Singapore Job Openings
BP SINOPEC MARINE FUELS PTE. LTD.
Credit Manager
Singapore
FULL TIME
October 21, 2024
Role Synopsis:
The Credit and Compliance Manager is a leadership role within BP Sinopec Marine Fuels (BPSM), a joint venture between Sinopec and BP that specializes in bunkering services and cargo trading. The role is responsible for formulating, implementing and operating BPSM’s credit, customer onboarding and compliance policies and procedures. The role holder must balance achieving an appropriate risk/reward return with facilitating profitable and sustainable business growth. The role holder will work closely with the General Manager, CFO, bunker traders and other professionals in support of global growth strategies, providing a risk management lens to decision making.
Key Accountabilities:
Specific accountabilities and attributes include the following:
The Credit and Compliance Manager is a leadership role within BP Sinopec Marine Fuels (BPSM), a joint venture between Sinopec and BP that specializes in bunkering services and cargo trading. The role is responsible for formulating, implementing and operating BPSM’s credit, customer onboarding and compliance policies and procedures. The role holder must balance achieving an appropriate risk/reward return with facilitating profitable and sustainable business growth. The role holder will work closely with the General Manager, CFO, bunker traders and other professionals in support of global growth strategies, providing a risk management lens to decision making.
Key Accountabilities:
Specific accountabilities and attributes include the following:
- Establish and own credit limits and trading tenor limits for counterparties that fall within formally delegated authority working to proactively facilitate commercial growth in a manner with appropriate awareness of associated risks and rewards and of BPSM’s credit risk appetite
- Understand and use of contractual terms, letters of credit, guarantees, lien structures, market instruments, and risk mitigation or similar protections to unlock value and achieve value adding transaction outcomes
- Maintain credit limits and related data within BPSM’s credit systems in an accurate and timely fashion – and monitor ongoing compliance therewith, escalating any concerns
- Selecting appropriate credit insurance coverage, managing claims and optimizing the insurance portfolio to mitigate financial losses
- For distressed counterparties, lead recovery efforts, which may include working closely with the counterparty, its lenders, and its other trade creditors
- Ensure Credit and related policies and procedures are compliant with the Joint Venture, Operating and other agreements in place between the shareholders and BPSM
- Conduct appropriate due diligence on counterparties and service providers, able to anticipate issues and be pro-active in resolving them
- Monitoring and assessing compliance risks by staying updated on evolving trade regulations, sanctions list, and emerging compliance issues in the industry
- Demonstrate a balanced but opportunistic mindset, with control accountabilities always coming first with an ongoing eye for circumstances which may present commercial origination openings for BPSM as well
- Extensive experience in a credit risk management in the bunker trading business
- Strong analytical and financial skills – including working with financial models and fluency with credit risk mitigation instruments
- Solid understanding of Singapore and international KYC/AML rules and regulations
- Understanding of international trade regulations, sanctions and export controls
- Innovative mindset which embraces the opportunity to add value by devising new approaches or solutions to overcome business hurdles without sacrificing prudent risk controls
- Excellent interpersonal skills, able to engage effectively as part of the team, absorbing new areas quickly and comfortable working autonomously, sometimes under high-paced work environment
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