Commercial Credit Manager - Structured

Shell; Houston (TX); On-site; USD 138,000 - 208,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

Life insurance

401(k) plan

Paid vacation

Paid holidays

Parental leave

Short-term disability

Long-term disability

Remote work flexibility

Job summary

Shell is seeking a Commercial Credit Manager – Structured to join its team in Houston, TX. The role sits within Shell’s Trading & Supply Credit Risk organization and leads structuring, underwriting, and adjudication of complex energy credit transactions across the Americas.

You will oversee credit risk management, develop financial models, and design credit mitigants while partnering with Commercial, Trading, Finance, and Legal teams.

Qualifications

• Must have legal authorization to work in the US on a full-time basis for anyone other than current employer.
• MBA, CFA, or equivalent preferred.
• At least 5+ years of credit risk or structured finance experience in energy trading, investment banking, or a related sector.
• Proven ability to structure and execute complex structured or project-based transactions.
• Strong credit, market risk, and/or financial expertise, including counterparty analysis and risk mitigation structuring.
• Advanced financial modelling and analytical capability, including stress testing, scenario analysis, and exposure measurement.
• Deep knowledge of energy markets, trading documentation (ISDA/CSA), and/or structured credit transactions.
• Strong commercial judgment with a portfolio-wide view of risk and/or value creation.
• Credit risk frameworks including PFE, ECL, Credit VaR, and/or mark-to-market exposure.
• Structured and project finance, including due diligence and counterparty assessment.
• Energy markets, commodity drivers, volatility, and/or regulatory impacts.
• Experience in global, complex organizations with ability to influence stakeholders and manage competing priorities.

Responsibilities

• Lead credit structuring and risk assessment for complex, long-dated transactions across energy commodities and instruments, including power, gas, LNG, crude, refined products, and renewables
• Assess counterparty risk and structure credit for transactions, including leverage, liquidity, capital structure, and recovery analysis
• Develop and interpret financial models to evaluate exposure, liquidity risk, and risk-return outcomes
• Design and negotiate credit mitigants with the Americas Commercial Credit Managers (CCM), including collateral, guarantees, covenants, and margining structures and exit strategy scenarios
• Partner with Commercial, Trading, Finance, Market Risk, Legal portfolio CCMs to originate and structure transactions
• Prepare credit recommendations and present to senior stakeholders and credit committees
• Oversee portfolio performance, monitor exposures, and identify emerging risks and remediation strategies for Retail Aggregation portfolio
• Support Regional Head of Credit by managing one or more portfolios
• Lead focal for credit risk advisory for physical, financial and structured financing transactions across key areas of coverage
• Leads change projects both globally and regional to aid critical improvement agenda
• Acts as primary focal on credit risk management and strategy matters to key Risk, Commercial and Finance stakeholders (VPs, GM, RTLs, Desk heads) within Shell Trading and beyond
• Works under broad guidance and supervision by Manager for complex activities. Delivers the work as assigned, applying the work procedures, frameworks. Guidance provided for those tasks where there are limited precedents available
• Translates business opportunities (immediate and longer term) and ensures application of the right instruments to create solutions. This scope implies (contribution to) the creation of new approaches

Skills

Credit risk analysis

Structured finance

Counterparty assessment

Financial modelling

ISDA/CSA knowledge

Portfolio management

Stakeholder influence

Commercial judgment

Risk mitigation

Education

Bachelor's degree

MBA or CFA preferred

Job description

What’s The Role

Shell is seeking for Commercial Credit Manager – Structured to join its team in Houston, TX.

This role sits within Shell’s Trading & Supply Credit Risk organization and is responsible for leading the structuring, underwriting, and adjudication of complex energy credit transactions and the management of the retailer aggregation (structured) portfolio across the Americas. The position combines front-office structuring capability with disciplined credit risk management to enable commercial growth while protecting enterprise value.

Accountabilities

• Lead credit structuring and risk assessment for complex, long-dated transactions across energy commodities and instruments, including power, gas, LNG, crude, refined products, and renewables
• Assess counterparty risk and structure credit for transactions, including leverage, liquidity, capital structure, and recovery analysis
• Develop and interpret financial models to evaluate exposure, liquidity risk, and risk-return outcomes
• Design and negotiate credit mitigants with the Americas Commercial Credit Managers (CCM), including collateral, guarantees, covenants, and margining structures and exit strategy scenarios
• Partner with Commercial, Trading, Finance, Market Risk, Legal portfolio CCMs to originate and structure transactions
• Prepare credit recommendations and present to senior stakeholders and credit committees
• Oversee portfolio performance, monitor exposures, and identify emerging risks and remediation strategies for Retail Aggregation portfolio
• Support Regional Head of Credit by managing one or more portfolios
• Lead focal for credit risk advisory for physical, financial and structured financing transactions across key areas of coverage
• Leads change projects both globally and regional to aid critical improvement agenda
• Acts as primary focal on credit risk management and strategy matters to key Risk, Commercial and Finance stakeholders (VPs, GM, RTLs, Desk heads) within Shell Trading and beyond
• Works under broad guidance and supervision by Manager for complex activities. Delivers the work as assigned, applying the work procedures, frameworks. Guidance provided for those tasks where there are limited precedents available
• Translates business opportunities (immediate and longer term) and ensures application of the right instruments to create solutions. This scope implies (contribution to) the creation of new approaches

What You Bring

• Must have legal authorization to work in the US on a full-time basis for anyone other than current employer
• Bachelor’s degree required; MBA, CFA, or equivalent preferred
• At least 5+ years of credit risk or structured finance experience in energy trading, investment banking, or a related sector
• Proven ability to structure and execute complex structured or project-based transactions
• Strong credit, market risk, and/or financial expertise, including counterparty analysis and risk mitigation structuring
• Advanced financial modelling and analytical capability, including stress testing, scenario analysis, and exposure measurement
• Deep knowledge of energy markets, trading documentation (ISDA/CSA), and/or structured credit transactions
• Strong commercial judgment with a portfolio-wide view of risk and/or value creation
• Credit risk frameworks including PFE, ECL, Credit VaR, and/or mark-to-market exposure
• Structured and project finance, including due diligence and counterparty assessment
• Energy markets, commodity drivers, volatility, and/or regulatory impacts
• Experience in global, complex organizations with ability to influence stakeholders and manage competing priorities

What We Offer

The base salary range for this position is $138,000 - $208,000 per year. Individual pay will be based on various factors, such as relevant work experience, education, certifications, skill level, seniority, and internal equity.

For regular full-time or regular part-time employees of the Company (participating companies as listed in the Summary Plan Description), insurance coverage options include medical, dental, vision coverage, life Insurance, Business Travel Accident Insurance, and Occupational Accidental Death Benefit programs. Employees also participate in a company pension plan and a 401(k) plan. Paid leave includes up to 6 weeks of paid vacation time, up to 11 paid holidays, and parental leave offering 16 weeks of paid leave for birthing parents, and 8 weeks of paid leave for non-birthing parents.

Additionally, employees are eligible for short-term disability leave for up to 26 weeks at 100% or 50% of base pay as well as Long-Term Disability insurance. Shell also offers other compensation such financial reimbursement for adoption, wellness, education, and personal learning expenses, and some roles are eligible for discretionary long-term incentives. For interns, eligible benefits include medical, dental, and vision coverage, life insurance, Business Travel Accident Insurance, and Occupational Accidental Death Benefit programs; participation in a 401(k) plan; and paid leave for up to 11 paid holidays.

Additional information on Shell’s US benefit programs can be found at https://www.shell.us/careers/about-careers-at-shell/rewards-and-benefits.html.

You bring your skills and experience to Shell and in return you work with talented, committed people on one of the most important challenges facing our planet. You’ll have the opportunity to develop the skills you need to grow in an environment where we value honesty, integrity, and respect for one another. You’ll be able to balance your priorities as you become the best version of yourself.

• Progress as a person as we work on the energy transition together
• Continuously grow the transferable skills you need to get ahead
• Work at the forefront of technology, trends, and practices
• Collaborate with experienced colleagues with unique expertise
• Achieve your balance in a values-led culture that encourages you to be the best version of yourself
• Benefit from flexible working hours, and the possibility of remote/mobile working
• Perform at your best with a competitive starting salary and annual performance related salary increase – our pay and benefits packages are considered to be among the best in the world.
• Take advantage of paid parental leave, including for non-birthing parents
• Join an organization working to become one of the world’s most diverse and inclusive in the world. We strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation, and life experiences to apply
• Grow as you progress through diverse career opportunities in national and international teams
• Gain access to a wide range of training and development programs

We'd like you to know that Shell has a bold goal: to become one of the world’s most diverse and inclusive companies. You can get to know more about how we're working towards that goal,

Shell in The United States

Shell has been in the US for more than 100 years, leading the sector in energy, petrochemicals and refined products. Today, we provide millions of Americans with the energy needed to heat and cool their homes and power the economy.

We operate in all 50 states, from our Deepwater platforms in the Gulf of America to the Pennsylvania Chemicals complex and our miles of pipelines throughout the US.

We reach our customers through our 13,000 branded retail stations, and we are number 1 in gasoline sales. We also own the #1 brand of motor oil in the U.S. – Pennzoil® – made from natural gas.

We are excited to play a key role in the move to net carbon emissions while providing the oil and gas needed by society for many decades to come.