Head of Credit Risk

Location London
Discipline: Commodities
Job type: Permanent
Contact name: Freddie Ricks

Contact email: freddie.ricks@venturesearch.com
Job ref: 1915
Published: 23 days ago
Head of Credit Risk

We are representing a British oil trading firm that trades crude, products, biofuels and carbon globally, with over 400+ staff worldwide.


  1. Credit Policy Oversight:

    • Take ownership of the Group's credit policy, proposing policy amendments and ensuring continuous compliance.
  2. 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.
  3. Risk Committee Reporting:

    • Keep the risk committee informed about key credit risk trends and portfolio performance.
  4. 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.
  5. Credit Exposure Management:

    • Ensure that credit exposure monitoring remains effective, and counterparties stay within established limits.
  6. 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.
  7. Market Monitoring:

    • Monitor commodity markets and systemic risks for changes that may impact the creditworthiness of counterparties and their risk appetite.
  8. Stakeholder Relationships:

    • 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.
  9. Trade Finance Collaboration:

    • Collaborate with Trade Finance to reduce the need to post collateral, minimize leverage, and enhance Group profitability.
  10. 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.
  11. 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.