A great introduction to one of the world’s largest commodity trading businesses – you’ll sharpen your accounting standards expertise, learn about valuation techniques and become a valued business partner to diverse decision-makers all over the world.

What’s the role?

Shell Trading consists of a number of businesses (Gas, Power and Emissions; Crude; Products; LNG). The role will focus on Gas, enabling you to develop real expertise.

The role combines 2 scopes: 1) derivatives accounting role during Month-End-Close periods; 2) Settlement analyst role in between the closings.

SCOPE:

As accountant you’ll be preparing IFRS-compliant derivatives accounting entries by applying accounting rules, to fair value and then report future commodity transactions. This is a new role in Finance Operations (FO). Guidance on the accounting rules will come from the Technical Accounting and Derivative Accounting colleagues in London, Houston or Singapore. Your role will be to apply these guidelines to the largest volumes of deal valuations coming from the Trading system. You’ll also be involved in the production of the associated analysis, commentary and year-end disclosures.

The role needs good attention to detail and an enquiring mindset; being on alert for new trades, for changes in the way they are entered and continually asking “does this make sense”. You should be comfortable working with different systems and prior experience with the trading system such as Aligne, Endur, or DEX will be an advantage

You will operate important controls when preparing the results and do first line analysis of key drivers.  You’ll work in close partnership with Technical Accounting and Derivative Accounting colleagues in London, Houston or Singapore who advise on the accounting treatment of new business proposals and on the ongoing accounting and reporting of commodity transactions (derivatives) for Shell’s Trading & Supply business.

Over time you will gain understanding of the key IFRS accounting principles underpinning derivatives.

You’ll learn that there can be material differences between Market Risk valuations (Fair economic value) and the accounting valuation – that’s why it’s vital that you can forge effective working relationships with Market Risk teams; they manage the underlying fair values calculation and identify deals that aren’t appropriate for IFRS accounting.

Outside the closing periods you will support Europe Gas Settlement team in daily billing activities. Those include:

• ensuring that transactions are processed accurately, in time and in accordance with agreed procedures and service standards.
• reviewing and challenging existing processes to reach process standardization and digitalization
• Pro-actively seek new and deliver existing efficiency to ensure maximum benefit for organization structure.
• ensuring knowledge maintenance, successful back-up structure and handovers in place
• communicate team performance status and needs to the Operations Manager and provide monthly service level metrics details including improvement plans if targets are not met
• setting the right priorities regarding multiple work and demands
• act as an escalation contact for internal and external stakeholders
• being a signatory for payments
• ensuring team compliance with all internal governance and procedures as defined.
• maintaining and operating control framework to ensures effective and robust control over all team activities.
• ensuring timely completion of audit tasks (both internal and external).
• driving the right LFI investigation / knowledge sharing and prevent re-occurrence.
• support team members’ development in role and for future assignment

• A qualified accountant (5 to 6 years), you’ve acquired good finance experience (including accounting & reporting) either in a commodity trading environment or with an accounting practice or other large corporate.
• Candidates with prior derivative accounting experience would be at an advantage.
• Strong knowledge of MS Excel
• Able to link an underlying process and set of activities to broader accounting concepts and able to understand “why” activities are needed; not just the “what”
• Able to apply some judgement and make practical recommendations taking into account (amongst other factors), data availability, systems, time etc
• Strong communications skills including the ability to relate concepts clearly when dealing with senior stakeholders and management who may be less familiar with area of derivatives. This could include understanding their needs and developing new report, checks or analysis.
• Able to work as part of a virtual global team, bringing a positive and proactive approach to managing and solving problems.

OTHER

• Roles supporting UK, to follow UK timezones. Outside of period close, there may be more flexibility to work local hours