East Receivables Manager

Profile

, Singapore

Job Family Group:

Finance

Worker Type:

Regular

Posting Start Date:

January 4, 2022

Business unit:

Finance

Experience Level:

Experienced Professionals

Job Description:

Where you fit in

You will be the primary subject matter expert within Global Credit with respect to knowledge of East Crude, Products, Freight, LNG, Gas & Power 3rd party overdue receivables, status and actions required to resolve for the respectful businesses/commodity under T&S (Trading & Supply).

This includes maintaining consistent contact with finance operations, traders, regional team leads, operational support, finance managers, and legal to drive desired outcomes. Consistently provide vision and recommend/deliver business strategies up to Global Head of Receivables Risk Management which will increase efficiencies and the effectiveness of collection efforts to support long term sustainable performance results.

What’s the role?

As East Receivables Manager, your main responsibilities include:


Proactively managing a multi-billion global 3rd party receivables portfolio for East Crude, Products, LNG, Freight, Gas & Power trading and supply.
Continually reviewing KPIs and global aged receivables data to drive desired results, review, assess and submit provisions for doubtful debts or write offs to appropriate finance managers per MOA, ensure proper collateral utilization when delinquencies occur.
Coordinating with respective underwriting analysts for actions to reduce/amend credit terms or tenors in response to payment issues liaise with Shell legal for bankruptcy proof of claim submittals and status of existing claims, initiate external attorney placements assuring proper internal approvals and legal remedies are utilized to recover overdue receivables timely.
Appropriately escalating/communicating knowledge of customers which threaten non-payment or potential for default to leadership including respective finance operations management, finance managers, commercial management and legal.
Driving global targets (Reduction of overdue values/count, Overdue %, Bad Debt %, WADD) to ensure we are maximizing cash flows and minimizing bad debts for business growth.
Producing global performance reports/dashboards to stakeholders, finance management and operations to provide transparency and maintain a consistent pulse of the Trading and Supply receivable health as well as concerns.


On a wider level, you can look forward to a role that will be accountable for:


Acting as primary focal point with respect to global trading & supply receivables to all commercial and financial stakeholders for the East Trading portfolio of businesses including VP/GMs of Crude & Products Trading and subordinate Finance Managers.
Connectivity with FO/Commercial/Finance/Demurrage/Credit to ensure synchronized strategies; provide guidance to relevant analysts to ensure zero gaps, timely collection of receivables and ultimately, payment driven to terms:
Coordinate the activities required for dispute resolution to cancel and re-issue invoices timely.
Assist/Guide/Train Chennai FO analysts in understanding the reasons for the overdue, and in wording e-mails to be sent to counterparties.
Monitor items that are approaching time bar and discuss appropriate actions with the desk.
Pursue a selected number of the most difficult counterparties directly, i.e., those requiring more intricate knowledge interfacing with FMs and Commercial Credit Managers.
Undertake monthly desk reviews to ensure desk leads/RTLs are aware of delinquent issues and taking appropriate actions on overdues in a timely fashion; facilitate links with Legal, Tax, Compliance and Operations to drive recovery.
Leverage best practices across different portfolios & countries re: successful collection strategies.
Ensure adherence with local laws & regulations, including training FO staff where necessary.
Co-ordinate with Underwriting on any urgent need to reduce/amend credit terms in response to evidence of delayed payment, and implications for counterparty’s fundamental creditworthiness.
Provide routine presentations with respect to RRM results/strategies/vision to Credit/Risk peers, FiB, Demurrage and Commercial.
Overdue exposure monitoring:
Analyze on weekly basis the existing Top 20 highest overdue/other reporting from FO, provide feedback on & inquiries into the new/recurring/legacy overdues to drive appropriate recovery strategies and work with FO to amend or streamline existing processes that yield improved results.
Reporting:
In depth Monthly/Quarterly reporting of overdues by VP/GM/RTL, trends, highlight concerns and/or challenges related to overdues (Top 20, RPM PPT’s, Credit Committee slide decks, Doubtful debt provisions/reversals, write offs, as well as ad hoc requests from stakeholders regarding receivables exposures tied to specific businesses or desks).
Review & continuously suggest improvements to KPI reporting to drive desired results which reduce overdue exposures.
Present results/concerns to various stakeholders within the business through reporting and presentations in meeting sessions.
Security Management/Utilization:
Checks with Collateral management for LC’s or cash available as potential leverage/resolution to overdue receivables based upon contractual language.
Bad Debt Management:
Construct promissory notes, payment plans or other structured solutions, working alongside relevant Commercial Credit Managers, to assist customers experiencing short term cash flow issues to ultimately obtain funding and avoid a bad debt.
Produce contractual Notices of Pending default to allow for Shell to legally terminate if necessary.
Liaise with legal, finance, contracts, the desk and the counterparty to assist in the submission of claim exposures and track status in bankruptcy cases/disputes pursued through the courts.
Review, assess and submit provisions for doubtful debts (SOX Control) and write-off requests for approval by Business owners, FMs and Accounting Operations based upon age/viability of receivable collection. Work with FO and Financial Accounting to ensure appropriate bookings are made in line with policy, and that bad debts flow down to the P&L of the relevant desk.
Perform monthly reconciliation of bad debt provision balances to question completeness, value accuracy as per accounting standards, sufficient documentation as support, confirmed expected partial/full recovery in future.
Complete ad hoc request and special projects as assigned


What we need from you

We’re keen to hear from professionals ideally having:


Degree in Accountancy or Finance, ACCA is an advantage
At least 5 years’ relevant experience in full-fledged Accounts Receivable (AR), preferably in the oil & gas / commodity trading or banking industry
Experience with SAP system
Significant experience in Credit Risk and Analysis, Corporate Bankruptcy and Debt Recovery, or other relevant related functionalities
Good communication and interpersonal skills


Company description

Shell is one the largest foreign investors in Singapore and began operations in 1891. Today, we have more than 3,200 employees in Singapore alone. The Pulau Bukom Manufacturing Site today is the largest Shell refinery in the world in terms of crude distillation capacity, which makes Singapore a key regional supply and trading centre for Shell in the East. Singapore is the largest petrochemical production and export centre in the Asia Pacific region. Shell Jurong Island (SJI) manufactures petrochemicals to meet the fast-growing demand for these products in the region. We also have one of the largest single-branded retail networks in Singapore, providing customers with a wide range of quality products and services. When you join Shell in Singapore, you can count on our commitment to help you thrive and propel your career by means of our industry-leading development programme and our available and unrivalled pool of local and global experts. Our numerous global and local skill pools as well as our diversity are key to our success and continuing innovation.

An innovative place to work

There’s never been a more exciting time to work at Shell. Everyone here is helping solve one of the biggest challenges facing the world today: bringing the benefits of energy to everyone on the planet, whilst managing the risks of climate change.

Join us and you’ll be adding your talent and imagination to a business with the ambition to shape the future – whether by investing in renewables, exploring new ways to store energy, or developing technology that helps the world to use energy more efficiently, everyone at Shell does their part.

An inclusive place to work

To power progress together, we need to attract and develop the brightest minds and make sure every voice is heard. Here are just some of the ways we are nurturing an inclusive environment – one where you can express your ideas, extend your skills, and reach your potential.


We’re creating a space where people with disabilities can excel through transparent recruitment process, workplace adjustments and ongoing support in their roles. Feel free to let us know about your circumstances when you apply, and we’ll take it from there.
We’re closing the gender gap – whether that’s through action on equal pay or by enabling more women to reach senior roles in engineering and technology.
We’re striving to be a pioneer of an inclusive and diverse workplace, promoting equality for employees regardless of sexual orientation or gender identity.
We consider ourselves a flexible employer and want to support you finding the right balance. We encourage you to discuss this with us in your application.


A rewarding place to work

Combine our creative, collaborative environment and global operations with an impressive range of benefits and joining Shell becomes an inspired career choice.

We’re huge advocates for career development. We’ll encourage you to try new roles and experience new settings. By pushing people to reach their potential, we frequently help them find skills they never knew they had, or make career moves they never thought possible.

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DISCLAIMER:

Please note: We occasionally amend or withdraw Shell jobs and reserve the right to do so at any time, including prior to the advertised closing date. Before applying, you are advised to read our data protection policy. This policy describes the processing that may be associated with your personal data and informs you that your personal data may be transferred to Royal Dutch/Shell Group companies around the world. The Shell Group and its approved recruitment consultants will never ask you for a fee to process or consider your application for a career with Shell. Anyone who demands such a fee is not an authorised Shell representative and you are strongly advised to refuse any such demand. Shell is an Equal Opportunity Employer.

According to the United Nations, the global population could increase to more than 10 billion people. A key role for society – and for Shell – is to find ways to meet the growing demand for energy, with less carbon emissions. We need people who dare to think differently – to take part in developing tomorrow’s energy solutions today.

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