded financial activity to clearing statements, working with Treasury to forecast and settle margin activity, and understanding settlement procedures for financial markets. In this role you will work closely with the Accounting Department in performing monthly duties such as cost control and budget review and booking relevant journal entries. In addition, you will work closely with the commercial team to support them in trade reconciliation on a daily basis. This role is performing critical daily and monthly controls. Thus, it’s imperative the candidate recognizes this risk and exhibits strong analytical skills and possesses attention to detail to perform the duties as expected.
Specific job duties will include:
- Confirming margins daily with FCMs, including using forecasting tools to calculate Variation Margin and monitoring IM requirements
- Reconciling Vitol’s cleared paper trades daily to our FCM clearing statements
- Reconciling NGX daily trades
- Managing trade and position reconciliation for all Securities, Equities and Bonds
- Reporting and escalating discrepancies in financial trading activity timely with appropriate follow up
- Budgeting, monitoring and invoicing Clearing and Exchange Fees
- Invoicing all Futures, Swaps, and Options PNL and Premiums
- Processing financial settlements for bilateral financial trading activity
- Calculating Futures Accruals and booking monthly journal entries related to financial trading accruals
- Analyzing mark to market differences and reporting when necessary
- Overseeing the First Trading Day Control in Houston which triggers month end batch reporting
- Facilitating Market Access requests and new trader setups on exchanges
- Actively seeking process efficiencies and engaging with the team to action them
- Providing information for Compliance related requests
- Working actively with Treasury in forecasting large payments as they relate to financial positions that physically deliver
- Other duties as assigned
Qualifications
- Bachelor’s degree in Accounting, Finance, Business, or a related field
- 2 or more years of experience in financial trading reconciliation and analysis
- Experience in Accounting, Finance, or Auditing also desired
- Familiarity and experience with general accounting concepts and journal entries
- Attention to detail
- Organizational skills
- Strong communication skills, both internally within the team and externally
- Sense of ownership and responsibility
Additional Information
Successful candidates will:
- Be curious, creative and up for a challenge
- Be organized and deadline sensitive
- Have a genuine desire to build relationships across a global business
- Be comfortable undertaking new concepts and ideas associated with a fast-paced, dynamic business
- Have strong quantitative, analytical and critical thinking skills
- Continually assess, challenge and improve processes
- Have a strong sense of accountability and ownership of key deliverables
- Be an open communicator who is eager to share and receive information
- Earn the trust of others by continuously demonstrating the ability to follow-through
Work Environment
- This job operates in a professional office environment. Because of the collaborative, fast-paced, and high energy nature of our business, Vitol requires team members to work from our fully-equipped office
All your information will be kept confidential according to EEO guidelines.
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