Director, Enterprise Risk Management

PJM Interconnection; Audubon (NJ); Hybrid; USD 120,000 - 160,000; Full time

Job summary

PJM Interconnection in the United States seeks a Senior ERM professional to lead efforts to identify, measure, and monitor enterprise risk across transactions and infrastructure. You will serve as SME to promote risk awareness and manage the Insurance Program for PJM with the aim of integrating risk management throughout the organization.

The role requires collaborating with management, developing KRIs, and delivering ERM reporting to the executive team and board committees.

Qualifications

• Bachelor's degree in Economics, Finance or equivalent with ERM experience.
• 2+ years in a leadership role within risk management.
• Experience in energy and/or utility environments and knowledge of global Insurance Markets.
• Knowledge of AML, anti-corruption, FCPA and OFAC practices.

Responsibilities

• Support the Chief Risk Officer in measuring evolving risk and moderation strategies.
• Develop educational resources on the ERM framework and KRIs.
• Collaborate with risk owners to quantify KRIs and risk parameters.
• Report current risk levels and document management recommendations.
• Develop measurement components of the ERM framework and dashboards.
• Lead PJM Insurance Program and coordinate with finance and executive teams.
• Prepare quarterly ERMC reports and ad hoc board materials.

Skills

ERM leadership

Risk assessment

Insurance knowledge

KRI development

AML knowledge

FCPA/OFAC knowledge

Stakeholder management

Team leadership

Communication

Analytics

Education

Bachelor's degree Economics or Finance or equivalent

MBA (preferred)

Job description

Flexible Work Arrangement: Hybrid
Leads efforts to identify, measure, and monitor the Company's risk in how its transactions and infrastructure function. Serves as the subject matter expert to promote and augment awareness across the Company for Enterprise Risk Management (ERM), manages the Insurance Program for PJM, and manages the Know Your Customer process for PJM with the goal to better integrate risk management into the organization. Responsible for understanding the scope of the potential risk factors that could affect the operations of the organization. Contributes to the overall quality of risk management across the company by calculating, evaluating and providing written commentary upon various risks at an enterprise level.

Essential Functions:

• Support the Chief Risk Officer in collaborating with management in the respective business units to comprehend and measure evolving risk and risk moderation strategies as measured within the board approved risk appetite.
• Develop educational resources for the sole purpose of educating stakeholders, mechanisms of the enterprise risk management framework, universal risk parameters, risk -specific parameters, and key risk indicators (KRI).
• Collaborates with risk owners to comprehend key risk indicators (KRI) that have been planned and applied in order to quantify the variety of current and future risk compared to recognized risk parameters field such as capacity, target, or tolerance linked with the respective risk defined parameters.
• Report on the current assessed level of risk and document recommendations on managing risks. Contribute to risk reporting initiatives such as process improvement and technology efforts to enhance efficiency and/or accuracy of reporting.
• Assist in developing and implementing measurement components of the ERM framework.
• Help build, design and implement various methodologies, measures, models and dashboards for risk compliance
• Construct reviews and quarterly profiles for presentation to the ERMC (enterprise risk management committee) and produce ad hoc reports for the executive team and board committee(s) as required. Manages the preparation of all required reporting with regard to ERM for PJM.
• Provides leadership on the implementation of ERM standards at PJM.
• Provides Leadership for the PJM Insurance Program and collaborates with PJM Staff, PJM finance, the Executive Team, and the Risk and Audit Committee to meet all objectives with regard to 3rd Party Insurance coverage.

Characteristic and Qualifications:

Required:

• Bachelor degree Economics, Finance or equivalent work experience prior enterprise risk management experience working within an energy and/or utility environment preferred.
• Prior enterprise risk management experience working within an energy and/or utility environment preferred.
• Experience in global and Insurance Markets for a large corporation with facilities and operational risk.
• Knowledge of rules governing Anti-Money Laundering, Anti-corruption, FCPA, and OFAC and the best practices regarding prevention of violations for any of the above items.
• 2+ years of leadership experience in a managerial/supervisory role.
• Ability to develop strong relationships with multiple departments and divisions
• Ability to work in a team environment as a team member or as team leader

Preferred

• MBA, degree
• Experience working within an energy and/or utility environment is preferred
• 5-10 years of leadership experience in a managerial/supervisory role.
• Ability and desire to build relationships and interact with a wide range of stakeholders and staff to maintain and enhance PJM’s customer service reputation
• Experience with PJM operations, markets, and planning functions