Regas Settlement Lead
ago
Location
Doha, London
Hybrid
Salary
£150k+
Experience Level
Entry
Junior
Mid
Senior
Expert
Our Client
International Energy Company
SPECIALTY
Oil, Gas, LNG, Shipping
INDUSTRY
Energy
Company Size
10000+ Employees
Aubay's Take
Our client is an international energy company who covers the full spectrum of the oil and gas value chain. Our client is dedicated to attracting and hiring the highest calibre employees, from all around the world. As they scale their operations, they are committed to operating in a socially responsible manner, supporting, nurturing, and empowering their people, investing their resources to responsibly and safely contribute to the communities of which they are a part.
Benefits from Aubay
At Aubay UK, people are at the heart of our business. We offer a competitive remunerations package which includes a range of benefits. You will receive continuous support from our dedicated team of Talent Acquisition Specialists who will support your career development and success during your assignment with our client.
25 Days Annual Leave
Work From Home Opportunities
Pension Scheme
Opportunities to Work Directly with our Client
Training Opportunities
Discount Holidays at I'Aero Chalet
Role Summary
Aubay is seeking an experienced Regas Settlement Lead to support our client’s growing regas business. This specialist role is responsible for leading the end-to-end trade lifecycle, covering both receivables and payables related to regas operations. The successful candidate will oversee back-office regas operations, including reconciliations, invoicing, and settlements of regas transactions, terminal charges, and associated ancillary costs. The role requires expertise in EFET contracts and payment netting while ensuring seamless coordination with Operations, Financial Reporting, and Product Control teams. The ideal candidate should be adept at building a high-performing settlements function from the ground up, implementing industry best practices, and ensuring compliance with trading standards, regulatory requirements, and IFRS. This role involves significant travel to Doha, Qatar, with approximately 50% travel required (up to 30 days at a time). Further details regarding travel requirements will be discussed during the interview process.
Required Skills and Experience
- Minimum of 12 years of experience in commodity/energy trading settlements, specifically in regas operations.
- Strong understanding of trading accounting and product control functions, particularly their interactions with regas settlements.
- Expertise in EFET contracts and regas terminal agreements, including dynamic formulae for variable and fixed charges.
- Knowledge of IFRS reporting requirements for regas settlements and netting processes.
- Experience in trade finance and letters of credit (LC) is advantageous.
- Proven ability to establish, lead, and develop high-performing settlements teams.
- Strong analytical and problem-solving skills with a proactive approach to process optimisation.
- Experience with CTRM systems, SAP, and Microsoft Office tools.
- Excellent communication and interpersonal skills, with the ability to influence stakeholders at all levels.
- Ability to manage multiple priorities in a fast-paced, high-pressure environment.
- Strong track record of driving process improvements, automation, and operational efficiency.
Desired Skills and Experience
- Experience working in a dynamic trading environment with exposure to regulatory and compliance frameworks.
- Previous experience managing settlements for a high-volume regas trading business.
- Knowledge of debt collection best practices and escalation procedures.
- Familiarity with tax and regulatory requirements impacting regas settlements.
- Experience leading system implementations or process automation initiatives within a settlements function.
Key Role Responsibilities
- Establish and lead a regas settlements function, covering invoicing, reconciliation, and settlement of slots, storage and regas capacity utilisation, in-tank/send-out trades, and all associated terminal, storage, and pipeline costs.
- Recruit, train, and manage a team of approximately three staff to support settlement volumes.
- Develop and implement policies, procedures, and controls to ensure accurate and timely settlements with zero exceptions.
- Apply specialist knowledge of EFET contracts to execute net settlements in accordance with industry practices and IFRS requirements.
- Review and sign off new EFETs, terminal agreements, and amendments for settlement clauses.
- Ensure compliance with trading standards, regulatory and tax requirements, and financial control frameworks.
- Implement a structured receivable management process with a robust aged debt monitoring and escalation matrix.
- Work closely with the Financial Reporting team to ensure timely month-end operational activity recording within a strong control framework.
- Lead the reconciliation of CTRM against SAP to resolve and mitigate financial breaks.
- Develop and maintain strong working relationships with internal stakeholders, including Front Office, Operations, Product Control, Financial Reporting, Compliance, Treasury, Credit, Tax, and Legal.
- Build and maintain external relationships with trading counterparties, terminal operators, and regulators.
- Integrate new business activities into the settlements function, ensuring alignment with operational and financial controls.
- Identify and implement process improvements, automation opportunities, and best practices to enhance efficiency and performance.
- Support cash and working capital management objectives, as well as the cash forecasting process for Treasury.
- Lead regas settlements-related projects and initiatives.