Counterparty Risk Analyst

TC Energy • Calgary, AB

4d • 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 complex counterparty risk analysis to determine creditworthiness and financial assurance requirements used to mitigate financial risk to a diverse portfolio of counterparties. Informed recommendations are used to support contract development associated with critical commercial and capital project decisions. 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 higher complexity and exposure counterparties and transactions. The individual should be able to 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, decision-oriented credit risk analysis and financial assurance recommendations to inform contract negotiations, structured transactions, and capital project development activities. 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 insights and recommendations.

Requirements

• Bachelor of Commerce, Economics or business-related degree
• 7+ years of progressive credit risk experience in the energy industry and 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
• Demonstrated experience evaluating and providing recommendations on credit risk and financial assurance implications in support of contract negotiations and capital project development activities
• 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 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, 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 and capital project exposures, 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

Benefits

• hybrid work model
• flexible dress code

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level