Trading & Shipping, Business Controller - London

INEOS - Finance
Ref: 1070 Date Posted: Monday 11 Jan 2021
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Job Details

Job Title -  Business Controller



Hans Crescent, London


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 (ITS) 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.

Other areas of expertise and operation include provision of oil price analysis and advice to the wider INEOS group of companies, management of price risk in volatile markets and constant awareness of and compliance with sanctions and financial regulations such as REMIT, EMIR and MiFID.


We require a Business Controller with relevant experience to play a key role in the delivery and support of growth in our business. Reporting to the O&P North Business Controller the successful candidate will play a key role in analysing, reporting and forecasting financial results especially cash flow and working capital.


Principal Accountabilities

Accountability 1: Financial and Management Information for Decisions

Produce high quality, relevant management reporting, variance analysis and KPIs for the ITS 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 ITS 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 ITS 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 ITS 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: Settlements Management

Liaise with the Grangemouth accounting team (accounts payable / receivable / treasury) to ensure payments and receipts are processed accordingly and reflected correctly within SAP.

Accountability 9: 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 10: Process Improvement and Financial support

Support and advise the Business Managers and commercial team on financial management and business processes, including financial business systems, business process design and engineering

Accountability 11: People Management

Line management responsibility for the ITS Assistant Business Controller to aid support in delivery of the preceding accountabilities.


Interested candidates should possess:


  • University Graduate or equivalent
  • Qualified accountant with a minimum of 5 years post qualification experience
  • Experience in an international company, having had exposure to management accounting & analysis

Technical Skills

  • University Graduate or equivalent
  • 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
  • International outlook
  • 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