This position reports to the Corporate Accounting Manager. The role interacts closely with other teams in Finance (Reporting, Trading Control/ Accounting) and other departments (notably Legal, Middle Office, Traders and Trading management) as well as with senior management, external auditors, Branch and Group Consolidation department.
The job holder will form the vital bridge between the Trading desks and the Finance team to ensure that new business/contract are reviewed with a Finance focus.
Responsible for front line commercial discussions with the trading desks prior to deals being signed.
Maintain a strong following of the latest business activity and ensure that the trading floor and senior management understand the financial, accounting and tax implications of new business/contracts, in particular providing assistance when drafting new contracts, building new activities, entering into new contracts and dealing with new products while liaising with the appropriate expertise within the Finance teams of the company, branch and the Group.
Keep up to date with developments in accounting standards and invest time understanding and interpreting requirements specific to trading, and developing and reaching consensus with external auditors on said interpretations.
Ensure that the Finance team maintains a strong ability to understand and analyse business activities and accounting standard developments mentioned above.
Assist the quarterly consolidation and annual statutory accounting process, in particular by overseeing with regard to recognition of the company’s long term off balance sheets commitments, IFRS 7 derivative disclosures and all aspects surrounding the LNG MTM accounting policy.
Build a strong understanding of the entire portfolio including long term and short term contracts entered into by the Trading desks.
Challenge the Finance teams’ analysis of the contracts committed by reviewing the contracts summaries produced by the Trading Control team, and the commentary and analysis of results produced each month.
Use understanding obtained from strong position between trading operations and Finance to sense-check the trading gross-margin and associated Financial Statements produced between Trading Control and Corporate Accounting, helping to ensure reported Financial Statements are accurate and complete.
Use understanding gained from analysing the new business and future contracts to assist the budget and planning team in the reporting provided to group .
Maintain the LNG Fair Value model. Ensure a full understanding and correct application of the latest accounting principles in relation to fair value accounting. Ensuring one can answer questions raised on this topic to management and auditors as required.
About us / company profile
Give your best to better energy and make the commitment with Total. With over 500-plus professions in 130 countries, we offer high safety and environmental standards, strong ethical values, an innovation culture and wide-ranging career development. Be part of the global team whose mission is already shared by 100,000 employees: to make energy better each and every day.
The global activities of the Gas & Power Branch of Total SA, and its affiliates, subsidiaries and associated companies (“Total Gas & Power”, "Group" or "Total Group") include the marketing and trading of natural gas, liquefied natural gas ("LNG") and power, the trading of liquefied petroleum gas ("LPG"), natural gas transportation and storage, as well as LNG re-gasification and the production and sale of coal and petcoke.
Total Gas & Power’s trading teams are responsible for optimising the purchase/sales portfolios of gas, electricity, coal and LPG via transactions (arbitrage, balancing and hedging) in all recognised markets, in compliance with Group trading guidelines.
10 years + experience in an Operational Trading and/or Trading Finance function
Numerate graduate, holding a top qualification
Good knowledge of Trading concepts
Good knowledge of Accounting Standards with regard to physical and financial commodity trading, in particular Gas and LNG
Strong interpersonal skills and confidence when liaising with traders, senior managements, and external auditors
General Finance Responsibility, Cost Control & Reporting, Accounting, Cash & Financing Management
Contract and Financial Development Controller
Gas Renewables And Power
Experience level required
10 - 15 years
Affiliate (if known)
TOTAL GAS & POWER LTD
Context and environment
The complex and fast-changing environment of commodities trading implies that support functions such as Finance develop and maintain a good understanding of the business in order to properly exercise their control functions and support business development.
The role also operates within a complex and changing network of financial and market laws and regulations that must be understood.
Due to the size and complexity of Trading & Marketing activities, the Contract and Financial Development Controller needs to build good relationships at various levels of the and with a range of stakeholders (senior management, finance, traders, middle and back officers, tax experts, lawyers, auditors, etc.). The job holder must be able to work autonomously and be comfortable structuring their own role and day to day activities. A strong drive to develop the financial development area is key to success.
Responsible for maintaining thecompany’s long term off balance sheets commitments, IFRS 7 derivative disclosures and all aspects surrounding the LNG MTM accounting policy.