Risk Analyst

FirstEnergy-posted 13 days ago
Full-time • Mid Level
Akron, OH
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This is an open position with FirstEnergy Service Company, a subsidiary of FirstEnergy Corp. The position is within the Risk group and reports to the Director, Enterprise Risk Management. It can be located within our five-state service territory (Ohio, Pennsylvania, Maryland, West Virginia, or New Jersey) at any major Corporate location. The estimated pay range for this role is $100,725 - $118,500 The pay range for certain locations, including the state of New Jersey, include a 20% differential to account for an increased cost of living, making the pay ranges $120,870 - $142,200. The mission of the Corporate Risk team is to make risk actionable and help FirstEnergy achieve our strategic objectives. We envision a comprehensive and proactive Risk program that enables risk-informed decisions and the pursuit of opportunities. Corporate Risk is composed of two teams: Enterprise Risk Management (ERM) and Insurance Strategy & Operations. The Enterprise Risk Management team works across every area of FirstEnergy and it is expected that its senior contributors be agile learners, strategic thinkers, and able to execute. The successful candidate will have the opportunity to be part of identifying key strategic topics across multiple business units and working with them to manage risks and take advantage of opportunities. The strategy of the ERM team is met through several key responsibilities, each of which will be supported by this position: Support and/or lead portions of the enterprise risk assessment, which is an annual exercise to work across all of FE to identify and assess the top strategic risks to the business and provide assurance that they are managed. This team executes the annual risk assessment through both a bottom-up and top-down approach to assess risks, pressure-test mitigation plans, and determine the overall risk profile of FE. Lead Risk Reviews of prioritized enterprise risks which will deep-dive the most important drivers of these risks, identify current and potential mitigation plans, and determine if there are gaps to exploit new opportunities. Perform risk advisory services to support business units and senior management to continue to manage enterprise risks through strategic projects that produce insights for the business as to how to best manage risks and capture opportunities on enterprise topics. Lead the enterprise risk management program within one or more of FE’s business segments (OH, PA, NJ, WV/MD, and/or FE Transmission) by working with risk owners within each of these segments to support FE’s “risk intelligence” and ability to manage risks. Identify and implement continuous improvement opportunities to mature the enterprise risk management program to meet the needs of FE’s business units and provide services across FE that support the ERM strategy to make risk actionable. The successful candidate will have responsibility for various projects across the ERM program and will: Have solid knowledge of FE’s business and strategic objectives and ability to apply that knowledge to evaluate the overall risk profile of the Company Work independently to oversee cross-functional projects on a wide variety of topics Work across several topics at one time and effectively multitask and lead others in their work Have strong communication skills, both written and verbal, that can be effectively tailored to all levels from individual contributors through the Board of Directors

  • Collaborate across Corporate Risk and with business unit leadership (Enterprise risk owners)
  • Encourage team development and drive opportunities for program enhancements
  • Support or lead the Enterprise Risk Assessment (ERA) process from start to finish, connecting the risk assessment to strategic and operational objectives, and providing effective challenge to ensure that risks are properly identified and managed
  • This includes risk identification, assessment, mitigation, and communication
  • The team will hold cross-functional workshops and individual meetings with all levels of the business (individual contributor to Executive Council) to achieve consensus on risk identification, assessment, and mitigation, and this position has responsibility to support and/or lead these workshops
  • Maintain the assigned portion of the Risk Universe (the comprehensive record of all enterprise risks across FE) and monitor and report key changes in a timely fashion
  • Maintain ongoing relationships across the business to identify changes to the risk universe and/or emerging risks
  • Actively research assigned risk topics to support identification of the context of enterprise risks and potential industry-wide solutions
  • Perform assigned Risk Reviews on prioritized risks which will ultimately be delivered to the Board of Directors by Risk Owners. These must be performed according to the annual Risk Reporting calendar to the Board
  • Conduct Risk Advisory Services to support business units in analyzing and managing enterprise-wide risk and opportunities, at times using tools and templates for a standardized approach. This will include leading cross-functional teams to identify impacts of risks across the business and implement solutions. It is a highly collaborative role which will require the team to work closely with business units to lead to strategic solutions
  • Collaborate across Corporate Risk on continuous improvement of the ERM program
  • Will work with collaborators across the business as a source of intelligence to monitor key risks
  • Bachelor’s degree in Finance, Business Administration, Economics, Engineering or related discipline required.
  • Minimum 10 years relevant work experience required.
  • Relevant experience includes risk management, program management, change management and facilitation, or other strategic project leadership roles
  • Other work experiences will be considered if they are demonstrated to be applicable to successfully performing this role
  • Experience leading cross-departmental complex projects in deep collaboration with other business units.
  • Experience working with diverse teams and building an inclusive work environment.
  • Project management skills, including change management
  • Excellent communications skills, written and verbal, including excellent PowerPoint skills and the ability to create presentations tailored to all audiences, from individual contributors through Executive Council and the Board of Directors
  • Superior analytical abilities, including problem-solving, decision-making, and effective challenge
  • Strong understanding or ability to learn risk management processes
  • Strategic thinking and thought leadership with respect to risks and opportunities facing the utility industry and FirstEnergy
  • Highest standards of business conduct and ethical behaviors
  • Role models and reinforces the FE Values & Behaviors
  • Proficient in Microsoft Office applications
  • Advanced degree is a plus but not required
  • competitive pay plus incentive compensation
  • a company-sponsored pension plan
  • 401(k) savings plan with matching employer contribution
  • a choice of medical, prescription drug, dental, vision, and life insurance programs
  • skills development training with tuition reimbursement
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