Job Description

Travel required

Negligible travel

About BP

FINANCE

Join us in a crucial time of transition. We are bringing all of our finance and procurement activities for the group into one place, enabling better work.

For you this means working with us on:

Compliance - efficiently delivering external reporting requirements to ensure we continue to meet our regulatory ?obligations in all jurisdictions, supported by robust control environment across all three lines of ?defence.?

Stewardship - laying out a robust finance framework and providing ongoing management of the balance sheet and ?portfolio execution, supported by effective advocacy to the market.?

Performance - facilitating the effective allocation of capital, development of business plans and coordination of ?business performance interventions to ensure a consistent delivery between strategic aspirations, ?operational forecasts and delivered outcomes. Furthermore, you will be responsible for value creation through mergers and acquisition-led ?deals, commercial negotiations and integration of business opportunities.?

Transformation - driving digital transformation (centralising, digitising, optimising) across all elements of the finance entity to ?achieve sector-leading cost-performance.?

Job Family Group

Finance Group

Legal disclaimer

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, sex, gender, gender expression, sexual orientation, age, marital status, neurodiversity/neurocognitive functioning, veteran status or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform crucial job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodations.

Job Profile Summary

BP delivers energy products and services that people around the world need. Our Upstream segment is responsible for oil and natural gas exploration, field development and production. Our Downstream segment is focused on the refining and marketing of fuels, lubricants and petrochemicals. Our commitment to building a stronger, more sustainable energy future is matched by our commitment to the people who will make it a reality

Our supply and trading business, Integrated Supply and Trading (IST), connects BP to the world's traded markets for oil, gas, power, refinery feedstocks and currencies. We market BP's equity crude oil and natural gas, import feedstocks for our refinery system and buy products to meet marketing demand. We offer a combination of unique expertise in physical supply and trading, innovative financial structures, and world-class analytics to deliver long-term value, from wellhead to end customer.

At GBS we're a highly-skilled and diverse team of 5,000 professionals, based in locations globally.

This role forms is part of the team within GBS, supporting BP's trading and shipping business (T&S). A key focus of the role is to support the credit and trade finance teams to monitor and control risk as well as ensure data integrity in the relevant underlying systems. This role sits in Budapest but provides support across an oil and gas multi-commodity business operating on a global basis. Successful candidates will have the opportunity to interact with experts across the globe and across commodities all while having the opportunity to help shape initial remit and forward vision for the team.

Time Type

Full time

Job Advert

Key Accountabilities

• Advising on the most appropriate LC type to be used for risk mitigation and/or working capital management. . Amendment and/or extension of letters of credit and bank guarantees
• Process claims received for letter of Credit payment
• Responsible for the day to day margining activity in support of the regional businesses
• Receive SBLC extension/ amendment request from front office to amend an SBLC.
• Prepare docs for banks to have signed and sent for SBLC issuance to 3rd parties.
• Prepare application for issuance based on EPLC recaps, verify with counterparty, and send to issuing bank.
• Manage communications with banks and counterparties on receivables discounting . Provide communication with banks and counterparties . Reconciliation and approval of bank fees . Provide timely and accurate updates to reference data in terms of new trading counterparties, terms of which we trade and external rating changes
• Provide timely and accurate updates to reference data in terms of new trading counterparties, terms of which we trade and external rating changes
• Liaise with the appropriate settlements team to ensure the systems accurately represent the risk we hold and provide timely and effective communications to the necessary regional teams
• Proactively engage regional business on risks or concerns identified within the portfolio or activity
• Proactively monitor and assess limit utilisation making limit/ratings recommendations back to the various regional teams
• Ensure consistency across the underlying data sets within the Credit systems
• Provide timely and accurate updates to reference data
• Ad-hoc projects and/or activities as and when required
• Collect improvement opportunities and suggest development measures to increase productivity within the team

Education & Experience

• Bachelor's Degree in Business, Finance, Accounting or related field
• Relevant degree and minimum of 5 - 7 years of experience in collections / credit risk management or trade finance
• Familiarity with Uniform Customs & Practice for Documentary Credits (UCP600) and International Standby Practices (ISP98)
• Experience in operational credit or trade finance role for multinational company or international/regional banks
• Understanding of Prepayments, Receivables Securitization, Receivable Discounting, Supply Chain Financing, Inventory Financing and Trade Credit Insurance
• Understanding of general accounting rules mainly on Debt and Non-debt treat
• Experienced with Microsoft Suite especially Excel, Outlook and MS Word as well as Power BI, other Power Apps and Salesforce
• Experience at risk rating agency or Commercial Bank is an advantage ? Written and/or spoken proficiency in English.

Essential Criteria

• Commitment to business control including the courage to speak up where appropriate
• Proven ability of building effective business relationships
• Good analytical skills with a relentless attention to detail
• Good work ethics and professionalism
• Good problem solving and interpersonal skills
• Strong verbal and written communication skills
• Good understanding of contractual language and terminology
• Understanding of fundamental credit drivers
• Ability to advise on the most appropriate LC type to be used for risk mitigation and/or working capital management
• A good understanding of promissory notes / Bills of Exchange
• Ability to prepare presentation of original shipping documents for payment under LC or on a collection basis
• A sound understanding of commodity price structures and final versus provisional pricing
• Good knowledge of Incoterms and transfer of title and risk for physical commodities
• Understand basic implications of sanctions and foreign exchange on Letters of Credit
• Familiarity with key contractual credit terms as well as risk mitigation tools
• Readiness for action and ability to work under pressure in a fast paced environment
• SAP usage knowledge

Experience Level

Intermediate