Principal - Structured Credit

Entity:

Finance

Job Family Group:

Finance Group

Job Description:

About bp

Our purpose is to bring together people, energy and markets to power and navigate a changing world. In a time of constant change and possibility we need new talent to pursue commercial opportunities, fueled by world-class insight and expertise. We're always striving for more innovative digital solutions, sustainable outcomes, and closer collaboration across our company and beyond, and you could be part of that too. Together we continue to grow as the world's leading energy company!

Role Synopsis:

The Principal - Structured Credit, GPT Credit is responsible for managing the structured credit risk arising from trading and origination activities within GPTA - and as required as a backup to other portfolios within or across regions. This is a commercially-enabling role that must drive business forward while maintaining transparency, control, and an appropriate risk/reward balance. Primary focus is on complex structured transactions and facilities (e.g., producer hedging, power offtakes) rather than more standard physical and financial "flow" trading. The Principal is expected to serve as a recognized and respected subject matter expert within GPTA, influencing underwriting frameworks and approaches, management of credit tail risks, evaluation and optimization of relative risk/reward inherent in different structuring possibilities, proactive risk management of stressed and distressed transactions. They will partner closely with the Credit LT, Front Office, Structured Trade Finance, Legal and other professionals in discharging these accountabilities. The Principal will be an active member of the extended leadership team for T&S Credit, helping to shape forward team direction, risk management and delivery strategies and staff development. Given the breadth of knowledge and experience provided by this role, candidates are expected to demonstrate a capability and passion for continued professional development, allowing them to stay abreast of current market practices and support novel transaction structures, forming an integral part of the senior leadership pipeline for the broader credit team and trading organization.

Key Accountabilities:

Key accountabilities will include, but not be limited to:

• Advise on credit structuring for large or long-term complex transactions and financing facilities and credit policies and frameworks working alongside Front Office, Structured Trade Finance, Legal, and other functions

• Understand the use of contractual terms, letters of credit, guarantees, lien structures and similar protections to unlock value and deliver positive commercial outcomes

• Collaborate with Structured & Trade Finance to externalize credit risk

• Lead credit risk management and recovery efforts for stressed and distressed counterparties

• Foster cross-functional awareness of key credit drivers and protections, ensuring clear decision-making around credit decisions - including via T&S governance forums

• Work with Origination and Legal to develop and negotiate key credit-related clauses

• Monitor compliance with credit limits and terms, maintaining related data within T&S's systems and raising any issues or concerns

• Champion pro-active risk management and portfolio-level exposure controls

• Master the key drivers of credit exposure within a trading relationship, including vulnerabilities of each counterparty's liquidity, capital structure, and competitive position

• Working proactively to facilitate commercial growth with awareness of associated risks and control accountabilities

• Develop constructive relationships that enable the timely flow of information and interventions

• Lead team members in organization and execution of the above

• Work with team members to foster their professional development and dedication to providing support and resources, ongoing priorities, and providing constructive feedback

Essential Education:

• Bachelor's Degree or equivalent required

Essential Experience and Job Requirements:

• Demonstrated comfort and ability exercising critical thinking and independent judgment when advising on complex transactions, distressed credits, or when revisiting legacy credit risk management approaches amidst changing internal or external conditions

• A passion for the role and a relentless dedication to excellence, and outstanding attention to detail and rigorous and timely follow-through on all role accountabilities, technical and people-related

• Ability to deliver effectively against bp's leadership expectations - by promoting and role-modeling positive values and behaviors, developing talent, energizing staff and delivering against near and long-term objectives

• Excellent interpersonal and leadership skills, able to engage effectively as part of the team, absorbing new areas quickly and comfortable working autonomously, sometimes under fast-paced work environment

• Strong analytical and financial skills, including fluency with models and financial derivatives or similar variable exposures common to trading businesses

• Excellent interpersonal and leadership skills and comfort working with both senior and junior stakeholders across the various functional areas of the organization

• Fluency with Legal principles and contractual terms relevant to complex transactions and critical to safeguarding bp's interests and recovery in same

• An innovative attitude that embraces the opportunity to add value by devising new approaches or solutions to achieve commercial outcomes without sacrificing prudent risk control

• Deep experience with secured and unsecured producer underwriting and risk management related to hedging, financing or both

Desirable Experience:

• 10 or more years of credit experience in a financial institution, trading business or similar

• Experience with distressed or workout credits

Why bp?

At bp, we support our people to learn and grow in a diverse and ambitious environment. We believe that our team is strengthened by diversity. We are committed to fostering an inclusive environment in which everyone is respected and treated fairly.

There are many aspects of our employees' lives that are meaningful, so we offer benefits to enable your work to fit with your life. These benefits can include flexible working options, a generous paid parental leave policy, and excellent retirement benefits, among others!

bp operates in a hybrid model working 60% from the office and 40% from home.

Travel Requirement

Negligible travel should be expected with this role

Relocation Assistance:

Relocation may be negotiable for this role

Remote Type:

This position is a hybrid of office/remote working

Skills:

Analytical Thinking, Collaboration, Commercial Acumen, Commodity Risk Management, Creativity and Innovation, Curiosity, Data visualization and interpretation, Decision Making, Exposure Management, Group Problem Solving, Internal control and compliance, Market Knowledge, Market Risk Management, Operational Risk, Portfolio analytics, Resilience, Thought Leadership, Trade discipline and compliance, Trade execution and management, Trading and shipping data knowledge, Trading knowledge

Legal Disclaimer:

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, socioeconomic status, neurodiversity/neurocognitive functioning, veteran status or disability status. Individuals with disabilities may request a reasonable accommodation related to bp's recruiting process (e.g., accessing the job application, completing required assessments, participating in telephone screenings or interviews, etc.). If you would like to request an accommodation related to the recruitment process, please contact us to request accommodations.

If you are selected for a position and depending upon your role, your employment may be contingent upon adherence to local policy. This may include pre-placement drug screening, medical review of physical fitness for the role, and background checks.