GOA Strategic Credit Specialist Req ID 95700BR Job category Finance Countries (State/Region) Illinois Location United States - Illinois - Chicago Role synopsis A Strategic Credit Specialist for GOA holds delegated authority to set credit limits and terms for trading counterparties, working proactively to facilitate commercial growth but in a prudent manner with appropriate awareness of associated risks and rewards and of ISTs credit risk appetite.Success will require understanding the key drivers of credit exposure within a trading relationship, the key vulnerabilities of each counterpartys liquidity and capital structure and how to use contractual terms, letters of credit, guarantees, lien structures, credit market instruments and similar protections to achieve value-adding transaction outcomes.For credit issues, Strategic Credit is often the primary point of contact both internally and externally, including for project-related initiatives. Key accountabilities Specific accountabilities will include but not be limited to the following: · Establish credit limits and terms for ISTs trading counterparties which reflect a prudent risk/reward balance and are aligned with ISTs credit risk appetite. · Facilitate day-to-day transaction activity and related requests by the Front Office and lead/coordinate/support the credit structuring of large, long-term or complex transactions. · Advise / negotiate key contractual terms relating to credit working with Legal, Contracts and the counterparties to implement and update as required. · Maintain close working relationship with Global Credit Research team to facilitate its effective and timely coverage of the counterparty portfolio sharing business context and counterparty information, involving them in key internal and external discussions as appropriate and sharing views on key liquidity and capital structure vulnerabilities and how best to address. · Maintain close working relationships with Structured Trade Finance to facilitate its ability to source third-party credit protections and/or working capital participation sharing business context and counterparty information, involving them in key internal and external discussions as appropriate and helping to develop and progress structured finance solutions. · Foster appropriate cross-functional awareness of key credit exposures, concerns and protections and thoughtful risk/reward dialogue to ensure a sound and transparent decision-making process around material credit decisions. · Demonstrate a balanced but opportunistic mindset, with control accountabilities always coming first but with an ongoing eye for circumstances which may present commercial origination openings for IST as well. · For distressed counterparties, lead recovery efforts for ISTs credit exposure, which may include working closely with the counterparty, its lenders and its other trade creditors, along with Front Office and Legal and which may involve agreeing credit terms in which IST continues to take near-term credit risk in the hope of maximizing total recovery over the longer-term. · Maintain credit limits, terms and related data within ISTs credit systems in an accurate and timely fashion and monitor ongoing compliance therewith, escalating any concerns. Essential Education Bachelor's degree required, preferably in Finance or Accounting along with a strong business/analytic mindset. Essential experience and job requirements · Ability to understand complex trading exposures, transaction structures and credit risks. · Innovative mindset which embraces the opportunity to add value by devising new approaches or solutions to overcome business hurdles without sacrificing prudent risk controls. · A relentless commitment to excellence and to enabling sound business growth. · Excellent interpersonal skills and a comfort level in working effectively with people from a variety of disciplines and organizational levels within BP to achieve desired results. · A comfort level in working autonomously, sometimes under high-pressured and fast-paced circumstances, and often times with limited information and ambiguity. · Commercial awareness and appropriate sense of urgency when faced with time-sensitive opportunities and risks. · Comfort level in using market-based information, tools and analysis to inform trading and risk management decisions. · Comfort level with trading documentation and exercising sound credit judgment on related contractual issues. · Extensive experience in credit research and/or credit underwriting for small, medium and large corporate clients. Other Requirements (e.g. Travel, Location) There are no additional requirements. Please respond with N/A below. Desirable criteria & qualifications · 3-5 years of credit risk management experience, including the support of commodity trading activities ideally including oil and refined products trading as well as derivatives. · Experience working successfully across various functional areas on commercial opportunities, projects or similar initiatives. · Work-out/distressed credit experience and familiarity with various instruments used for mitigating credit risk. · Familiarity with credit portfolio management theory and practice and/or secondary credit markets (loans, bonds, CDS). · Experience with SPVs. · Experience preparing and presenting investment/structure ideas. · Language skills: Spanish and Portuguese Relocation available Negotiable Travel required Yes - up to 10% Is this a part time position? No About BP Our business is the exploration, production, refining, trading and distribution of energy. This is what we do, and we do it on a truly global scale. With a workforce of 80,000 employees, BP operates with business activities and customers in more than 80 countries across six continents. Every day, we serve millions of customers around the world. We are continually looking for talented, committed and ambitious people to help us shape the face of energy for the future. Integrated Supply & Trading (IST) is BP's face to the traded markets for BP in oil, gas, power, chemicals and finance. IST's role is to enhance Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by a world class finance, control and compliance infrastructure. IST has a dynamic and highly skilled workforce, which creates value by combining analysis and commercial innovation with the material asset base of BP. IST Oil Americas handles the supply and trading activities for BP's Oil and Chemical businesses in the Americas. The business unit and majority of our 800+ staff are headquartered in downtown Chicago, IL, with a material presence in offices in La Palma, CA; Houston, TX; Calgary, Canada. Our teams work closely with the BP business units in Refining and Marketing and Exploration and Production. IST fosters a diverse and inclusive workplace for all employees. We are proud of our stance on fairness, equal opportunity and meritocracy, which focuses on all of our employees reaching their full potential. Segment Integrated Supply & Trading Closing Date 11-Jan-2019 Disclaimer If you are selected for a position in the United States, your employment will be contingent upon submission to and successful completion of a post-offer/pre-placement drug test (and alcohol screening/medical examination if required by the role) as well as pre-placement verification of the information and qualifications provided during the selection process. The drug screen requires a hair test for which BP must be able to obtain a sufficient hair sample for analysis (~4 cm/1 ½ scalp, or > 2 cm/¾ body arms & armpits/legs/chest) As part of our dedication to the diversity of our workforce, BP is committed to Equal Employment Opportunity. Applicants will receive consideration for employment without regard for race, color, gender, religion, national origin, disability, veteran status, military status, age, marital status, sexual orientation, gender identity, genetic information or any other protected group status. We are also committed to providing reasonable accommodations for qualified individuals with disabilities and disabled veterans in our job application procedures. If you need assistance or an accommodation due to a disability, you may contact us or have one of your representatives contact us at BPUSApplicationAssis@bp.com or by telephone at 281.366.1999. Read the Equal Employment Opportunity is the Law poster and the poster supplement - for more information about Equal Employment Opportunities. (Spanish version) BP is an equal employment opportunity and affirmative action employer. View our policy statement. Eligibility Requirements If you are applying for a position in the United States, you must be at least 18 years of age, legally authorized to work in the United States; and not require sponsorship for employment visa status (e.g., TN, H1B status), now or in the future.