The Market and Credit Risk Management (M&CRM) department consists of Market and Transaction Risk, Credit and Emerging Risk, Governance, Analysis and Modeling and Infrastructure and Controls functions. PG&E engages in various standard and nonstandard natural gas and electric procurement activities, and it is the responsibility of the M&CRM department to facilitate transaction execution and assist in mitigating market, credit and liquidity risks associated with contractual ligations and associated potential liquidity requirements.
The Credit and Emerging Risk (CRM) group within M&CRM is responsible for performing credit and liquidity analyses, developing credit standard and policies, negotiating credit terms and financial securities as needed, assessing portfolio credit risk and ensuring credit risk function meets corporate and utility policies and standards. CRM supports many business areas including but not limited to transactional activities associated with natural gas, electricity, nuclear fuels, electric and gas operations. CRM also provides credit assessment and analysis in support of supply chain contracting activities and other emerging risks. Since the utility must comply with state and federal regulation, CRM supports various regulatory efforts across the company as it relates to credit risk monitoring, reporting and analyses.
Principal is an individual contributor position within CRM and is expected to contribute in all of the above areas in most cases as a lead and expert in the credit risk area.
- Defines processes and metrics for evaluating counterparty credit exposure.
- Reviews credit evaluations for completeness and accuracy.
- Leads evaluation of counterparty's financial strength based on standard guidelines and procedures using financial analyses of financial statements and other relevant market intelligence.
- Leads negotiations of credit terms and limit threshold levels for various agreements.
- Leads evaluation of current and potential exposures for all transactions associated with counterparties.
- Liaises with treasury, front office, and settlement group to quantify the amount of collateral to be posted or collected and track the levels of interest expenses or income associated with collateral activities.
- Leads development of complete procedures and processes to maintain and manage credit information in system of record.
- Evaluates emerging risks that impact the management of counterparty credit and liquidity risks such as financial, FERC and CAISO reforms.
- Assures new legislation or regulations are appropriately addressed in contracts and controls.
- Serves as a professional witness in regulatory proceedings as needed.
- Bachelor's degree in Finance, Engineering, Business, Economics, Information Systems, Statistics, Mathematics or equivalent work experience
- Minimum of eight years in accounting, finance, procurement, settlement, or credit risk management and counterparty evaluation, and project management.
- Excellent written and verbal communication skills.
- Proven Microsoft office expertise.
- Master's Degree
- Demonstrated ability to work with front office in solving problems and assessing corresponding transactional credit risks as necessary.
- Prior credit risk management experience in utility or energy industry preferred.
- Good understanding of energy industry contracts including but not limited to EEIs, NAESBs, ISDAs, and Power Purchas/Sale Agreements.
- Prior project management skills.
- Applies knowledge, skills, and techniques to define, control, report, and improve processes.