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Director Credit (Wholesale Energy Credit)

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Date: Jun 24, 2022

Location(s): Juno Beach, FL, US, 33408

Company: NextEra Energy

Requisition ID:  62631 

 

NextEra Energy Resources is one of the largest wholesale generators of electric power and renewable energy from the wind and sun in North America.

 

Position Specific Description

NextEra Energy Resources is currently seeking an experienced Director of Credit Underwriting to join our Risk and Credit Exposure Management team in Juno Beach, Florida. The Risk and Credit Exposure Management team supports various commercial teams within NextEra including the trade floor, origination and renewables development teams. The credit underwriting team is responsible for providing objective and comprehensive fundamental credit assessments of North American energy market counterparts across multiple sectors including IPPs, E&P, Oil and Gas Producers, Midstream, Chemicals Producers, Regulated Utilities, CCAs, Municipals, COOPs, Data Centers and Trading & Marketing Companies. These fundamental credit risk assessments are used to support the rationale for credit limit recommendations, transaction structuring as well as collateralization requirements. The Director is responsible for developing and improving appropriate credit strategies to manage counterparty credit risk arising from multiple physical and financial energy products including power, oil, gas, LNG and renewables (solar, wind, batteries etc.). The Director of Credit has several underwriters reporting into her/him.

 

Job Overview

This an exciting opportunity to join a best in class risk management team supporting one of the largest energy companies in North America. The Director of credit underwriting leads the team responsible for performing fundamental credit risk assessments of counterparts across a diverse portfolio of counterparts in the wholesale energy markets. The Director develops, recommends and implements best practices for credit underwriting approaches, credit limit management, collateral negotiations and structuring of large wholesale energy transactions across multiple commodities. The Director drives the vision, strategy and innovation for credit underwriting. She/he will provide analytically derived recommendations supported by a detailed understanding of risk and reward dynamics across NextEra wholesale market activities.

 

Job Duties & Responsibilities

  • Provides strong leadership of the counterparty risk assessment team
  • Leads, coaches and delivers training support to develop talent on the team
  • Participates in the Risk Committee and presents on emerging credit risk “special topics”
  • Partners with the trading, origination and development teams to generate appropriate counterparty credit risk mitigation strategies, policies and guidelines
  • Recommends and sets risk tolerance levels in accordance with NextEra’s risk policies
  • Manages the internal deal approval processes including preparing credit approval memos in partnership with the commercial, legal and finance teams
  • Reviews and approves credit, collateral and contract recommendations based on fundamental counterparty credit risk assessments
  • Reviews and approves internal shadow credit ratings
  • Reviews and approves counterpart cashflow model forecasts and stress testing analysis 
  • Identifies, monitors and mitigates emerging credit risks associated with counterparts in a range of industry verticals
  • Delivers clear and timely management updates and recommendations regarding emerging risks in the portfolio
  • Performs stress testing of the portfolio to identify concentration risks and recommends appropriate risk mitigation strategies
  • Negotiates key credit terms in legal documentation for master trading and bespoke agreements
  • Partners with commercial, legal and external counsel on troubled assets / workout situations
  • Creates partnerships with other parts of the organization to continuously improve the robustness of risk systems, models, reports and other IT tools
  • Performs other job-related duties as assigned

 

Required Qualifications / Experience

  • Director demonstrates expert knowledge of counterparty risk management applied to wholesale energy transactions (oil, gas, power, LNG, solar, wind and batteries etc.)
  • You are skilled at leading the credit due diligence process across multiple deals in various stages
  • You have a superior ability to analyze companies operating in various sectors and assess their strengths and weaknesses
  • Excellent working knowledge of rating agencies credit assessment approaches and models (S&P, Moody’s & Fitch)
  • Excellent understanding of Potential Future Exposure, CVaR, Expected Loss and LGD metrics
  • Expert knowledge of credit provisions in master trading agreements (ISDAs, NAESBs, EEIs, RECS, RINS) and other customer agreements (PPAs)
  • You demonstrate strong financial acumen, executive presence and professionalism to work in a team-oriented environment
  • You have strong written, verbal and presentation skills appropriate for C-suite
  • Bachelor's Degree in Business / Finance / Engineering / Mathematics / Accounting / Statistics (or other relevant degree)
  • You have previous professional experience (15+ years) with a bank, hedge fund, rating agency or commodity trade shop

 

Preferred Qualifications

  • Chartered Financial Analyst (CFA)
  • Energy Risk Professional (ERP)
  • Certified Public Accountant (CPA)
  • MBA
  • Formal bank credit training

 

Job Overview

Leaders in this role are responsible for the leadership and development the credit and liquidity risk teams that are accountable for the credit and liquidity risk management of a dynamic portfolio of counterparts engaged in the North American wholesale energy markets. This position is responsible for the strategic direction and risk management of the business. The successful candidate develops and delivers objective, reliable and timely risk management oversight too a complex portfolio of credit, liquidity and contingents risks. Individuals support the identification, analysis and mitigation of current and emerging risks from this portfolio.

Job Duties & Responsibilities


•   Develops and maintains effective credit risk standards ensuring all assets in the portfolio are adequately protected with minimal risk exposure
•   Enables market access and fundamental credit underwriting for the hedging, trading, sales, origination and infrastructure teams of NextEra Energy Resources in the North American wholesale energy markets
•   Builds strong partnerships with the commercial and legal teams to create and negotiate robust contractual / collateral structures that mitigate risks to NextEra Energy Resources
•   Enables the team to deliver clear and timely management updates and recommendations regarding emerging risks in the portfolio
•   Develops a platform for derisking counterparty credit risk in NextEra's wholesale portfolio
•   Establishes and/or authorizes credit limits and monitors credit exposure for routine and complex transactions
•   Establishes provisional limits for new counterparties while limiting credit exposure
•   Ensures approved credit risk policies and procedures are complied with and develop changes when warranted
•   Leads, coaches and delivers training support to develop her / his team members
•   Creates partnerships with other parts of the organization to strengthen the quality assurance of risk systems, models, reports and other IT tools as well as leveraging big-data to facilitate timely portfolio surveillance
•   Performs other job-related duties as assigned

Required Qualifications


•  High School Grad / GED
•  Bachelor's - Accounting / Finance

Preferred Qualifications


•  Partners in Performance Program
•  Effective Written Communications
•  Effective Verbal Communications
•  Master's - Accounting / Finance
•  Credit Management
•  Lotus Notes

 

Employee Group:  Exempt
Employee Type:  Full Time
Job Category:  Energy Trading
Organization:  NextEra Energy Marketing, LLC 
Relocation Provided:  Yes, if applicable

 

Where permitted by applicable law, NextEra Energy requires all employees and new hires to be fully vaccinated for COVID-19 or be willing to receive the COVID-19 vaccination on or before the first day of employment.

 

NextEra Energy is an Equal Opportunity Employer. Qualified applicants are considered for employment without regard to race, color, age, national origin, religion, marital status, sex, sexual orientation, gender identity, gender expression, genetics, disability, protected veteran status or any other basis prohibited by law. We are committed to a diverse and inclusive workplace.

 

NextEra Energy provides reasonable accommodation in its application and selection process for qualified individuals, including accommodations related to compliance with conditional job offer requirements, consistent with federal, state, and local laws. Supporting medical or religious documentation will be required where applicable and permitted by applicable law. To request a reasonable accommodation, please send an e-mail to recruiting-coordinator.sharedmailbox@nexteraenergy.com, providing your name, telephone number and the best time for us to reach you. Alternatively, you may call 1-844-694-4748. Please do not use this line to inquire about your application status.

 

NextEra Energy will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information.

 

NextEra Energy does not accept any unsolicited resumes or referrals from any third-party recruiting firms or agencies. Please see our policy for more information.

 


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Nearest Secondary Market: Miami

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