Manager, Commodities and Trade Risk

About the team:

The Commodities, Trade and Carbon Risk Team is responsible for risk management and oversight of credit and physical commodities exposures within IB&M along with end-to-end accountability for Commodities, Trade and Carbon.

The Commodities Risk team in London manage industry related activities in Europe and Americas (Western Region).

We manage a credit risk portfolio of IB&M clients – primarily commodity traders spanning the energy, metals, and agricultural sectors. Other commodities clients include power and utility trading arms and precious metals refiners.

The product suite that we provide our clients is focused on structured trade, derivatives, lending, and repo. The team also has product responsibilities and oversight across our physical inventory business.

Do work that matters:

As a key member of deal teams, the role requires a dynamic and proactive approach to transaction delivery and meeting client timelines in an expanding commodities portfolio.

Working closely with the Senior Manager, Commodities Risk on transactions, ongoing portfolio monitoring and review, reporting, and other risk initiatives.

Remain abreast of industry sector, macroeconomy, geopolitics, and current affairs. Early identification of emerging trends and risks and recommending mitigating action.

Engaging with key stakeholders to deliver and achieve optimal commercial and risk outcomes.

You will report to the Senior Manager, Commodities Risk, Europe and Americas (Western Region) also based in London.

Your responsibilities will include:

• Counterparty Credit Assessment – Undertake detailed credit risk analysis to produce credit reports on existing and prospective clients (in conjunction with Line 1&2 partners). This includes financial analysis, financial modelling, PD and LGD rating assessment, and identifying the strengths and weakness of a business and the associated key risks and mitigants.
• Structuring, Collateral & Documentation – Assess transaction structures and negotiate credit risk enhancements and mitigation. Take active role in facility documentation (including ISDA/CSA).
• Policy, Governance & Compliance – Ensure adherence to internal credit policies, risk frameworks, and regulatory requirements. Contribute to policy updates and risk appetite reviews. Challenge Line 1 views and requests where appropriate.
• Credit Recommendation & Decisioning – Prepare credit recommendations and present analysis to the Senior Manager and other senior credit stakeholders. Exercise personal delegated authority.
• Stakeholder Management – Close collaboration with Coverage, Product, Legal, and senior management in London and other key jurisdictions (Sydney, New York, Amsterdam, Singapore). External engagement with clients and other important stakeholders (e.g. rating agencies, geopolitical risk agencies, external legal counsel).
• Portfolio Monitoring & Reporting – Track credit quality changes of individual counterparties, portfolio, and at the macro level. Highlight emerging risks and portfolio trends. Recommend risk mitigation strategies of deteriorating credits. Produce quarterly portfolio reports for senior management, and undertake industry research and analysis.
• Maintaining Data & Models – Inputting and maintaining data, models, and systems used to support analysis and identify, monitor, measure, and manage credit risks across the portfolio.
• Continuous Improvement – Contribute to enhancements in the risk management framework, including analytical techniques, report writing and structure, and policy and process. Provide support in the implementation of credit risk management projects.

We are interested in hearing from you if you have:

• 5+ years experience and significant knowledge in credit risk management in institutional banking.
• Strong financial analysis and modelling skills.
• Proficiency with risk systems, rating models, financial databases, and analytical tools.
• Product and documentation knowledge across corporate lending, structured finance, and derivative products. 
• Strong interpersonal skills and communication, negotiating skills, ability to challenge constructively, problem solving and critical thinking.
• Specific experience in commodities and natural resources sectors is advantageous.
• Bachelor degree (or equivalent) in a finance or economics related discipline.
• Demonstration of a high level of career / on-the-job training (through external providers or in-house at major financial institutions).