Credit Manager

Position Summary:

This role will provide centralized and cohesive leadership for PCIA (hereinafter referred to as “PCIA Houston Office”), credit solutions and credit risk management to all PCIA businesses. The Credit Manager will be a critical enabler and promoter of business activity and calls for the right mix of credit expertise and commercial thinking. This is a hands-on leadership role and will support all PCIA trading businesses. Additionally, this role will support the regional needs.

This role will have direct oversight and be responsible for furthering development in the following areas:

Credit Team Management

• Provide leadership and direction for all PCIA credit team members. All PCIA credit team members will report to the Credit Manager
• Provide support to Regional Head to foster team development, integration, optimization and cohesiveness across the Americas Region Represent PCIA credit in working with Regional Credit team.
• Work with and support key stakeholders including Treasury, Trading, Legal, Contracts, Compliance, Internal Controls and other Regional Credit functions as needed.
• Drive efficient team structure and accountabilities to best support the business.
• Manage resource needs to foster the continued growth of PCIA business.

Credit Risk Controls

• Responsible for developing and implementing appropriate controls for monitoring of credit risk.
• Coordinate with PCIA Internal Control team on all audits.
• Create and implement all audit related action plans to remediate any findings.

Exposure Monitoring and Reporting

• Support credit reporting for daily, weekly, and monthly transparency into credit exposures, credit lines, counterparties across the PCIA businesses.
• Support regional credit reporting requirements.
• Provide ongoing review and recommend strategic credit positions and needs.
• Assess changes in overall credit exposures.
• Assess counterparty ratings and overall exposure profile.
• Assess credit limit excesses and determine appropriate solutions.

Credit Portfolio Monitoring and Management

• Provide expertise on overall industry and PCIA credit health.
• Monitor and report all significant credit concerns as they arise in PCIA’s credit portfolio.
• Actively discuss significant credit risks with respective trading managers
• Provide effective credit risk advice and develop solutions for the businesses.
• Develop credit metrics and processes to enhance and improve overall credit assessments.
• Prepares regular management and executive reports on credit and collateral exposure and changes in credit quality and credit exposure.

As an active Manager, this role will continue to support our business directly as needed in the following capacities:

Credit Analysis:

• Perform financial analysis of counterparty financial statements to evaluate creditworthiness for customers; includes establishing appropriate credit limits and internal global business unit allocations.
• Establish a framework for a dynamic underwriting process and analysis, inclusive of developing standard underwriting formats for counterparty credit analysis commensurate with the level of risk incurred.
• Respond to Commercial requests for current credit line status, obtain credit when required and attempt to have exemptions granted when the credit line is exceeded.
• Broaden credit risk support to help assess a variety of credit mitigation tools to allow the team to best support the business needs.
• Enhance Credit Review framework for Counterparties which receive a credit line, this includes all the Americas teams.
• Continue to monitor current events across the Americas region for public companies as well as industry news to prevent potential material adverse impact or credit loss..

Exposure Monitoring and Reporting:

• Respond to trader requests to approve trades prior to binding PetroChina, including PCIA, PCIC and all commodities traded.
• Develop and coordinate communications to the businesses for credit related items such as new credit lines, new counterparties and other credit related issues are discussed.
• Develop and coordinate communications to H.Q as well as new approved credit lines and other collateral requests.

Negotiate Credit terms in contracts:

• Support the Contracts Group by reviewing credit language in contracts including master trading agreements, NAESBs, EDIs, collateral agreement and other contractual documents as requested by Contracts and or Legal team.
• Work with Regional Credit team,Trade Finance and Legal to ensure credit language is acceptable for: trading contracts, confidentiality agreements, payment undertakings, Letters of credit, collateral agreements and parent guaranties received, and any other agreement as requested.
• Review and approve release of products where credit enhancements are needed or required.

Collateral Agreements:

• Negotiate with Counterparties and liaise with Trade Finance to find a mutually agreeable Collateral arrangements.
• Manage and work with Regional Credit Team and HQ on the issuance and maintenance of PU’s. Request parent company guaranties as required to support credit limits and ensure compliance with Legal guidelines.
• Recommend Trade Credit Insurance where applicable and communicate the terms and cost with commercial teams.

Required Qualifications:

• 10+ years of related credit analyst experience
• Bachelor’s degree
• Comprehensive knowledge of letters of credit
• Advanced understanding of how counterparty exposure is calculated.
• Experience monitoring counterparty exposure and remediating overages.
• Superior Knowledge of negotiating parent guaranties and other collateral support agreements
• Extensive experience negotiating credit language in trading and credit agreements:
• General Terms and Conditions for refined products
• Gas NAESB Contract
• Master crude agreements
• Master NGL agreements
• Emissions Trading Agreements
• ISDA Master Agreements
• Netting agreements
• Parent guarantees
• Letters of credit
• Exceptional financial statement analysis skills and ability to recommend appropriate credit lines.
• Highly Proficient at Excel
• Strong data analytical ability
• Extensive Energy market knowledge/experience
• Strong ability to communicate effectively across varying management levels.
• Excellent interpersonal skills and ability to deal positively with conflict.
• Efficient and effective time management and organizational skills