Manager - Market Credit Analysis

ERCOT • Taylor, TX

2d • $138,000 - $190,000 • Hybrid

About The Position

Responsible for ongoing management of ERCOT’s Market Credit Department. Leads development of ERCOT credit methodology, processes, and capabilities. Assesses market participant creditworthiness and ensures appropriate risk mitigation measures are maintained (adequate and enforceable collateral, liens, etc). Handles inquiries from Market Participants. Responsible for daily collateral transactions. Ensures vendors meet financial requirements. Ensures adequate internal controls over the credit processes are in place and maintained, manages the operational goals of the department, implementing best practices and process improvements. Collaborates with both internal and external stakeholders to communicate issues and areas for improvement.

Requirements

• Requires minimum 8 years related work experience and 2 years in a leadership role in excess of degree requirements
• Requires minimum 8 years of progressively responsible credit management, financial, settlements, or market operations experience
• Bachelor's Degree: Business Administration, Finance, Accounting, or related field (Required) or a combination of education and experience that provides equivalent knowledge to a major in such fields is required

Nice To Haves

• Experience in the electric utility, energy, or ISO/RTO industries
• Mathematical and financial and accounting competency sufficient to understand financial statements and credit assessment concepts
• Master’s Degree preferred

Responsibilities

• Responsible for hiring, coaching, training, and performance management of staff.
• Frequently interacts with reporting supervisors, Market Participants, and/or functional peer group managers, normally involving matters between functional areas or Market Participants.
• Responsible for the management of subordinate staff within a department. Typically has individual contributors as direct reports but could have supervisory direct reports.
• Has full responsibility for direct reports.
• Generally, provides input to budgeting and financial decisions that impact the department. Requests approval for financial actions beyond a limited scope.
• Responsible for day-to-day management of ERCOT’s Credit Department operations, including collateral management, assessment of Market Participant credit-worthiness, and responding to Mark Participant credit inquiries
• Works to improve ERCOT internal credit assessment, methodologies, and capabilities
• Develops new and/or revised credit policies in coordination with appropriate stakeholders and evaluates effectiveness of policies and procedures, recommending and implementing process improvements, including opportunities for automation of credit processes
• Ensures that ERCOT Credit maintains effective internal controls over credit processes
• Oversees the coordination of implementation and testing of enhancements to ERCOT credit systems
• Manages on-going coordination and communication with external stakeholders, including ERCOT stakeholders and PUCT staff, on issues related to credit
• Maintains on-going coordination and communication of credit issues with internal stakeholders, including senior management, Settlements, Legal, and Treasury
• Obtains financial information on new and existing market participants and vendors
• Ensures that credit reporting is effective and timely
• Reviews financial position of new and existing market participants and vendors on a timely basis and documents the result of the review
• Establishes collateral requirements for market participants
• Monitors market participants’ calculated exposure daily
• Provides credit risk reports to management
• Maintains all collateral documentation to ensure mitigation measures are enforceable.
• Reviews reports to ascertain status of collection of outstanding balances
• Pursues collection of unpaid accounts
• Maintains communications with market participants related to credit issues
• Helps coordinate ERCOT activities in the event of a default by a Market Participant
• Maintains awareness of best practices in credit risk management
• Coordinates Credit Work Group meetings and activities

Benefits

• health, dental, vision, life insurance, long/short-term disability insurance, long-term care insurance, Section 125 Flexible Spending Account, and a Retirement Savings Plan.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager