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Enterprise Credit Manager

PSEG

Posted Wednesday, May 15, 2024

Posting ID: 1168273500

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Newark, NJ
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Requisition: 78535

PSEG Company: PSEG Services Corp.

Salary Range: $ 101,600 - $ 160,900

Incentive: PIP 15%

Work Location Category: Hybrid

PSEG operates under a Flexible Work Model where flexible work is offered when job requirements allow. In support of this model, roles have been categorized into one of four work location categories: onsite roles, hybrid roles that are a blend of onsite and remote work, remote local roles that are primarily home-based but require some level of purpose-driven in-person interaction and living within a commutable distance, and remote non-local roles that can be effectively performed remotely with the ability to work in approved states.

We want you to be healthy, balanced, and feel secure. That's why you'll enjoy a comprehensive range of benefits, with a focus on supporting your whole health. Starting on day one of your employment, you'll be offered several health-related benefits including medical, vision, dental, and well-being and behavioral health programs. We also offer 401(k) with company match, company paid life insurance, tuition reimbursement and a minimum of 18 days of paid time off per year.

PSEG offers a unique experience to our more than 12,000 employees - we provide the resources and opportunities for career development that come with being a Fortune 500 company, as well as the attention, camaraderie and care for one another you might typically associate with a small business. Our focus on combatting climate change through clean energy technology, our new net zero climate vision for 2030 and enhanced commitment to diversity, equity and inclusion; and supporting the communities we serve make this a particularly exciting time to join PSEG.

Job Summary

Using financial statement analysis and the PSEG Credit Scoring model, evaluate the financial condition of PSEG counterparties such as vendors and wholesale energy counterparties and recommend counterparty credit limits. Analyze the associated agreement to identify credit risk, quantify the potential credit exposure and recommend credit provisions to mitigate credit exposure. Collaborate with lines of business, procurement and commercial law to negotiate credit provisions. Monitor counterparty financial status. Track and monitor counterparty collateral. Prepare reports and presentations for senior management covering enterprise credit risk topics. Provide detailed input on credit risk items to SEC documents such as the 10Q and 10K and ensure compliance with Sarbane Oxley controls. Recommend and implement improvements and provide support for credit risk management systems.

Job Responsibilities

  • Using financial statement analysis and the PSEG Credit Scoring model, evaluate the financial condition of PSEG counterparties such as vendors and wholesale energy counterparties and recommend counterparty credit limits
  • Analyze agreements to identify credit risk, quantify the potential credit exposure and recommend credit provisions to mitigate credit exposure
  • Collaborate with lines of business, procurement and commercial law to negotiate credit provisions for contracts and agreements
  • Prepare reports and presentations for senior management covering enterprise credit risk topics
  • Track and monitor credit support both issued to and received from counterparties
  • Provide detailed input on credit risk items to SEC documents such as the 10Q and 10K and ensure compliance with Sarbane Oxley controls
  • Recommend and implement improvements and provide support for credit risk management systems

Job Specific Qualifications

  • Bachelor's degree in Business, Finance, Accounting or Engineering
  • Minimum of five years of experience in credit risk management or related financial experience
  • Proven team player with experience working across functional areas
  • Strong project management skills
  • Excellent written and oral communication skills. Must be able to effectively interact with senior executives both inside and outside the organization
  • Demonstrated proficiency with Microsoft Excel and Powerpoint
  • Strong negotiation skills. Must have ability to negotiate with internal and external parties
  • Thorough understanding of financial statement analysis, the ability to interpret contract terms,recommend credit limits and credit risk mitigation measures
  • Must foster an inclusive work environment and respect all aspects of diversity. Must demonstrate and value differences in others' strengths, perspectives, approaches, and personal choices

Desired:

  • MBA in Finance
  • Understanding of electric and gas commodity markets
  • Understanding of ISOs and the role they play in the energy markets
  • Knowledge of credit risk systems
  • Knowledge of the Aligne deal capture system including strong report development skills
  • Understanding of and ability to model different types of credit exposure
  • Understanding of and ability to develop reports for various types of credit risk measurements
  • Knowledge of credit risk management methodologies and techniques
  • Knowledge of energy agreements (ISDA, EEI, NAESB)
  • Knowledge of vendor/supplier contracts

Minimum Years of Experience

5 years of experience

Education

Bachelors in Finance or Accounting

Bachelor in Business or Engineering

Certifications

None Noted

Disclaimer

Certain positions at the Company may require you to have access to Part 810-Controlled Information. Under the law, the Company is limited in who it can share this information with and in certain circumstances it is necessary to obtain specific authorization before the Company can share this information. Accordingly, if the position does require access to this information, you must complete a 10 CFR Part 810 Export Control Compliance Nationality Request Form, a copy of which will be provided to you by Talent Acquisition if an offer is made. If there is a need for specific authorization, due to the time it takes to obtain authorization from the government, we will likely not be able to further proceed with an offer

PSEG is an equal opportunity employer, dedicated to a policy of non-discrimination in employment, including the hiring process, based on any legally protected characteristic. Legally protected characteristics include race, color, religion, national origin, sex, age, marital status, sexual orientation, disability or veteran status or any other characteristic protected by federal, state, or local law in locations where PSEG employs individuals.

As an employee of PSEG you should be aware that during storm restoration efforts, you may be required to perform functions outside of your routine duties and on a schedule that may be different from normal operations.

For all roles, PSEG's drug and alcohol testing program includes pre-employment testing, testing for cause, and post-incident/accident testing. For employees in federally regulated roles (including positions covered by USDOT, PHMSA, or NRC regulations), this also includes random testing. Although numerous states throughout the country have legalized marijuana/cannabis products recreationally and/or medically, it is prohibited for employees in federally regulated roles. Employees who are hired or transfer into a federally regulated role are subject to drug and alcohol testing, inclusive of marijuana. Please note that the use of CBD products may result in a positive drug test for THC/Marijuana and such use is not a legitimate medical explanation for such a positive result.

PSEG employees must apply for jobs internally through emPower which can be accessed through sharepoint.pseg.com by clicking on the emPower icon, then selecting careers. This site (PSEG Careers and Job Openings) is strictly for candidates who are not currently PSEG employees, with the exception of PSEG employees who do not have company email addresses.

PSEG is committed to providing reasonable accommodations to individuals with disabilities. If you have a disability and need assistance applying for a position, please call 973-430-3845 or email accommodations@pseg.com.

If you need to request a reasonable accommodation to perform the essential functions of the job, email accommodations@pseg.com. Any information provided regarding a disability will be kept strictly confidential and will not be shared with anyone involved in making a hiring decision.

ADDITIONAL EEO/AA INFORMATION (Click link below)

Know your Rights: Workplace Discrimination is Illegal

Pay Transparency Nondiscrimination Provision

Contact Information

Email: at-jobfeeds+pseg@careercircle.com

The company is an equal opportunity employer and will consider all applications without regards to race, sex, age, color, religion, national origin, veteran status, disability, sexual orientation, gender identity, genetic information or any characteristic protected by law.
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