EDF Trading is a leader in the international wholesale energy markets. It manages a portfolio of assets which give it the ability to source, supply, transport, store, blend and convert physical commodities around the world. These capabilities enable EDF Trading to deliver essential asset optimization services, risk management and wholesale market access to the EDF Group and its third-party customers, helping them to realize the value inherent in their asset portfolios.
EDF Trading is active in the electricity, natural gas, LNG, upstream gas, coal and freight, oil logistics and environmental products markets. It is one of the largest wholesale market traders in Europe for power and gas, one of the main providers of energy management services for power generation companies in the U.S. and the fifth largest marketer of natural gas in North America. It is one of the largest importers of coal into Europe and is a leading U.S. energy retailer for large commercial and industrial customers.
EDF Trading and EDF Energy Services have around 1000 employees with offices in the UK, Europe, Singapore, China, the United States and Canada.
This position resides in the Credit Risk Management department of EDF Trading North America and is part of the risk management function within the company. The Credit team is responsible for the management of all aspects of the credit risk mitigation effort including researching and analyzing new and existing counterparties to determine appropriate levels of exposure, negotiating and structuring of contracts and credit support arrangements, and monitoring and reporting of credit exposures and events. This position reports to the Head of Credit of EDF Trading North America.
- Interface extensively with front office personnel to gather information needed for credit due diligence on transactions and/or new counterparties.
- Ensure that all documentation required for trading, including master agreements and guarantees, are in place, active and appropriate for transactions being contemplated by front office.
- Provide oversight on work efforts of junior team members and/or contractors, providing guidance where needed to ensure quality of various credit processes.
- Perform financial statement analysis in order to assess the creditworthiness of trading counterparties and make recommendations as to appropriate credit limits and tenor restrictions.
- Analyze disclosures within the financial statements of counterparties to identify potential risks associated with counterparties’ liquidity, regulatory environment, debt maturity schedule, operations, etc. and make recommendations as to appropriate risk mitigants.
- Monitor counterparty exposures and provide updates to senior management.
- Perform financial analysis and credit modeling; prepare credit proposals and present results to management, including Local and Global Credit Committees, as part of credit approval process.
- Actively involved in the negotiation of credit terms in master trading and retail agreements.
- Actively involved in the negotiation of credit terms in structured transactions including but not limited to lock-box arrangements, lien-based structures, depository control agreements and other commodity financing structures.
- Monitoring, investigation and reporting of limit breaches.
- Provide timely response to internal and external credit risk queries.
Qualifications & Technical Requirements
- Minimum of 5 years working experience with all master trading agreements typical of the energy trading industry, including the ISDA, NAESB and EEI agreements.
- Strong familiarity with financial statements (including ability to analyze capital structure, profitability and cash flow) as well as important disclosures associated with such statements.
- University graduate in an analytical field (e.g. – accounting, finance, mathematics, engineering, etc.)
- High attention to detail.
- Understanding of front office processes and ability to balance necessities of credit risk management with commercial requirements.
- Ability and desire to assume ownership of a variety of credit risk management duties, including counterparty reviews, credit/counterparty data maintenance, guaranty issuance and monitoring, etc.
- Working knowledge of financial and physical energy trading markets; ISO markets and retail electricity & natural gas markets are preferred.
- Good understanding of business processes and data management.
- Excellent written and verbal communication skills.
- Highly motivated and enthusiastic and able to respond to changes in priorities.
- Confident and articulate team player.
- Previous management experience
- Has a demonstrated ability to be fiscally responsible
Note: EDF is an EEO Employer.