Company Description
Trafigura Global Services Pvt. Ltd. (TGS) is the Global In-house Centre (GIC) for Trafigura. Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world. The trading business is supported by industrial and financial assets, including 49.6 percent owned global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura’s Mining Group; 50 percent owned DT Group which specialises in logistics and trading; and Galena Asset Management.
The Company is owned by around 600 of its 4,100 employees who work in 61 offices in 36 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD98.1 billion in 2016. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade.
Responsibilities
This role is responsible for analysis and accounting of financial instruments and other balance sheet positions, which includes and not limited to derivatives, hedge rule applications, stock etc. The role will involve discussions with various internal departments to finalize the accounting treatment and reporting to management, getting involved with various accounting projects and related activities.
- Ensure proper stock reconciliations are performed by Deals Desk and Operations. Reconcile trade information between the various trading systems and the accounting system (Sun). Work closely with the Front/Mid Office in a fast moving business where inherent risk has to be mitigated by implementing effective controls.
- Raising of Sales Invoices and booking Purchase invoices.
- Review of trial balance and analyses / commentary of major movements.
- Perform revenue recognition checks to ensure compliance with accounting standard.
- Preparation & posting of various journals for month end process like prepayment, reclassifications etc.
- Evaluate accounting of various physical and derivative positions and determine application of hedge accounting where appropriate.
- Identify and review areas of required grossing up or netting of the balance sheet and ensure the same is applied per accounting standards.
- Prepare disclosure schedule / audit documentation and liaise with external auditors.
- Partnering on various accounting projects in related accounting areas.
- Stock verification and valuation
Qualifications & Skills
- Chartered Accountant (preferably with first time passes), CFA or prior experience in derivative accounting will be a significant advantage
- Highly developed communication skills and experience of operating in an international environment, preferably from working for an international company.
- Self motivated with a mature attitude. Able to work independently in a professional manner and maintain high standards of integrity.
- Ability to question and challenge the existing processes, with a view to creating reporting efficiencies and improvements.
- International outlook. Able to cope with working with staff in different offices worldwide.
- Drive and determination to obtain understanding of complex, business-driven transactions and report these accurately according to the appropriate accounting standards.
- Can work with various data sets and comfortable using various systems and excel
- Team player with an enthusiastic approach to fresh challenges.
- Strong communication skills. Comfortable to liaise with non accounting staff at all levels on a routine basis.
Key Relationships
- Business Controllers
- Deals Desk (who calculate daily trading result and market risk)
- Operations /Chartering (logistics)
- Trade Finance
- External Audit teams
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