UK Settlement Analyst

NEW OPPORTUNITY: UK Settlements Analyst – London

About Us:

ENGIE is a leader in sustainable energy supply and services. We are united by our purpose of delivering the energy transition and leaving the legacy of a greener future for everyone.

Our purpose is to accelerate the transition towards a net zero economy through reduced energy consumption and more environmentally friendly solutions, reconciling economic performance with a positive impact on people and the planet.

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 Accountabilities:

• 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)

Experience and qualifications:

• 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)

Skills and behavioural capabilities:

• Self-driven, proactive, and able to work without direct supervision at times
• Ability to work to tight deadlines and under pressure
• Focus on automation and eliminating manual/inefficient processes.
• Demonstrated ability to work effectively in a small team environment
• Numerical, with high attention to detail
• Clear and confident communication style, with customer focus.
• Outcome and solution focussed.
• Adaptable to change

Why ENGIE UK?

• Opportunity to make a significant impact on the future of energy supply.
• Collaborative and innovative work environment.
• Bonus programme.
• Healthcare cash plan.
• Employer pension contribution.
• Commitment to professional development and growth.

How to Apply

If you are passionate about operational excellence and eager to contribute to the energy sector, we want to hear from you. At ENGIE UK, we value diversity and are committed to creating an inclusive environment for all employees. Even if you do not meet all the requirements listed, we encourage you to apply. Your unique skills and experiences could be just what we need.

To apply, please submit your CV detailing your experience and why you are the ideal candidate for this role.