Oil Distribution & Trading Company

Location: Singapore
Employment Type: Full-Time
Reporting To: Managing Director / Group Finance Director
Industry: Oil & Petroleum Distribution / Trading

About the Company

We are an established oil distribution and trading company involved in the supply and distribution of petroleum products to commercial and industrial customers. As part of our continued growth, we are seeking an experienced and commercially minded Financial Controller to oversee the company's financial management, accounting operations, financial reporting and internal controls.

This is a key management position suited to a hands-on finance professional who is comfortable working in a fast-paced trading and distribution environment and who can provide management with meaningful financial and commercial insights.

Key Responsibilities

1. Financial Management & Reporting

• Take overall responsibility for the company's accounting and financial management functions.
• Prepare accurate and timely monthly, quarterly and annual management accounts.
• Prepare financial statements, cash-flow reports, budgets and financial forecasts.
• Provide management with financial analysis, business performance reports and recommendations.
• Monitor profitability by product, customer, supplier and business segment.
• Analyse gross margins, operating costs, working capital and overall business performance.

2. Oil Trading & Distribution Finance

• Monitor the financial performance of oil and petroleum product trading activities.
• Review purchase costs, selling prices, margins, transportation costs and other related expenses.
• Monitor inventory valuation and stock movements and reconcile physical inventory with accounting records.
• Analyse trading margins and identify significant price or margin variances.
• Work closely with the operations and sales teams to ensure proper financial controls over purchases, sales and deliveries.
• Monitor customer credit exposure and outstanding receivables.

3. Cash Flow & Working Capital Management

• Take responsibility for short- and medium-term cash-flow planning.
• Monitor daily cash positions and anticipated funding requirements.
• Manage working capital, including trade receivables, trade payables and inventory.
• Monitor customer collections and payment performance.
• Work with banks on banking facilities, trade financing, overdrafts and other credit facilities where required.
• Ensure sufficient liquidity to support day-to-day trading operations.

4. Budgeting & Business Planning

• Lead the annual budgeting and forecasting process.
• Prepare financial models and cash-flow projections for management decision-making.
• Compare actual performance against budget and provide variance analysis.
• Identify areas for cost reduction and improvement in operating efficiency.
• Assist management in evaluating new business opportunities, investments and expansion plans.

5. Accounting & Compliance

• Oversee the full set of accounts and ensure proper accounting records are maintained.
• Ensure timely closing of monthly accounts.
• Ensure compliance with applicable Singapore Financial Reporting Standards, tax requirements and statutory obligations.
• Liaise with external auditors, tax advisors, banks and other professional advisors.
• Ensure GST reporting and other statutory submissions are properly managed.
• Establish and maintain appropriate accounting policies and procedures.

6. Internal Controls & Risk Management

• Develop and strengthen financial controls and approval procedures.
• Review purchasing, sales, credit, payment and inventory controls.
• Identify potential financial, credit, operational and fraud risks.
• Implement appropriate segregation of duties and authorisation controls.
• Ensure proper documentation and audit trails for significant transactions.
• Monitor compliance with company policies and delegated authority limits.

7. Credit Control

• Establish and monitor customer credit limits and payment terms.
• Review customer creditworthiness and outstanding exposures.
• Monitor overdue accounts and work with the sales team on collection matters.
• Recommend appropriate credit controls where customers exceed approved limits.
• Highlight significant credit risks to management.

8. Management & Business Support

• Act as a strategic finance partner to the Managing Director and management team.
• Provide timely financial information to support commercial decisions.
• Translate financial data into practical business recommendations.
• Challenge assumptions and highlight areas requiring management attention.
• Participate in business planning, negotiations and commercial discussions where financial input is required.

Requirements

Education & Experience

• Degree in Accounting, Finance, Business or a related discipline.
• Professional accounting qualification such as CA, ACCA, CPA or equivalent would be advantageous.
• Minimum 5 years of relevant finance/accounting experience, preferably with experience in oil, petroleum, commodity trading, logistics, distribution or related industries.
• Experience in a Financial Controller, Finance Manager, Finance Director or similar senior finance position.
• Strong understanding of management accounting, financial reporting, cash-flow management and internal controls.
• Experience managing full sets of accounts and working with external auditors and tax advisors.

Industry Experience
Experience in one or more of the following will be highly advantageous:

• Oil and petroleum distribution
• Fuel trading
• Commodity trading
• Energy or logistics
• Wholesale distribution
• Inventory-intensive businesses
• Trade financing and banking facilities

Key Skills

• Strong financial and commercial acumen
• Excellent analytical and problem-solving skills
• Strong understanding of cash flow and working capital
• Excellent Excel and financial modelling skills
• Good knowledge of accounting systems/ERP systems
• Strong attention to detail and accuracy
• Ability to work independently and meet reporting deadlines
• Strong communication and interpersonal skills
• Ability to work closely with senior management and operational teams
• High level of integrity, confidentiality and professional judgement

What We Offer

• Senior management position with significant responsibility
• Opportunity to work closely with company leadership
• Exposure to oil distribution, trading and commercial operations
• Competitive remuneration commensurate with experience
• Performance-based incentives may be considered
• Opportunity for career progression as the business expands

How to Apply

Interested candidates are invited to submit their CV together with their current and expected salary and a brief summary of relevant experience in oil trading, petroleum distribution, commodity trading or other related industries.

Only shortlisted candidates will be contacted.