Credit Risk Specialist – Oil recruitment
Job Purpose:
The Credit Risk team ensures the effective credit risk control of refined-, financial- and special products trading activities by providing front office, senior management and the board with unbiased, comprehensive, accurate and timely counterparty risk information.
External communication with relevant credit departments with customers will be part of the day-to-day activities.
The Credit Risk Specialist ensures the appropriate counterparty risk valuation and analysis and the provision of (daily) counterparty exposure information to all trading desks. The desk has a wide range of different counterparties (producers, refiners, trading companies, end users) that require a strong credit risk team to support front office and provide control.
Principal Accountabilities and Activities:
- Manage and guide Credit Risk Analyst(s).
- Provide detailed analysis of counterparty financial data to determine its creditworthiness.
- Maintain Risk Control's counterparty database and ETRM system (Allegro) data in sync.
- Prepare new counterparty approval requests for the Risk Management Committee.
- Continuously monitor economic developments for counterparties and detect upcoming counterparty risks early as part of the regular counterparty review process.
- Develop, and implement counterparty risk reports for the desk's trading books on a daily and monthly basis including counterparty risk limit monitoring.
- Develop, implement and maintain an internal counterparty rating system.
- Engage in ad hoc analysis on new markets/products/asset proposals for credit risk
- Continuously improve existing processes and workflows within credit risk and beyond.
- Support the continuous improvement of Risk controls, reporting and analysis in line with business requirements.
Education Qualification:
- Degree level education in Economics, Business Administration, Mathematics, Physics, Information Technology or other related subject
Competencies and Technical Skills:
- Knowledge, technical skills experience required of the job and success in the role 5 years+ of relevant working experience in a trading company or bank, experience with energy commodities, esp. in refined products or crude is desirable.
- Ability to effectively communicate complex matters to senior management and Front Office.
- Good team-working, internal and external communication and negotiation skills.
- Ability to guide and coach more junior staff and coordinate tasks.
- Experience in financial counterparty analysis, counterparty risk measurement concepts (e.g. credit portfolio models) and rating concepts.
- Knowledge of legal implications of physical trading and financial master agreements.
- General understanding of and interest in (Oil) commodities and financial instruments.
- Affinity towards data and the ability to challenge the meaning of numbers.
- Proven delivery focus.
- Good team-working and communication skills.
- Good Knowledge of the MS Office suite, esp. MS-Excel (VBA) and MS-Access.
- Working knowledge of an ETRM software package, esp. Allegro would be beneficial.
- Experience in an international, multi-cultural working environment.
- Language skills: business fluent in English, Arabic advantageous.
***Oil Recruitment has been working with some of the world’s leading banks, trading companies, major oil companies and utilities within the energy trading arena since 1998. We work on roles in trading, broking, risk, credit, quantitative analysis, consultancy, shipping, chartering, operations and contract analysis across the upstream and downstream energy markets in crude, oil products, gas, power and carbon.
To learn more about our business and to see details of our other vacancies visit www.oilrecruitment.co.uk