Counterparty Risk Analyst

Determined, imaginative, curious-if these are some of the ways you describe yourself, we want to learn more about you!

At TC Energy, we are proud to connect the world to the energy it needs. Guided by our values of safety in every step, personal accountability, one team and active learning, we deliver the critical energy that North America and the world rely on while balancing reliability, affordability and sustainability.

The Opportunity

We are seeking a Counter party Risk Analyst to join our Counter party Risk Assessment & Reporting (CPR) team in Calgary or Houston. Reporting to the Manager, Counter party Risk, this role is responsible for assessing, monitoring, and proactively managing counter party credit risk across TC Energy's regulated and non‑regulated businesses. The role independently performs moderately complex counter party risk analysis to evaluate creditworthiness and financial assurance requirements used to mitigate financial risk to a diverse portfolio of counter parties 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 counter parties, 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.

What you'll do

* Conduct credit assessments of counter parties, including financial statement analysis, risk rating determination, and providing credit limit recommendations

* Monitor counter party 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 counter party portfolio, ensuring timely, complete, and up‑to‑date credit records and documentation

* Support monthly, quarterly and ad-hoc counter party 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

Minimum Qualifications

* Bachelor of Commerce, Economics or business-related degree

* 5 years of progressive credit risk experience in the energy industry and strong working knowledge of energy markets and commodity trading

Preferred Qualifications

* Knowledge of counter party 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 Power Point

* 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…