Responsible for supervising and managing the operational activities of the team consistent with Credit Policies and Standards through supporting the management of policies and controls, managing complex and escalated operational issues regarding Credit Risk, and perform in-depth trouble shooting to support operations delivery, quality management and control while ensuring adherence to policies and procedures to drive for exceptional customer service, operational excellence and compliance.
Would you like to discover how our diverse, hardworking people are leading the way in making energy cleaner and better – and how you can play your part in our world-class team?
Join our team and advance your career as a
Credit and Trade Finance Lead
BP delivers energy and related services people need all over the world. Our Integrated Supply and Trading business (IST) connects BP to globally traded markets for oil, gas, power, renewables, and currencies. We market BP’s oil and gas, and buy feedstocks for our refinery system and products to meet marketing demand. At GBS (Global Business Services) we are a highly skilled and diverse team of 5,000 professionals, based in key locations globally.
In this role You will:
We have the following requirements:
- Advising on the most appropriate LC type to be used for risk mitigation and/or working capital management.
- Amendment and/or extension of letters of credit and bank guarantees
- Process claims received for a letter of credit payment
- Responsible for the day to day margining activity in support of the regional businesses
- Receive SBLC extension/ amendment request from the front office to amend an SBLC.
- Prepare docs for banks to have signed and sent for SBLC issuance to 3rd parties.
- Prepare application for issuance based on EPLC recaps, verify with a counterparty, and send to issuing bank.
- Manage communications with banks and counterparties on receivables discounting
- Provide communication with banks and counterparties
- Reconciliation and approval of bank fees
- Provide timely and accurate updates to reference data in terms of new trading counterparties, terms of which we trade, and external rating changes
- Liaise with the appropriate settlements team to ensure the systems accurately represent the risk we hold and provide timely and effective communications to the necessary regional teams
- Proactively engage regional business on risks or concerns identified within the portfolio or activity
- Proactively monitor and assess limit utilization making limit/rating recommendations back to the various regional teams.
- Ensure consistency across the underlying data sets within the Credit systems.
- Provide timely and accurate updates to reference data
- Ad-hoc projects and/or activities as and when required.
- Collect improvement opportunities and suggest development measures to increase productivity within the team
bp Hungary won the Most Attractive employer 2021 Award, based on the PwC annual research. Come and join us!
- Bachelor’s Degree in Business, Finance, Accounting or related field.
- Relevant degree and a minimum of 5 - 7 years of experience in collections/credit risk management or trade finance
- Familiarity with Uniform Customs & Practice for Documentary Credits (UCP600) and International Standby Practices (ISP98)
- Experience in operational credit or trade finance role for a multinational companies or international/regional banks
- Understanding of Prepayments, Receivables Securitization, Receivable Discounting, Supply Chain Financing, Inventory Financing, and Trade Credit Insurance
- Understanding of general accounting rules mainly on Debt and Non-debt treat
- Experienced with Microsoft Suite especially Excel, Outlook, and MS Word as well as Power BI, other Power Apps, and Salesforce
- Experience at a risk rating agency or Commercial Bank is an advantage
- Written and/or spoken proficiency in English