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Director, Market and Credit Risk

ISO New England

Location: Holyoke, MA US
Position Type:
Rqd Education:
Rqd Experience: 2 - 5 years
Date Posted: September 11, 2022
Reference Code: 123765407
Do you want to be involved in the region's clean energy future?! ISO New England is currently seeking a dynamic professional to join our team as the Director of Market and Credit Risk. This enthusiastic person will actively lead the design effort and development of new and innovative credit policies as part of the region's transition to a clean energy future. In addition, this person will oversee the Company's administration of the market and credit risk program, through the FERC filed Tariff (Financial Assurance Policy) and represent ISO-NE as its expert in market risk and credit practices among internal and external stakeholders.

How you will make an impact
  • Assess the financial risks associated with new and existing wholesale energy markets
  • Design and implement new and updated credit policies
  • Communicate and gain consensus on new and updated credit risk policies with external stakeholders, such as traditional utility companies, power marketers, etc. and the ISO's regulator - FERC - Including provide supporting testimony for proposed changes
  • Oversee the administration of the FERC filed credit policies to ensure compliance with the filed Tariffs
  • Perform periodic stress tests to evaluate the credit policies
  • Provide effective leadership to the staff in the operations of the department
  • Represent ISO-NE's Market and Credit Risk department at external stakeholder meetings and other industry groups
  • Engage in regular discussions with senior staff, other directors and managers of the Company to share ideas and strategies as new markets are evolving
What we are looking for
  • Bachelor's degree in Finance, Economics, Financial Engineering, Applied Mathematics, Master's degree or MBA preferred
  • 15+ years of relevant work experience (financial/credit/trade risk management, project management).
  • Expert knowledge of credit/market risk principles and practices
  • Expert knowledge of energy or commodity derivatives; such as futures, forwards, swaps and options
  • Applied knowledge of market and credit risk measurement techniques such as VaR, historical simulation, Monte Carlo simulation, stress testing
  • Strong project management, facilitation and negotiation skills, including demonstrated ability to lead projects and to achieve results leveraging cross-functional, matrixed resources
  • Strong interpersonal skills including the ability to develop relationships and build coalitions and lead, motivate and manage a team
  • Demonstrated written and oral communication skills and ability to present complex material to a diverse audience
Desired not required
  • Experience with Northeast electricity or natural gas markets a plus
  • Certification in Financial Risk Management (FRM) and/or Energy Risk Professional (ERP)
Clarity of purpose is the starting point for all success. The ISO's mission, vision, and values define our purpose-these values serve as the cultural cornerstones of theorganization.

Mission: Through collaboration and innovation, ISO New England plans the transmission system, administers the region's wholesale markets, and operates the power system to ensure reliable and competitively priced wholesale electricity.

Vision: To harness the power of competition and advanced technologies to reliably plan and operate the grid as the region transitions to clean energy.

Values: Expertise, Respect, Innovation, Dependability and Collaboration

What We Offer: Located in Holyoke, MA amid the picturesque Pioneer Valley of Western Massachusetts, our employees get the best of both rural and urban living, enjoying day-to-day local community culture and conveniences with drivable access to big city amenities. Our competitive base salaries, performance-driven bonus incentive offering, as well as a variety of health, wellness, and professional development benefits underscore the value we place in our employees. Beyond our comprehensive medical, dental, and vision plans, we encourage continuous learning through our training and tuition reimbursement programs and support work-life balance with flex hours, hybrid work models for most roles, and paid vacation and holidays. Our benefits strive to fulfill the needs of our employees across life's stages, with paid parental time off, health and wellness programs, 401k with company match, and a retirement plan. For the convenience of our employees, we offer complimentary access to our onsite fitness center and a cafeteria with free coffee.

COVID-19 Policy: Employee safety and well-being is a priority at ISO New England. To safeguard our teams and the important work they do, ISO New England has a mandatory COVID-19 vaccination policy.

Equal Opportunity : We are proud to be an EEO/AA employer. Applicants for employment are considered without regard to race, creed, color, citizenship, religion, sex, sexual orientation, marital status, national origin, age, disability, status as a veteran, Vietnam Era Veteran, or being a member of the Reserves or National Guard.

Drug Free Environment: We maintain a drug-free workplace and perform pre-employment substance abuse testing.

Social Networking Notice : ISO New England reserves the right to review the candidate's postings on any social networking site accessible in the public domain as part of the candidate assessment process.

Other details
  • Pay Type Salary
About this Employer‍

Keeping the lights on in New England

We are the independent, not-for-profit corporation responsible for keeping electricity flowing across the six New England states and ensuring that the region has reliable, competitively priced wholesale electricity today and into the future.