Senior Specialist, Credit Risk

JOB PURPOSE

As part of the Credit Risk Management Department within Finance, the Credit Risk Senior Specialist is responsible for performing quantitative and qualitative credit risk assessments of potential and existing counterparts of AGT to determine their credit worthiness with the purpose of avoiding credit losses.

The Credit Risk Senior Specialist monitors the credit risk worthiness as well as the current and potential future credit risk exposure of existing counterparts on a daily basis against approved limits and restrictions. He/she is thereby responsible for managing credit risks in the millions (USD) with potential future exposures of the assigned portfolio ranging in the hundreds of millions.

The Credit Risk Management Department works closely with Front Office, Middle Office, all Treasury functions (incl. Trade and Structured Finance, Cash Management) as well as Accounting and Invoicing, amongst others in the ADNOC Global Trading organization.

KEY RESPONSIBILITIES

• Collect and collate sensitive data and market information on potential and existing counterparts
• Take ownership of assigned portfolio and prepare thorough, high quality reviews in a time efficient and risk-appropriate manner according to the internal credit rating methodology and agreed metrics
• Recommend counterparty ratings and limits within management delegation of authority, put forward endorsements of limits outside of the delegated authority to higher management
• Monitor current and future credit risk exposure against approved limits
• Provide timely Pre-Deal Advice/Approval to Front Office for transactions conducted on open credit as a control mechanism of counterparty exposure
• Provide analytical support to Front Office to understand credit constraints on new deal structures
• Recommend and negotiate appropriate collateral to secure transactions when appropriate (Parent Company Guarantee, Credit Insurance, Documentary LC, SBLC, Silent Payment Guarantee etc.)
• Provide credit relevant input and feedback to Master Agreements (ISDA + CSA) in negotiations (incl. Financial Covenants, Thresholds and Netting Clauses)
• Monitor and escalate Front Office violations to credit limits and restrictions
• Initiate action to mitigate any credit limit breaches
• Monitor relevant markets on a macro level and perform ad hoc impact analysis following current events
• Monitor developments which may impact credit ratings, limits and exposure of a counterparty or sovereign and perform ad hoc reviews if necessary
• Support the maintenance of a comprehensive and robust Credit Risk Procedure          
• Contribution and support for special projects such as the implementation of credit related tools and IT systems
• Maintain strong relationships with credit risk peers at external counterparts and credit agencies, vendors etc.
• Contribute to the solicitation of open credit lines for AGT with external counterparts
• Contribute to monthly reports for Senior Management and Shareholders (Management Risk Committee and Board Risk Committee)
• Monitor payments performance data and initiate actions when deemed necessary
• Support the CRM department’s strategic role on topics like credit risk appetite per region and market as well as cost of credit
• Support the implementation of mitigating tools and strategies beyond the current portfolio of risk management tools

Competencies

• Strong oral and written communications skills is a must.
• Ability to clearly articulate and both support and challenge ideas and recommendations
• Maintain and manage the assigned portfolio and corresponding data with absolute accuracy in a timely manner
• Possesses strong financial literacy with solid numeracy and analytical skills
• Ability to understand financial statements and to see through the numbers and spot underlying weaknesses
• Ability to research and analyse problems in a logical manner with the purpose of recommending prudent, feasible solutions taking both the long and short-term impact of proposed solutions into account
• Thorough in completing work tasks in a diligent manner
• Ability to manage multiple priorities under time pressure
• Takes responsibility for own actions with a confident, pro-active approach in achieving results
• Makes decisions on best data available with a follow-through mind-set whilst remaining focused on delivering on goals and managing risk with a prudent and pragmatic approach
• Aligns actions to promote achievement of team goals
• Communicates efficiently on all levels of the organization with the ability to actively listen, negotiate, solve conflicts and support other team member’s activities towards achieving team and group goals
• Can develop and maintain strong working relationships with internal stakeholders
• Possesses commercial acumen related to commodity trading organisation

COMMUNICATIONS & WORKING RELATIONSHIPS

Internal

• All internal functions, ADNOC HQ
• Senior Management

External

• Trading counterparts
• Banks and Financial Institutions (insurance companies)
• Vendors (rating agencies, IT system providers)
• Government Authorities

QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS

Minimum Qualification

• Minimum Bachelor’s degree in business discipline, Finance, Economics, Mathematics or other similar academic studies

Minimum Experience, Knowledge & Skills

• 8+ years experience in a credit risk role within a trading company or financial institution
• Prior experience in the energy trading or commodity-based enterprise with experience of the credit risk management
• Experience of credit risk assessment, knowledge of energy markets and the different types of commodity and financial products as well as their risks
• Industry knowledge

• supply/demand fundamentals of physical markets, incoterms, product grades, refining systems, refinery economics/drivers, transportation and pipeline infrastructure and products carried, competitors, marine operations, third-party system parameters, standard terms and conditions of contracts, knowledge of the global energy business, understanding of the value of variations in specification, timing, and volume

• Risk Management knowledge

• risk management methodologies, advanced credit concepts like CVaR and potential credit exposure, stress testing, risk analysis techniques, proficiency in fundamental credit analysis, use of corporate risk management practices

• Financial knowledge

• Understanding of the valuation of derivatives, futures, options, OTC Swaps, and various credit instruments.
• Understanding of concepts such as NPV, value creation and option value.
• Proficient in quantitative analysis and mathematics of financial valuation

WORK CONDITIONS

Physical Effort: Minimal physical effort

Work Environment: Normal work environment