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- Tasks: Conduct credit limit reviews and manage risks for global trading counterparties.
- Company: Join Prax Group, a dynamic player in the energy sector with a global presence.
- Benefits: Enjoy competitive pay, flexible working options, and opportunities for professional growth.
- Why this job: Be part of a fast-paced team making impactful decisions in credit risk management.
- Qualifications: 5+ years as a Credit Analyst with strong analytical and relationship-building skills required.
- Other info: Work with international teams across London, Houston, Singapore, and South Africa.
The predicted salary is between 36000 - 60000 £ per year.
We are seeking a Senior Credit Analyst responsible for conducting credit limit reviews across all Prax Group entities. This includes ensuring appropriate credit risk mitigation is in place for trading counterparties, setting and managing credit limits, and analysing risks—particularly for larger, uninsured customers.
The role also provides key administrative and analytical support to the Head of Credit Risk and the wider Credit/OTC team. It involves handling open credit risk requests from our global offices in London, Houston, Singapore, and South Africa.
Key responsibilities include:
- Managing the order release process in line with company policy, ensuring all liabilities are appropriately secured.
- Monitoring, approving, and reporting on open account credit limits.
- Ensuring credit exposure monitoring systems are effective and that all counterparties operate within approved limits across a diverse portfolio, including UK retail, wholesale, and fuel card customers.
- Conducting regular credit reviews for global entities, including those in the USA, Singapore, and South Africa.
- Managing credit insurance policies, including the notification of overdue accounts and coordination with insurance brokers to obtain required limits.
- Handling administrative aspects of claims reporting.
- Evaluating potential transactions for credit risk exposure and recommending appropriate mitigants or alternative structures to reduce or eliminate risk.
- Analysing financial statements of counterparties and preparing comprehensive credit reviews, including recommendations on credit limits.
- Recommending improvements to credit limit monitoring and approval processes where applicable.
Minimum of 5 years’ experience as a Credit Analyst, ideally within a company operating across multiple business streams. Strong understanding of credit insurance policies, including standard terms, conditions, and reporting requirements. Proven experience in credit limit underwriting. Comfortable working in a fast-paced environment, with excellent relationship-building skills across internal departments and external stakeholders. Knowledge of physical and financial oil trading. Proficiency in analysing financial statements to assess counterparty creditworthiness. Familiarity with commodity trade finance instruments, such as Letters of Credit (LCs), Standby Letters of Credit (SBLCs), and Performance Guarantees. Understanding of commercial insurance policies, including Property Damage & Business Interruption, Environmental Liability, Storage, and Public & Product Liability.
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Contact Detail:
Prax Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Credit Analyst (Temporary)
✨Tip Number 1
Familiarise yourself with the specific credit risk mitigation strategies used in the industry. Understanding how to set and manage credit limits effectively will give you an edge during discussions with our team.
✨Tip Number 2
Brush up on your knowledge of financial statements and credit insurance policies. Being able to analyse these documents confidently will demonstrate your expertise and readiness for the role.
✨Tip Number 3
Network with professionals in the credit analysis field, especially those with experience in commodity trade finance. Building relationships can provide insights and potentially lead to referrals within our organisation.
✨Tip Number 4
Stay updated on market trends in oil trading and related financial instruments. Showing that you are informed about the current landscape will impress us and highlight your commitment to the role.
We think you need these skills to ace Credit Analyst (Temporary)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience as a Credit Analyst, particularly focusing on your understanding of credit insurance policies and your ability to analyse financial statements. Use specific examples that demonstrate your skills in managing credit limits and mitigating risks.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention your experience in handling credit risk requests and your familiarity with commodity trade finance instruments. Be sure to explain how your background aligns with the responsibilities outlined in the job description.
Highlight Relevant Skills: When detailing your experience, emphasise your relationship-building skills and your ability to work in fast-paced environments. Mention any specific tools or systems you have used for credit exposure monitoring and how you have contributed to improving credit limit processes.
Proofread Your Application: Before submitting your application, carefully proofread all documents for spelling and grammatical errors. Ensure that your application is clear, concise, and free of jargon. A polished application reflects your attention to detail, which is crucial for a Credit Analyst role.
How to prepare for a job interview at Prax
✨Showcase Your Analytical Skills
As a Credit Analyst, your ability to analyse financial statements is crucial. Be prepared to discuss specific examples of how you've assessed creditworthiness in the past and the methodologies you used.
✨Understand Credit Insurance Policies
Familiarise yourself with various credit insurance policies and their implications. During the interview, demonstrate your knowledge of standard terms and conditions, as well as how they relate to risk mitigation.
✨Highlight Relationship-Building Experience
This role requires excellent relationship-building skills. Share examples of how you've successfully collaborated with internal departments and external stakeholders to manage credit risks effectively.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving abilities. Think about potential transactions you've evaluated for credit risk exposure and be ready to discuss the mitigants you recommended.
