This role sits between the trading desk and the accounting/finance function. The person will ensure that every physical or paper oil trade, along with all related costs (freight, storage, demurrage, insurance, financing, etc.), is accurately recorded, reconciled, and verified before being handed over to the external accounting firm for booking and reporting.

For our client, an oil trading company, we are currently looking for :

A trade & Cost control officer

Description

Trade Capture & Verification

• Record all confirmed trades (physical cargoes, paper/derivative positions) into the trading system (ETRM) accurately and on time
• Match trade tickets against broker confirmations, contracts, and counterparty confirmations
• Flag and resolve discrepancies between the front office (traders) and the deal entered in the system

Expense & Cost Control

• Collect and verify all trade-related invoices: freight, demurrage, port charges, storage, inspection, insurance, financing/interest costs
• Check invoices against contractual terms (charter party, storage agreement, letters of credit) before approval
• Ensure costs are allocated to the correct trade/cargo/deal for accurate P&L attribution

Reconciliation

• Reconcile trade positions, inventory movements, and costs between the ETRM/trading system and internal records
• Reconcile counterparty statements, bank confirmations, and letters of credit against internal trade records
• Investigate and resolve breaks before month-end close

Handover to Accounting Firm

• Prepare and package verified trade and expense data (supporting documentation, invoices, contracts) for the external accounting firm
• Act as the point of contact for the accounting firm on queries related to trade data, invoices, or cost allocation
• Maintain an audit trail for every transaction and cost item submitted

Compliance & Controls

• Ensure trades and costs comply with internal risk limits, credit approvals, and company policy
• Support internal and external audits by providing documentation and explanations
• Identify and escalate control weaknesses or process gaps

Profile

Experience

• 10+ years in trade support, middle office, or finance operations within an oil trading company (physical and/or paper crude/products trading)
• Strong, hands-on experience with ETRM systems
• Deep familiarity with physical oil trade documentation: bills of lading, charter parties, letters of credit, quality/quantity certificates
• Good accounting understanding, including how trade and cost postings flow into journal entries, P&L, and balance sheet, sufficient to liaise credibly with the accounting firm

Skills

• Strong attention to detail and comfort reconciling large volumes of transactional data
• Solid understanding of trade lifecycle (deal capture ? logistics ? invoicing ? settlement) and of the underlying accounting entries it generates
• Working knowledge of accounting principles and month-end close processes (accruals, provisions, cost allocation) as they apply to commodity trading
• Advanced Excel skills; comfort with ERP/accounting software interfaces
• Clear communicator able to work with traders, operations, logistics, and external accountants

Job Offer

A permanent role in a medium size oil trading company