Enterprise Risk Manager

Located in the heart of the Bluegrass state, East Kentucky Power Cooperative (EKPC) is a not-for-profit generation and transmission electric utility headquartered in Winchester, KY. EKPC safely generates and delivers reliable, affordable, and sustainable energy to 16 owner-member cooperatives serving over 1 million Kentuckians across 87 counties. The cooperative is committed to environmental stewardship and improving lives through smart energy solutions.

About the role

This hybrid remote role combines three days on premises with up to two days remote, contingent on department and business needs. The Enterprise Risk Manager oversees, monitors, and administers EKPC’s commodity/market risk, credit risk, and enterprise risk management programs. This position serves as a key advisor and business partner across the organization, collaborating with commercial, fuel procurement, generation, treasury, engineering and construction, accounting, regulatory, legal, and executive leadership teams to identify, evaluate, monitor, and mitigate enterprise-wide risks.

Responsibilities

• Energy Trading and Commercial Risk Management
  • Provide independent risk oversight for power, natural gas, coal, capacity, renewable energy, financial hedging, and exchange-traded products (ICE and other commodity exchanges).
  • Review and advise on commercial contracts from a risk management perspective.
  • Evaluate and monitor exposure from fuel supply, transportation, storage, power purchase, and energy trading agreements.
• Market Risk Management
  • Monitor commodity price risk, basis risk, volumetric risk, liquidity risk, and generation asset exposure.
  • Perform independent mark-to-market valuation oversight for commodity transactions; ensure accuracy, completeness, and integrity of reported market exposures.
  • Monitor and report daily, monthly, and periodic mark-to-market positions, profit and loss attribution, value-at-risk, stress testing, and other approved risk metrics.
  • Analyze market positions and risk metrics to ensure compliance with approved risk limits.
  • Evaluate market conditions and provide recommendations regarding risk exposures and mitigation strategies.
• Credit Risk Management
  • Negotiate credit and collateral provisions in industry-standard agreements (EEI Master Power Purchase and Sale Agreements, NAESB Base Contracts, ISDA Master Agreements and Credit Support Annexes, physical and financial commodity trading agreements).
  • Establish, maintain, and monitor counterparty credit limits.
  • Perform financial and credit analysis of counterparties, suppliers, customers, and trading partners.
• PJM Credit and Collateral Management
  • Manage the company’s PJM credit position and unsecured credit facilities.
  • Monitor PJM collateral requirements and liquidity exposures.
  • Optimize collateral postings, prepayments, and working capital requirements during market volatility, severe weather, and generation outages.
  • Analyze the impact of PJM market changes on credit requirements and liquidity needs.
  • Coordinate with commercial, treasury, accounting, and operations personnel to manage PJM credit exposures.
• Enterprise Risk Management
  • Administer and continuously improve the company’s Enterprise Risk Management (ERM) framework.
  • Facilitate enterprise-wide risk assessments and maintain the corporate risk register.
  • Identify, evaluate, monitor, and report strategic, operational, financial, regulatory, cybersecurity, and reputational risks.
  • Coordinate risk mitigation plans with business leaders throughout the organization.
  • Develop and present risk reports, dashboards, key risk indicators, and risk assessments for executive management and the Risk Committee.
  • Support the development and maintenance of risk management policies, procedures, governance standards, and internal controls.
  • Foster a culture of risk awareness and accountability across the organization.
• Perform other duties as assigned.

Requirements

• Education and Certifications / Licenses
  • Bachelor’s degree in Finance, Economics, Business Administration, Accounting, Engineering, Risk Management, or a related discipline. An equivalent combination of education and experience may substitute.
  • Master’s degree or professional certification (FRM, ERP, CFA, CPA, or MBA) preferred.
• Experience
  • Minimum of seven years of experience in energy risk management, commodity trading, credit risk management, treasury, accounting, or related fields.
  • Experience negotiating EEI, NAESB, and ISDA agreements.
  • Strong knowledge of wholesale power markets, natural gas markets, coal procurement, and energy trading activities.
  • Experience performing mark-to-market valuation oversight and commodity risk reporting.
  • Experience managing PJM credit and collateral requirements preferred.
  • Experience with exchange-traded energy products and commodity exchanges, including ICE.
  • Experience presenting risk issues and recommendations to executive management, Risk Committees, and board-level committees.
  • Cooperative experience preferred.
• Skills and Abilities
  • Strong understanding of commodity valuation, mark-to-market methodologies, credit risk, market risk, enterprise risk management, and energy trading practices.
  • Knowledge of PJM market rules, credit requirements, and stakeholder processes preferred.
  • Knowledge of risk assessment techniques, risk identification, evaluation, mitigation, monitoring, and reporting processes.
  • Strong analytical and critical thinking skills with the ability to evaluate complex business issues, identify emerging risks, and recommend practical risk mitigation strategies.
  • Strong understanding of internal controls, corporate governance, compliance, and business continuity concepts.
  • Strong contract negotiation and conflict resolution skills.
  • Demonstrated ability to influence, collaborate, and build strong working relationships throughout the organization and with external contacts.
  • Excellent organizational, planning, and time management skills, with the ability to prioritize work and adapt to changing business needs.
  • Strong project management skills.
  • Excellent listening, written, verbal, presentation, and public speaking skills, with the ability to effectively communicate complex risk issues to diverse audiences.
  • Excellent interpersonal skills with the ability to collaborate with staff throughout the organization, including external contacts.
  • Proficiency with risk management systems, ETRM platforms, energy trading systems, and Microsoft Office applications.
  • Ability to manage sensitive and confidential information with discretion.
• Competencies
  • Building Partnerships
  • Negotiation
  • Strategic Decision Making
  • Information Monitoring
• Working Conditions
  • Usual office conditions apply.
  • Work outside normal schedule may be necessary.
  • Must maintain a valid driver’s license.
  • Must wear personal protective equipment as applicable.

Benefits

• No waiting period on medical, dental, and vision insurance plans; dental plan is free for employees.
• Generous 401(k) retirement plan:
  • Employees can start contributing after one month of service.
  • After three months of service, EKPC automatically contributes 6.5% of base wages and matches employee contributions up to 4.5%.
• Competitive vacation and sick leave package starting on day one.

For more information on benefits, visit EKPC’s website.