Manager, Credit & Energy Risk

What The Role Is

The Manager of Credit and Energy Risk will reside within the middle-office function and play a key role in the risk management of energy marketing and trading activities across Clearway’s portfolio of renewable and conventional generation assets. This position is responsible for counterparty credit risk management and compliance with risk policies and covenants in commercial agreements. The Manager will ensure that Clearway maintains 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 is a highly visible role for a detail-oriented individual to excel within a growing risk management group.

The position will report to the Senior Director of Credit and Energy Risk. This is a hybrid position located in one of our office locations in San Francisco, CA, Scottsdale, AZ, San Diego, CA, and Houston, TX.

If you don’t meet 100% of the qualifications but see yourself contributing, please submit your resume

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.
• Collaborate with other groups in conveying the appropriate “tone at the top” of prudent risk management of Clearway’s operating generation assets, including advancing training initiatives and establishing a greater fluency in risk concepts among Clearway’s professionals that facilitates a strong risk management culture within the enterprise.
• 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.
• Work collaboratively with front-office and back-office staff to achieve productive outcomes for the enterprise – able to identify risk in proposed transactions and undertake prudent/reasonable risk mitigations for a proposed course of action. To be viewed by peers as a ‘problem solver’ as opposed to a ‘roadblock’.
• Create dashboards that present positions and exposures for Clearway: a) credit exposures including mark-to-market of energy hedges; b) Value at Risk; c) scenario/sensitivity analysis; d) outcomes of stress testing.
• Oversee the creation and ongoing management of Project Limits for specified projects that will serve to establish the parameters and limits for products that can be executed by the Front Office.
• Report credit exposures, positions, risk assessments, operational risk issues, and performance in a timely and accurate fashion for presentations going to senior management and other members of the Energy Risk Committee.
• Prepare risk issues that require approval of the Energy Risk Committee at committee meetings, maintain current and prior versions of the Policy, and facilitate the annual Policy review process.
• Serve as an active participant in Clearway’s 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.
• Coordinate with the Senior Director on reporting incidents of non-compliance, including limit violations and policy violations.

What You'll Bring

• Bachelor’s Degree in economics, finance, business, mathematics, or a related discipline.
• 5+ years of credit risk experience in an energy trading or commodity environment.
• Solid credit analytical skills with experience negotiating energy-related agreements (ISDAs, EEIs, PPAs) and underlying collateral, including parental guarantees and letters of credit.
• Thorough understanding of exposure calculations (MTM, PFE), trading instruments, and hedging.
• Strong communication skills; able to relay complex issues in a digestible, executive-level format.

What Would Be Nice

• Direct renewable energy experience.
• CPA/CFA designation (or progress towards).
• Advanced Excel skills, PowerBI reporting, and Bloomberg.

Clearway will not sponsor non-immigrant visas for this position (H-1B, TN, E-3, etc.).

#LIHybrid

Clearway Energy Group is leading the transition to a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., our portfolio comprises approximately 11.6 GW of gross generating capacity in 26 states, including 9.1 GW of wind, solar, and battery energy storage assets, and over 2.5 GW of conventional dispatchable power generation providing critical grid reliability services. As we develop a nationwide pipeline of new energy projects for the future, Clearway’s operating fleet generates enough reliable electricity to power more than 3 million homes today. Clearway Energy Group is headquartered in San Francisco with offices in Denver, Houston, Phoenix, Princeton, and San Diego. For more information, visit clearwayenergygroup.com.

Our Commitment to Diversity, Equity, & Inclusion
Clearway Energy Group’s vision is a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., our portfolio comprises approximately 11.8 GW of gross generating capacity in 26 states, including 9.1 GW of wind, solar, and battery energy storage assets, and over 2.8 GW of flexible dispatchable power generation providing critical grid reliability services. As we develop a nationwide pipeline of new energy projects for the future, Clearway’s operating fleet generates enough reliable electricity to power more than 2 million homes today. Clearway Energy Group is headquartered in San Francisco with offices in Denver, Houston, Phoenix, Princeton, and San Diego. For more information, visit clearwayenergygroup.com.

Working at Clearway, Hybrid Together
Here at Clearway, we’re committed to balancing flexibility while fostering strong relationships with our teammates. We do this by prioritizing new hires based near one of our offices in San Francisco, San Diego, Scottsdale, Houston, Denver, & Princeton. Our office-based employees typically work together from fabulous spaces on Tuesdays & Thursdays to collaborate & learn, build community, get to know one another, & enjoy company-provided meals & events.

Clearway Energy is an equal opportunity employer that values a broad diversity of talent, knowledge, experience & 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 & protected veterans to join the team. Clearway is a proud promoter of employment opportunities for our Military & Veterans.

What We Provide
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.

Notice to Applicants
Clearway Energy is strongly committed to a philosophy of equal opportunity and fully complies with equal employment laws, ordinances, and regulations for all applicants and employees. We will make reasonable accommodations to enable individuals with disabilities to apply and compete for employment opportunities for which they are qualified. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to recruiting@clearwayenergy.com and let us know the nature of your request and your contact information.

Notice to California Applicants
Clearway Energy is strongly committed to a philosophy of equal opportunity and fully complies with equal employment laws, ordinances and regulations for all applicants and employees.