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Principal Credit Analyst (Wholesale Energy Credit)

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Date: Jul 31, 2022

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

Company: NextEra Energy

Requisition ID:  62096 

 

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 Principal Credit Underwriter 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 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 Principal Credit Underwriter is responsible for implementing 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 Principal Credit Underwriter has no direct reports but is responsible for training and development of credit underwriters on the team.

 

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 Principal Credit Underwriter performs fundamental credit risk assessments of counterparts across a diverse portfolio of counterparts in the wholesale energy markets. She/he 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. She/he implements 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 superior counterparty risk assessments

  • 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 proposes risk tolerance levels in accordance with NextEra’s risk policies

  • Supports the internal deal approval processes including preparing credit approval memos in partnership with the commercial, legal and finance teams

  • Proposes credit, collateral and contract recommendations based on fundamental counterparty credit risk assessments

  • Proposes internal shadow credit ratings

  • Prepares 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

  • Continuously improves the robustness of risk systems, models, reports and other IT tools

  • Performs other job-related duties as assigned

 

Required Qualifications / Experience

  • You demonstrate expert knowledge of counterparty risk management applied to wholesale energy transactions (oil, gas, power, LNG, solar, wind and batteries etc.)

  • 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

  • Strong 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 (6+ 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

Employees in this role perform analytical modeling to assess and minimize the company's exposure to credit risk, negotiation of transactional documents, counterparty credit risk assessment and scoring. The successful candidate develops reliable and timely risk management solutions for a complex portfolio of credit, liquidity and contingents risks. Individuals in this role identify, analyze and mitigate current and emerging risks from the applicable portfolio. In this position, employees are responsible for supporting the Manager of Credit Risk and are accountable for the credit and liquidity risk management of a dynamic portfolio of counterparts engaged in the North American wholesale energy markets for NextEra Energy Resources. Employees in this position act as a key subject matter expert in the NextEra credit risk management team.

Job Duties & Responsibilities

  • Delivers robust fundamental credit risk analysis assessments of counterparts in a range of industry verticals including generating shadow ratings using best-in-class credit rating models
  • Proposes sensible credit limits for transactions with counterparts
  • Manages a large portfolio of counterparts including exposure analysis, annual reviews, limit management, portfolio surveillance and derisking solutions
  • Partners with the commercial teams to negotiate transaction structures as well as master agreements
  • Works with a range of insurance companies / banks to deliver credit risk mitigation options to support business development
  • Acts at times as a multiplier by supporting and coaching more junior members of the team
  • Performs other job-related duties as assigned

Required Qualifications

  • Bachelor’s Degree
  • Experience: 6+ years

Preferred Qualifications

  • Master’s - Business Administration
  • Chartered Financial Analyst (CFA)

 

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.

 


Nearest Major Market: Palm Beach
Nearest Secondary Market: Miami

Job Segment: Energy