Job description

Job Title: Senior Accountant – Oil Trading & Shipping

Employment Type: Full-time

Experience Required: 6+ years

Location: Jumeirah Lakes Towers (JLT), Dubai, UAE

Job Description

We are a growing oil trading and shipping company based in JLT, Dubai, seeking an experienced Senior Accountant to join our finance team. The role covers full-cycle accounting for physical oil trades and vessel operations, including deal accounting, demurrage, freight, and voyage P&L, alongside statutory reporting and UAE tax compliance. The successful candidate will report to the Finance Manager and work closely with the trading, operations, and chartering teams.

Key Responsibilities

• Manage the general ledger, journal entries, and month-end and year-end closing.
• Perform deal accounting for physical oil trades: cost of goods sold, inventory valuation, mark-to-market, and provisional vs. final pricing adjustments.
• Account for voyage costs, freight, bunkers, demurrage, and other shipping-related expenses; prepare voyage P&L reports.
• Reconcile broker, counterparty, and inspection statements; monitor open positions with the trading desk.
• Prepare monthly, quarterly, and annual financial statements in accordance with IFRS.
• Handle accounts payable and receivable, bank reconciliations, letters of credit, and intercompany transactions.
• Prepare and file VAT returns and support Corporate Tax compliance in line with FTA regulations.
• Assist with budgeting, forecasting, cash flow management, and working capital planning (including trade finance facilities).
• Coordinate with external auditors during interim and annual audits.
• Review and improve internal controls, accounting policies, and procedures.
• Mentor and review the work of junior accountants.

Required Qualifications

• Bachelor's degree in Accounting, Finance, or a related field.
• Professional certification (CPA, ACCA, CMA, or CA) preferred.
• Minimum 6 years of accounting experience, with at least 2 years in a senior role.
• Mandatory prior experience in oil trading, commodity trading, or shipping.
• Strong knowledge of IFRS, UAE VAT, and Corporate Tax.
• Familiarity with trade finance instruments (LCs, SBLCs, bank guarantees) and Incoterms.
• Proficiency in ERP and accounting systems (SAP, Oracle, Microsoft Dynamics, Zoho Books, QuickBooks, or similar) and advanced Excel; exposure to CTRM systems is an advantage.

Skills

• Strong analytical and problem-solving skills.
• High attention to detail and accuracy in a high-volume, high-value transaction environment.
• Ability to meet tight deadlines and manage multiple priorities.
• Excellent communication skills in English (Arabic is an advantage).
• Team leadership and mentoring capability.

Skills

Desired Skills

• Hands-on experience with CTRM systems (e.g., Openlink, Aspect, Eka, or similar)
• Knowledge of physical oil trade documentation (B/L, COA, SGS/inspection reports, LOI)
• Understanding of Incoterms 2020 (FOB, CIF, CFR, DAP) and their accounting implications
• Experience with letters of credit (LC), standby LCs, and bank guarantees
• Familiarity with shipping and chartering terms (voyage charter, time charter, laytime, demurrage)
• Exposure to hedging instruments and mark-to-market accounting for commodity derivatives
• Working knowledge of UAE Free Zone regulations (DMCC, JAFZA, or similar)
• Advanced Excel skills (pivot tables, VLOOKUP/XLOOKUP, Power Query, macros)
• Experience with Zoho Books or QuickBooks Online in a multi-entity setup
• Ability to work with multiple currencies and manage FX exposure
• Strong reporting skills — building management dashboards and KPI reports
• Prior experience in a DMCC-registered or JLT-based trading company
• Experience mentoring or supervising a small finance team