This position is responsible to assist the FRM tower Lead and support the country financial risk management team.
Position Purpose & Summary:
This includes developing and deploying the plan to create business-wide processes to manage controls, reporting, and providing decision support specific to the financial risk processes including commodity, foreign exchange and contract valuation. The incumbent will support the existing risk management systems and MIS to complement the same along with sound financial reporting while enabling processes and controls to significantly improve over time.
The incumbent will have a proven ability to anticipate and interpret financial information and related data, and clearly communicate and apply the findings with senior management to enhance management decisions
With primary focus on commodity risk and foreign exchange risk compliance, controls, and reporting, this position supports the tower Lead and be a partner with commercial and business teams to deliver key controls, compliance, data, and reports timely and accurately.
Preparing Trading PNL estimates and working with the commercial team for the reconciliation with Accounting numbers.
Work with team members across the different towers as well as with shared Service where required.
70% - Commodity, Foreign Exchange, Counterparty and Contract Valuation Process Management and Reporting.
- Manage Trading P&L. Work with commercial team to work on reconciliation of accounting nos. vs. trading estimates.
- Monitor credit risk assessment of active customers/ suppliers (e.g. Tower Lead, A&F Lead).
- Manage position reporting and work on tolerances on shipments
- With limited oversight actively manages customer accounts receivables with a high-risk tolerance on an enterprise level.
- Collaborates with credit analyst/ sales team to develop action plans for releasing orders from hold.
- Collaborates with senior management and the business team’s liaison to identify root causes of disputes and propose solutions.
- Ensure compliance, specifically with risk reporting and valuation of open contracts.
- Prepares and manages various reports including exposures reports for forex and commodity, and to ensure compliance with audit requirements and internal controls.
30% - Business Partnering
- The incumbent will be a strong finance professional who has the requisite financial knowledge and business partnering capability that will allow him/her to be highly credible in making or enabling decisions in this fast-moving business
- With limited oversight, communicates issues appropriately with relevant internal and external partners.
- Ensure efficiency and effectiveness of process mainly in the following areas:
- Trading P&L, Limits setting, Exposure monitoring/ reporting, AR collections, Past due monitoring & control and Contract validation & Valuation.
- Prepares and manages various reports used to show account performance including exposures, and to ensure compliance with audit requirements and internal controls.
- Create a culture of cooperation and maintain a sound communication between the commercial teams.
Education, Experience, Skills:
- University graduate.
- Minimum 3-4 years of accounting or finance experience.
- Strong accounting experience with knowledge in Commodity, Forex and Counterparty risk.
- Strong Learning and execution agility to understand new derivative products, trading strategies and business model.
- Demonstrated change agility.
- Strong problem solving and analytical skills.
- Understanding of derivative products.
- Demonstrated ability to understand and use technology to improve process and control.
- Excellent communication skills, both written and verbal.
- Business level of English Proficiency, both written and verbal.
- Bachelor’s Degree in Finance or Accounting
- Proficient knowledge in current business financial processes and systems.
- Experience in Commodity trading business.
- Demonstrated ability to create a team culture of continuous improvement, process optimization and intellectual curiosity.
- Understanding and experience working with JDE, SAP.