bp
Senior Analyst - Trade Finance
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Entity: Finance
Job Family Group: Finance Group
Job Description: Our purpose is to deliver energy to the world, today and tomorrow. For over 100 years, bp has focused on discovering, developing, and producing oil and gas in the nations where we operate. We are one of the few companies globally that can provide governments and customers with an integrated energy offering. Delivering our strategy sustainably is fundamental to achieving our ambition to be a net zero company by 2050 or sooner!
About the Role
This role is based in London and sits in the Global Structured Trade Finance (STF) team within bp’s trading business (ST&S). The STF team facilitates ST&S business growth by partnering with credit, trading and origination teams, completing risk distribution and liquidity management using banks, insurers and other strategic partners employing tools such as letters of credit, risk cover and discounting using RPA or SPG, SCF and promissory notes as well as more complex structures.
- Daily execution of import and export LCs, SBLCs, Bonds and Guarantees in support of ST&S, C&P and the wider group
- Robust process and system management of LC, SBLC, bond and guarantee collateral
- Collaboration with tethered FBT teams and Liquidity Management team
- Maintain and develop close partnerships with key partners including but not limited to CDD, CWC, Credit, Compliance, Treasury, Accounting Policy and Legal teams to ensure that Trade Finance solutions are delivered within internal and external boundaries and in compliance with guidelines.
- Seamless coordinated partnerships across the business, including functional teams and Trading, Operations and Origination.
- Broaden and continue building enduring relationships with banks and financial institutions.
Key Accountabilities:
- Silent running of ST&S credit risk mitigation activities by maintaining robust processes and controls.
- Timely and accurate issuance of letters of credit, standby letters of credit and bank guarantees within Treasury and ST&S delegations of authority, working practices and guidelines.
- Review, receive and record incoming collateral in the form of letter of credit, standby letter of credit or bank guarantee
- Collation, review and presentation of documents under documentary LC for payment and maturity or early with discounting.
- Partnership with Treasury, Credit, CWC, Contracts and Legal teams.
- Internal partner management
- Ensure Notices of Assignment are processed for ST&S globally.
- Continuous collaboration with FBT STF teams based in KL and Budapest ensuring safe transition of work to maintain high regional standards and good working relationships with bank, counterparties and internal participants.
- Actively pursue continuous improvement in processes and ways of working.
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Required Skills
Expertise
- Good understanding Trade Finance instruments in respect of benefits and limitations of LCs and SBLCs when deployed for risk mitigation and discounting depending on whether bp is supplier or buyer in the transaction.
- Ability to scrutinise LC and SBLC drafts received from buyers to ensure adequate credit risk mitigation.
- Good understanding of doc LC claims processes within bp and with banks
- Ability to ensure compliant documents are procured, prepared and presented for payment under doc LC in BAU and for SBLC in case of need.
- Ability to draft LCs with consideration of price risks based on the counterparty’s creditworthiness.
Other Skills and Capabilities
- Agile and flexible worker who can cover many areas of the team and can effectively handle multiple activities, products, partners and/or projects simultaneously. Can adjust well to workload changes.
- Understanding of bp internal systems, including a good understanding of how core systems are integrated and how to use said systems to facilitate and support activities within STF and alongside CWC.
- Excellent capability with Excel and PowerApps
Why join us?
At bp, we support our people to grow in a diverse and exciting environment. We believe that our team is strengthened by diversity. 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, excellent retirement benefits, among others!
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We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.
Reinvent your career as you help our business meet the challenges of the future. Apply now!
Travel Requirement Negligible travel should be expected with this role
Relocation Assistance: This role is not eligible for relocation
Remote Type: This position is a hybrid of office/remote working
Skills: Analytical Thinking, Business Acumen, Collaboration, Commodity Risk Management, Creativity and Innovation, Curiosity, Data visualization and interpretation, Decision Making, Exposure Management, Internal control and compliance, Market Knowledge, Market Risk Management, Operational Risk, Portfolio analytics, Problem Solving, Resilience, Sentiment and Trends, Thought Leadership, Trade discipline and compliance, Trade execution and management, Trading and shipping data knowledge, Trading Fundamentals, Trading knowledge, Trading risk controls
Legal Disclaimer:
We are an equal opportunity employer. We do not discriminate on the basis of protected characteristics like race, religion, color, sex, national origin, sexual orientation, veteran status or disability status. Individuals with an accessibility need may request an adjustment/accommodation related to bp’s recruiting process (e.g., accessing the job application, completing required assessments, participating in telephone screenings or interviews, etc.). If you would like to request an adjustment/accommodation related to the recruitment process, please contact us.
If you are selected for a position and depending upon your role, your employment may be contingent upon adherence to local policy. This may include pre-placement drug screening, medical review of physical fitness for the role, and background checks.
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