Demurrage Senior Negotiator

Kuala Lumpur
Permanent
Full-time

14 days ago

Entity: FinanceJob Family Group: Supply & Trading GroupJob Description:As a leading global energy company, we provide heat, light and mobility to customers worldwide. Across the bp landscape, we’re home to a range of brands across many areas of our industry. We’re investing in today’s energy system and helping build out tomorrow’s. So, while we’re still in oil and gas, over the next decade we’ll become a different kind of energy company. We’re decarbonizing and diversifying our business, fundamentally transforming what we do so we can reach net zero by 2050 or sooner. We also have a strong mission to help the whole world reach net zero too – working across our industry to improve people’s lives.It's an exciting time to join bp. Meeting the energy challenge requires many different approaches and solutions. And as part of finance business & technology (FBT), you’ll be fully connected into the world of bp. You’ll play an increasingly important part within a network of like-minded colleagues partnering on strategic projects that stretch across the globe. And it starts with you. There’s a world of opportunities to build new skills, challenge yourself and grow a long-term career at FBT Malaysia. And no matter where you work, your role will have meaning, purpose and impact. So, if you want to be part of a caring, supportive environment where you can realize your full potential, we’re with you.Join our Supply, Trading & Shipping (ST&S) team and advance your career as a/an
Demurrage Senior Negotiator.The Demurrage Team provides an outstanding service to Trading & Shipping for handling demurrage and shipping related ancillary charges. We are experts for vessels and barges in the calculation and payment of freight, calculation and negotiation of demurrage claims, calculation, and negotiation of related shipping costs such as deviation, detention, port costs etc., and the interpretation of the contract clauses to minimize exposure to claims wherever possible.The Demurrage Lead Negotiator is responsible for managing a portfolio of demurrage claims and post fixture expenses. This involves payment of freight and handling demurrage and expense claims resulting from contracts with owners, oil majors and trading companies. Working in close co-operation with the Trading & Shipping community to provide analytical information and guidance to the trading benches, to reduce the risk of demurrage exposure and optimize demurrage prevention to ultimately improve trading profits.In this role You will:

Acts as the first point of escalation for technical queries within your sub-team.
Support the Demurrage Team Leader to develop capability, including recruitment, coaching and training.
Identify and drive continuous improvement activity working with key stakeholders.
Review ways of working to drive the process optimization and a focus on delivering value.
Manages a portfolio of barge/vessel claims in a detailed way to ensure time bars are not missed, meaningful responses are provided to counterparties, rigors negotiation is undertaken, and claims are closed in a timely manner.
Support the team in the more complex claims and where required liaise and seek participation from the demurrage technical expert.
Actively assist in the design and development of the systems that the business will be implementing for the future benefit of the group. Your expertise may be used to support and test new releases to ensure any system is fit for purpose.
Calculation, preparation, verification of freight, contract shipping expenses and demurrage claims/invoices in accordance with oil trading contracts, general terms, and conditions and charterparty terms.
Ensuring strict adherence to various contractual/charterparty time bar clauses, minimizing BP’s commercial loss.
Responsible for demurrage, freight, and expenses on behalf of selected BP group companies.
Investigation and collation of the facts and data gathered from Traders, Operators, Charterers, Legal and Tax Advisors to fully assess each individual demurrage claim.
Negotiation of disputes with Group companies or Third parties using email, telephone, and face to face negotiation. Improving the value of each claim for bp within the context of ongoing relationships.
Developing and maintaining relationships with 3rd parties including trading companies, vessel/barge owners and brokers. Leverage these relationships to aid BP group and demurrage negotiation.
Hold commercial relationships and manage complex negotiations with external counterparties to improve value recovery and advance bp’s interests.
Appropriately assigned costs to relevant benches to ensure accurate profits and losses are reflected, collaborating with Settlement and Commodity Risk teams to ensure this is done in a correct and timely manner.
Provide detailed analytical assessments on a regular basis of outstanding claims/costs to trading benches and commodity risk.
Identify improvement opportunities, provide feedback, and work with traders, operators, and contracts team to optimize efficiency, improve contractual terms and create demurrage prevention.
Review ways of working to drive the process optimization and a focus on delivering value.
Provide commercial assistance to the oil and ship operators, oil traders and ship charterers. Ensure lines of communication with key collaborators are maintained and applied as required.
Provide training and develop awareness of Demurrage activity and value to the team and across the Refining & Products Trading business.
Ensure compliance with all BP policies and procedures including Shipping policy and credit requirements.
Work collaboratively across the Demurrage team to support team delivery.
Ensure systems data is updated accurately and supervise data flows – flagging where concerns are raised.
Perform a quarterly audit for claims across the Team including the STP agreements.

What You will need to be successful:foundation skills:

Relevant university (economy or finance) degree
Minimum of 3-4 years of experience in finance or trading, or shipping
Global/ multi-national company work experience is an advantage.
Knowledge about the trading or shipping industry, physical oil environment.
Passion for continuous improvement and ability develop capability with team members.
Fluent English knowledge and ability to communicate effectively verbally and in writing
Good analytical & technical skills (MS Office), strong numerical, written and oral skills
Good attention to detail, ability to prioritize, organize and multi-task
Good problem solving, communication and interpersonal skills
Strong commercial instinct – a focus on delivering holistic value for BP.
Negotiation skills and ability to hold external relationships.
Flexible and open thinker
Ability to influence
Ability to work under pressure to numerous and frequent deadlines
Ability to identify and embed best practice and cross bench consistency
Performance Bias - focuses efforts and prioritizes work to deliver business value

Why join us?At bp, we support our people to learn and grow in a diverse and challenging 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, paid parental leave policy among others! We will ensure that individuals with disabilities are provided reasonable adjustment to participate in the interview process.Travel Requirement No travel is expected with this roleRelocation Assistance: This role is not eligible for relocationRemote Type: This position is a hybrid of office/remote workingSkills: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 an accessibility need may request an adjustment/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 adjustment/accommodation related to the recruitment process, please .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.

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