Located: Johannesburg, BryanstonReports To: Finance DirectorJob PurposeResponsible for the credit management of Prax Downstream business (South Africa and Botswana), including ensuring suitable credit risk mitigation is in place against trading counterparts, setting limits and analysing risks for larger non-insured customers, monitoring exposures and tracking counterparties.Responsibility for the administration of the Credit Insurance policies, including ensuring; internally approved limits match allocated insurance and counterparties trade within approved limits, claims reporting and handling.ScopeThe credit manager will be responsible for a debtor book of an average value of approx. ZAR 3Bn at any time across Retail, Commercial, Aviation businesses for South Africa and Botswana.Principal ResponsibilitiesManaging the team to ensure that fuel and/lubricants orders are released in accordance with company policy ensuring that any liability is fully secured at all times.Monitoring, approval, and reporting on open account limits.Approval of transactions/product releases on a trade-by-trade basis where limit excesses identified.Ensuring credit exposure monitoring remains fit for purpose and counterparties remain within limits, for a diverse range of counterparties including; (Retail, Wholesale and Aviation)Managing the Administration of Credit Insurance Policies, including assessment and approval of Discretionary Limit requests.Manage Credit insurance policies, including notifying of overdue accounts and liaising with our insurance broker to obtain required limits for counterpartiesClaims reporting and handling from an administrative perspective.Review and approval of potential transactions for credit risk and suggest mitigation and alternative structure to reduce/eliminate credit risk.Counterparty and industry monitoring for any risks which may impact credit worthiness of counterpartiesThe role would develop into analysing counterparty financial performance and producing credit reviews including detailed analysis with a limit recommendation.Proposing improvements to limit monitoring and approval processes where applicable.Skills/experience requiredCredit Manager of 5+ years' experience ideally with an entity with multiple business streamsExperience in the Oil Industry.A good understanding of Credit Insurance policies, including standard terms & conditions and reporting requirements for such policesSignificant experience of managing the end-to-end credit processes in different business lines, including a solid track record of driving change to processes to ensure they remain best in class.Ability to operate in a fast-moving environment, creating and leveraging strong relationships both internally and externally.Beneficial Skills and ExperienceUnderstanding of physical and financial oil tradingAbility to assess the creditworthiness of counterparties from analysing financial statements.Understanding of Commodity Trade Finance products such as LC, SBLC, Performance Guarantees.Understanding of Commercial Insurance policies including standard terms and conditions, such as Property Damage & Business Interruption, Environmental, Storage, Public & Product Liability.
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