Enterprise Risk Manager

Purpose of Job

The Enterprise Risk Manager is responsible for identifying, evaluating, and mitigating operational and financial risks across the organization, with a primary focus on energy trading and market risk activities. This role oversees trading agreement risk, counterparty credit risk, and trading control risk through the use and oversight of services provided by a trading and risk management company. This position ensures compliance with ODEC’s Energy Risk Management Policy (ERMP) and Energy Risk Management Standards and Procedures (ERMS&P), while supporting broader enterprise risk initiatives across the Finance function. This role assists in organizing and facilitating the Risk Management Committee (RMC) and provides risk insights, analysis, and recommendations to support informed decision-making and organizational risk mitigation.

Risk Management Operations Functions

• Monitor and manage risk exposures related to power and natural gas operations, including PJM/RTO activities, collateral adequacy, and market activity.
• Track natural gas hedging activity and evaluate key market drivers impacting margin settlements.
• Review collateral thresholds and respond to potential margin calls in coordination with the services provided by a trading and risk management company.
• Evaluate and monitor counterparty credit risk, including financial health, credit exposure, and compliance with established credit controls.
• Support credit risk mitigation strategies, including guarantees, prepayments, and letters of credit.
• Ensure compliance with trading controls, transaction authority limits, and proper trade capture and reporting.
• Participate in risk management activities associated with the services provided by a trading and risk management company and PJM.
• Prepare, review, and present risk management reports and analyses to leadership and the RMC.
• Monitor compliance with regulatory requirements, including CFTC Dodd-Frank rules.
• Support and administer enterprise risk assessments.

Risk Compliance

• Maintain and update SOX-related risk processes and documentation.
• Review SOC 1 Type II reports for services provided by a trading and risk management company and other key partners.
• Ensure appropriate internal controls are documented and functioning.
• Communicate with counterparties concerning “Know Your Customer” and other risk-related questions and initiatives.

Insurance Program Support

• Develop working knowledge of ODEC’s property and liability insurance programs.
• Affiliate with maintaining insurance programs.

Additional Responsibilities

• Collaborate with Treasury on credit exposure and financial risk considerations.
• Provide general support to the Finance Department initiatives.
• Participate in company committees and cross-functional initiatives.
• Lead or contribute to cross-functional efforts.

Work Experience

• Minimum of 10 years of risk management, finance, power supply, investment, or derivative trading and/or accounting, relevant experience.
• Utility or energy sector experience preferred.
• Experience with external service providers supporting energy trading, market operations, or risk management preferred.

Critical Knowledge, Skills, And Abilities

• Energy trading agreements (ISDA, NAESB, EEI).
• Energy risk management practices.
• Energy trading products.
• Financial and commodities markets.
• Advanced Excel and Microsoft 365 proficiency.
• Strong analytical and problem-solving skills.
• Effective communication and collaboration skills.
• Ability to interpret complex data.
• Self-starter with a continuous improvement mindset.
• Ability to influence without authority.

Preferred Knowledge, Skills, And Abilities

• PJM market familiarity.
• SOX and Dodd-Frank knowledge.
• Risk governance experience.
• ETRM systems experience.

Education

• Bachelor’s degree in Accounting, Finance, Economics, Business, Risk Management, or a relevant degree.
• Equivalent experience may be considered.