Accounting Analyst, Settlements (Contract)

ARAMCO TRADING SINGAPORE PTE. LTD.; Singapore; On-site; SGD 70,000 - 100,000; Full time

Job summary

ARAMCO TRADING SINGAPORE PTE. LTD. is seeking an Accounting Analyst to manage invoicing and settlement of physical and financial commodity transactions.

The role covers data integrity in the ETRM system and SAP, with responsibilities in reporting and process improvements. This is a 1-year contract with potential extension, based in Singapore. Qualifications include a bachelor’s degree in accounting/finance and at least four years of experience in trade settlement and invoicing, plus strong Excel

Qualifications

• Bachelor’s degree preferred in Accounting, Finance or related field.
• Minimum 4 years of relevant trade settlement and invoicing experience.
• Industry knowledge - experience with trading counterparties, trading desks and shipping knowledge.
• Financial knowledge - IFRS reporting, invoicing for energy and related products, energy settlements.
• Proficient in MS Excel and able to work independently and in a team.

Responsibilities

• Ensure accurate settlement of physical and financial transactions and generate invoices and remittance statements.
• Perform mid-month and month-end checkouts with counterparties.
• Produce accounts receivable aging reports and address collections issues.
• Coordinate with traders, schedulers, credit teams and operations to resolve invoicing issues.
• Prepare proforma invoices for customs clearance.

Skills

Communication skills

Team player

Under pressure

Education

Bachelor’s degree in Accounting/Finance

Tools

MS Excel

Job description

Aramco Trading was established as Saudi Aramco’s trading arm in 2011 under the approval of Saudi Aramco’s Board of Directors. It established its headquarters in Al-Midra Tower in Dhahran, Saudi Arabia and have 4 other global offices in London, Singapore, Dubai and America. With five offices currently operating worldwide, Aramco Trading has broader access to markets, a wider client base, a more talented and diversified workforce, and a more sophisticated and integrated global business model.

Today, the company is recognized globally as a critical trading partner for refiners, shipping companies, financialinstitutions, end-users, and other product-trading companies. The company trades across the barrel including Crude, Middle distillates, Light distillates, bulk petrochemicals, polyolefin and recently clean energy likeLNG, Emission and Biofuels.

Aramco Trading Singapore (ATS) is the largest subsidiary out of the kingdom and is actively trading within the region and globally across all products since 2018.

The Function

The Accounting Analyst is responsible for managing the billing process and resolving any errors to ensure timely, accurate and complete settlement of physical and financial commodity transactions and obligations agreed in the contracts through sales invoices to customers and payments to vendors.

This is a 1 year contract with possibility to extension.

Key Accountabilities

Role - Invoicing

• Ensure accurate settlement of physical and financial transactions using the ETRM system
• Produce invoices and remittance statements according to the specific contractual terms for timely settlement
• Perform mid-month and month-end checkouts with counterparties
• Produce monthly accounts receivable aging reports and identify collection issues
• Ensure payments are accurate and timely
• Liaise with Traders, Schedulers, Credit teams and Operations to address issues including contract and movement entries, deal documentation review
• Coordinate with counterparties to resolve invoicing transactions
• Assist the Operations team with the settlement of shipping and duty payments to customs
• Prepare proforma invoice for custom clearance

Role - Data and Process Management

• Ensure integrity of settlement data within the ETRM system, SAP and interfaces to facilitate accurate reporting
• Develop, document, and maintain procedures for related activities, and modify as required
• Review departmental processes and recommend improvements

Role - Reporting

• Settlements summary
• Outstanding confirmations aging report
• Statement reports
• Counterparty reports
• Actualization reports
• Accounts receivable aging reports and identify and address collections issues

Requirements

• Bachelor’s degree preferred in Accounting, Finance or related field
• Minimum 4 years of relevant trade settlement and invoicing experience
• Industry knowledge - experience of working with trading counterparties and direct contact with trading desks and good working knowledge of trading systems and shipping knowledge
• Commodities trading knowledge - trading fundamentals, counterparties and key players in market
• Financial knowledge - good knowledge of different accounting reporting requirements (IFRS), experienced in invoicing processes for energy and related products, understanding and experience of the energy settlements processes and market developments
• Proficient in MS Excel
• Good team player with the ability to work both independently and collaboratively in a team
• Able to work under pressure to meet deadlines

Do you have what it takes? If you are keen to grow your career with a leading energy company, this is the role for you.

We regret to inform you that only selected candidates will be notified.