Credit Risk Analyst I
Department/Division: Risk Management | Location: Houston, TX
Reports Directly To: Director, Risk Management | FLSA Status: Non-Exempt
The Credit Risk Analyst I is responsible for the administration and performance of tasks related to the mitigation of counterparty risk in the Risk Management department. This position is responsible for adhering to MEMS’ Risk Management policy, practices, and procedures.
ESSENTIAL FUNCTIONS & RESPONSIBILITIES
- Gather financial statements, credit rating information, and other credit-related data from internal and external sources to manage the establishment of credit lines for MEMS’ counterparties.
- Manage outgoing and incoming security through parent guarantees, letters of credit, cash, and daily margining. Work closely with MEMS Finance Team to ensure collateral is received timely to cover credit exposure. Monitor collateral requirements from ISO
- Send and respond to KYC requests and other requests to establish counterparty relationship
- Work closely with Mitsui USA Legal Team to negotiate guaranty language, non-disclosure agreements, and other agreements.
- Produce and distribute the Daily Credit Risk Exposure Report. Monitor and investigate limit breaches as part of credit risk control.
- Work closely with Confirmations/Contracts team and Accounting to manage update and registration of counterparties in Allegro ETRM system and Oracle.
- Set up credit lines in Allegro and actively monitor credit limits in ICE trading platform.
- On a quarterly basis, administer the payment of parental guarantee fees and assist in the credit reserve calculation.
- Assist with other credit risk management activities as needed.
REQUIRED SKILLS & ABILITIES
- Highly motivated, self-starter with the ability to work independently with little to no supervision.
- Demonstrated ability to quickly adapt to an evolving and growing business.
- Must be able to identify issues and solve problems.
- Possess refined interpersonal verbal and written communication skills, including writing and telephone communication skills.
- Proficient in Microsoft Office, notably Microsoft Excel.
- Proficient or the ability to effectively demonstrate proficiency with appropriate training with third-party software licensed to the Company such as Allegro ETRM system.
EDUCATION & EXPERIENCE
- Bachelor’s degree in Business, Economics, or related field preferred or equivalent related work experience.
- Minimum 1 year of experience in Middle / Back Office in an energy trading company with experience in natural gas, power, and/or crude a plus.
- Experience in ERCOT and PJM a plus.
- Minimum 1 year of experience in Allegro or similar top-tier ETRM system a plus.
Fluent verbal and written skills in English.
WORK ENVIRONMENT & PHYSICAL DEMANDS
This job operates in a professional office environment and routinely uses standard office equipment such as computers, phones, photocopiers, and filing cabinets. Physical demands include:
Prolonged periods of sitting and may need to routinely move around to communicate with different groups
This position description is not to be construed as an exhaustive statement of duties, responsibilities, or requirements. Employees may be required to perform any other job-related instructions as requested by their leader, subject to reasonable accommodation.
MEMS is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, or disability.