23 August 2017
BP’s Integrated Supply & Trading (IST) is an integrated world-class trading organization that links together the trading activities of Oil Trading, Oil Supply, Gas & Power, Chemicals, Finance and Shipping to build trading capability and to optimise the revenue stream via a combination of market knowledge, people and systems. Responsibility for managing the risks deriving from these activities rests with the Finance and Risk function..
The Credit Operations Specialist role will be part of the Credit Operations team within the IST London Finance and Risk Team. The LC process which Operational Credit manages is fundamental to the functioning of GO-E and IG physical movements. In addition, the team enables business that may not otherwise be possible by sourcing credit cover from its external network of provider banks.
The position has direct reporting to the Head of Credit Operations, IST Europe and provides credit support for the regional businesses.
Issuance of letters of credit and dealing with the resultant claims and payment process to support the business.
•Collating, reviewing and presentation of relevant documents under documentary letters of credit to the banks for payment.
•Maintain close working relationships with Traders Operators and Credit Portfolio Management in all credit related matters.
•Assist in enhancing levels of communication between the team and Front office in order to increase efficiency and improve the quality of the work.
•Support the Head of Credit Operations in managing the IST bank relationships.
•Monitor the trade transactions in an accurate and timely manner to ensure compliance with credit approval terms.
•Foster support to cross functions -Negotiating key contractual terms relating to credit, in partnership with the Contracts and Legal team.
Our business is the exploration, production, refining, trading and distribution of energy. This is what we do, and we do it on a truly global scale. BP operates with business activities and customers in more than 80 countries across six continents. Every day, we serve millions of customers around the world. We are continually looking for talented, committed and ambitious people to help us shape the face of energy for the future.
Integrated Supply & Trading (IST) is BP’s face to the traded markets for BP in oil, gas, power, chemicals and finance. IST’s role is to enhance Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by a world class finance, control and compliance infrastructure. IST has a dynamic and highly skilled workforce, which creates value by combining analysis and commercial innovation with the material asset base of BP.
IST Finance operates in support of IST’s strategic objectives, helping it to achieve its aim of being the world’s pre-eminent energy trader, in a controlled and compliant way. IST Finance is an integral function within BP’s global oil and gas trading and supply activities. It is accountable for short term planning and for all financial and middle office control and reporting activities. It also ensures consistency and monitors compliance in processes and Operating Standards. IST Finance operates around 3 Global processes: Accounting & Reporting, Trade Completion and Product Control and operates seamlessly with the Risk function to support the business.
IST fosters a diverse and inclusive workplace for all employees. We are proud of our stance on fairness, equal opportunity and meritocracy, which focuses on all of our employees reaching their full potential.
The role requires a full understanding and working knowledge of Letters of Credit and experience of having been in an LC environment.
Complete understanding of the Banking Process & Trade Finance practices for Documentary Credits.
Previous experience in West Africa & the Middle East regions is necessary with experience in presentation of compliant original documents being crucial
A proven commitment to excellence and to enabling sound business growth.
Excellent interpersonal and negotiation skills and a comfort level in working with internal and external stakeholders from a variety of disciplines and organisational levels to achieve desired results, is essential.
Proven ability to navigate complex LC structures.
Ability to be effective in a deal advisor role & a structuring capacity in support of growth
Confident working autonomously, sometimes under high-pressured and fast paced circumstances.
The individual is required to work with commercially assertive traders and operators and be able to understand, and deal, with their various issues.
Commercial awareness and appropriate sense of urgency when faced with time-sensitive opportunities and risks
Word & Excel Intermediate.