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