Credit Risk Manager

Talen Energy; United States; On-site; USD 130,000 - 180,000; Full time

Benefits offered by this job

Health and financial benefits

401(k) plan

Paid vacation and sick time

Job summary

Talen Energy, headquartered in Houston, TX, seeks a senior Credit Risk Manager to lead counterparty risk for our power and gas trading portfolios. You will monitor exposures, assess creditworthiness, and drive risk reporting to senior leadership while coordinating collateral and margin discussions.

Responsibilities include developing risk models (PFE), automating processes, and negotiating documented terms in ISDA/NAESB/PPAs. Strong communication is essential.

Qualifications

• Bachelor’s degree in Finance, Accounting, Economics, Mathematics, Engineering or related discipline; advanced degree or CFA/FRM preferred.
• Deep understanding of ISO/RTO market operations and credit requirements including collateral and settlement.
• Proven ability to analyze financial statements, assess counterparty creditworthiness, and set risk-appropriate limits.
• Strong communication and stakeholder management to influence risk decisions.

Responsibilities

• Own counterparty credit risk management across power and gas trading portfolios with daily exposure monitoring.
• Prepare clear, decision-ready risk reporting for senior management and stakeholders.
• Assess counterparty creditworthiness through monitoring of financial condition and market trends; set limits and collateral needs.
• Manage collateral for bilateral and cleared transactions with internal stakeholders.
• Develop and maintain credit risk models and metrics, including Potential Future Exposure (PFE).
• Lead initiatives to improve automation and operational efficiency within credit functions.
• Govern data integrity and auditability of credit terms and limits in the ETRM system.
• Negotiate credit terms in enabling agreements (ISDA, NAESB, PPAs) with lien-based structures preferred.
• Conduct stress testing of hedge portfolios for liquidity requirements under adverse conditions.
• Explain valuation changes across trading products to commercial stakeholders; discuss drivers and implications.
• Explain changes in Initial Margin, Variation Margin, and Net Option Value due to market movements.

Skills

Counterparty credit risk

Creditworthiness analysis

Collateral management

Credit risk modeling

Automation improvement

Data governance

Credit term negotiation

Stress testing

Valuation analysis

IM/VM/NOV concepts

Education

Bachelor’s degree in Finance/Accounting/Economics/Mathematics/Engineering

CFA or FRM (preferred)

Tools

Excel

VBA

SQL

Job description

Credit Risk Manager Houston TX | Credit At Talen Energy

This is a senior-level energy credit risk role combining credit analysis, trading exposure management, collateral and liquidity management, contract negotiation, quantitative risk modeling, and process improvement.

How You’ll Power the Future

At Talen Energy, your work directly supports safe, reliable power generation. In this role, you’ll move beyond day-to-day contributions to drive meaningful change by:

• Own counterparty credit risk management across power and gas trading portfolios, including daily exposure monitoring and preparation of clear, decision ready risk reporting for senior management and key stakeholders.


• Perform ongoing creditworthiness assessments through proactive monitoring of counterparty financial condition, market developments, and industry trends; recommend appropriate credit limits and collateral requirements.


• Manage collateral for bilateral and cleared transactions, coordinating with various internal stakeholders.


• Develop and maintain credit risk models and metrics, including Potential Future Exposure (PFE), to support portfolio level and counterparty specific risk analysis and decision making.


• Lead initiatives to improve automation and operational efficiency within the credit function through cross functional collaboration.


• Maintain and govern credit terms, limits, and related data within the company’s ETRM system, ensuring data integrity and auditability.


• Independently negotiate credit terms in enabling agreements and credit support documentation across multiple business lines (ISDA, NAESB, PPAs, etc.); experience with lien-based structures preferred.


• Conduct stress testing of hedge portfolios to evaluate incremental liquidity requirements under adverse market conditions.


• Analyze valuation changes across trading products and clearly communicate key drivers, risk implications, and portfolio impacts to commercial stakeholders.


• Evaluate and explain changes in Initial Margin (IM), Variation Margin (VM), and Net Option Value (NOV) resulting from market movements, volatility, and portfolio composition.

What You Have Minimum Requirements

• Minimum Requirements Bachelor’s degree in Finance, Accounting, Economics, Mathematics, Engineering, or a related discipline; advanced degree or professional certification such as CFA or FRM preferred.


• Deep understanding of ISO/RTO market operations and associated credit requirements, including collateral, settlement, and default frameworks.


• Proven ability to analyze financial statements, assess counterparty creditworthiness, and set risk appropriate credit limits across a diverse portfolio.


• Exceptional communication and stakeholder management skills, with the ability to confidently engage, influence, and constructively challenge traders, marketers, and senior leadership on risk decisions.


• Highly organized and self-directed, with a demonstrated ability to prioritize competing deadlines, exercise sound judgment, and operate effectively in a fast-paced trading environment.


• Able to meet requirements for nuclear plant background clearance, where applicable.

Preferred Qualifications

• 8+ years of progressive credit risk management experience within the power and gas trading sector, including advanced knowledge on derivatives and complex hedging structures.


• Hands on experience managing exchange traded and cleared exposures, with a strong grasp of margin drivers (initial margin, variation margin, net option value) and their impact on liquidity and capital usage.


• Advanced proficiency in Excel, VBA, and SQL preferred.

Why Talen Energy?

Power the Future Talen Energy is one of the largest competitive energy and power generation companies in North America. We operate power plants that use diverse fuel sources in the most attractive wholesale power markets and sell energy to wholesale and retail customers in selected competitive markets. Our passion for excellence grows value through safe and efficient operations. We have an inclusive, diverse, respectful, and collaborative workplace, and a strong commitment to innovation, teamwork, and integrity. We generate energy for a brighter tomorrow.

Collaboration

Our passion for excellence grows value through safe and efficient operations. We have an inclusive, diverse, respectful, and collaborative workplace.

Benefits

Talen Energy offers an exceptional benefits program to its employees.

• Benefits include comprehensive health, dental, vision, prescription plans, life insurance, and disability insurance.


• In addition, employees are eligible to participate in Talen Energy's 401(k) plan.


• Talen Energy also provides competitive vacation and sick time to its employees.

We are committed to providing a safe, drug and alcohol-free workplace.

Consistent with applicable law and any collective bargaining agreements, positions may be subject to pre-employment, random, post-accident, and reasonable suspicion drug and alcohol testing.

Equal Opportunity

Talen Energy is an equal opportunity, affirmative action employer dedicated to diversity and the strength it brings to the workplace.

All qualified applicants will receive consideration for employment without regard to race, color, age, sex, religion, national origin, veteran status, sexual orientation, genetic information, gender identity, disability, perceived disability or any other protected characteristic as may be defined by applicable law.

Note to Search Firms and Recruitment Agencies

Note to Search Firms and Recruitment Agencies Talen Energy is committed to fostering direct engagement with prospective candidates and managing our recruitment activities internally. From time to time, Talen Energy and its companies partner with select executive search firms and recruitment agencies under formal, written agreements aligned to specific business needs. Talen Energy does not accept unsolicited resumes or candidate submissions from search firms or agencies without a current fully executed agreement authorized by an appropriate company representative. Any candidate information submitted in the absence of such an agreement will be considered the property of Talen Energy, and neither Talen Energy nor its subsidiaries will be obligated to pay any fees or compensation related to those submissions.

Talen is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own, operate, and optimize high-quality power infrastructure across the United States. Our generation portfolio includes 15 generation locations capable of producing approximately 15.6 GW of power. Talen's fleet generates electricity using a diverse mix of fuels, ranging from zero-carbon nuclear energy—including the Susquehanna nuclear facility—to natural gas, coal, and oil. We produce and sell electricity, capacity, and ancillary services into wholesale power markets across the United States, with generation assets located in key power markets. Our team is committed to generating power safely and reliably and delivering the most value per megawatt produced.

Talen is also powering the digital infrastructure revolution. We are well-positioned to capture this growing industry, as artificial intelligence data centers increasingly demand more reliable, clean power. We have an inclusive, diverse, respectful, and collaborative workplace, and a strong commitment to innovation, teamwork, and integrity.

Talen is headquartered in Houston, Texas.

Talen Energy is committed to providing a safe, drug and alcohol-free workplace.

Consistent with applicable law and any collective bargaining agreements, positions may be subject to pre-employment, random, post-accident, and reasonable suspicion drug and alcohol testing.

Talen Energy is an equal opportunity employer dedicated to diversity and the strength it brings to the workplace.

All qualified applicants will receive consideration for employment without regard to race, color, age, sex, religion, national origin, veteran status, sexual orientation, genetic information, gender identity, disability, perceived disability or any other protected characteristic as may be defined by applicable law.

For more information visit www.talenenergy.com.