Counterparty Risk Analyst

TC Energy•Calgary, AB

5d•Hybrid

About The Position

We are seeking a Counterparty Risk Analyst to join our Counterparty Risk Assessment & Reporting (CPR) team in Calgary or Houston. Reporting to the Manager, Counterparty Risk, this role is responsible for assessing, monitoring, and proactively managing counterparty credit risk across TC Energy’s regulated and non‑regulated businesses. The role independently performs moderately complex counterparty risk analysis to evaluate creditworthiness and financial assurance requirements used to mitigate financial risk to a diverse portfolio of counterparties in support of commercial activities. This role also contributes to the ongoing evolution of best practices within the CPR Team. This position is well suited for an experienced analyst who can independently manage a portfolio of counterparties, exercise sound credit judgment, and collaborate effectively with internal and external stakeholders to support commercial activities in alignment with the Company’s risk appetite, policies, and governance framework. This includes providing timely credit risk analysis and financial assurance recommendations to inform contract negotiations and structured transactions. The preferred candidate brings a strong sense of personal ownership and initiative, with a demonstrated commitment to ongoing professional growth and development. They approach challenges with a constructive, solutions‑focused mindset and consistently apply high levels of effort to deliver high-quality, actionable outcomes.

Requirements

Bachelor of Commerce, Economics or business-related degree
5 years of progressive credit risk experience in the energy industry
Strong working knowledge of energy markets and commodity trading

Nice To Haves

Knowledge of counterparty credit systems and energy trading and risk management platforms
Strong financial analysis skills, including ratio analysis, liquidity assessment, and credit evaluation
Experience with regulated pipeline operations, tariff frameworks and/or related governance
Proficient knowledge and experience using Microsoft Excel, Word, and PowerPoint
Proficiency with AI tools and Power BI, or similar analytical and visualization applications
Progress towards or completion of a CFA, CPA, or equivalent professional designation
Strong attention to detail and the ability to analyze, interpret, and draw sound conclusions from ambiguous or incomplete information
Demonstrated ability to prioritize effectively and deliver high-quality work while managing competing deadlines in a fast‑paced environment
Ability to work collaboratively and professionally with others in a team environment
Strong verbal and written communication skills with the ability to convey complex risk information clearly and concisely to a range of internal and external stakeholders

Responsibilities

Conduct credit assessments of counterparties, including financial statement analysis, risk rating determination, and providing credit limit recommendations
Monitor counterparty creditworthiness and exposures relative to approved limits or changing business requirements; investigate, analyze and report on exposure exceptions, their key drivers and associated risks
Prepare clear and well-supported credit memos, recommendations, and materials for management review
Accurately manage and maintain a significant counterparty portfolio, ensuring timely, complete, and up‑to‑date credit records and documentation
Support monthly, quarterly and ad-hoc counterparty exposure reporting
Collaborate with Front, Middle, and Back Office groups to support deal execution and effective credit risk mitigation
Apply contractual credit and financial assurance provisions to mitigate financial risk and support informed decision-making on commercial activities, ensuring alignment with internal policies and applicable tariff requirements.
Contribute to continuous improvement initiatives, including enhancements to processes, controls, and credit systems, leveraging data analytics and other technology wherever possible