Senior Credit Risk Analyst
Centrica Energy Marketing and Trading (EM&T) is the face to the traded markets for Centrica in natural gas, electricity and renewables across Europe and globally for LNG. Its role is to enhance value through asset optimisation, commodity trading and risk management. This activity gives rise to aggregate credit exposures to counterparties that may reach £2 billion or more.
The Risk team is a key function for Centrica providing independent oversight of trading and support to the business around key commercial decisions. This enables Risk to be managed in line with Centrica’s policies and principles.
The Senior Credit Risk analyst reports into EM&T’s Head of Credit, and will be part of a team of 5 specialists and a wider team of 17 risk analysts and managers. The role requires providing analysis on standard and structured transactions, investigating and solving problems, reporting, managing and controlling the risks associated with the businesses diverse activities.
- Location: Central London (West End), travelling infrequent but sometimes required
The Senior Analyst, as part of the credit risk team investigates and resolves challenges relating to:
- Proposed transactions,
- Creates and maintains models to understand potential credit risks (e.g. Potential Future Exposure),
- Understands risk metrics,
- Can analyse the financial strength of trading counterparties from the credit perspective,
- Manages counterparty relationships, involving face-to-face, telephone and written communications.
- Understands the rules relating to grids, networks and exchanges that we utilize,
- Provides insight and analysis of key market trends, actively participates in the risk discussion
- Produce reporting and execute margin calls as part of a monthly rotation with other team members.
- Ability to cover for other team members
Credit supports the Risk vision: To effectively support Centrica’s strategic objectives by enabling transactions from the credit perspective, independently identifying and assessing financial risks in line with the firm’s agreed risk appetite.
- Credit risk is involved in the majority of all energy transactions undertaken by Centrica Energy across all commodities. For example, agreeing bilateral trading terms for a gas trading relationship, calculating the financial risk of a transaction or portfolio, structuring the credit support for a long term power offtake agreement or supporting the construction of a power station, counterparty risk in a wind farm or exploration for oil and gas, define credit terms and policy in a merger and acquisition, credit structuring for a long term LNG purchase, spot LNG cargo transaction.
- Your role is to manage credit risk by adapting and understanding in each situation:◦Discuss the transaction with the front office and other teams involved.
- Understand the transaction.
- To quantify the potential credit risks? Potential Future Exposure? Expected Loss?
- Identify the counterparty. Analyse the financial strength using quantitative and qualitative research and analysis.
- How does the counterparty fit within the Centrica plc Credit Risk Policy?
- To recommend and negotiate acceptable credit terms (e.g. payment, credit support, liquidity impact).
- To ensure the resulting credit exposure can be measured and monitored. Develop and enhance systems, models and processes.
- Provide input in trading documentation and risk mitigation instruments
- Manage key credit data.
- Present hot topic analysis to the EM&T’s Financial Risk Committee and seek exceptions if required.
- Guide and support other team members who have different knowledge or experience.
- Very good communicator, engaging with small audiences and on a one-to-one situations. Ability to develop strong relationships with internal customers and stakeholders across the organization.
- Understand of risk metrics in energy trading.
- Counterparty credit analysis skills are highly desirable, but are not a pre-requisite as long as you have the potential to learn.
- Strong analytical ability, inquisitive. A good eye for detail and logical approach to problem solving.
- Self motivated and able to work autonomously and as part of a team.
- Ability to think and react quickly to changing situations.
- Create a safe and positive environment
- Desire to learn, share knowledge, develop and adapt to a changing and evolving environment.
- Excel, Intermediate to Advanced. Ability to use or model macros is desirable.
- Ambitious, results driven high performer.
- University level, with a degree in a business or in a quantitative discipline.
- Fluent in English with very clear, concise and effective written and verbal communications skills.
- In a trading environment is required. Ideally in the Energy or other Commodities industry.
- In a team with interaction across different departments is required.
- Analysing data and solving problems, building calculations on structured transactions is required
- In contact with external counterparties is desirable.
Centrica plc, a FTSE 100 company, has operations in UK, North America and Europe. With 30+ million customer-product relationships, Centrica's vision is to become the leading integrated supplier of energy and related services for its chosen markets and maximise value to shareholders. Centrica's brand names include British Gas, Direct Energy (North America). At Centrica, our purpose is to help people today and secure energy for tomorrow.
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Agencies: Centrica operate a preferred supplier arrangement, however if you wish to be considered at the next review session please submit a brief overview of your capability to PSL@centrica.com
• Salary: £55k - £80k, plus benefits (depending on experience)