Credit Risk Officer jobs in Carlsbad, CA

What The Role Is

The Manager of Credit and Energy Risk will reside within the middle-office function and play a key role in the risk management of energy marketing and trading activities across Clearway’s portfolio of renewable and conventional generation assets. This position is responsible for counterparty credit risk management and compliance with risk policies and covenants in commercial agreements. The Manager will ensure that Clearway maintains a risk-oriented mentality as the platform expands into new technology and dynamic market structures, by understanding current and emerging risks across all North American wholesale energy markets. This is a highly visible role for a detail-oriented individual to excel within a growing risk management group.

The position will report to the Director of Credit and Energy Risk.

What You'll Be Doing

• Assess initial and ongoing creditworthiness of counterparties, establish credit lines with counterparties, ensure that appropriate bilateral collateral and credit support arrangements are in place with such counterparties and ISOs, and oversee daily margin calls.
• Collaborate with other groups in conveying the appropriate “tone at the top” – of prudent risk management of Clearway’s operating generation assets, including advancing training initiatives and establishing a greater fluency in risk concepts among Clearway’s professionals that facilitate a strong risk management culture within the enterprise.
• Assist the Front Office functions (energy management, origination) with pre-transaction compliance, negotiation, administration, and maintenance of commodity-enabling agreements with counterparties, brokers, futures commission merchants, commodity exchanges, and third-party service providers.
• Work collaboratively with front-office and back-office staff to achieve productive outcomes for the enterprise – able to identify risk in proposed transactions and undertake prudent/reasonable risk mitigations for a proposed course of action. To be viewed by peers as a ‘problem solver’ as opposed to a ‘roadblock’.
• Create dashboards that present positions and exposures for Clearway: a) credit exposures including mark-to-market of energy hedges; b) Value at Risk; c) scenario/sensitivity analysis; d) outcomes of stress testing.
• Oversee the creation and ongoing management of Project Limits for specified projects that will serve to establish the parameters and limits for products that can be executed by the Front Office.
• Report credit exposures, positions, risk assessments, operational risk issues, and performance in a timely and accurate fashion for presentations going to senior management and other members of the Energy Risk Committee.
• Review forward market price and volatility curves used by the Front Office for transaction and portfolio valuation.
• Prepare risk issues that require approval of the Energy Risk Committee at committee meetings, maintain current and prior versions of the Policy, and facilitate the annual Policy review process.
• Serve as an active participant in Clearway’s ETRM vendor review, selection, implementation, and integration initiative.
• Ensure that counterparty and contract information is recorded accurately in Clearway’s system of record in a timely manner.
• Coordinate with the Director on reporting incidents of non-compliance including limit violations and policy violations.

What You'll Bring

• Bachelor’s Degree in economics, finance, business, mathematics, or related discipline.
• 5 years of credit risk experience in an energy trading or commodity environment.
• Solid credit analytical skills with experience negotiating energy-related agreements (ISDAs, EEIs, PPAs) and underlying collateral including parental guarantees and letters of credit.
• Thorough understanding of exposure calculations (MTM, PFE), trading instruments, and hedging.
• Strong communication skills; able to relay complex issues in a digestible, executive-level format.
• If you don’t meet 100% of the above qualifications but see yourself contributing, please submit your resume.

What Would Be Nice

• Direct renewable energy experience
• CPA/CFA designation (or progress towards)
• Advanced Excel skills, PowerBI reporting, and Bloomberg

Clearway will not sponsor nonimmigrant visas for this position (H-1B, TN, E-3, etc.).