The Authority’s Enterprise Risk Management group is responsible for facilitating a structured process to identify, categorize, measure, mitigate, and monitor risks across the organization. Enterprise Risk Management consolidates risk assessments conducted throughout the organization into expressions of risk around critical drivers to the Authority’s success, such as financial liquidity, operational reliability, energy market (price and volume), credit, legal/compliance, and energy efficiency objectives. The goal of Enterprise Risk Management is to provide a forward-looking perspective as to the potential outcomes that may be realized in order to inform executive and line management in advance of the potential for unacceptable outcomes.
As a key member of the Enterprise Risk Management team, you will interact with all levels of the organization to facilitate the identification, definition, assessment, analysis and monitoring of risks. In addition, you will perform quantitative and qualitative statistical analysis on individual risks and the risk inventory to identify the forward impact on the Authority's goals and to identify underlying risk relationships.
Additional responsibilities include, but are not limited to:
Travel – Less than 25% travel within New York State
- Monitor emerging risks, analyze risk trends and work with risk owners to analyze complex risks
- Assist in the development of written reports and presentations to all organizational levels including executive management and regional sites
- Be an advocate for risk management and for applying risk management principals across the enterprise
- Maintain individual risks and the risk inventory in the Enterprise Risk Management software; coordinate the resolution of risk software problems with the vendor or NYPA IT department as needed
- Assist in the development of training materials and assist in conducting risk education/training
- Participate in ensuring the effective alignment of Enterprise Risk with Internal Audit, Compliance, and the Office of Strategy Management
- Update and maintain Enterprise Risk framework, policies, procedures, and other associated governance documentation
Bachelor’s degree in Business Administration, Finance, Accounting, or Economics or equivalent work experience . A minimum of 4 years directly relevant experience with risk analysis, integration of business processes and development/implementation of enterprise risk programs is required. NOTE: Will hire up to 4BMN depending on experience.
- Working knowledge of various types of risk including, Market Risk, Operational Risk, Credit Risk, Legal/Compliance Risk, Liquidity Risk, Financial Instrument Risk.
- General knowledge of Enterprise-wide Risk management program development and implementation including best practices, frameworks, and associated software systems.
- Firm understanding of the fundamentals of probabilistic scenario analysis and the associated application to risk management.
- Strong understanding of financial instruments and analysis techniques (value at risk, cash flow at risk, earnings at risk)
- Proficient in spreadsheet and/or statistical analysis packages. Working knowledge of Access, Word, PowerPoint, statistical software, and MS Project.
- Strong understanding of enterprise risk management best practices as they apply to the energy/utility industry
- Understanding of the deregulated NYISO energy marketplace
- Ability to prepare and deliver clear and concise summary and insights
- Ability to work and interact with all levels of management and across all business units/departments
- Ability to clearly communicate and present analysis results and underlying assumptions with clarity.
New York Power Authority - 2 years ago