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Manager, Counterparty & Credit Risk Management job in Andover at # of Openings

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Manager, Counterparty & Credit Risk Management at # of Openings

Manager, Counterparty & Credit Risk Management

# of Openings Andover, MA Full Time
Who We Are

Enel is a globally recognized leader in sustainable energy and is consistently named one of Fortune Magazine’s “Companies that are Changing the World.” It is also one of the largest and most trusted energy companies in the world, serving around 70 million customers in more than 30 countries across 5 continents. The Enel Group vision is about Open Power. Open Power means opening energy access to more people; opening the world of energy to new technologies; opening new ways for people to manage energy; opening new uses of energy; and opening more partnerships. These are ambitious goals and we are pursuing them with the passion of more than 65,000 people whose brilliant work is based on our values of Responsibility, Innovation, Trust and Proactivity. At Enel North America, our businesses are leading the energy transition, creating the sustainable energy solutions of the future to help individuals, businesses and communities change energy into lasting value.

The Opportunity:

Enel is currently seeking a Manager, Counterparty & Credit Risk Management that will focus on gathering, analyzing and interpreting all types of credit information and analytics on existing and prospective counterparties. This Manager, Counterparty & Credit Risk Management will make recommendations and decisions regarding the extension of credit, liaising with Global Credit team in Rome. Their primary goal is to investigate and analyze credit, credit risk and reputational risk. This person should be self-directed with a proven track record of success implementing best practices into existing operations and a solid quantitative background. He or she will report directly to the Head of Credit & Business Operations USA & Canada and will work closely with Front and Middle Offices, Commercial Office, our Security, Legal and US Treasury groups as well as international colleagues from Rome.

What You'll Do at Enel:

Responsibilities include, but not limited to:

  • Investigate, review, analyze and evaluate the financial risk/reward of extending credit to existing and potential counterparties based on established policies.
  • Obtain information about potential creditors/customers from banks, credit bureaus, and other credit services.
  • Acquisition of counterparty financial and non-financial information to facilitate ‘global’ credit assessment of all customer relationships.
  • Constantly evaluate risk, set credit limits and monitor customer’s financial condition and alert appropriate team members when issues arise.
  • Evaluate and interpret credit data to grant customers credit lines to minimize financial risk.
  • Manage, schedule, and track the completion of a comprehensive credit analysis for all customer relationships, consistent with our credit policy and requirements.
  • From a credit and guarantee instruments perspective, analysis and negotiation of the main Master Agreements (ISDA, Credit Support Annex, Cross Product Master Agreement, EEI, NAESB).
  • Current deal structures include, but are not limited to, physical and financial power and gas transactions, derivatives instruments, and other complex deal structures.
  • Manage the Know Your Customer process, sponsoring KYC documentation submitted for KYC committee approval.
  • Manage Credit Committee process.
  • Provide guidance to others concerning the structuring of credit and limits.
  • Provide strategic summaries of the economic outlook and track and monitor credit ratings.
  • Management of relationship with counterparties.
  • Maintain and manage internal and external Letters of Credit and Parent Company Guarantees.
  • Development of methodology for calculating various credit metrics and exposures – Credit Value Adjustment (CVA), Expected Exposure (EE), Potential Future Exposure (PFE) and MAX PFE, Expected Loss (EL) and Unexpected Loss (UL), Credit Value at Risk (CVAR), etc. 
  • Development, adoption and implementation, and documentation of models and tools for credit metrics calculations.  
  • Stay abreast of industry and credit conditions influencing creditworthiness of counterparties.
  • Build and maintain models to proactively predict upcoming posting obligations as well as incoming margin demands, stress test portfolios for both credit and liquidity risk as it relates to ISOs/RTOs, exchanges and bilateral counterparties.  
  • Deliver a monthly credit reporting and monitoring package (at counterparty and portfolio level).
  • Develop a daily/weekly credit reporting for all counterparties.
  • Comply with all applicable federal, state, and local regulations.
  • Dunning activity.
  • Develop and maintain relationships with internal and external counterparties.
  • Provide support for projects, market compliance, regulatory filings, etc.
  • Expected to follow standard business practices and operational policies in selecting methods and techniques for obtaining solutions.
  • Collaborate with various groups across the company to solve ad hoc problems.
  • Position has direct subordinate supervision responsibilities.

Who You Are:

  • Excellent analytical, organizational, math, problem solving and financial modeling skills.
  • Excellent sales, negotiation, problem solving, and time management skills.
  • Ability to travel up to 10% domestically or internationally.

What You've Accomplished:

  • Bachelor’s Degree in Accounting or Finance, Economics, Math or Statistics.
  • 6+ years' experience in a risk management, corporate or commercial credit environment.
  • Ability to analyze corporate tax returns, financial statements and assess net worth, liquidity and cash flow capacity.
  • Knowledge of fundamental risk factors associated with energy industry sector.
  • Ability to effectively communicate credit concerns to team members and senior management.
  • Ability to identify and understand patterns and inter connectivity of relevant data (i.e. internal forecasts, customer data, marketplace information, macroeconomic information, industry trends, and future business trends) to forecast cash flows.

What Enel Offers You:

•A rapidly growing yet well-established business, •Ability to work with employees from many different cultures and backgrounds., •Benefits and rewards that support the life and well-being of you and your family., •One of the world’s most recognizable and respected brands in the energy industry that believes by working together we can create a new energy era in which the world can become more sustainable., •Opportunity to grow and develop your career with the support and mentorship of senior leaders., •Various forms of flexibility to help you integrate your life with your professional commitments.

Notice to Recruiters & Staffing Agencies

Enel North America has an internal talent acquisition department and designated career site for individuals looking to join our team. Enel North America will not accept unsolicited resumes from any external recruiters, staffing firms, search agencies or any fee-based referrals. Any unsolicited resumes sent to directly to Enel North America, in any capacity will be considered property of Enel North America. This policy is applicable to all Enel North America locations and will be the responsibility of third parties and vendors to understand this policy. Enel North America will not pay a fee for any placement resulting from the receipt of an unsolicited resume.

EEO Statement

Enel North America is dedicated to providing equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, gender, national origin, citizenship, age, disability, sexual orientation, genetic information. We will not discriminate, in any employment decision, against any individual or group on the basis of race, color, religion, sex, gender, national origin, citizenship, age, disability, sexual orientation, genetic information, or veterans/national guard/military reserve status. This shall be done in compliance with all applicable federal, state, and local laws in every location in which Enel North America has facilities. Accessibility – If you require accessibility assistance applying for open positions please contact [ Email address blocked ] .

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Job ID: 2021-7806

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