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Master Agreement Specialist

Master Agreement Specialist

  • Location United States - Illinois - Chicago
  • Travel required Yes - up to 10%
  • Job category Legal Group
  • Relocation available No
  • Job type Professionals
  • Job code 139419BR
  • Experience level Intermediate
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Job summary

Responsible for supporting the legal team in providing professional, commercially-focused and appropriate legal and risk assessment research and advice, to assist BP in minimising its legal and reputational risks.

Would you like to join our Legal team and help bp to reinvent energy?

Supporting the bp group strategy, bp Legal’ s purpose is to deliver work which fuels bp’ s ability to meet the world’s energy needs.

The Master Agreement Specialist will be responsible for helping minimize bp’s credit, legal and operational risk through the deliberate drafting and negotiation of physical and/or financial transactions trading agreements for the purchase and sale of crude oil, refined petroleum products and environmental credits.


In this role you will:

  • Contribute to the Master Team’s processes, policies and “best practice” procedures in connection with the drafting, negotiation and management of master agreements and other documents
  • Interact and collaborate with the Front Office, Credit, Legal, Compliance, Financial Settlements, and Contract Specialists
  • Assist in the delivery of special projects to implement the creation, novation, modification, termination, or assignment of agreements to align with strategic business changes
  • Create and maintain templates for master trading agreements based on bp’s current credit and legal policies
  • Maintain work–in-process on the team’s shared drive; upload master agreements and other documents to bp’s database; input key provisions for each master agreement to ensure database is accurate and up-to-date; and run reports from the database as needed


About you:

You are a licensed attorney in good standing in any U.S. state and, if applicable, willing and able to obtain a license under Illinois law for in-house counsel. It is essential that you demonstrate:
  • Proficiency working with legal language and adept at identifying and resolving key issues and gaps in agreements
  • The ability to understand and critically analyze clauses in agreements to ensure proper balance between creative problem solving and adequate risk protection
  • The ability to work autonomously in a fast-paced environment that at times that may be under high-pressure
  • Strong communication and interpersonal skills and comfort interacting with personnel at various levels within bp
  • A commitment to excellence to help bp legal meet its objectives

In addition, it would be helpful if you have:

  • Experience working with standard industry trading agreements (e.g., ISDA, LEAP, EFET, EEI, NAESB, IETA), with frequently used General Terms and Conditions, and bespoke master trade agreements, letters of agreement
  • Familiarity with master netting agreements, confidentiality agreements, assignments and novations, and guarantees) and/or drafting and negotiating complex corporate finance transaction documents
  • Knowledge of, or ability to quickly learn, bp’s documentation (credit and legal policies) and rationale behind them sufficiently to be able to discuss with Credit, Legal and Operations teams any issues and to suggest alternative provisions where possible
  • Knowledge of INCOTERMS, maritime law, chartering, or other key aspects of waterborne transactions
  • International and/or cross-business experience

Apply today!

At bp, we support our people to learn and grow in a diverse and ambitious environment. We believe that our team is strengthened by diversity. We are committed to fostering an inclusive environment in which everyone is respected and treated fairly.

There are many aspects of our employees’ lives that are meaningful, so we offer benefits to enable your work to fit with your life. These benefits can include flexible working options, a generous paid parental leave policy, and excellent retirement benefits, among others!


Apply Search all jobs at bp