We are representing a British oil trading firm that trades crude, products, biofuels and carbon globally, with over 400+ staff worldwide.
Credit Policy Oversight:
- Take ownership of the Group's credit policy, proposing policy amendments and ensuring continuous compliance.
Credit Committee Leadership:
- Conduct monthly Group Credit committee meetings, presenting counterparties and transactions for approval.
- Report on existing country/transaction/counterparty exposures and recommend improvements to the credit process when necessary.
Risk Committee Reporting:
- Keep the risk committee informed about key credit risk trends and portfolio performance.
Origination and Negotiation:
- Originate and negotiate open account agreements with suppliers.
- Propose open account limits by analyzing counterparty financial performance and providing credit reviews with limit recommendations.
Credit Exposure Management:
- Ensure that credit exposure monitoring remains effective, and counterparties stay within established limits.
Transaction Review and Approval:
- Review and approve transactions for credit risk, suggesting risk mitigants and alternative structures to reduce or eliminate credit risk.
- Monitor and mitigate performance risks associated with counterparties and transactions.
- Monitor commodity markets and systemic risks for changes that may impact the creditworthiness of counterparties and their risk appetite.
- Maintain relationships with other commodity trading credit and finance departments, negotiating reciprocal credit limits and legal documentation to facilitate trading.
- Engage closely with the Group's Global trading offices in Houston, Singapore, and Zeebrugge.
Trade Finance Collaboration:
- Collaborate with Trade Finance to reduce the need to post collateral, minimize leverage, and enhance Group profitability.
Credit Insurance Management:
- Manage credit insurance policies globally, including insuring third parties and self-insurance.
- Provide regular updates to key Underwriters on market trends and risk appetite.
Credit Insurance Strategy:
- Own the Group Credit insurance strategy, supplying information requested by underwriters throughout the year.
- Arrange policy renewals and extensions for acquisitions, negotiating pricing and terms with insurance brokers, and approving invoices.