To provide effective finance operations and risk management for our international oil trading activities.
Key responsibilities
- Issuance of L/C’s or Bank Guarantees for our purchases & sales of Crude and Oil Products including negotiation with banks in order to place transactions under bilateral facilities
- Review of contracts for all transactions in accordance with company policy and procedure
- To check and approve cargo loadings and discharges whilst ensuring contractual obligations are met without exposing the company to risk or loss
- Risk covering sales where necessary with Banks and/or Insurance
- Ensuring that Risk Management decisions are appropriate, bearing in mind financial/commercial imperatives.
- Release and stock management, exposure monitoring and weekly m2m of any storage positions
- Close co-operation with our Deals Desk personnel to ensure any costs agreed by Trade Finance are allocated correctly to the separately maintained deal Profit and Loss accounts
- Close co-operation with our Oil Operations team to ensure that our physical logistical requirements are in alignment with financial and risk considerations
- Preparation and dispatch of Invoices and Letters of Indemnity (or shipping documents) for payment under Documentary Letters of Credit received from our buyers
- The reception / recording and distribution of shipping documents – including the allocation and dispatch of such documents to our trading counter-parts / financing banks enabling the prompt cancellation of outstanding LOI’s
- The regular chasing of any shipping documents not received in a timely manner from our trading counter-parts / financing banks – thus ensuring that our credit facilities are used to an optimum level
- Ensuring timely processing of Cargo payments together with managing cash positions with the Banks.
- Closely liasoning with teams in locations like Singapore/ Geneva/ Johannesburg etc
Required qualifications
- Minimum 2+ years’ experience in wit