Credit Risk Specialist

Job title: Credit Risk Specialist

Company: Thungela

Job description: Company Description

As the Credit & Risk Specialist you will manage the assessment and control of credit risk for the Export Marketing function in the United Arab Emirates, inclusive of accounts receivable, whilst providing support to meet governance, regulatory and statutory requirements.

Finances are Vital, you’ll help us see where we are going.

Thungela Resources [Thungela means “to ignite” in isiZulu] is a leading South African thermal coal business, focused exclusively on thermal coal production. It is one of the largest pure-play producers and exporters of thermal coal in South Africa based on aggregate coal reserves and marketable coal production. Thungela focuses on exporting its thermal coal portfolio mainly to the Indian, Asian, Southeast Asian, Middle East and North African markets.

Job Description

You will ensure an effective and efficient credit risk review is conducted on any potential counterparties to assess their eligibility for onboarding. You will also ensure all the required documents required to conduct the assessment are received and in good order as well as assess the credit risk of the potential counterparty in line with the applicable policy and standards.

More of your responsibilities will include:

• Compiling and providing a report detailing the outcome of the assessment and communicate the outcome to the Financial Manager and other applicable stakeholders
• Creating and maintaining the credit risk review documentation and related paperwork in the required formats to meet internal and statutory requirements
• Ensuring an effective and efficient process is conducted to determine the trade finance terms to be advanced to onboarded counterparties
• Compiling and providing a report detailing the outcome of the assessment within the credit approval matrix and communicate the outcome to the Financial Manager and other applicable stakeholders
• Creating and maintaining required credit risk review documentation and related paperwork in the required formats to meet internal and statutory requirements
• Performing the month end processes for the applicable registered companies in the United Arab Emirates
• Ensuring all receipts are deposited timeously into nominated bank accounts as per the contractual term
• Ensuring all customer receipts cleared against relevant customer accounts
• Ensuring the accuracy, reliability and relevance of customer account balances
• Preparing and delivering customer statements and resolve any misrepresentations with customers timeously as well as ensuring accuracy, reliability and relevance of the age analysis
• Providing timely and accurate credit risk reports to relevant stakeholders in Export Marketing to assist in ensuring quality decision making
• Conducting regular reviews on counterparty performance to assess the suitability of the current trade and contractual terms
• Identifying risks related to the suitability of the current trade and contractual terms and initiate a process to address
• Ensuring any non-compliance to trade and contractual terms are reported to the required stakeholders in a timeous manner
• Performing procedures to ensure core accounting processes of AR, Treasury etc. are compliant with other policies and guidelines set by the Group

Qualifications

• Bachelor’s degree in financial management or related disciplines (NQF level 7) or international equivalent
• Applicable certifications i.e.: CCRM

Experience

• Minimum 5 years’ financial management experience with in-depth experience of credit risk management within commodity trading industry
• Good experience in establishing effective credit risk frameworks

Additional Information

• Proficient knowledge financial best practises & standards incl. General Accepted Accounting Principles and International Financial Reporting Standards
• Emerging knowledge of various SAP products i.e. SAP S4 HANA, SAP IBP and SAP CTRM.
• Advanced knowledge of credit and counterparty risk management
• Proficient knowledge of safety, risk and stakeholder management
• Proficient knowledge of Corporate Governance and Risk Management

Proficient knowledge of relevant legislation applicable to Thungela Resources incl.:

• UAE Labour law
• UAE Federal Tax Law
• Applicable financial legislation in the UAE
• Sarbanes-Oxley Act

Who We Are

We’re a company that promotes an environment that inspires innovation and where people have a shared sense of purpose. Skills, experience, creativity, and agility underpin our ability to grow and thrive. This means building a diverse team of high-performing individuals who operate our sites safely, effectively and cost efficiently. Our people focus is centered on acquiring, developing, and retaining the talent we need to take our business forward, safely and sustainably.

What We Offer

When you join Thungela, you can expect to enjoy a competitive salary and benefits package. But people want more out of their jobs than financial benefit alone. Being able to work with thought leaders, opportunities for development, strong values and a sound organisational culture all contribute significantly to a compelling employee value proposition.

Inclusion and Diversity

True diversity is about more than being an equal opportunities employer. It is about bringing out the best in people for the good of our business, its partners, and especially our employees. We’re committed to promoting an inclusive and diverse workplace where people are valued and respected for who they are and know exactly what value they bring to the table.

How to apply

To apply for this role, please complete our online application form. You will have the opportunity to upload your CV and other relevant documentation as part of this process.

Closing date: 21/03/2024

Expected salary:

Location: Dubai

Job date: Sat, 16 Mar 2024 23:35:42 GMT

Apply for the job now!