Analyst – DS Energy Accounting

PURPOSE

Perform and support daily operations of the Energy Accounting teams in Stock Recording & Reconciliation, Contracts & Pricing, and Stock Valuation. Provide proactively issue resolution to support E2E process and value chain in Energy Accounting area. Deliver assigned activities and drive for operational excellence within the team

ACCOUNTABILITIES

Main Responsibilities:

• Ensure that all request are approved, reviewed and updated into system according to agreed timeline.
• Execute and ensure timely completion of all the activities of the Stock Valuation & Margin Segmentation Team including the running of stock valuation programs at month end, which includes FIFO, NRV, CCS, COGS, GINI and GRANI.
• Complete SOAR balance sheet recons and update status on a monthly basis in MOE.
• Capture manual journal entries in GSAP R/3
• Validate that all movement transactions which have physically taken place have been accurately and completely recorded in the system before stocks are reconciled.
• Validate if discrepancies exist, that they are being investigated and resolved on timely basis.
• Reconcile book vs physical stocks on regular basis, and on time for period end close.
• Ensure risk & title of stocks are properly recorded between manufacturing and Trading & Supply.
• Obtain and validate the following in Third Party operated depots/Exchange locations/pipelines: Shell daily throughput figures, Gain/loss figures as agreed with 3rd parties, Shell physical stock information for period end stock reconciliation
• Investigate and resolve any discrepancies with figures from 3rd party operated depots, including stock differences outside of tolerance.
• Post any final stock differences within allowed tolerance to the appropriate gain/loss accounts in accordance to the Manual of Authorities (MoA), in compliance with GSAP and SOX 404 guidelines.
• Prepares overview of losses & gains for approval.

Governance and Assurance

• Ensure compliance with all relevant Shell standards and policies (i.e. OMP policies and IFRS standards).

Risk Management

• Do “hands on” to investigate and troubleshoot issues.
• Identify and understand key components/movements in Inventories GL and key contract details updated in the system (e.g. fixed price/formula price).

Financial Controls

• Understand and implement the corresponding financial controls associated with the process to mitigate financial reporting risks
• Ensure timely storage of evidence on task carried out in Global Records Management System.

Business Partnering

• Provide information to direct stakeholders timely, accurately, and professionally.

Business Performance Management

• Identify and assist in developing solutions for issues identified for operating units in scope of role.

Process and Data Management

• Apply ESSA (Eliminate, Simplify, Standardize, Automate) mindset to drive process simplification and improvement.

SPECIAL CHALLENGES  

• This role will support Shell’s Bukom Refinery in Singapore
• Escalate when staff backup plan is not workable due to conflicting deadlines, complexity of tasks and staff turnover.
• Procuring and maintaining sufficient depth of business knowledge in the team where this can be applied to identify errors in activities and value add.
• Provide support to the team on Continuous Improvement projects
• Understand the process underlying business implications and its impact on process steps
• Build end-to-end business and process knowledge, as well as market- and country-specific knowledge of customers
• Update knowledge on latest changes in local supply and distribution environment, and its impact on current tasks.
• Leverage on learning gained from handling in-scope activities, through LFIs, participating in sharing and team discussions.
• Manage and meet multiple deadlines
• Ensure tight compliance to key FCM Controls around Group reporting
• Establish and maintain good working relations with stakeholders
• Highlight differing and changing client expectations.
• Existing in-scope activities may undergo continuous changes, demanding more FTEs or requiring re-deployment where activities become obsolete

DIMENSIONS

• Process: E2E SRR, CPT and SV
• Geographical Scope: Singapore
• Reports directly to Team Manager

Ensures that Shell has a true and precise representation of purchases/sales transactions and stock levels for use in the Group’s financial reporting. Contributes to the Energy Accounting Supply Chain Management via daily and monthly operational tasks and processes with corresponding operation of financial controls.

This role impacts cash flows, payables and receivables, as well as ending inventory figures in the Financial Statements. It also impacts Gross Refinery Margins and Contribution Margins in the company’s Profit & Loss Statement. It also has an indirect impact on other Energy Accounting processes due to connectivity with Contracts & Pricing, Stock Reconciliation, HM Exchange, and Stock Valuation.

REQUIREMENTS  

• Degree in Finance/Accounting, preferably with professional certification (i.e. ACCA/CIMA/CPA, etc.)
• Strong financial background and understanding of internal controls
• Minimum 3 years’ experience in any Accounting-related field. (Understanding of SAP is an added advantage)
• Strong adherence to processes, policies, and procedures
• Strong problem-solving skills, analytical abilities, and inquisitive mindset
• Excellent communication skills (both written and oral) as well as interpersonal and relationship building skills
• Understanding of product measurement and accounting practices, inventory management, costing and impact on stock valuations is an added advantage
• Capable of working under pressure and highly driven to meet deadlines
• Ability to work independently and as part of a team
• Ability to integrate business and process knowledge