Letter of Credit/Margining Analyst
We are one of the largest integrated energy companies in the world, operating in the sectors of oil and gas exploration production,international gas transportation and marketing, power generation, refining and marketing, chemicals and oilfield services.
The Letter of Credit/Margining Analyst role will be part of the Credit Team. The main responsibilities of the Credit Team cover the daily exposure reporting requirements and collateral management activities in support of the energy trading areas.
Job Dimensions:
The key responsibilities of the post holder will include all aspects of import and export letters of credit (both documentary and standby) including, but not limited to, ensuring all letters of credit are received in a timely fashion, issued by an approved bank within Treasury approved limits and in an acceptable format. In addition the incumbent will be responsible for the timely presentation of documents to the bank for payment. It will also include the issuance of letters of credit to cover our purchases of oil and gas.
Accountabilities:
- Reviewing import documentary and standby letters of credit to ensure they cover the deal in question and do not put us in any adverse financial position.
- Collating, reviewing and presentation of relevant documents under documentary letters of credit to the banks for payment.
- Monitoring receipt of funds and chasing bank for any unpaid items as and when required.
- Liaising with Operators/Financial Operators in all letter of credit related matters.
- Liaising with Traders on non-vanilla type letters of credit
- Daily system and filing management
- Arranging the issue of letters of credit to cover our imports and dealing with the resultant claims and payment process
- Ensuring Bank LC issuance facility limits are adhered to at all times when requesting banks to issues instruments to cover our purchases
- Recording of instances where issues have arisen that result in either discrepant or late presentation of documents under export letters of credit
- Covering for other team members during sickness/holiday periods
Person Specification
Experience:
- The role requires a full understanding and working knowledge of letters of credit. An experience of having been in an LC environment for 18/24 months is advantageous.
- To succeed in this role, candidates will need to be able to work under pressure whilst meeting time constraints, be able to prioritise the workload and have an excellent attention to detail in order to ensure that the collateral is obtained in an efficient and timely manner.
- Strong communications skills are required in order to be able to communicate issues simply, efficiently and clearly.
- The individual is required to work with commercially aggressive traders and operators and be able to understand, and deal, with their various issues.
Leave a Reply
You must be logged in to post a comment.