Analyst II - Risk - Akron FirstEnergy Headquarters

Market rate: Analyst I ($68,500/year), Analyst II ($76,000/year), Analyst III ($84,000/year). Position is located onsite within our five-state service territory (Ohio, Pennsylvania, Maryland, West Virginia, or New Jersey).

About the role

The position is within the Risk group and reports to the Director, Enterprise Risk Management. The mission of the Corporate Risk team is to make risk actionable and help FirstEnergy achieve our strategic objectives. We envision a comprehensive and proactive Risk program that enables risk-informed decisions and the pursuit of opportunities.

Corporate Risk is composed of two teams: Enterprise Risk Management (ERM) and Insurance Strategy & Operations. The Enterprise Risk Management team works across every area of FirstEnergy, and its contributors are expected to be agile learners, strategic thinkers, and able to execute. The successful candidate will identify key strategic topics across multiple business units and work with them to manage risks and take advantage of opportunities.

Responsibilities

• Conduct risk analytics to support risk monitoring, calibration (determination of an acceptable level of risk and status against it), and escalation when risks surpass expected levels.
• Work with the Insurance Strategy & Operations team to evaluate insurance coverages and bring FirstEnergy’s risk within tolerance through proper insurance coverages.
• Perform analytics to support business units and senior management in analyzing and managing enterprise risks.
• Gain a solid knowledge of FirstEnergy’s business and strategic objectives to embed risk management within strategic goals.
• Collaborate in a cross-functional team on a wide variety of quantitative and qualitative projects to support strategic priorities.
• Manage multiple topics simultaneously and effectively communicate work to team members.
• Perform risk analytics that lead to actionable insights using data and statistical techniques.
• Provide insights on both philosophical and mathematical approaches to risk analytics.
• Identify and communicate key insights that inform FirstEnergy’s strategy and financial plan.
• Collaborate across Corporate Risk Teams and business units to integrate risk analytics into business practices using data analytics skills:
  • Query large amounts of data from multiple sources, interpret data, and analyze results using statistical techniques.
  • Perform advanced analytics using linear regression, AI & machine learning, and other quantitative methods.
  • Identify, analyze, and interpret trends or patterns in complex data sets.
  • Employ statistical techniques to produce actionable business insights.
  • Develop data models, dashboards, charts, and visual aids to support decision-making.
  • Convey insights through reports and visual presentations.
  • Engage with departments to specify data requirements for tailored analysis projects.
• Become familiar with key strategic models across FirstEnergy, including the financial forecast, business development scenarios, and other assumptions.
• Assess Financial Plan assumptions and provide scenario stress testing to create a risk-informed business plan.
• Integrate risk information with teams responsible for corporate strategies from both quantitative and qualitative approaches.
• Support Capital Round processes and other project portfolio risk analyses.
• Develop, maintain, and continuously improve risk analytics models, such as:
  • The Combined Financial Risk Model, which provides risk-adjusted earnings and cash ranges.
  • Key Performance Indicator risk models, which assess the likelihood of meeting operational and safety performance metrics.
• Support the development of focused risk models on key enterprise risks that lead to actionable risk response solutions, often transferring models back to business units for maintenance.
• Continuously improve the Risk Escalation program by quantitatively calculating and monitoring risk exposures against defined risk limits.
• Support the development, monitoring, and maintenance of Risk Escalation metrics, follow escalation processes, and publish appropriate reporting.
• Utilize risk analytics to inform proper risk limits across FirstEnergy’s enterprise risks.
• Identify opportunities to leverage GRACE (FirstEnergy’s instance of Archer IRM), Power BI, and other risk management and reporting tools to enhance risk analytics, Key Risk Indicators (KRIs), reporting capabilities, and risk escalation processes.
• Support the Enterprise Risk Assessment (ERA) processes:
  • Identify and develop key risk indicators or other metrics to monitor risks across ERA process cycles.
  • Support deep-dive Risk Reviews of identified top enterprise risks to quantitatively determine risk exposures and identify metrics to track exposures.
  • Utilize risk analytics to determine exposure to risks and identify key risk drivers and root causes spanning multiple enterprise risks.
• Support Business Units and Risk teams in risk quantification efforts and risk reporting through data visualization development.
• Research and implement new modeling tools and techniques.

Qualifications

Analyst II:

• Bachelor’s degree in Economics, Mathematics, Statistics, Data Science, Finance, Business Administration, Engineering, or related discipline required. Advanced degree is a plus but not required.
• Minimum 2 years of relevant work experience in risk analytics, data science, forecasting, quantitative and/or qualitative research, statistical modeling, and/or risk management. Other applicable experiences will be considered.
• Experience using data analytics tools such as Microsoft Power BI, Python, R, SAS, RapidMiner, or @Risk.
• Excellent analytical, critical thinking, problem-solving, and decision-making skills.
• Proven ability to work effectively in a team environment.
• Ability to develop an understanding of the risk management process.
• Highest standards of business conduct and ethical behavior.
• Displays and reinforces FirstEnergy’s Values & Behaviors.
• Preferred experience participating on cross-departmental projects in collaboration with other business units.
• Strong understanding or ability to learn quantitative modeling skills to gain insights from data that inform strategic decision-making.

Analyst III: All Analyst II qualifications plus:

• Minimum 4 years of relevant work experience.
• Proficient in data analytics tools such as Microsoft Power BI, Python, R, SAS, RapidMiner, or @Risk.
• Strong understanding of quantitative modeling skills.
• Experience participating on cross-departmental projects in collaboration with other business units.
• Project management experience.
• Effective communication skills, written and verbal.

Analyst IV: All Analyst III qualifications plus:

• Minimum 7 years of relevant work experience.
• Thought leadership in maximizing the use of data analytics tools and ability to teach and coach others.
• Experience leading cross-departmental projects in collaboration with other business units.
• Ability to master the risk management process.
• Excellent communication skills, written and verbal.