Head of Credit Risk

Houston, TX 77002

Posted: 01/25/2024 Industry: Energy-Middle Office Job Number: 1770

Job Description

A competitive integrated energy company seeks an experienced Head of Credit Risk to lead a global team that monitors counterparty and credit exposure for their portfolio of customers. This role will oversee credit risk related to wholesale crude oil and refined products trading, supply/refineries, the retail gasoline brand, and gas/power trading. The position can be based in Houston or Calgary.

This team is responsible for:
  • Designing and implementing credit and liquidity risk strategies that include an assessment of companies, transactions, competition, and other industry factors,
  • Establishing and reviewing credit limits for trading counterparties, supporting daily collateral and exposure management for trading, managing contracts (letters of credit, guarantees, insurance), monitoring customer aging reports, monitoring credit and payment history, and credit scoring,
  • Continuing to build out best practice processes and systems for the credit risk team,
  • Creating credit score models that track counterparty credit limits and risks,
  • Evaluating the credit risk of complex structured deals, 
  • Ensuring counterparty transactions comply with credit risk policies and procedures,
  • Assisting in the negotiation of credit agreements,
  • Proactively engaging and communicating with counterparties, 
  • Managing a portfolio of credit exposures and reporting on concentration risk,
  • Performing stress tests and modeling potential future exposure (PFE) and Credit Value-at-Risk (CvaR) for the credit portfolio, and
  • Communicating credit and liquidity risk analytics KPIs to senior management and key stakeholders.

Educational and professional requirements include a bachelor’s degree in Finance, Accounting, or a related field (Master/MBA preferred); 10+ years’ experience with credit risk in a physical energy trading organization (crude oil or refined products strongly preferred) at an integrated oil/gas company, merchant energy trading firm, or the commodities division of an investment bank; 10+ years of demonstrated leadership experience and managing a team; a deep understanding of credit and liquidity reporting and control inclusive of counterparty, contract, collateral and exposure management, and credit scoring; experience with risk measures and credit risk analysis tools (PFE, CvaR); experience negotiating contracts; ability to lead and influence relationships with counterparties and internal stakeholders; strong financial modeling skills and fluency with financial statements (including the ability to analyze capital structure, profitability, and cash flow); and excellent communication skills.

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