Treasury Analyst - Tempo for 1 Year
VARO Energy is a dynamic, fast developing, integrated European downstream company launched in 2012. Our ambitious acquisition and integration strategy
created a major midstream energy company that cares for its customers across North-Western Europe. With a refining capacity of 176,000 bbl/day and a total storage capacity of almost 2,5mio m3 we own a solid asset base in our markets. Furthermore, we are proud to be an early mover in the reduction of harmful emissions, for instance by spearheading projects on Upstream Emission Reduction (UER). Such initiatives evidence our strong strategic focus on renewable energy sources. Leveraging our knowledge in this space will not only allow us to make a positive contribution to the energy transition, it will also enable us to further grow our market share. We will do so via our strong marketing organisation with activities in wholesale, retail and endconsumer deliveries. In combination with our sophisticated Supply & Trading organisation, we excel at unlocking value from our Integrated Fuels Value Chains (FVCs).
VARO Energy offers an exciting working environment which is characterised by strong team work, a flat organisation, a fast pace, entrepreneurial thinking & acting and having fun. Everybody has the chance to make a difference, develop a career and contribute to sustainable growth in an exciting and changing industry. VARO Energy is a partnership between the international energy and commodities company Vitol and the global asset manager The Carlyle Group.
The team is responsible for the supply of finished products and the marketing of the production of our refineries. Furthermore the hedging of our inventories and marketing activities. As a CA, you will be responsible for ensuring that our P&L and market exposure are accurate and reported. You will be interacting with Traders and physical operators on a daily basis. You will be part of a dynamic and entrepreneurial team that is a strong contributor to the company's profitability. This role is an excellent introduction to the exciting world of oil trading – you will learn about commodity trading, risk management, and oil refining.
Daily Cash positioning (GROUP)
o Reconciling / matching movements from cash management banks
o Producing daily Daily Outstanding Report (DOR) distributed to the BBF Agent
o Preparing the Vitol Open Credit Line report
o Relationship with Varo’s cash management banks for daily operations
o Preparation of weekly and monthly reporting for the Management (Treasury Dashboard / Fee reports, etc)
o Ad hoc investigations, reconciliations and reporting for corporate finance/cash management
Payments / Settlement (GROUP)
o Monitoring of Treasury payments
o Data integrity check of operational and non operational payments imported in the TMS to be reconciled and Coordination with Financial Operation teams
o Approval of all Group payments (Dual approval)
FX & Derivatives (GROUP)
o Monitor daily FX Settlement and confirm netting to FX Banks
o Back office for FX and derivatives settlement
Interco settlement / In House Bank (IHB) (GROUP)
o Managing the In-house Bank (IHB)(intercompany settlement) functionality
o managing all the set-ups in TMS (IT2) related to IHB activities (opening and closing of IHB accounts, IHB daily and monthly statements, IHB MT940s, Nominal ledger accounts and relationshipts), running IHB month-end closing activities in the TMS and resolving / fixing IHB related issues in TMS
Facilities Fees control (GROUP)
o Controlling and reconciling with the banks all fees related to the usage of our facilities (BBF, AGF, Ancillary Overdraft)
o Preparing monthly recharge overview for the fees to be recharged to the Varo entities
Bank accounts – Master data (GROUP)
o Monitoring and setting up bank accounts master data
o Checking and validating the new bank accont opening and closing requests in ERPs (JDE/Vista)
o Yearly review and update of Group Master Data Policy together (in collaboration with the Group Treasury Operations Manager&Internal Audit)