Credit Risk Analyst (Commodities)

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: be bold, be collaborative, be proactive, be your best.

Credit Risk Analyst – Stamford, CT or Houston, TX

About the Role

On behalf of the Global Head of Credit Risk, we are looking for a Credit Risk Analyst with a keen interest in Energy Credit and Energy Commodity Markets to join us. This role will sit in our global Credit team, which is part of Risk, reporting to our Global Head of Credit Risk who is based in Stamford, CT.

This role will provide a variety of international responsibilities, with the benefits of local and international team support. Regarding technology, this role can expect to use CRisk, Endur (OpenLink), Affinity, Bloomberg, and MS Office on a daily basis. Training will be provided from day one to help build knowledge of the renewable power industry and natural gas industry, offering opportunity for professional growth. 

This role will be based in Stamford, CT or Houston, TX and will require four days onsite, with one optional remote day per week.  

This will be a full-time role, owning the following responsibilities, once training is complete:

• Preparing credit review preparations based on the spreading and analysis of a company’s financial statements (including understanding cash flow analysis & capital structure), industry trends and energy commodity market prices and news;


• Preparing, reviewing, and analysing various reports, including global exposure reporting; 


• Onboarding counterparties and the respective Master Agreement, CSA margin and credit terms into CRisk;


• Assisting with the review of new commercial power (load & renewables) and gas deals (including transportation, storage & AMAs) within the credit team and with the commercial trading desks;


• Supporting the daily global OTC margining process for the North American power and gas businesses, including all daily and ad-hoc global Credit reporting;


• Collaborating with cross functional teams to improve internal processes and efficiencies on an on-going basis. 

About You

This person will be detail-oriented and collaborative, able to identify problems quickly and work as part of a team to resolve items properly. In addition to this, evidence of coding, data mining and data management skills will be considered as part of our interview process, as a key part of this role will be to analyse and reconcile exposure data.

The ideal candidate will possess at least five of the following qualifications, competencies, and knowledge subjects:

• Academic studies in the fields of Business, Finance, Mathematics, or a related field;


• Tangible knowledge of commercial credit risk and counterparty credit analysis;


• Familiarity with credit rating agencies (Fitch, Moody’s & S&P), their methodologies and ratings;


• Understanding of concept of OTC margin & collateral processing (Cash & Letters of Credit);


• Understanding of Exposures (including mark-to-market, accrual, and settlements) and Potential Future Exposures (for a portfolio of global counterparties); 


• Knowledge of coding (i.e., Python syntax);


• Prior working experience gained in a North American energy trading company, or bank with a focus on power (renewables & load) or natural gas markets. 

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.