Perform financial analysis of counterparty financial statements to evaluate creditworthiness for customers; includes establishing appropriate credit limits and internal global business unit allocations.
Establish a framework for a dynamic underwriting process and analysis, inclusive of developing standard underwriting formats for counterparty credit analysis commensurate with the level of risk incurred.
Respond to Commercial requests for current credit line status, obtain credit when required and attempt to have exemptions granted when the credit line is exceeded.
Broaden credit risk support to help assess a variety of credit mitigation tools to allow the team to best support the business needs.
Enhance Credit Review framework for Counterparties which receive a credit line, this includes all the Americas teams.
Monitor current events across the Americas region for public companies as well as industry news to identify emergent credit risks and insure the company is protected from credit losses.
Exposure Monitoring and Reporting:
Respond to trader requests to verify pending trades do not exceed approved credit limits.
Enhance Credit reporting for daily, weekly and monthly transparency into credit exposures, credit lines, and counterparties.
Develop and coordinate communications to the businesses for credit related items such as new credit lines, new counterparties and other credit related issues are discussed.
Supporting Role:
Support the Contracts Group with credit language drafted in contract including master agreements, NAESBs, ISDA, and other contracts used to execute trades under.
Support the Contracts Group contracts are missing and required, both for collateral issuances and products release clearance.
Work with legal to ensure credit language is acceptable which includes trading contracts, confidentiality agreements, Payment Undertakings and Parent Guaranties.
Review all Operator's scheduling spreadsheets for all products and approve the release or collateral requirements as needed for each trade.
Assist accounting in collecting past due payments.
Coordinate with accounting for the issuance and receipt of collateral, including prepayments.
Draft letters of indemnity, as needed, for operations in lieu of presenting original shipping documents for payment.
Work with KYC (Know Your Customer )team, Commercial, Compliance regarding Counterparty information requests, including completing know your counterparty forms (KYC) ensuring PetroChina meets our Counterparty's requirements for registration.
Collateral Agreements:
Negotiate with Counterparties to execute mutually agreeable Collateral arrangements.
Renew Payment Undertakings as they expire while ensuring cap amount meets Commercial's needs.
Request Parent company Guaranties if the trading entity is not the entity providing financial statements to support their unsecured credit line.
Other Duties:
Will perform other duties as assigned by management that may not be covered by the description above.
Preferred Qualifications:
1-3 years of related credit analyst experience
Bachelor's degree
Knowledge of letters of credit or related collateral agreements
A basic understanding of how counterparty exposure is calculated
Knowledge of negotiating parent guaranties
General experience reading industry related contracts, including negotiating credit language
General Terms and Conditions for refined products
Gas NAESB Contract
Mastercrude agreements
Netting agreements
International Swap Dealer Association contract
Able to review a counterparty's financial statements and recommend an unsecured credit line
Highly Proficient at Excel
Strong data analytical ability
Energymarket knowledge/experience
Strong ability to communicate effectively across varying management levels
Excellent interpersonal skills and ability to deal positively with conflict.
Efficient and effective time management and organizational skills.
The Company reserves the right, in its sole discretion, to modify this job description and any of the responsibilities included herein at any time, for any reason, with or without advance notice.