Exciting Opportunity: UK Settlements Analyst (6 Month Contract) - LONDON
About ENGIE UK
ENGIE, one of the biggest energy firms in the world, is a global leader in decarbonisation and committed to delivering the energy transition through the alliance of molecules and electrons.
It’s been a leader in the UK energy market for more than 20 years. Our team of 1,200 colleagues work across the energy value chain, procuring, producing, storing, transporting and distributing energy, while providing decarbonisation solutions for regional authorities, companies and individuals. We’re united by a shared purpose to champion zero carbon energy and positively contribute to the energy transition.
Purpose of the job:
The Settlements Analyst is responsible for working with colleagues to maintain the Back Office function for EUM’s UK trading activities. This includes the development, maintenance and use of an effective system for settlement, payment, validation, and provision of month end reporting information. The Settlements Analyst is also expected to contribute to developing and maintaining a reputation for the Back Office as a provider of accurate, efficient and timely information to its internal and external stakeholders, which include Finance teams within ENGIE, counterparty Back Offices, Risk Management teams and Group Reporting.
The team provides full Back Office services for:
- commodities (including Power, Gas, Foreign Exchange, Emissions, Renewables/green products such as REGOs and RGGOs)
- instruments (including Forwards, Futures, Financial Commodity Swaps, Financial FX Swaps) within UK and European Traded Markets.
- Standard and complex contract structures including GTMA, NBP, EFET, ISDA, Exchange Rules, imbalances with TSOs and Power Purchase Agreements (PPAs).
Key Responsibilities:
- Validation and Confirmation of transactions across a wide range of commodity markets and with trading counterparties (internal and external) for all UK trading activities. This includes trades executed on exchanges and Over the Counter (OTC) directly with counterparties under various contract structures. Maintain a system for tracking outstanding confirmations and liaise with counterparties to ensure all outstanding confirmations are received.
- Invoicing: Accurate preparation and validation of commodity invoices, associated fees (including broker fees, gas shipping and transportation charges) and some ancillary services.
- Daily cash margining process: agree daily cash margin (also referred to as cash collateral) exposures with trading counterparties. This is a time sensitive process that involves daily payments by set deadlines and being proactive in following up if there are late responses and/or mismatches.
- Query Resolution: Have a thorough understanding of commodities and contract structures traded to successfully resolve queries from internal and external counterparties.
- Compliance control: Review deals from a compliance and control point of view and flag up for corrective action (e.g. errors and breaches by traders)
- Financial Control: Liaise with colleagues in the wider business to ensure cash settlement occurs and follow up late payments with counterparties where necessary.
- Internal Control, Best Practise and Audit: Develop and maintain clear and logical administrative processes with efficient audit trails. Assist with audit queries as and when they arise. Strive to develop the Back Office as an area of “Best Practise”.
- Financial and Trading Reporting: Ensure all required information is provided under agreed deadlines to various users including:
- Finance teams - for cash forecasting, gross margin reporting and month end reporting
- Risk Management- for trading reports
- Wider areas of the business for ad-hoc analysis
- Compliance with Contractual Terms: Ensure all Back Office processes are carried out in accordance with contractual obligations.
- Regulatory reporting: support Back Office team with regulatory reporting (REMIT, EMIR etc)
- Various Ad-Hoc Tasks, including:
- provide knowledge and support during Trade System improvement projects.
- propose and participate in improving processes and tools (e.g., automate manual tasks, update and improve existing tools etc.)
- Back up cover for the team – provide cover for the Back Office team when colleagues are out of the office (e.g., holiday/sick leave cover)
Qualifications & Experience:
- At least 2 years’ experience in a Back Office environment within the UK/European energy industry
- Experience with an ETRM system for the energy industry such as Orchestrade (OT) is a plus
- Strong knowledge of MS Office (candidates with coding skills will be considered favourably, e.g., VBA, Python, SQL, Power BI, advanced MS Excel etc)
- Experience in back office process automation and digitalization.
- Experience in large scale systems projects / or equivalent project work.
- Awareness of UK VAT rules (not essential but desirable)
What benefits we offer?
Flexible Working
We understand the importance of work-life balance and recognise that everyone is striving to find the perfect one between work and home life. That's why we offer a hybrid working model that combines the convenience of remote work with the benefits of collaborating in a professional office environment. You'll have the flexibility to work from home part of the time, allowing you to optimise your productivity while enjoying a comfortable work setup.
Bonus Programme
We reward your hard work and dedication with a competitive bonus programme that recognises and values your contributions. Your efforts are appreciated and directly reflected in your financial rewards.
Life Assurance
We prioritise your peace of mind by offering life assurance coverage. You can feel confident knowing that your loved ones will be protected in the event of the unexpected.
Income Protection
Your financial security matters to us. Our income protection benefits ensure that you have a safety net in place, providing a valuable source of income if you're unable to work due to illness or injury.
Employer Pension Contribution
We invest in your future by contributing to your pension plan. You can enjoy the confidence and peace of mind that comes with knowing that you're building a solid foundation for your retirement.
Healthcare Cash Plan
Your well-being matters to us, which is why we provide a healthcare cash plan. You'll have access to a range of healthcare benefits, including reimbursement for medical expenses, dental and optical care, and more. Take care of yourself and your family's health without financial worries.
myENGIE
We offer a range of flexible benefits to employees alongside hundreds of retail and lifestyle discounts through myENGIE.
Diverse Employer
ENGIE’s purpose is to accelerate the transition towards a carbon-neutral economy, through reduced energy consumption and more environmentally friendly solutions, and we know that the most successful businesses are the most sustainable ones. Diversity, equity and inclusion is key to sustainability and success and our goal is to attract, engage and retain the best talent, bringing the best thinking to our business from inside and outside of our industry. Our ambition is to make sure everyone at ENGIE feels valued, respected and included. We know that diverse teams have more creativity, imagination, innovation and problem solving capabilities, so we are committed to tackling inequalities and creating a diverse and inclusive business.
Equal Opportunity
We're an equal opportunity employer, which means we'll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. During the application process you will be asked to complete an equality questionnaire on a voluntary basis and any data we collect will be treated confidentially and used for evaluation purposes only. This helps us understand our audience so we can make sure we are doing everything we can to attract a diverse range of people and ensure our recruitment processes are fair and inclusive.
