Deal Accountant

Vitol is a leader in energy and commodities. Vitol produces, manages and delivers energy and commodities to consumers and industry worldwide. In addition to its primary business of trading, Vitol is invested in infrastructure globally, with $10+billion invested in long-term assets.

Vitol’s customers include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves its customers from some 40 offices worldwide. Revenues in 2024 were $331bn.

ATB is owned by Vitol and it is the 7th crude refinery plant in Malaysia. Located at Pontian, Johor Darul Ta'zim, the 32kbpd refinery, is well-positioned to supply both the local bunkering and growing energy markets across the region.

The refinery neighbours VTTI-owned ATB terminal which includes over 1m m3 storage as well as 6 onsite jetties and can accommodate any size or type of tanker. This unique positioning enables us to offer our customers a secure and fully integrated supply chain, from production and blending of quality marine fuels, to storage and delivery.

Designed to be highly energy-efficient, the refinery deploys state-of-the-art technology including a distillation unit with a prefractionation column.

About the role

We are seeking a detail-oriented and analytical Deal Accountant to join our Accounts team. You will be responsible for the accounting control of an assigned portfolio of commodity trading transactions, ensuring that revenues, costs and profits are complete, accurate and recognised in the correct accounting period.

Working closely with commercial, operations, trade settlements and finance teams, you will support the financial closing process, investigate accounting discrepancies and maintain the accuracy of trading-related financial information.

Key responsibilities

Deal accounting and cost control

• Review sales revenue, purchase costs and associated costs, such as freight, storage and handling, to ensure accurate recording and allocation to the relevant transactions.
• Review cost estimates, investigate significant differences between estimated and actual costs, and follow up on outstanding or aged cost balances.
• Monitor transactions through to accounting completion, working with relevant teams to resolve outstanding pricing, quantity, transfer-of-risk and cost issues.
• Perform transaction closure and, where necessary, controlled reopening in the trading system in accordance with established procedures.
• Investigate accounting exceptions and coordinate timely resolution with the relevant teams.

Financial closing and profit reconciliation

• Perform assigned month-end, quarter-end and year-end closing activities within reporting deadlines.
• Review accruals for revenues and costs that have not yet been invoiced, ensuring recognition in the correct accounting period.
• Prepare and review accounting adjustments and reclassifications relating to cargoes in transit, deferred costs, prepayments, borrowed commodities and other trading-related balances.
• Reconcile realised trading profit and loss (P&L) recorded in the trading system with the accounting system, investigating and explaining differences and coordinating any necessary corrections.
• Perform foreign-exchange revaluations and other month-end checks in collaboration with financial control and accounting teams.

Inventory and intercompany accounting

• Review the accounting for commodities held in storage or in transit, including cost allocation, valuation and supporting reconciliations.
• Review and process inventory valuation adjustments, investigating missing costs, valuation anomalies and other exceptions.
• Review transactions and cost recharges between group companies, ensuring consistency of amounts, accounting periods and cost allocation.
• Work with colleagues in other offices to investigate and resolve intercompany discrepancies.

Reconciliations, reporting and process improvement

• Where relevant to the assigned portfolio, reconcile broker statements and clearing accounts, including balances and outstanding trading positions.
• Prepare supporting schedules, reconciliations and explanations for financial reporting, audit and tax requirements.
• Maintain clear supporting documentation and an effective audit trail for accounting entries and adjustments.
• Work with system support teams to investigate and resolve issues affecting accounting accuracy or financial closing.
• Identify opportunities to strengthen controls, streamline reconciliations and reduce manual processing, and support testing of system enhancements.

• A degree in Accounting or an equivalent qualification, or a recognised professional accounting qualification such as CA, ACCA or CPA.
• At least five years of experience in accounting or auditing, with a good understanding of International Financial Reporting Standards (IFRS) and/or Singapore Financial Reporting Standards (SFRS).
• Strong understanding of accruals, reconciliations, accounting cut-off and balance sheet classification.
• Familiarity with physical commodity transactions, inventory accounting or financial derivatives would be an advantage.
• Strong Excel skills and the ability to work effectively with large datasets and integrated trading and accounting systems.

Personal attributes

• Strong analytical and investigative skills, with close attention to detail.
• A proactive approach and ownership of issues through to resolution.
• Clear communication skills and the ability to collaborate across teams and offices.
• Ability to manage competing priorities and deliver accurate work within tight financial closing deadlines.

Only successful candidates will be contacted.