Requisition: 74012
PSEG Company: PSEG Services Corp.
Salary Range: $ 121,300 – $ 242,600
Incentive: PIP 20%
Work Location Category: Remote Local
PSEG operates under a Flexible Work Model where flexible work is offered when job requirements allow. In support of this model, roles have been categorized into one of four work location categories: onsite roles, hybrid roles that are a blend of onsite and remote work, remote local roles that are primarily home-based but require some level of purpose-driven in-person interaction and living within a commutable distance, and remote non-local roles that can be effectively performed remotely with the ability to work in approved states.
PSEG offers a unique experience to our more than 12,000 employees – we provide the resources and opportunities for career development that come with being a Fortune 500 company, as well as the attention, camaraderie and care for one another you might typically associate with a small business. Our focus on combatting climate change through clean energy technology, our new net zero climate vision for 2030 and enhanced commitment to diversity, equity and inclusion; and supporting the communities we serve make this a particularly exciting time to join PSEG.
Job Summary
The Manager – Enterprise Credit is responsible for the operation of the PSEG Enterprise Credit Risk Management function. The primary objective of this function is to protect the company from financial losses due to counterparty default or non-performance. The activities performed in order to support this function include evaluating the financial condition of PSEG counterparties such as vendors, customers and wholesale energy counterparties; recommending counterparty credit limits; analyzing the associated agreement to identify credit risk; quantifying potential credit exposure and recommending credit provisions to mitigate credit exposure.
Job Responsibilities
- Manage the performance of credit risk management activities including in the identification of credit risks, assessment of counterparty financial strength, and implemention of measures to mitigate credit risks related to: energy counterparties, suppliers, large utility customers.
- Develop, review and maintain analytical models in order to evaluate potential credit exposure and projected use of collateral. Analyze data from multiple systems in order to develop reports detailing types of credit exposure and credit risk measurements.
- Manage the issuance of collateral for energy contracts and the assessment with the objective of optimizing the use of corporate liquidity. Manage the monitoring and periodic reporting of counterparty credit risk and collateral. Perform detailed adhoc analysis of credit and liquidity scenarios at management request.
- Manage the reporting of credit risk related information for SEC documents. Ensure compliance with Sarbane Oxley controls.
Job Specific Qualifications
Bachelor’s or advanced degree in Business, Finance, Accounting or other related discipline.
10 years of experience in credit risk management or related financial experience
Proven team player with experience working across functional areas
Strong project management skills
Excellent written and oral communication skills. Must be able to effectively interact with senior executives both inside and outside the organization
Demonstrated proficiency with Microsoft Excel and PowerPoint
Strong negotiation skills. Must have ability to negotiate with internal and external parties
Thorough understanding of financial statement analysis, the ability to interpret contract terms, recommend credit limits and credit risk mitigation measures
Must foster an inclusive work environment and respect all aspects of diversity. Must demonstrate and value differences in others’ strengths, perspectives, approaches, and personal choices
Desired:
- MBA in Finance
- Prior experience managing a team of professionals
- Understanding of electric and gas commodity markets
- Understanding of ISOs and the role they play in the energy markets
- Knowledge of credit risk systems
- Knowledge of the Aligne deal capture system including strong report development skills
- Understanding of and ability to model different types of credit exposure
- Understanding of and ability to develop reports for various types of credit risk measurements
- Knowledge of credit risk management methodologies and techniques
- Knowledge of energy agreements (ISDA, EEI, NAESB)
- Knowledge of credit risk related to supply chain management
Minimum Years of Experience
10 years of experience
Education
Bachelor in Finance or Business
Bachelors in Accounting
Certifications
None Noted
Disclaimer
Certain positions at the Company may require you to have access to Part 810-Controlled Information. Under the law, the Company is limited in who it can share this information with and in certain circumstances it is necessary to obtain specific authorization before the Company can share this information. Accordingly, if the position does require access to this information, you must complete a 10 CFR Part 810 Export Control Compliance Nationality Request Form, a copy of which will be provided to you by Talent Acquisition if an offer is made. If there is a need for specific authorization, due to the time it takes to obtain authorization from the government, we will likely not be able to further proceed with an offer.
Candidates must foster an inclusive work environment and respect all aspects of diversity. Successful candidates must demonstrate and value differences in others’ strengths, perspectives, approaches, and personal choices.
As an employee of PSE&G or PSEG LI, you should be aware that during storm restoration efforts, you may be required to perform functions outside of your routine duties and on a schedule that may be different from normal operations.
Certain positions at the Company may require you to have access to 10 CFR Part 810 controlled information. If the position does require access to this information, the Talent Acquisition representative will provide further details upon making an offer.
PSEG is an equal opportunity employer, dedicated to a policy of non-discrimination in employment, including the hiring process, based on any legally protected characteristic. Legally protected characteristics include race, color, religion, national origin, sex, age, marital status, sexual orientation, disability or veteran status or any other characteristic protected by federal, state, or local law in locations where PSEG employs individuals.
Business needs may cause PSEG to cancel or delay filling position at any time during the selection process.
This site (http://www.pseg.com) is strictly for candidates who are not currently PSEG employees. PSEG employees must apply for jobs internally through emPower which can be accessed through sharepoint.pseg.com by clicking on the emPower icon, then selecting careers.
PEOPLE WITH DISABILITIES:
PSEG is committed to providing reasonable accommodations to individuals with disabilities. If you have a disability and need assistance applying for a position, please call 973-430-3845 or email accommodations@pseg.com. If you need to request a reasonable accommodation to perform the essential functions of the job, email accommodations@pseg.com . Any information provided regarding a disability will be kept strictly confidential and will not be shared with anyone involved in making a hiring decision.
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Nearest Major Market: Newark
Nearest Secondary Market: New York City
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