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