Trade Risk Officer
- Location: Belgium, Mechelen
- Type: Permanent
- Application Deadline: 05/05/2018
- Hours: Full-time
Role Purpose The trade support and risk officer is responsible for the follow-up and control of the financial risk management activities and the administration related to the buying and selling of feedstock and products, energy purchases and greenhouse gas emissions of Business Unit Hydrocarbons & Energy (BU HC&E).
Area of responsibility
- Monitor and ensure compliance to risk limits and Borealis’ standards – including recommendations to the Business Unit controller/Group Risk Manager and Business Unit business managers to create new mandates, suspend trading and liquidate positions.
- Ensure compliance with national laws and internal procedures and processe
- Execute daily calculation of price risk position and ensure that calculated risk position reflects reality by means of close follow-up of traders’ activities and positions (check if trading system SAP is correctly updated).
- Administer the financial risk aspects of contracts including validating deals against Traders' confirmations.
- Upload / maintain price database and selected master data in the SAP trading system.
- Monitor credit exposure on a daily basis – including playing a key role in setting the credit limit and in the negotiations for PCG, L/C and ISDA. Responsible for counterparty vetting (first screening before credit and collection performs in depth financial evaluation of counterparty).
- Responsible for creating/renewals of power of attorneys within BU HC&E
- Produce and publish daily olefins fixed prices for the Borealis internal market and support the development of the process.
- Take part in the BU month-end closing procedures: checking and publishing monthly prices and FX rates, ensuring that holiday schedules are up to date in SAP (pricing dates) and ensuring that financial swaps are correctly settled.
- Provide accurate weekly energy reporting: position and P&L resulting from energy swaps. Analyse and highlight areas were corrective actions might be needed to the Group Energy and Utilities sourcing manager.
- CO2 allowance follow-up in collaboration with local energy specialists and legal authorities.
- Maintain the CO2 registries of the different entities and initiate transactions
- Support the processes and procedures necessary to ensure that the BU meets the obligations entered into as a result of the trading activities.
- Play an active role in the trade support and risk office to ensure efficient and effective operations, supporting external trading operations
- Ensure that the underlying IT systems are effectively and efficiently used and accurately represent the actual transactions.
- Contribute actively to the development of an effective and well motivated Trading risk office team.
- Support the activities of colleagues in BU HC&E through direct personal and timely contact
- Ensure that high-quality data and information is available in a timely manner to meet internal (BU HC&E trading and commercial organization) and external expectations (BU HC&E external counterparties). Provide support to BU HC&E trading and commercial organisation.
- Understand and promote Borealis’ business
- Develop and improve internal / external customer relations
- Support Group Risk manager
- Effective communication and collaboration with BU HC&E external counterparties: customers/suppliers/legal authorities and local energy specialists
- Give support and ensure appropriate communication and cooperation with BU HC&E trading and commercial organisation
- Get support from internal and external lawyers
- Support Group Risk manager, credit & collection and HC Accounting
- Provide necessary information to internal and external auditors
- Collaborate and give feedback to IT&S, Group Controlling, external IT-providers
Skills, knowledge and experience
- Bachelor degree in finance / business administration / accounting
- Previous experience in a similar or related position is preferred. However, a starter with good basic analytical skills, good communication skills and a strong strive for order and quality can be certainly envisaged.
- Languages: fluent in English and Dutch
- Strong data interpretation and validation skills
- Basic knowledge in financial analysis and performance evaluations.
- Drive for problem solving and initiative, be persistent
- Strong strive for order and quality, be accurate
- Good organizational skills and strive for continues improvement of basic trade and risk support office operations (operative instructions)
- Good understanding of the set-up of a trading/commercial system (like SAP, Allegro, Open link), business process flow, from data entry up to the translation into reports and application of that knowledge to retrieve appropriate information in the trading/commercial system.
- Knowledge of SAP and SAP reporting tools is an asset.
- Microsoft Office: in particular good basic knowledge in Microsoft Office Excel
- Good communication skills: clear and consistent communication
- Flexible and excellent team player
- The BU Hydrocarbons & Energy is a multi-national team, therefore a certain level of cultural awareness and diplomacy is required (being sensitive to alternative viewpoints and cultural differences across Borealis).
Are you ready for the challenge?
If you are interested in this position, please apply online and attach your CV.
For more detailed information you can contact Karolien Vercauteren, Talent Acquistion Specialist, +32 472 46 62 03 or Koen Timmermans, Manager Group Financial Risk, +32 1547 9893.