An international Commodity business is looking for a Contract and Operations Manager to lead their growing settlement team. The Settlement team manages the reconciliation, confirmation and settlement of LNG trades within the organization.
Working with the Operation team and traders, you will help to ensure that risk is captured accurately, and the full lifecycle of the trade is supported effectively.
Key Responsibilities
Lead the team which takes responsibility for operation activities relating to LNG trading (spot, short term and mid term), including both physical LNG and derivatives transaction.
Physical deals
- Ensuring timely settlement and invoicing process for all Physical LNG (short-term & mid-term)
- Liaising with Trading/Operation/Risk/Credit/Accounts team to resolve queries and discrepancies
- Monitoring and updating settlements systems and cash flow reporting
- Review and confirm payment terms, letter of credit in confirmation notice and Sales and Purchase Agreement (SPA)
- Verify and confirm contract price calculation, Letter of Credit application and workability
- Liaison with various teams within the organization from Risk Management, Legal, IT, Finance, Accounts and Credit teams to ensure integrity of data within the trading system to accurate reporting within defined timescales
- Record and analyze Gross Profit related to Short/Mid-term transaction
- Ensuring all processes and procedures are constantly reviewed, documented, and updated
- Escalate and communicate any contract compliance discrepancies, logistics and other risk areas to the Superiors
Derivatives
- Ensuring timely settlement and invoicing process for all derivatives trades
- Responsible for preparation for all required documents to apply hedge accounting
- Handle margin money and interest calculation related to derivatives transaction
- Handle and support all OTC and FCM related matters
Leading the team
- Act as a mentor to develop other team members' skills and knowledge
- Establish excellent working relationship and providing quality service, to both internal business partners and external global counterparties
Key Requirements
- Minimum 8 years' experience in dealing with international trade
- Accounting knowledge and good with handling figures
- Attention to detail and ability to meet tight deadlines
- Strong negotiation, communication, and interpersonal skills
- Ability to work in a fast-paced trading / financial environment
- Ability to work efficiently in a team and individually
- Ability to work effectively cross-functionally with all areas of the business
- Dedication to review and improvement of existing processes
- Good knowledge in letter of credit, UCP rules & ISBP, Incoterms, and contract execution concept.
- Proficient in MS Office, oral and written English
