Commodity Accountant at RCL Foods

Job Description    

• RCL FOODS is seeking a skilled Commodity Accountant to join our BSO Finance Team. The role will be reporting to the Finance Manager.
• RCL FOODS is looking for an efficient individual that will be responsible for ensuring that a sound creditors function is maintained and that the company complies with all creditor’s standards as well as month end close process on derivatives. The successful incumbent will need to be strong analytically and be in a position to solve queries, payments, discounts, reconciliations and closing contracts. Experience or understanding of the commodities industry would be advantageous.

Minimum Requirements    

• Degree in Accounting is preferred
• Minimum 3 years’ experience in a similar role in a manufacturing environment
• Financial accounting principles and practices
• Commodity characteristics
• Working knowledge of Accounting Software packages eg. Syspro Working knowledge on MS Office/Excel.

Duties & Responsibilities    
Creditors Management

• Check and sign weighbridges for Raw Materials (Oil, Soya, Sorghum, Peanuts, Maize) and ensure that loads are captured on both Agrigrain and Syspro (excel spreadsheet)
• Check & sign all payments for Raw Materials and check and sign all Raw Material creditors reconciliations
• Assist (when required) staff with resolving queries relating to creditors, storage, SAGIS reporting
• Responsible for obtaining and updating creditors details onto Syspro and Agrigrain – includes loading new contracts onto Agrigrain, loading new vendors and\or Supplier detail changes onto Syspro and Agrigrain

Monthly reporting

• Ensure all GRN’s are correct on report – make provision if stock received and not on report
• Post adjustments / Rounding’s /to payments on Syspro
• Purchases balance report per month, product, contract /Contract balances report

Funding

• Prepare and distribute daily cash funding requirements for SAFEX and Raw Material payments and withdrawals for broker accounts

Journals and recons

• Assist in the preparation of journals:
• Calculation of forex gains and loss between FEC and actual payment to foreign supplier
• Preparation of general ledger recons o Preparation of schedules for recons and assist in the preparation of GL B/S recons.
• Monitoring of GR/IR account
• Open position summary for open derivative contracts

Mark to market movements on derivative broker accounts:

• Ensure that Safex/Yield X recons are captured daily
• Review capturing and ensure that cumulative mark to market balances per position and call/margin accounts agrees to the broker statement
• Query all differences between actual funding/withdrawal or position movements with broker
• All daily funding/withdrawals have been allocated accurately on the recon
• Prepare monthly journal of movements for each broker account
• Roll forward closing balances of open positions and call/margin accounts to the next month
• Review daily deals on broker account and prepare schedule of physical deliveries and spread contracts. Assist in the calculation of profit/loss on physical deliveries and spread contracts.