What The Role Is
The Senior Analyst of Credit and Energy Risk will help manage risks in energy marketing and trading activities across Clearway’s portfolio of renewable and conventional generation assets. This position performs counterparty credit risk analysis and works to ensure compliance with risk policies and covenants in commercial agreements. The Senior Analyst will help Clearway maintain 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 position will report into the Director of Credit and Energy risk, who oversees the “Middle Office” function at Clearway.
*This job posting is open to multiple locations but represents one available position*
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.
+ 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.
+ Create and maintain dashboards that present positions and exposures for Clearway including: a) credit exposures including mark-to-market of energy hedges; b) Value at Risk; c) scenario / sensitivity analysis; d) outcomes of stress testing.
+ Report credit exposures, positions, risk assessments, operational risk issues and performance in a timely and accurate fashion to senior management and members of the Energy Risk Committee.
+ Work collaboratively with Front Office and Back Office staff to achieve productive outcomes for the enterprise. To be viewed by peers as a ‘problem solver’ as opposed to a ‘roadblock’.
+ Review forward market price and volatility curves used by the Front Office for transaction and portfolio valuation.
+ Prepare materials for the Energy Risk Committee, help maintain current and prior versions of the Energy Risk Management Policy and assist with the annual Policy review process.
+ Participate in Clearway’s Energy Trading and Risk Management (“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.
+ Maintain confidentiality and sensitivity with respect to all functions of DEI
What You'll Bring
+ 2 - 4 years of experience with risk management of commodities with a preference towards power, natural gas, RECs and related products (heat rate call options, revenue puts, congestion revenue rights, basis swaps).
+ Familiarity with credit support instruments including guarantees and letters of credit.
+ Basic understanding of forwards, futures, swaps, and options.
+ Solid communication and presentation skills, particularly in conveying highly analytical work and conclusions to senior leadership – able to explain not only what the analysis is, but what the takeaways and conclusions are.
+ Unquestioned integrity – possessing the conviction to express opinions, even if unpopular, and to do the right thing.
+ If you don’t meet 100% of the above qualifications but see yourself contributing, please submit your resume.
What Would Be Nice
+ CFA (or progress towards a CFA) or CPA a plus
+ Experience working in a financial institution, independent power producer, energy trader or similar enterprise is preferred.
+ Ideally have some familiarity with non-recourse project debt structures and associated security / collateral.
+ Experience working with Energy Trading and Risk Management (“ETRM”) systems is preferred.
+ Ideally have some experience in cleared markets, ISO markets, and OTC markets negotiating ISDAs, credit support annexes, EEIs, NAESBs, and other enabling agreements that govern energy commodities, products, and instruments.
**Clearway will not sponsor nonimmigrant visas for this position (H-1B, TN, E-3, etc.).**
What We'll Bring
**About Clearway Energy Group**
Clearway Energy Group is leading the transition to a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., we own and operate more than 8 gigawatts of renewable conventional energy assets across the country. As we develop a nationwide pipeline of new renewable energy projects for one future, Clearway’s 6.9 gigawatts of operating wind, solar, & energy storage assets offset the equivalent of more than 10.5 million metric tons of carbon emissions for our customers today. Clearway Energy Group is headquartered in San Francisco with offices in Carlsbad, CA; Scottsdale, AZ; Houston, TX; Denver, CO & Princeton, N.J. For more information, visit clearwayenergygroup.com.
**Our Commitment to Diversity, Equity, & Inclusion**
At Clearway, we create a community that isn’t about being the same – it’s about building a team of unique individuals, with different backgrounds and skill sets, coming together to build something big and make a difference in the world.
Clearway is an equal opportunity employer that values a broad diversity of talent, knowledge, experience, and expertise. We intentionally foster a culture of inclusion that empowers our employees to deliver superior performance to the communities we serve. We encourage minorities, women, individuals with disabilities and protected veterans to join the team. Clearway is a proud promoter of employment opportunities to our Military and Veterans.
**Working at Clearway, Hybrid Together**
Here at Clearway, we’re committed to balancing flexibility while fostering strong relationships among our teammates. How do we do that? We prioritize new hires based near one of our offices in San Francisco, Carlsbad, Scottsdale, Houston, and Princeton. Our office-based employees typically work together from fabulous spaces on Tuesdays and Thursdays to collaborate & learn, build community, get to know one another, and enjoy company-provided meals and events.
**What We Provide**
The salary range for this position is $89,000 to $125,000 and is eligible to earn an annual cash bonus, subject to personal and company performance goals. The pay rate for the successful candidate will depend on geographic location, skills, relevant and demonstrated experience, education, training and certifications, and other factors permitted by law.
Clearway offers all eligible employees working 20+ hours per week a comprehensive menu of benefits: generous PTO, medical, dental & vision care, HSAs with company contributions, health FSAs, dependent daycare FSAs, commuter benefits, relocation, & a 401(k) plan with employer match, a variety of life & accident insurances, fertility programs, adoption assistance, generous parental leave, tuition reimbursement, & benefits for employees in same-sex marriages, civil unions & domestic partnerships. For more on Clearway benefits, visit our Benefits Website (https://benefitsatclearway.com/) .