Job Title: Cost Accountant
Business Unit: INEOS Trading & Shipping (ITS)
Location: Knightsbridge, London (office based)
Hours: 37.5 hours per week (full-time)
Background
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 10 million tonnes of products per year for our businesses with around 3,000 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 several our sites across Europe – our portfolio extends across Germany, Belgium and Norway while we are active participants within the European Emissions Trading Scheme.
Requirement
We require a Cost Accountant with relevant experience to play a key role in the delivery and support of growth in our business. Reporting to the Business Controller, the successful candidate will be responsible for the reporting of shipping costs and for settlements in the Feedstocks team.
Principal Accountabilities
Accountability 1: Assist Finance Team
As part of the INEOS Trading and Shipping Finance Team, the Cost Accountant will aid in Month End tasks. This includes assisting in managing the Shipping P&L via accounts payable/receivable transactions, as well as posting accruals and prepayments.
The Cost Accountant will liaise with external parties to manage both fixed and variable costs associated with Shipping activities and ensure bunker stocks are documented and reconciled on the balance sheet.
The Cost Accountant will support in production of final month end deliverables.
Perform variance analysis on differences in performance versus forecast and budget.
Raise any invoices required and post to Accounts Receivable ledger and ensure internal coding is correct. Monitor the systems for unpaid/overdue items and work with the Trading team to follow-up and resolve these items.
Produce monthly forecast of Shipping P&L and weekly forecast of Shipping cashflow.
Produce annual budget for Shipping P&L.
Accountability 2: Process improvement
A key element of the role will be involvement in Finance process improvement as the business enters a period of significant expansion. This includes streamlining month end processes in conjunction with the Operations, Trading, Shipping, and Risk and Control Teams and improving the interface between SAP and existing Finance related documentation and reconciliations.
Accountability 3: Accounts Payable/Receivable for Feedstocks Team
Raise any invoices required and post to Accounts Receivable ledger in a timely manner as requested by Feedstock Operators and ensure internal coding is correct.
Monitor the systems for unpaid/overdue items and work with the Feedstocks team to follow-up and resolve these items.
Record and process invoices received by the Feedstocks team for accuracy, ensure all the invoices are appropriately approved under pre-defined Delegation-of-Authority (DoA) limits and then passed to Accounts Payable for posting to AP ledger and subsequent settlement. These invoices will include product purchases, shipping charters, and bunker invoices as well as general services for the team in Hans Crescent.
Work with the ship charterers to manage demurrage with the ship brokers.
Accountability 4: Preparation and Maintenance of Process Documents
Prepare and maintain a set of procedures which documents the settlement process for AP & AR covered by this Job Description.
Interested candidates should possess:
Qualifications/Experience/Technical
- Knowledge of accounting control procedures and accounting rules
- At least one year experience in a finance role, or working towards accounting qualification – ACA, ACCA, CIMA equivalent
- Analytical mindset and problem-solving approach
- Ideally have system knowledge and experience using SAP and Qlikview
- Proficient in Microsoft Excel, PowerPoint and Word
Behavioural
- Ability to work productively when under pressure, meet tight deadlines and multi-task
- Good interpersonal, communication and people management skills
- Strive for continuous improvement
- Energetic, enthusiastic, self-motivated and results oriented personality
- Take responsibility for own performance
- Ability to prioritise
We are only able to consider candidates who have the right to live and work in the UK, as we are unable to offer visa sponsorship for this role.
To apply, please click 'Apply' and submit your cover letter and CV
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