Job Description What's the role?
You will be accountable and responsible for the financial accounting of derivative transactions in SAP, all reconciliations, and preparation of related footnotes for Royal Dutch Shell (RDS) financial statements and statutory accounts for several Shell Trading & Supply subsidiaries. Other details include but are not limited to the following:
- Review the Market to Market (MTM) balances provided by Risk and booked in the General Ledger, including reconciling the balances to source data
- Maintain multiple MTM balances and identify required differences
- Ensure compliance of MTM accounting results with Group policies, International Financial Reporting Standards (IFRS) and local Generally Accepted Accounting Principles (GAAP)
- Compile derivative disclosures in compliance with Group policies, IFRS and local GAAP
- Awareness and compliance with Dodd-Frank as needed; response to Compliance or other requests for related analytical review
- Maintain key Sarbanex - Oxley Program (SOX) controls to ensure proper Balance Sheet presentation of MTM assets and liabilities
- Analyze the results to understand and explain the drivers of MTM profit/loss
- Work with Market Risk to ensure they are aware of and understand changes to accounting rules
- Understand how non-standard deals are entered into the system in order to assess the impact to derivative accounting, as they occur
- Track and maintain deals that are accounted for differently in score card vs. financial statements
- Maintain fair value accounting reserves
- Prepare and present variance analysis to VP of Finance for quarterly approval
- Review curve leveling to ensure alignment with local GAAP and IFRS 7
- Collaboratively work with auditors as needed on quarterly basis for the RDS and statutory accounts
- Actively assist with other departmental and Group initiatives as needed
This is an individual contributor role that is key to ensuring that our financial positions are correctly stated. This is key to our license to operate. This person can make changes to desk procedures as needed, request changes from others as needed and agreed for efficiencies or corrections. Updates to procedures are required to be documented. Changes to SoX controls require line manager approval.Company Description
Shell is a global group of energy and petrochemical companies with about 84,000 employees across more than 70 countries. We aim to meet the world's growing need for more and cleaner energy solutions in ways that are economically, environmentally and socially responsible. We have expertise in exploration, production, refining and marketing of oil and natural gas, and the manufacturing and marketing of chemicals. As a global energy company operating in a challenging world, we set high standards of performance and ethical behaviors. We are judged by how we act and how we live up to our core values of honesty, integrity and respect for people. Our Business Principles are based on these. They promote trust, openness, teamwork and professionalism, as well as pride in what we do and how we conduct business. Building on our core values, we aspire to sustain a diverse and inclusive culture where everyone feels respected and valued, from our employees to our customers and partners. A diverse workforce and an inclusive work environment are vital to our success, leading to greater innovation and better energy solutions.An innovative place to work
There's never been a more exciting time to work at Shell. Everyone here is helping solve one of the biggest challenges facing the world today: bringing the benefits of energy to everyone on the planet, whilst managing the risks of climate change.
Join us and you'll add your talent and imagination to a business with the power to shape the future - whether by investing in renewables, exploring new ways to store energy or developing technology that helps the world to use energy more efficiently.A rewarding place to work
Combine our creative, collaborative environment and global operations with an impressive range of benefits and joining Shell becomes an inspired career choice.
We're huge advocates for career development. We'll encourage you to try new roles and experience new settings. By pushing people to reach their potential, we frequently help them find skills they never knew they had, or make career moves they never thought possible.Requirements What we need from you
- Must have legal authorization to work in the US on a full-time basis for anyone other than current employer.
- Bachelor's Degree in Accounting required.
- Qualified accountant with a minimum of four (4+) years post qualification experience.
- Previous roles in Energy Trading finance or technical accounting advisory - controller roles will be a strong plus.
- Experience in technical accounting issues, particularly financial instruments, IAS 39 and application of such accounting rules.
- Able to relate theoretical accounting literature to commercial trading activities and communicate the impact to the trading business and senior management where required.
- Certified Public Accountant (CPA) preferred.
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