Our client is an Oil trading and supply company based in Central London.
We are seeking an experienced Oil Contracts Analyst with experience in the Physical Oil sector, to join the London based team. The ideal candidate will also help in driving the improvement of contract management processes and contribute to our goal of building a stable, quality-driven and control-focused contracts desk
The role’s primary function is to ensure the integrity and accuracy of data entry and of the risk undertaken by the business via a thorough and methodical trade verification and contract review process. Attention to detail is highly relevant, as is the ability to co-ordinate multiple demands and sets of data. The role provides essential risk management and control, preserving and enhancing the company’s risk mitigation and reputation.
MAIN RESPONSIBILITIES:
- Reconcile trades within the system of record and against all supporting documentation.
- Review counter party contracts and respond promptly, first addressing any trade discrepancies with internal stakeholders; for bulk cargo transactions, the main focus will be purchase agreements.
- Follow up with counter parties, and by means of purchase confirmation issuance, if purchase contracts are not received in good time.
- Manage the full contract life cycle and counter contracts to conclusion.
- Identify and mitigate risks associated with contract terms and GT&Cs.
- Manage the Confirmation process for marine bunker deals; this will consist of information gathering across multiple channels of communication, an involved verification process, trade entry validation within the system of record and documentation upload.
- Maintain a strong audit trail and document management best practice in the electronic tracking and logging of contracts and all related documents and correspondence.
- Ensure that best practice contract management is applied at all critical control points.
- Identify potential problems; address issues as they arise, monitoring and escalating where appropriate.
- Assist with GT&C reviews.
- Identify process gaps and assist in the implementation of process and system enhancements.
- Contribute to risk management goals and support synergies across functions.
- Contribute to the effectiveness of the team through close collaboration with colleagues and the sharing of information, skills and responsibilities.
- Special projects, as and when required.
ESSENTIAL EXPERIENCE REQUIRED:
- Experience as a Contracts Analyst within the physical commodities sector, preferably in waterborne oil contracts.
- Prior experience in standardised Confirmation processes a plus but not essential.
- Strong understanding of contract lifecycle management.
- Well versed in industry GT&Cs and Incoterms.
- Organised, with a high level of attention to detail and the ability to effectively manage conflicting priorities and deliver consistently against tight deadlines.
- Motivated by operational processes.
- Exposure to new system implementation.
- Excellent communication skills, both verbal and written.
- Proficiency in MS Office applications; intermediate or advanced Excel skills are an advantage.