Product Controller (Trade Accountant)



Risk


London


Permanent

Supporting GM&T’s continued growth in commodity and derivatives trading, GM&T’s Risk function is looking for a highly motivated, analytically minded individual to join its cross-commodity Product Control team. GM&T’s Product Control team is responsible for comprehensive daily P&L and exposure reporting, as well as month end gross margin substantiation and reporting from GM&T’s SAP system of record. To support the team with calculation and preparation of trading gross margins, from energy trading risk management systems to the general ledger in SAP, a trade accountant is sought with demonstrable, hands-on experience of transactional level reconciliation work, specifically within a trading environment

About us

GAZPROM Germania GmbH is a subsidiary of the world’s largest natural gas producer, Gazprom. Since its establishment in 1990, GAZPROM Germania has developed into an internationally operating group of 44 companies in 15 countries in Europe and Asia. Its main business activities include the storage and trading of natural gas. It employs approximately 1,800 employees, around 200 of whom work at its Berlin headquarters. Together with its strategic partners, GAZPROM Germania Group helps ensure a reliable, environmentally-friendly, and sustainable energy supply for Europe. Gazprom Marketing & Trading (GM&T) is an integral part of the GAZPROM Germania Group. Headquartered in London, GM&T operates to provide a global marketing reach, round the clock operational coverage and excellent customer service. Established in 1999, GM&T has grown from a single office in London into a truly global organisation, with around 1000 employees worldwide. With offices in Europe, Asia and the USA, GM&T trades energy commodities including gas, power, oil, LPG, helium, emissions, LNG and FX. Our culture is defined by our people. Through living our values every day we continue to create a culture that enables us all to succeed. We work as one team with our customers, our parent company and each other in order to understand each other’s needs. With an unstoppable passion for excellence, growth and learning, we’re committed to creating an environment that fosters the development of knowledge, skills and experience, so that our people can thrive and prosper in their careers with us. We believe that we have the best team in the industry which makes us a trusted partner across international capital and energy markets. Our diverse employee base, with a wealth of expertise, knowledge and experience makes GM&T a truly exciting place to work. We encourage new ideas and initiatives as innovative thinking is central to how we do business. Most importantly, we are a growing and developing business where inspired individuals can make a difference and help shape our future.

Role objectives

Supporting GM&T’s continued growth in commodity and derivatives trading, GM&T’s Risk function is looking for a highly motivated, analytically minded individual to join its cross-commodity Product Control team. GM&T’s Product Control team is responsible for comprehensive daily P&L and exposure reporting, as well as month end gross margin substantiation and reporting from GM&T’s SAP system of record. To support the team with calculation and preparation of trading gross margins, from energy trading risk management systems to the general ledger in SAP, a trade accountant is sought with demonstrable, hands-on experience of transactional level reconciliation work, specifically within a trading environment

Duties & Responsibilities

• Support the preparation of GM&T’s Gross Margin in SAP, reconciling transactional data from Energy Trading Risk Management systems, associated valuation models as well as any other necessary manual or offline postings. Focus will be on the Physical LNG Trading and Shipping Business Units, as well as any associated derivative hedging (inc. Financial LNG, Oil, Gas and FX forwards, exchange cleared swaps and futures, and financially settled options).
• Identify and resolve any breaks in preparing the above, both ensuring immediate resolution within any monthly close (e.g. via preparation of appropriate reversing journals into SAP), as well as owning and leading more strategic initiatives to address the data or process issue at source.
• Support the preparation of GM&T’s derivative balance sheet, ensuring both vanilla and complex valuation approaches are reflected correctly and presented accurately in the company’s accounts.
• Outside of the monthly close process, support continuous improvement in the Product Control team’s processes, by:
• Proactively identifying new control steps that can be added to the middle office role, whilst also looking for ways to optimise those already in place, including system and spreadsheet based reporting, calculation and reconciliation tools.
• Work with GM&T’s IT department to specify and drive system change to bring further automation and control to the monthly reconciliation processes, resolve recurring breaks, as well as establishing new analysis tools and approaches for investigating exceptions
•    Work with GM&T’s Invoicing & Settlements, Group Accounting and Accounting Operations teams to establish or improve those processes and control points which have an impact on, or are dependent upon, the above reconciliations.

Skills & Competencies

• Strong analytical skills; hands on approach to investigating and resolving issues, in a high transaction level environment.
• Understanding of a physical trading environment, and associated trade lifecycle is a necessity. Commodities experience in this preferred.
•      Sound accounting knowledge (balance sheet structure, core accounting principles including derivative fair value/mark-to-market calculation and basics of presentation). Understanding of IFRS 9 and IFRS 32 is also desirable
• Strong MS Excel experience; explicitly the use and manipulation of pivot tables on often large amounts of transactional level data.
• Able to work effectively in a fast moving, changing environment
• Highly motivated and proactive individual and team player
• Communication and influencing skills

Experience

• Experience in a commodity trading environment, with physical commodities preferred.
• SAP ECC experience, including common transactions that may be used in the reconciliation processes set out above.
•    Experience of working with interfaces between Energy Trading Risk Management systems and SAP, including GL mapping and other challenges that may be faced is preferred

Education

• Fully or part qualified Accountant (CIMA/ACCA/ACA or equivalent)
•    Degree level education, preferably in a numerate discipline
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