Job Description

Responsible for ongoing management of ERCOT’s Market Credit Department. Leads development of ERCOT credit methodology, processes, and capabilities. Assesses market participant creditworthiness and ensures appropriate risk mitigation measures are maintained (adequate and enforceable collateral, liens, etc). Handles inquiries from Market Participants. Responsible for daily collateral transactions. Ensures vendors meet financial requirements. Ensures adequate internal controls over the credit processes are in place and maintained, manages the operational goals of the department, implementing best practices and process improvements. Collaborates with both internal and external stakeholders to communicate issues and areas for improvement.

JOB DUTIES

• Responsible for hiring, coaching, training, and performance management of staff.
• Frequently interacts with reporting supervisors, Market Participants, and/or functional peer group managers, normally involving matters between functional areas or Market Participants.
• Responsible for the management of subordinate staff within a department. Typically has individual contributors as direct reports but could have supervisory direct reports. Has full responsibility for direct reports.
• Generally, provides input to budgeting and financial decisions that impact the department. Requests approval for financial actions beyond a limited scope.

ADDITIONAL JOB DUTIES

• Responsible for day-to-day management of ERCOT’s Credit Department operations, including collateral management, assessment of Market Participant credit-worthiness, and responding to Mark Participant credit inquiries
• Works to improve ERCOT internal credit assessment, methodologies, and capabilities
• Develops new and/or revised credit policies in coordination with appropriate stakeholders and evaluates effectiveness of policies and procedures, recommending and implementing process improvements, including opportunities for automation of credit processes
• Ensures that ERCOT Credit maintains effective internal controls over credit processes
• Oversees the coordination of implementation and testing of enhancements to ERCOT credit systems
• Manages on-going coordination and communication with external stakeholders, including ERCOT stakeholders and PUCT staff, on issues related to credit
• Maintains on-going coordination and communication of credit issues with internal stakeholders, including senior management, Settlements, Legal, and Treasury
• Obtains financial information on new and existing market participants and vendors
• Ensures that credit reporting is effective and timely
• Reviews financial position of new and existing market participants and vendors on a timely basis and documents the result of the review
• Establishes collateral requirements for market participants
• Monitors market participants’ calculated exposure daily
• Provides credit risk reports to management
• Maintains all collateral documentation to ensure mitigation measures are enforceable.
• Reviews reports to ascertain status of collection of outstanding balances
• Pursues collection of unpaid accounts
• Maintains communications with market participants related to credit issues
• Helps coordinate ERCOT activities in the event of a default by a Market Participant
• Maintains awareness of best practices in credit risk management
• Coordinates Credit Work Group meetings and activities

REQUIRED EXPERIENCE

• Requires minimum 8 years related work experience and 2 years in a leadership role in excess of degree requirements
• Requires minimum 8 years of progressively responsible credit management, financial, settlements, or market operations experience

PREFERRED EXPERIENCE

• Experience in the electric utility, energy, or ISO/RTO industries
• Mathematical and financial and accounting competency sufficient to understand financial statements and credit assessment concepts

EDUCATION

• Bachelor's Degree: Business Administration, Finance, Accounting, or related field (Required)
• or a combination of education and experience that provides equivalent knowledge to a major in such fields is required
• Master’s Degree preferred

WORK LOCATION – Taylor, TX:

• Employees will be required to be on-site in Taylor, TX at a minimum of 2 days per week, or more, as needed based on the business needs as determined by management
• Remote work is required to be performed from your Texas residence.
• Employees may opt to work on-site more than required or 100% of the time

The foregoing description reflects the minimum qualifications and the essential functions of the position that must be performed proficiently with or without reasonable accommodation for individuals with disabilities. It is not an exhaustive list of the duties expected to be performed, and management may, at its discretion, revise or require that other or different tasks be performed as assigned. This job description is not intended to create a contract of employment with ERCOT. Both ERCOT and the employee may exercise their employment-at-will rights at any time. #LI-Hybrid #LI-IV1

ERCOT is firmly committed to equal employment for all qualified persons without regard to race, sex, medical condition, religion, age, creed, national origin, citizenship status, marital status, sexual orientation, physical or mental disability, ancestry, veteran status, genetic information or any other protected category under federal, state or local law.

Expected Salary Range:

$138,000 - $190,000