Location: London (Hybrid) Salary: Up to £90k + Bonus + Benefits Purpose of the Role
The Trading Accountant will manage reporting for the European trading desk, ensuring the timely and accurate reporting of all activities, including consolidation into the wider European results. The role involves delivering regular reporting requirements, ensuring compliance with Group accounting policies, and improving/maintaining internal controls. This position requires a deep understanding of financial instruments, mark-to-market accounting concepts, and the overall business to produce valuable commentary and insights and to challenge reported results effectively.
Position Strategic Objectives and Key Deliverables
- Timely production of reports for sugar trading and procurement.
- Production of daily P&L for open and closed positions.
- Liaising with Treasury and Financial Reporting functions to ensure timely input into cash flow forecasts.
- Timely production of month-end numbers and results.
- Providing comprehensive explanations of Profit & Loss impacts to management and wider stakeholders.
- Rolling quarterly forecasts and annual budgeting.
Detailed Roles & Responsibilities
- Daily P&L Reporting: Produce and analyse daily P&L reports and trading positions, providing insightful commentary to traders and management.
- Month-End Accounting: Manage month-end accounting, including submission and consolidation of trading results into the European group reporting pack with detailed commentary.
- Board Presentation Preparation: Prepare quarterly and annual board slides comparing business performance against prior years and budgets.
- Trading Entity Accounting: Oversee trading entity accounting and audits, including year-end derivatives footnotes within statutory accounts.
- Compliance: Ensure accounting procedures are compliant with Group requirements.
- Balance Sheet Reconciliation: Reconcile balance sheet accounts at month-end, highlighting large movements impacting the cash flow statement.
- FX Exposure Analysis: Analyse Foreign Exchange exposure and understand FX results.
- Mark to Market Valuations: Review all mark-to-market valuations, including internal marks for non-quoted markets.
- Transfer Pricing: Set annual transfer prices between trading entities and European refineries.
- Tax Efficiency: Liaise with the tax function to ensure sugar arrivals are managed tax-efficiently.
- Planning and Forecasting: Drive planning, budgeting, forecasting, and performance measurement.
- Trader Support: Help traders understand their responsibilities in maintaining control over their business.
- Accounting Standards Compliance: Ensure compliance with accounting standards, including IFRS 9.
- Risk Department Support: Support the risk department by ensuring traders maintain visible control over the business.
- Trade Capture Accuracy: Ensure all trades are captured promptly and accurately on the trade date.
Essential Capabilities
- Knowledge: Strong understanding of trading practices and position risks; excellent understanding of hedge tools such as derivative financial instruments.
- Technical Skills: Proficiency in SAP, ITAS, and Microsoft Office; strong MS Excel and PowerPoint skills; experience in SAP, BI, or equivalent data warehousing and reporting tools.
- Analytical Skills: Advanced Excel modelling skills; ability to adapt models for less advanced users; experience in modelling projects and "what-if" scenarios.
- Communication: Strong communication and interpersonal skills; experience in writing reports and developing presentations.
- Pressure Handling: Ability to work effectively under pressure to meet strict deadlines.
- Professional Awareness: Awareness of professional accounting developments relevant to the preparation of the T&L Sugars accounts.
Essential Education Requirements
- Degree: Bachelor's degree (minimum second class honours).
- Qualification: Qualified accountant (CIMA/ACCA/ACA).