Manager Credit Risk

Status: Permanent Full Time

Working Conditions: On-site     

Education Level: 4 Year University Degree in Finance or a related field plus additional 1 year or more of further concentrated study.

Base Location: Oshawa, ON

Shift: Days

Travel: 10%

Deadline to Apply: March 18, 2026

Salary Range: $111,000 - $161,000

Electrify your career and help build a brighter tomorrow.

Every generation has a challenge that defines them. At OPG, we are calling on all innovators, disruptors, thought leaders and change-makers. Join us as we work to electrify life in one generation and build a sustainable future powered by our electricity, our ideas, and our people. Join OPG and make history.

Whether you work in the skilled trades or are a business professional, a career at OPG is an opportunity to electrify your life on -- and off -- the job.

JOB OVERVIEW

Ontario Power Generation (OPG) is looking for a dynamic, strategic and results-driven professional to join our team in the role of Manager, Credit Risk.  

Reporting to the Senior Manager Treasury, this position is responsible for conducting advanced counterparty evaluations, quantitative credit risk modeling and analyzing financial risk and credit metrics, monitoring credit exposures, negotiating and administering collateral, and ensuring compliance with internal policies and external requirements. This position also provides expert guidance for credit provisions during contract negotiations, develops and maintains credit risk limits, prepares detailed risk reports, and educates stakeholders across the organization.

 KEY ACCOUNTABILITIES 

• Conduct Advanced Counterparty Evaluations: Assess the financial strength and creditworthiness of counterparties using financial reports and other public information, management interviews, and information from rating agencies for the purpose of establishing, maintaining, or denying credit.to minimize risk exposure.
• Perform Complex Credit Analysis: Analyze and interpret credit metrics such as Potential Future Exposure (PFE), credit scoring model output, published credit ratings, contract terms and other information to provide robust risk assessments for OPG and its subsidiaries.
• Develop and Implement Credit Risk Models: Lead the creation, maintenance, documentation and enhancement of credit risk models, credit limits, and exposure mitigation strategies for key business areas including Treasury, Supply Chain, and Energy Markets.
• Monitor and Control Credit Exposures: Continuously track and manage counterparty exposures, ensuring they remain within approved limits and taking corrective actions when thresholds are approached or exceeded.
• Maintain Credit Risk Systems and Data Integrity: Ensure accurate onboarding of counterparties, adjustment of credit limits, validation of PFE calculations, and maintenance of comprehensive credit exposure data.
• Deliver Credit Reporting: Prepare and present daily Treasury and Energy Markets credit reporting, quarterly Uranium Supply Chain credit risk reports, and other required reports and documentation to ensure transparency and regulatory compliance
• Support Contract Negotiations: Provide expert credit risk analysis and recommendations to OPG subsidiaries and business units during contract negotiations to enable informed decision-making.
• Lead Trading Collateral Management Processes: Oversee the administration of collateral for bilateral trading agreements and ensure compliance with collateral requirements from Independent System Operators (ISOs) and financial institutions.
• Provide Immediate Exception Reporting: Generate and escalate exception reports for activities that violate credit policies or limits and participate in committee meetings to address issues.
• Educate and Advise Business Partners: Present credit analysis findings and deliver training to business partners and stakeholders, enhancing organizational understanding of credit risk and compliance.
• Lead and Participate in Cross-Functional Teams: Chair or contribute to cross-functional teams to develop, implement, and continuously improve credit risk strategies and operational effectiveness.

QUALIFICATIONS

• 4 Year University Degree in Finance or a related field
• A designation such as a CFA, FRM, PRM or an MBA.
• 10 years of progressive experience in credit analysis, financial risk assessment, and credit risk management
• Experience with credit modeling, trading contract support, and supporting large-scale supply chain projects
• Prior experience with energy physical and financial transaction contracts and special provisions, including NAESBs, GasEDIs, EEIs, ISDAs, and Credit Support Annexes
• Familiarity with North American natural gas and electricity markets, including system operators (e.g., IESO, MISO, PJM, NEISO, NYISO) is considered an asset
• Analytical and problem-solving skills
• Effective communication and presentation skills
• Project leaderships skills

The successful candidate will exhibit uncompromising integrity and commitment to upholding corporate values, and the OPG Code of Business Conduct.

OPG is committed to fostering an inclusive, equitable, and accessible environment. If you require accommodation during the selection process, please contact AODA@opg.com

What makes a career at OPG different?

With operations across Ontario, OPG is one of the most diverse power producers in North America. As the largest generator in Ontario, we meet approximately 50% of the province’s electricity needs, largely from low-carbon sources like nuclear and hydro. 

As we work to achieve our vision of Electrifying life in one generation, OPG and our family of companies are also helping advance the development of new low-carbon technologies such as Small Modular Reactors (SMRs), refurbishment projects, and electrification initiatives to help power the growing demands of a growing economy. Join OPG and make history.

Please submit your application online at https://jobs.opg.com/.  OPG thanks all those who apply; however, only candidates considered for an interview will be contacted.

Please note: All job postings at OPG are to fill existing vacancies within our organization. 

OPG may use artificial intelligence (AI) tools as part of the applicant screening process. However, applications will also be reviewed by a member of our Recruitment team to ensure a fair and thorough assessment.

The base salary range considers many factors including, but not limited to experience, education, and training, including any collective agreement requirements for union represented positions. It is not typical for the salary to be offered near the top of the range, and salary is dependent on numerous factors. For management roles, the base salary range does not represent the total compensation package. The total compensation package for regular full-time management roles includes pay-for-performance programs for annual and medium time periods. Maintaining a high-performance culture and excellence is a core expectation of every member of our leadership team and is rewarded through the established compensation framework.

OPG is committed to employment equity. As such, we encourage applicants from equity-seeking communities (Indigenous Peoples, racialized persons, persons with disabilities, and women). We strongly believe that alleviating the under-representation of equity-seeking individuals will create a stronger OPG team and allow us to better serve the needs of our diverse communities.

In order to fulfill the above-mentioned purpose, priority in hiring may be given to qualified persons who self-identify as a member of equity-seeking groups as identified in the application process. This initiative constitutes a special program under the Human Rights Code/Canadian Human Rights Act.