You’ll be preparing IFRS-compliant derivatives accounting entries by applying accounting rules, to fair value and then report future commodity transactions. This is a new role in FO. Guidance on the accounting rules will come from the Technical Accounting and Derivative Accounting colleagues in London, Houston or Singapore. Your role will be to apply these guidelines to the largest volumes of deal valuations coming from the Trading system. You’ll also be involved in the production of the associated analysis, commentary and year-end disclosures.
The role needs good attention to detail and an enquiring mindset being on alert for new trades, for changes in the way they are entered and continually asking ‘does this make sense’. You should be comfortable working with different systems and prior experience with the trading system such as Aligne, Endur, or DEX will be an advantage
You will operate important controls when preparing the results and do first line analysis of key drivers
You’ll work in close partnership with Technical Accounting and Derivative Accounting colleagues in London, Houston or Singapore who advise on the accounting treatment of new business proposals and on the ongoing accounting and reporting of commodity transactions (derivatives) for Shell’s Trading & Supply business.
Over time you will gain understanding of the key IFRS accounting principles underpinning derivatives
Outside of period end the roles will involve
- Proactively identifying opportunities to improve the reporting and analysis be that providing additional analysis or streamlining process
- Once you have a good grounding in the role, there will be opportunities to get involved in a wider range of activity for example supporting the implementation of any new accounting standards (recent examples include IFRS 9) or undertaking a review of liquidity across different commodities.
REQUIREMENTS
A qualified accountant, you’ve acquired good finance experience (including accounting & reporting) either in a commodity trading environment or with an accounting practice or other large corporate.
Candidates with prior derivative accounting experience would be at an advantage.
Strong knowledge of MS Excel
Able to link an underlying process and set of activities to broader accounting concepts and able to understand ‘why’ activities are needed not just the ‘what’
Able to apply some judgement and make practical recommendations taking into account (amongst other factors), data availability, systems, time etc
Strong communications skills including the ability to relate concepts clearly when dealing with senior stakeholders and management who may be less familiar with area of derivatives. This could include understanding their needs and developing new report, checks or analysis.
Able to work as part of a virtual global team, bringing a positive and proactive approach to managing and solving problems.
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