UK Settlements Analyst- Contract

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).
• 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.

Life Assurance: We prioritise your peace of mind by offering life assurance coverage.

Income Protection: Our income protection benefits ensure that you have a safety net in place.

Pension Plan: We invest in your future by contributing to your pension plan.

Healthcare Cash Plan: You'll have access to a range of healthcare benefits.

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. We are committed to creating a diverse and inclusive business.

Business Unit: GEMS

Division: GEMS - BP UNITED KINGDOM

Legal Entity: INTERNATIONAL POWER LTD.

Contract Type: Fixed-Term

Job Type: Full - Time

Professional Experience: Skilled ( >3 experience <15 years)