Credit Risk Manager

Union Maritime Limited; London; On-site; GBP 70,000 - 90,000; Full time

Job summary

A maritime company in London is seeking a Credit Risk Manager to oversee credit exposure across various transactional activities. The role involves developing credit risk policies, enforcing compliance with credit limits, and coordinating with finance and legal teams. Candidates should have 6-8 years of experience in credit risk management, along with strong analytical and communication skills. Competitive benefits, including a discretionary bonus, are offered.

Benefits

Annual discretionary bonus

Pension benefits

Medical benefits

Qualifications

• Proven experience of at least 6-8 years in credit risk management, ideally within maritime or commodities.
• Deep understanding of shipping contracts and financing structures.
• Familiarity with legal and insurance processes.

Responsibilities

• Develop and implement a robust credit risk policy.
• Monitor and enforce credit limits for counterparties.
• Publish immediate credit default reports and prepare weekly reports for management.

Skills

Credit risk management

Analytical skills

Communication

Tools

Financial reporting tools

Job description

Overview

The Credit Risk Manager is responsible for the day-to-day management of credit exposure across the group's chartering, broking, financing, and other transactional activities. The Credit Risk Manager will be responsible for developing and maintaining credit limit protocols and individual counterparty limits, as well as management of interest-charging policy and practice, credit default identification, escalation, and reporting. The function requires close coordination with Finance colleagues on outstanding receivables and receipts, as well as with Legal on recoveries and commercial teams on mitigations and strategy.

Key Responsibilities

1. Credit Risk Operations
   • Develop, implement, and maintain a robust credit risk policy accounting for counterparty types, transactions, regions, and sectors.
   • Monitor and enforce credit limits for counterparties, ensuring compliance with internal thresholds.
   • Develop and implement policy on application of interest terms in contracts.
   • Identify and escalate defaults and potential defaults.
   • Consult with relevant stakeholders on mitigations and recoveries.
   • Maintain a centralised tracking system for credit exposures, overdue accounts, and recovery efforts.
   • Conduct regular reviews of counterparty creditworthiness using internal data and external intelligence.
   • Flag emerging risks and recommend adjustments to credit terms or exposure levels.
2. Claims
   • Liaise with the Insurance and Legal teams to support the prosecution of claims.
3. Reporting
   • Publish immediate credit default reports (alongside initiation of the abovementioned response actions).
   • Prepare weekly reports for functions and CEO, CFO and COO detailing credit exposures, overdue accounts, and recovery status.

Qualifications

• Proven experience of at least 6-8 years in credit risk management, ideally within the maritime or commodities sectors.
• Deep understanding of shipping contracts, chartering terms, and related finance structures.
• Familiarity with legal and insurance processes related to claims and recoveries.
• Excellent analytical and communication skills.
• Proficiency in credit risk systems and financial reporting tools.

UML offers competitive benefits including annual discretionary bonus, pension and medical benefits. Further details will be provided on request.