Director Settlements, Retail & Market
Electric Reliability Council of Texas
ERCOT is committed to fostering diversity and inclusion at all levels of our company. It is the cornerstone of our corporate values of accountability, leadership, innovation, trust, and expertise. We accept and celebrate those that join us and recognize that individuals with a wide variety of talents, ideas, and experiences propel the innovation that drives our success. A diverse and inclusive workforce strengthens us and allows for a collaborative environment to solve the challenges that face our industry today and in the future.
ERCOT offers the flexibility to work both in and out of the office within the state of Texas, providing our employees with an enhanced work life balance.
Develops and directs the strategy, processes and procedures for all commercial operations related to retail customer choice, settlement metering, meter data acquisition and aggregation, wholesale market settlements and billing, the Renewable Energy Credit program, and the Credit Department. Establishes, monitors, and refines workflow and business processes to meet operational goals and requirements for all market operations support functions. Directs the planning and selection of the technical systems that facilitate the market responsibilities at ERCOT. Provides leadership for developing and guiding the credit strategy to assess market participant creditworthiness, unsecured credit limits and appropriate risk mitigation ensuring that vendors meet financial requirements and that adequate internal controls over the credit processes are in place and maintained.
- Responsible for hiring, coaching, training, and performance management of staff.
- Regularly interacts with executives and/or major customers. Interactions frequently involve special skills, such as negotiating with customers or management regarding matters of significance to the organization.
- Typically directs and controls the activities of a broad functional area through several department managers within ERCOT. Has overall control of planning, staffing, budgeting, managing expense priorities, and recommending and implementing changes to methods.
- Responsible for budgetary decisions within functional area according to organizational policy/guidelines. Recommends financial decisions that impact area of responsibility.
Director Settlements, Retail and Credit
- Directs and oversees the work of the Settlements, Retail and Credit Operations division
- Maintains detailed knowledge of the functional, technical, and operational aspects of the division
- Maintains working knowledge of the cross-functional process, data, and technical dependencies of systems and processes upstream and downstream of the division functions
- Participates in the oversight and management processes for ERCOT-sponsored revision requests, revision impact analysis, and prioritization of capital projects and enhancements
- Provides oversight and management for projects or enhancements to implement or modify Settlements, Retail, and Credit Operations systems, business tools, and business procedures
- Promotes inter-department and inter-division communication and information sharing
- Directs identification and implementation of initiatives in alignment with ERCOT's Strategic Plan
- Prepares and administers the Settlements, Retail and Credit Operations budgets and financial goals
- Serves in designated role on ERCOT's Disaster Management Team
- Oversees ongoing credit portfolio management through monitoring exception reports, reviewing risk ratings, exposure assessments and collateral management
- Plans, directs and controls credit operations that include credit analysis, internal control processes and record-keeping in full compliance with ERCOT Protocols and other applicable binding documents
- Directs in depth analysis, research and forecasting for trends, exposures and opportunities within the bulk power electric markets
- Manages quantitative modeling and exposure analysis processes for credit worthiness of market participants
- Assigns unsecured credit limits and monitors compliance
- Manages bankruptcy and legal issues as it pertains to default of market participants
- Develops and regularly produces performance measures useful to management assessing progress toward corporate goals. Ensures that the CEO, VP of Commercial Operations, VP of Finance and Treasury and Board have the data needed to make policy decisions regarding credit administration
- Addresses questions and issues brought forward during internal and external exposure reviews
- Identifies, communicates and assists relevant teams with addressing non-compliant accounts
- Works with teams to meet reporting requirements for Finance, Board, PUC and others
- Prepares and delivers clear and concise communications about credit and market policies for the bulk power electrical markets within ERCOT's jurisdiction
- Maintains a culture of compliance with ERCOT's binding documents
- Facilitates division compliance with internal and external audits, including but not limited to the SSAE16 Audit
- Actively participates in the stakeholder process as a subject matter expert on Settlements and Retail Operations
- Serves as an expert witness for all Settlements and Retail Operations issues for hearings with the Governing Board, legal and regulatory bodies
- Develops and maintains an understanding of similar activities in the competitive energy markets in North America and abroad
- Requires minimum 10 years job related work experience and 5 years in a management or leadership role in excess of degree requirements. Minimum years of job related experience can include time in leadership roles.
- Requires minimum 10 years of progressively responsible experience in electric utility industry
- Bachelor's Degree : Business, Engineering, Mathematics (Required)
- or a combination of education and experience that provides equivalent knowledge to a major in such fields is required
About this Employer
The Electric Reliability Council of Texas (ERCOT) manages the flow of electric power to more than 26 million Texas customers -- representing about 90 percent of the state’s electric load. As the independent system operator for the region, ERCOT schedules power on an electric grid that connects more than 52,700+ miles of transmission lines and 1,030+ generation units, including PUNs. It also performs financial settlement for the competitive wholesale bulk-power market and administers retail switching for 8 million premises in competitive choice areas. ERCOT is a membership-based 501(c)(4) nonprofit corporation, governed by a board of directors and subject to oversight by the Public Utility Commission of Texas and the Texas Legislature. Its members include consumers, cooperatives, generators, power marketers, retail electric providers, investor-owned electric utilities, transmission and distribution providers and municipally owned electric utilities.