Paper Operator
Vitol
Full-time
On-site
Houston Texas United States
Vitol
Company Description
Vitol is a leader in energy and commodities. Vitol produces, manages and delivers energy and commodities to consumers and industry worldwide. In addition to its primary business of trading, Vitol is invested in infrastructure globally, with $10+billion invested in long-term assets.
Vitol’s customers include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves its customers from some 40 offices worldwide. Revenues in 2023 were $400bn.
For more information: vitol.com
Job Description
The Paper Ops team is responsible for reconciling, validating and processing Vitol’s financial trading activity. The Paper Operator’s primary role is to mitigate risk surrounding Vitol’s cleared financial trading activity. This entails reconciling exchange traded financial activity to clearing statements, working with Treasury to forecast and settle margin activity, and understanding settlement procedures for financial markets. The Paper Operator will work closely with Accounting in performing monthly duties such as cost control and budget review and booking relevant journal entries. In addition, the Paper Operator will work closely with the commercial team to support them in trade reconciliation on a daily basis. This role performs critical daily and monthly controls. Thus, it’s imperative the candidate recognizes this risk and exhibits strong analytical skills and possesses attention to detail to perform the duties as expected.
Specific job duties will include:
Confirming margins daily with FCMs, including using forecasting tools to calculate Variation Margin and monitoring IM requirements
Reconciling Vitol’s cleared paper trades daily to our FCM clearing statements
Reconciling NGX daily trades
Managing trade and position reconciliation for all Securities, Equities and Bonds
Reporting and escalating discrepancies in financial trading activity timely with appropriate follow up
Budgeting, monitoring and invoicing Clearing and Exchange Fees
Invoicing all Futures, Swaps, and Options PNL and Premiums
Processing financial settlements for bilateral financial trading activity
Calculating Futures Accruals and booking monthly journal entries related to financial trading accruals
Analyzing mark to market differences and reporting when necessary
Overseeing the First Trading Day Control in Houston which triggers month end batch reporting
Facilitating Market Access requests and new trader setups on exchanges
Actively seeking process efficiencies and engaging with the team to action them
Providing information for Compliance related requests
Working actively with Treasury in forecasting large payments as they relate to financial positions that physically deliver
Other duties as assigned
Qualifications
Bachelor's degree in Accounting, Finance, or Business related field.
1+ years of experience in Accounting, Finance, or Auditing function
Direct experience with financial trading reconciliation and analysis strongly preferred
Familiarity and experience with general accounting concepts and journal entries
Attention to detail
Organizational skills
Strong communication skills, both internally within the team and externally
Sense of ownership and responsibility
Proficiency in Excel (VBA / developer experience a plus)
Additional Information
Work Environment
This job operates in a professional office environment. Because of the collaborative, fast-paced, and high energy nature of our business, Vitol requires team members to work from our fully-equipped office
All your information will be kept confidential according to EEO guidelines.
Vitol is a leader in energy and commodities. Vitol produces, manages and delivers energy and commodities to consumers and industry worldwide. In addition to its primary business of trading, Vitol is invested in infrastructure globally, with $10+billion invested in long-term assets.
Vitol’s customers include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves its customers from some 40 offices worldwide. Revenues in 2023 were $400bn.
For more information: vitol.com
Job Description
The Paper Ops team is responsible for reconciling, validating and processing Vitol’s financial trading activity. The Paper Operator’s primary role is to mitigate risk surrounding Vitol’s cleared financial trading activity. This entails reconciling exchange traded financial activity to clearing statements, working with Treasury to forecast and settle margin activity, and understanding settlement procedures for financial markets. The Paper Operator will work closely with Accounting in performing monthly duties such as cost control and budget review and booking relevant journal entries. In addition, the Paper Operator will work closely with the commercial team to support them in trade reconciliation on a daily basis. This role performs critical daily and monthly controls. Thus, it’s imperative the candidate recognizes this risk and exhibits strong analytical skills and possesses attention to detail to perform the duties as expected.
Specific job duties will include:
Confirming margins daily with FCMs, including using forecasting tools to calculate Variation Margin and monitoring IM requirements
Reconciling Vitol’s cleared paper trades daily to our FCM clearing statements
Reconciling NGX daily trades
Managing trade and position reconciliation for all Securities, Equities and Bonds
Reporting and escalating discrepancies in financial trading activity timely with appropriate follow up
Budgeting, monitoring and invoicing Clearing and Exchange Fees
Invoicing all Futures, Swaps, and Options PNL and Premiums
Processing financial settlements for bilateral financial trading activity
Calculating Futures Accruals and booking monthly journal entries related to financial trading accruals
Analyzing mark to market differences and reporting when necessary
Overseeing the First Trading Day Control in Houston which triggers month end batch reporting
Facilitating Market Access requests and new trader setups on exchanges
Actively seeking process efficiencies and engaging with the team to action them
Providing information for Compliance related requests
Working actively with Treasury in forecasting large payments as they relate to financial positions that physically deliver
Other duties as assigned
Qualifications
Bachelor's degree in Accounting, Finance, or Business related field.
1+ years of experience in Accounting, Finance, or Auditing function
Direct experience with financial trading reconciliation and analysis strongly preferred
Familiarity and experience with general accounting concepts and journal entries
Attention to detail
Organizational skills
Strong communication skills, both internally within the team and externally
Sense of ownership and responsibility
Proficiency in Excel (VBA / developer experience a plus)
Additional Information
Work Environment
This job operates in a professional office environment. Because of the collaborative, fast-paced, and high energy nature of our business, Vitol requires team members to work from our fully-equipped office
All your information will be kept confidential according to EEO guidelines.