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Credit & Trade Finance Manager

Credit & Trade Finance Manager

  • Location Malaysia - Central - Kuala Lumpur
  • Travel required Negligible travel
  • Job category Finance Group
  • Relocation available No
  • Job type Professionals
  • Job code 129795BR
  • Experience level Senior
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Job summary

BP delivers energy products and services that people around the world need. Our Upstream segment is responsible for oil and natural gas exploration, field development and production. Our Downstream segment is focused on the refining and marketing of fuels, lubricants and petrochemicals. Our commitment to building a stronger, more sustainable energy future is matched by our commitment to the people who will make it a reality

Our supply and trading business, Integrated Supply and Trading (IST), connects BP to the world’s traded markets for oil, gas, power, refinery feedstocks and currencies. We market BP’s equity crude oil and natural gas, import feedstocks for our refinery system and buy products to meet marketing demand. We offer a combination of unique expertise in physical supply and trading, innovative financial structures, and world-class analytics to deliver long-term value, from wellhead to end customer.

At GBS, we 're a highly-skilled and diverse team of 5,000 professionals, based in locations globally. Priding ourselves on excellent teamwork, since the KL center opened our people have driven this part of the organization to become an excellent regional Asian business service center.

This role forms part of a newly created team within GBS supporting BP’s trading and shipping business (T&S). A key focus of the role is to support the credit and trade finance teams to monitor and control risk as well as ensure data integrity in the relevant underlying systems. This role also requires leadership and mentoring to the Credit and Trade Finance GBS team ensuring timely and accurate completion of all activities. This role sits in Kuala Lumpur but provides support across an oil and gas multi-commodity business operating on a global basis. Successful candidates will have the opportunity to lead a team and interact with specialists across the world and across commodities all while having the opportunity to help shape initial remit and forward vision for the team.

Key Responsibilities

  • Advising on the most appropriate LC type to be used for risk mitigation and/or working capital management.
  • Accurate issuance of Letters of Credit (LC) and Bank Guarantees (BG)
  • Review, amendment and or extension of LCs, BGs, Standby Letter of Credit (SBLC)
  • LC and Open Credit discounting
  • Oversee the day-to-day margining activity in support of the regional businesses
  • Timely preparation of documents for banks to have signed and sent for SBLC issuance to 3rd parties.
  • Liaise and generate application for issuance based on Extended Payment LC recaps, verify with counterparty, and send to issuing bank.
  • Provide oversight and support credit risk rating activities of the trading business
  • Ensure timely and accurate updates to reference data in terms of new trading counterparties, terms of which we trade and external rating changes
  • Coordinate 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 utilisation making limit/ratings recommendations back to the various regional teams.
  • Ad-hoc projects and/or activities as and when required (New projects)
  • Collect improvement opportunities and suggest development measures to increase productivity within the team
  • Develop and lead an effective team
  • Display and instil key values and behaviours across the team
  • Lead all external and internal relationships

Education and Experience

  • Bachelor’s Degree in Business, Finance, Accounting or related field.
  • Relevant degree and minimum of 7 - 10 years of experience in collections / credit risk management or trade finance
  • Leading a team in last 3-5 years
  • Familiarity with Uniform Customs & Practice for Documentary Credits (UCP600) and International Standby Practices (ISP98)
  • Experience in operational credit or trade finance role for multinational company 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 risk rating agency or Commercial Bank is an advantage
  • Written and/or spoken proficiency in English.

Essential criteria

  • Commitment to business control including the courage to speak up where appropriate
  • Proven ability of building effective business relationships
  • Good analytical skills with a relentless attention to detail
  • Good work ethics and professionalism
  • Good problem solving and interpersonal skills
  • Strong verbal and written communication skills
  • Good understanding of contractual language and terminology
  • Understanding of fundamental credit drivers
  • Ability to advise on the most appropriate LC type to be used for risk mitigation and/or working capital management
  • A good understanding of promissory notes / Bills of Exchange
  • Ability to prepare presentation of original shipping documents for payment under LC or on a collection basis
  • A sound understanding of commodity price structures and final versus provisional pricing
  • Good knowledge of Incoterms and transfer of title and risk for physical commodities
  • Understand basic implications of sanctions and foreign exchange on Letters of Credit
  • High attention to detail
  • Familiarity with key contractual credit terms as well as risk mitigation tools
  • Readiness for action and ability to work under pressure
  • Self-confident appearance in relations to the internal contacts
  • SAP usage knowledge

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