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Credit & Trade Finance Manager

Credit & Trade Finance Manager

  • Location Hungary - Central - Budapest
  • Travel required Negotiable
  • Job category Finance Group
  • Relocation available Negotiable
  • Job type Professionals
  • Job code 129799BR
  • Experience level Senior
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Job summary

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 Budapest but provides support across an oil and gas multi-commodity business operating on a global basis. You would have the opportunity to lead a team and interact with experts across the globe and across commodities all while having the opportunity to help shape initial remit and forward vision for the team.

We are a global energy business involved in every aspect of the energy system. We have 75,000 employees in 80 countries, working towards delivering light, heat and mobility to millions of people, every day. We are one of the very few companies equipped to solve some of the big complex challenges that matter for the future. We have a real contribution to make to the world's ambition of a low carbon future. Join us, and be part of what we can accomplish together.

In Hungary, we operate bp’s Global Business Services organization which is an integrated part of bp. Our people want to play their part in solving the big complex challenges facing our world today and, guided by our bp values, are working to help meet the world’s need for more energy while lowering carbon emissions. In our offices in Budapest and Szeged, we work in customer service, finance, accounting, procurement, HR services and other enabling functions – providing solutions across all of bp. Join our team, and develop your career in an encouraging, forward-thinking environment!

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

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 Trading & Shipping function and advance your career as a

Credit & Trade Finance Manager

In this role You will:
  • Advise on the most appropriate Letter of Credit (LC) type to be used for risk mitigation and working capital management
  • Accurate issuance of Letters of Credit (LC) and Bank Guarantees (BG)
  • Review, amendment and 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
  • 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.
  • Lead/participate in projects
  • Collect improvement opportunities and suggest development measures to increase productivity within the team
  • Coach, develop and manage an effective team
  • Display and instil key values and behaviours across the team
  • Manage all external and internal relationships

In this role we have the following requirements:
  • Relevant degree
  • Minimum of 7 - 10 years of experience in Accounts Receivable, credit risk management or trade finance
  • Managing a team in last 3-5 years
  • Experience in operational credit or trade finance role for multinational company or international/regional banks is needed
  • Fluency in English
  • SAP knowledge is preferred
  • Understanding of general accounting rules
  • Experienced with Microsoft Suite especially Excel, Outlook and MS Word
  • Familiarity with Uniform Customs & Practice for Documentary Credits and International Standby Practices is an advantage
  • Experience at risk rating agency or Commercial Bank is an advantage
  • Proven ability of building effective business relationships
  • Good problem solving and interpersonal skills
  • Understanding of fundamental credit drivers
  • A sound understanding of commodity price structures
  • 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

At bp, we provide the following environment & benefits to you:
  • A company culture where we respect our diverse and unified teams, where we are proud of our achievements and where fun and the attitude of giving back to our environment are highly valued
  • Possibility to join our social communities and networks
  • Chill-out and collaboration spaces in a stylish office environment
  • Learning opportunities, other development opportunities to craft your career path
  • Different bonus opportunities based on performance, wide range of cafeteria elements
  • Life & health insurance, medical care package
  • Company laptop
  • Phone for private usage
  • Opportunity to work from home: up to 2 days / week based on team agreement

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