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For Companies At a Glance
- 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, remote work 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 credit insurance knowledge required.
- Other info: Work with 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
- Manage the order release process in line with company policy, ensuring all liabilities are appropriately secured.
- Monitor, approve, and report on open account credit limits.
- Ensure 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.
- Conduct regular credit reviews for global entities, including those in the USA, Singapore, and South Africa.
- Assess and approve discretionary limit requests.
- Manage credit insurance policies, including the notification of overdue accounts and coordination with insurance brokers to obtain required limits.
- Handle administrative aspects of claims reporting.
- Evaluate potential transactions for credit risk exposure and recommend appropriate mitigants or alternative structures to reduce or eliminate risk.
- Monitor industry developments that could impact the creditworthiness of trading partners.
- Analyse financial statements of counterparties and prepare comprehensive credit reviews, including recommendations on credit limits.
- Recommend improvements to credit limit monitoring and approval processes where applicable.
Required Skills and Experience
- 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.
- Demonstrated ability to lead or contribute to process improvements and ensure systems remain best-in-class.
- Comfortable working in a fast-paced environment, with excellent relationship-building skills across internal departments and external stakeholders.
Desirable Skills and Experience
- 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.
Senior Credit Analyst employer: Prax
Contact Detail:
Prax Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Credit Analyst
✨Tip Number 1
Familiarise yourself with the specific credit risk management practices used in the industry. Understanding how credit limits are set and managed, especially for larger, uninsured customers, will give you an edge during interviews.
✨Tip Number 2
Network with professionals in the credit analysis field, particularly those who have experience in companies operating across multiple business streams. This can provide insights into best practices and may even lead to referrals.
✨Tip Number 3
Stay updated on industry developments that could affect creditworthiness. Being knowledgeable about current trends and challenges in credit risk will demonstrate your proactive approach and commitment to the role.
✨Tip Number 4
Prepare to discuss your experience with credit insurance policies and underwriting during interviews. Highlighting your familiarity with these areas will show that you are well-equipped to handle the responsibilities of the Senior Credit Analyst position.
We think you need these skills to ace Senior Credit Analyst
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 credit limit underwriting. Use specific examples from your past roles that demonstrate your ability to manage credit risk effectively.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss how your skills align with the responsibilities outlined in the job description, such as managing credit limits and conducting credit reviews for global entities.
Highlight Relevant Skills: Emphasise your strong relationship-building skills and your ability to work in fast-paced environments. Mention any experience you have with process improvements and how you've contributed to best-in-class systems in previous roles.
Showcase Analytical Abilities: Provide examples of how you've analysed financial statements and assessed creditworthiness in your previous positions. Highlight any recommendations you've made regarding credit limits or risk mitigation strategies.
How to prepare for a job interview at Prax
✨Showcase Your Analytical Skills
As a Senior 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. This will demonstrate your expertise and analytical prowess.
✨Understand Credit Insurance Policies
Since the role requires a strong understanding of credit insurance policies, brush up on standard terms and conditions before the interview. Being able to discuss these confidently will show that you're well-prepared and knowledgeable about the industry.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving skills, especially regarding credit risk exposure. Prepare scenarios where you've successfully mitigated risks or improved processes, as this will highlight your experience and proactive approach.
✨Demonstrate Relationship-Building Skills
The role involves working with various stakeholders across global offices. Be ready to share examples of how you've built and maintained relationships in previous roles, as this will illustrate your interpersonal skills and ability to collaborate effectively.
