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For Companies At a Glance
- Tasks: Conduct credit limit reviews and manage risks for trading counterparties.
- Company: Join Prax Group, a dynamic player in the energy sector with global reach.
- 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 credit insurance knowledge required.
- Other info: Work with global offices and enhance your analytical skills in a supportive environment.
The predicted salary is between 48000 - 72000 £ 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.
Contact Detail:
Prax Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Credit Analyst (Weybridge)
✨Tip Number 1
Network with professionals in the credit analysis field, especially those who have experience in companies operating across multiple business streams. Attend industry events or webinars to connect with potential colleagues and learn more about the specific challenges they face.
✨Tip Number 2
Familiarise yourself with the latest trends in credit risk management and insurance policies relevant to the role. This knowledge will not only help you during interviews but also demonstrate your commitment to staying updated in a fast-paced environment.
✨Tip Number 3
Prepare to discuss your experience with credit limit underwriting and process improvements in detail. Think of specific examples where you've successfully implemented changes that enhanced efficiency or reduced risk, as this will showcase your ability to contribute to our team.
✨Tip Number 4
Research the Prax Group and its various entities to understand their operations and credit risk landscape. Being knowledgeable about our business will allow you to tailor your discussions and show how your skills align with our needs.
We think you need these skills to ace Senior Credit Analyst (Weybridge)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience as a Credit Analyst, particularly in managing credit limits and conducting credit reviews. Use specific examples that demonstrate your understanding of credit insurance policies and your ability to analyse financial statements.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention your experience in a fast-paced environment and your relationship-building skills. Be sure to relate your past achievements to the key responsibilities outlined in the job description.
Showcase Relevant Skills: Emphasise your strong understanding of credit limit underwriting and your experience with credit insurance policies. Highlight any process improvements you've led or contributed to, as this aligns with the company's desire for best-in-class systems.
Proofread Your Application: Before submitting, carefully proofread your application materials. Check for any spelling or grammatical errors, and ensure that all information is clear and concise. A polished application reflects your attention to detail, which is crucial for a Senior Credit Analyst.
How to prepare for a job interview at Prax
✨Showcase Your Analytical Skills
As a Senior Credit Analyst, you'll need to demonstrate your ability to analyse financial statements effectively. Be prepared to discuss specific examples of how you've assessed creditworthiness in the past and the methodologies you used.
✨Understand Credit Insurance Policies
Make sure you have a solid grasp of credit insurance policies and their implications. During the interview, be ready to explain how you've managed these policies in previous roles and how they relate to risk mitigation.
✨Highlight Process Improvement Experience
The role requires contributing to process improvements. Think of instances where you've led or been part of initiatives that enhanced efficiency or effectiveness in credit limit monitoring or approval processes, and be ready to share those stories.
✨Demonstrate Relationship-Building Skills
Since the position involves liaising with various stakeholders, it's crucial to showcase your relationship-building skills. Prepare to discuss how you've successfully collaborated with internal departments and external partners to achieve common goals.
