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Energy Trading Accountant

Eton Wick
Centrica Services Ltd

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Centrica Energy Marketing & Trading is the trading arm of Centrica. We trade gas, power and LNG and provide the route to market for our upstream and power generation operations.

The Senior Energy Trading Accountant will be responsible for completing the month-end close processes for the London based Proprietary Trading business within Centrica’s Energy Marketing & Trading (EM&T) business. Completing the month-end accounting and reporting for commodity, foreign exchange and hedging derivatives within EM&T and other parts of Centrica including British Gas, and Centrica Business Solutions. The role holder will also be required to prepare and consolidate IFRS 9 related disclosures on Financial Derivatives for Group reporting and Statutory reporting.

The role is based in Windsor with some travel into London required.

The Job role:

  • Support the month-end Financial Control process for all proprietary trading books managed within EM&T including trading of gas, power, oil, LNG and green certificates including:
    • Journal upload & ensuring data integrity in SAP
    • Integrity review process with Business Finance and Product Control stakeholders
    • Income Statement/Balance Sheet/Cash Flow reporting deliverables
    • Month-End controls completion including Balance Sheet reconciliations

  • Own and develop the Month-End Financial Control process for IFRS 9 accounting including:
    • Journal upload & ensuring data integrity in SAP
    • Quarterly IFRS 9 reporting review process with FP stakeholders
    • Reporting of FX positions working with Treasury
    • Hedge Accounting for EM&T and other Centrica businesses
    • Group reporting requirements at Year End and Half Year for: Derivatives & Hedge Accounting; Fair Value of Financial Instruments; Financial Risk Management; and Commitments.

  • Support the completion of stats for CEL, BGTL, CEML and BGEPL with reference to derivative and fair value disclosures and adjustments
  • Support delivery of Year End and Interim audits for prop-trading and IFRS 9 accounting. Create and manage good relationships with the external auditors
  • Transform and modernise Financial Control processes including identifying processes that could be transferred offshore and support development of interfaces between SAP and source systems (Endur/Secure Environment)
  • Develop effective working relationships with Business Finance and Product Control to ensure trading is accurately represented in the external reporting.

The Person:

  • Be a Chartered Accountant with post qualification experience
  • Experience of physical and financial energy markets and accounting for transactions in these markets
  • Understanding trading concepts covering: long/short positions; forwards/futures/ options/swaps; realised/unrealised positions; margin cash/collateral; bid-offer spreads
  • Understanding of accounting for: IFRS 9 Financial Instruments and IAS 32 Presentation of Financial Instruments; derivatives; foreign currency transactions; revaluation; hedge accounting
  • Experience in meeting month-end and year-end accounting and reporting deadlines and operating related controls (i.e. Balance Sheet reconciliations; Analytical Reviews of Balance Sheet and P&L; cashflow reporting)
  • Experience with financial accounting and reporting systems: SAP; BPC; BW or similar systems
  • Ability to process and interrogate large trade datasets (50,000 rows) quickly through spreadsheet (or other) analysis tools
  • A process-focused individual with a passion for continuous improvement and ability to deliver change involving multiple stakeholders
  • A positive self-starter who can identify issues as they arise and resolve them with minimal involvement from manager
  • A team player who can collaborate with others within EM&T and across Finance Operations as the need arises
  • Calm under pressure with the ability to juggle and prioritise multiple deliverables with a high degree of self-management
  • Ability to present a complex subject in a clear and simple way.

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