Senior Credit Risk Analyst

About Us

Engelhart was founded in 2013 by BTG Pactual Group as a commodities trading company. Our business model is “asset light” and highly diversified – giving us the ability to adapt effectively and nimbly to changing market conditions. We have assembled successful multidisciplinary teams, leveraging advanced fundamental analysis with deep quantitative and weather research capabilities. Our activities are underpinned by strong risk management practices and by powerful technology and operational excellence. We have exceptional teams with diverse global backgrounds and decades of experience, and are driven by a highly collaborative culture, across products and competencies.

In 2024, Engelhart acquired Trailstone, a global energy trading and technology company. The acquisition provides us with new expertise, analytics and proprietary technology which is being used to provide risk management and optimisation services to help maximise the value of our clients’ renewable power. The acquisition also expanded Engelhart’s capabilities into physical natural gas across North America, a critical fuel to support the energy transition.

Our talented and experienced individuals work together according to its four company values: Performance, Agility, Collaboration, Entrepreneurship.

About The Role

On behalf of the Global Head of Credit Risk, we are searching for an experienced hands-on Senior Credit Risk Analyst for our London office. This person will report to the Credit Risk Manager in London. This will be a full-time role, owning the following responsibilities:

• Preparing in-depth credit reviews based upon the analysis of a company’s financial statements (including understanding cash flow analysis and capital structure), industry trends and energy commodity market prices and news.
• Recommending credit limits and internal credit ratings based on given authority.

Credit evaluation and risk assessment of complex structured finance and derivative transactions in a deal-oriented environment (Power, PPAs – wind & Solar, Renewables Certificates, and Gas).

Assist in creating reports from CRisk and building out the Automated Dashboard, as well as other ad-hoc credit reporting.

Onboarding counterparties and Master Agreements, CSAs and credit terms into the ETRM.

Act as a back-up for the global OTC margining process covered by a Credit Risk Analyst.

About You

The successful candidate must have excellent communication skills to build strong relationships and work effectively with OTC trading counterparties, commercial traders and Engelhart's internal business teams across global time-zones. The Senior Credit Risk Analyst needs to be hands-on and able to prepare detailed credit analysis, not just “market” credit. This person needs to be able to manage exposures including mark-to-market, accrual and settlement (accounts receivable / accounts payable) for a portfolio of counterparties with a global view of exposure.

As such, the following experiences and skills will are necessary for application:

• Tangible experience working in the credit risk function of an energy commodity trading company, or in a bank with a focus on energy commodities.
• Knowledge of commercial credit risk and counterparty credit analysis experience.
• Experienced with Renewables, Power and Emissions Certificates in Europe. Further experience with Gas and Freight is desirable, but not a prerequisite.
• Experienced in negotiating the credit terms of industry standard energy commodity Master Agreements (PPAs, EFET Power, ISDA, GTMA, ROCTMA, EECS GO, Credit Support Annexes, Master Netting Agreements, Long-Form Confirmations & GTCs).
• Experienced in OTC margining & collateral process (cash and Letters of Credit).
• Experience and knowledge of the European TSOs.

Strong data mining skills and knowledge of SQL, as well as working knowledge of CRisk & Endur (OpenLink), Affinity, Bloomberg & MS Office.

In addition, we believe the following competencies and approach will best set someone up for success in this role:

• Strong verbal and written communication skills, with the ability to build effective working relationships both internally and externally.
• Attention to detail; hands-on, quick-thinking, and very detail-oriented.
• A self-starter attitude and sense of initiative; the ability to identify problems quickly and elevate properly for timely resolution.
• Organisational skills; the ability to multi-task & prioritise with effective time management.
• Problem solving; the ability to provide solutions for margin and data reporting issues.
• The ability to mitigate credit risk and provide credit solutions and options to counterparties and commercial traders in order to enable trading.
• Prior credit training and knowledge of the credit rating agencies (Fitch, Moody’s & S&P) methodologies and ratings.
• Collaborative with an ability to improve internal processes & efficiencies on an on-going basis.
• Understand PFE for a portfolio of global counterparties.
  
  

The key to success in this role is supporting the Credit process for a small team and establishing credit relationships with counterparties, credit analysis/reviews, but with the knowledge and experience of how to extend credit lines or margin thresholds in a sensible manner.

What we Offer

• Competitive compensation and participation in Engelhart’s discretionary bonus plan.
• 25 days of annual holiday entitlement, excluding UK public holidays.
• Robust benefits package such as medical, dental, life insurance, generous pension contribution, and supplemental benefits partially subsidised by the Company.
• Eligibility to receive external and internal training in accordance with our Training & Development Policy.
  
  

We believe in inclusivity and are therefore dedicated to ensuring all employees – across gender identity, race, ethnicity, sexual orientation, religion, life experience, background and more – feel welcome and included in the company. We promote diversity because we believe it is essential to our ability to think holistically.