Product controller (Oil)
Posted on Aug 31, 2021 by MSys UK Ltd
We are looking for a Product Controller for our client who is an Oil trading company, based in London.
Preparation of daily P&L, coupled with position (financial exposure reporting), with current focus on oil products trading
Ensuring all daily P&L and position movements are understood and documented, attributing daily P&L change to new deals, movements in market curves and basis spreads, coupled with volumetric, delivery date and other deal life cycle updates
Developing an understanding of each desk's profit and loss across the month, as well as the strategies, contracts and derivatives traded to achieve it
Ensuring a strong and efficient control environment in cooperation with our local offices in Singapore, London and Houston to minimise operational risk globally
Support the month-end financial close process, substantiation of P&L in the SAP system off record, reconciling book and transaction classes to daily P&L based on expectations
Working closely and effectively with the Front Office, local Product Control, Risk Functions, Finance and IT, especially on new commercial capability projects, ensuring new products, derivatives and contract structures can be successfully integrated into the Product Control daily reporting function
Administrative work in various electronic trading systems (ETRMs).
Completed studies in the field of business administration/economics/mathematics or computer science with relevant focus (or comparable education and training)
Professional experience in a comparable position, preferably in the physical international oil trading business and or derivatives trading (in the areas of front, middle or Back Office/financial reporting, or as a business/process analyst)
Experience in market-to-market (fair valued) calculation of derivatives as well as physical cargo transactions is highly desirable, including an understanding of key contract terms and their impact on valuation (eg, pricing and settlement/delivery terms)
Previous experience of IFRS valuation principles (eg IFRS9/IAS39) and MTM accounting is preferable, but not essential
Experience of Microsoft Excel to an advanced level is a necessity
Exceptionally good knowledge of English, both written and spoken. Knowledge of German is an advantage
Strong analytical skills (eg ability to understand impact of market changes on P&Ls, as well as economic events in the life cycle of a deal)
Ability to work independently and responsibly coupled with a hands-on mentality and a pro-active approach to work
Ability to work effectively in a fast-paced, changing environment
High level of team orientation and a good grasp of the issues at hand
Ability to work and prioritize under pressure
Please send your latest CV/Resume incl. salary expectations and earliest possible starting date.