Competitive salary + generous benefits package, including competitive pension plan
A truly global company, INEOS is one of the largest chemical companies in the world with 65 sites across 16 countries. INEOS Trading & Shipping trades almost 10 million tonnes of physical feedstock every year enabling other businesses within INEOS; in particular the four highly integrated and differentiated crackers of INEOS in Europe, to manufacture chemicals and polymers.
We have a growing shipping fleet under our control of 14 vessels, which includes the 27,500 cbm Dragon series of ships capable of transporting shale gas from the US to our cracker sites in Scotland and Norway. The shipping team transports more than 5 million tonnes of products per year for our businesses with around 2000 movements per year across seaborne and inland routes.
At INEOS Trading & Shipping we also look after a large portion of our European sites' exposures to natural gas, power and emissions markets. Natural gas and power help to run a number of our sites across Europe – our portfolio extends across Germany, Belgium and Norway while we are active participants within the European Emissions Trading Scheme.
We require an Assistant Business Controller with relevant experience to play a key role in the delivery and support of growth in our business. Reporting to the INEOS Trading and Shipping Business Controller the successful candidate will play a key role in analysing, reporting and forecasting financial results especially cash flow and working capital.
Accountability 1: Financial and Management Information for Decisions
Produce high quality, relevant management reporting, variance analysis and KPIs for the Energy Trading business to explain to senior management and the ITS Board the results. Lead in the assessment of results by providing insightful and relevant analyses to support business decision making. Ensure accuracy, integrity and compliance with INEOS internal reporting standards.
Accountability 2: Cash forecasting, cash optimization & working capital management
Embed cash awareness in the INEOS Trading and Shipping business team by increasing awareness, developing forecasting and analytical models to ensure that improving our cash flow is treated as a high priority. Ensure that the impact on cash flow is given consideration in decision making in order to deliver business targets. Produce accurate weekly cash forecasts for the Energy Trading business to support the making of correct business decisions and optimise cash. Work with the Senior Management team to ensure efficient working capital management, drive working capital improvements and to optimize cash flow of the business. Drive forecasting improvement by reviewing and learning from variances to support business decision making.
Accountability 3: Strategic and Operational Financial Planning
Support the annual planning and budgeting process for the Ineos Trading and Shipping business to ensure the production of an accurate annual plan that has been clearly explained and analysed. Ensure that gaps between strategic plan and annual plans are understood and support senior managers in identifying actions to close any such gap. Translate the annual plan & budget into financial and non-financial targets for each asset, function and business/product stream ensuring the Plan can be monitored at all levels.
Accountability 4: Forecasting
Lead the process to collect and collate information for the monthly Trading & Shipping financial forecast to provide senior managers with the latest view on the predicted results for the year. Present the forecast to the Business Managers for review and approval. Provide high quality business analysis to alert senior managers to potential deviations from strategic financial objectives for a given business area.
Accountability 5: Business Partnering
Work with and support the Business Managers by analysing and interpreting information and providing recommendations and ad-hoc support to deliver business targets. Deliver through others by challenging assumptions and leading improvements in forecasts and developing relationships with contacts across the business.
Accountability 6: Financial Control, Risk Management & Integrity of Results
Develop a robust control environment by proactively identifying financial and business control issues, implementing internal control processes and reviewing compliance with such processes. Ensure Ineos Trading and shipping delegation of authority is adhered to in order to ensure a high level of financial rigour.
Accountability 7: Compliance
Work with the Ineos Trading and Shipping Compliance manager to understand regulatory obligations impacting current and future trading activity to ensure full compliance.
Accountability 8: Credit Management
Responsible for credit management for Gas, Power, LNG and Emissions including the assessment of the creditworthiness of counterparties, allocation of credit limits, daily calculation of credit exposure and the negotiation of credit-related clauses within trading agreements. Work closely with the Legal department and Business development team to help negotiate Gas & Power EFET agreements, providing key input on termination clauses, Material Adverse Change triggers and Credit Support Annexes.
Accountability 9: Settlements Management
Manage the settlements process within the new risk management trading system. Liaise with the Grangemouth accounting team (accounts payable / receivable / treasury) to ensure payments and receipts are processed accordingly and reflected correctly within SAP.
Accountability 10: FX Management
Consider the potential FX exposure within the portfolio and review appropriate processes for reporting FX exposure and managing the execution process for hedging.
Accountability 11: Process Improvement and Financial support
Support and advise the Business controller, Business Managers and commercial team on financial management and business processes, including financial business systems, business process design and engineering
Interested candidates should possess:
University Graduate or equivalent
Qualified accountant with a minimum of 2 years post qualification experience
Experience in an international company, having had exposure to management accounting & analysis
Good knowledge of accounting control procedures and accounting rules
Ability to identify accounting issues that arise and ensure correct treatment
Good understanding of accounting ratios to support counterparty creditworthiness
Ability to communicate at a technical accounting level as well as at a business level
Analytical mindset and problem solving approach
System knowledge and experience – SAP, Qlikview, Microsoft Excel, PowerPoint, Word
Ability to work productively when under pressure, meet tight deadlines and multi-task
Good interpersonal, communication and people management skills
Ability to present and defend an argument in a logical way
Strive for continuous improvement
Energetic, enthusiastic, self-motivated and results oriented personality
Lead by example and take responsibility for own performance
Credibility with senior managers
Ability to prioritise
Ability to communicate at a technical accounting level as well as at a business
We are only able to consider candidates who are eligible to live and work in the UK
Please apply and submit your CV by Monday 27th August.