Contract Controller at COFCO International

Duties & Responsibilities

• Daily processing of purchase and sales contracts.
• Contract management (also receiving contract back from client)
• Managing open contracts.
• Matching Futures/Options traded on SAFEX and CBOT (Chicago Board of Trade) market to physical contracts.
• Updating pricing sheets for clients.
• Understanding all inputs inserted into TradeOne (ERP system).
• Doing consolidated position reporting (Inventory, Purchase and Sales, Futures, and Options)
• Trade and contract management for Farming Agents
• SAFEX deliveries and assignments – Trade and Invoice
• Financing – Repos – Trade and Invoice
• Contract Position Recon
• Handling of queries send to Contract-Desk.

Qualifications

• Qualification degree required in Agricultural Economics and/or Finance and/or Risk
• Agricultural Products Market Dealers Examination (SAFEX Exam)

Critical Skills:

• Fundamentals understanding of market terminals and trading environments.
• Grains industry exposure is beneficial.
• Strong in numbers and reconciliations.
• Excellent communication skills (written, and verbal) in Afrikaans and English.
• Excellent attention to detail and high a degree of accuracy.
• Problem solver who creates strategies to prevent, address and mitigate risk.
• Team player who is able to work independently.
• Ability to work well in a fast-paced professional office environment with multi-tasking skills.
• The ability to be proactive and work under pressure.
• Competency in Microsoft applications and web-based applications.
• Aptitude for continuous system enhancements and automation.
• Positive attitude.
• Critical thinker with emotional resilience to overcome obstacles.

Function:

• Timely and accurate trade capture in Trading One (position management software) on physical and derivatives
• Responsible for the daily maintenance and follow up of all positions (past and forward, including but not limited to MTM: Mark to Market valuation and P&L: Profit n Loss exposure)
• Responsible for daily maintenance of open positions (physical trade applications, paper trade allocations, wash out proposals, MtM curve rolling/modifications, market daily prices verification and upload)
• Provide support to traders on a daily basis in the preparation and verification of position reporting (exposure and PNL)
• Assure proper internal communication between desks throughout (Front Office, Operations, Product, Freight and Finance teams)
• Meet requests for ad hoc information and reporting

NEW DEALS - PROCESSING

• Trade Slip to Contract:
• Per Contract Type
• Per Strategy
• Per PGU: Profit Generating Unit
• Per Commodity
• Pricing of basis trades

POSITION MANAGEMENT

• Reconciling new deals to draft position
• Reconciling new deals to final position

CONTRACT ADMINISTRATION AND COST ACCRUALS ON CONTRACTS

• From Trade Slip to Contract:
• Processing of cost accruals at Contract Level
• Prepare contracts for sign off
• Issue system generated contracts
• Review physical contracts and positions
• Initiate washouts on under/over deliveries
• Report daily estimate P&L to Group: Head Office in Switzerland
• Data maintenance, Agents and Farming
• Maintain an accurate Farming environment for positions