Credit Risk Analyst

The NYISO’s Finance department invites applications for a full-time Credit Risk Analyst.

The Credit Risk Analyst will assess and review credit portfolios of NYISO Market Participants and assist in conducting credit and financial risk assessments to determine creditworthiness and financial health of over 350 Market Participants/customers and new applicants in compliance with NYISO credit policy. This individual will assist in evaluating the financial health of each Market Participant and applicant utilizing Know Your Customer tools, financial risk management analysis, credit risk analytics and metrics.  They will assist in conducting credit and risk analysis on Interconnection Customers, guarantors and financial institutions. This individual will actively monitor Market Participant credit and risk positions and perform analysis as warranted and perform extensive financial analyses of a non-routine nature. 

ESSENTIAL DUTIES and RESPONSIBILITIES

• Review and analyze unsecured credit lines including, but not limited to
  • Financial Statement analysis, initial credit assessment, annual review and establishment of credit limits. Streamline overall process while ensuring minimized risk to the NYISO marketplace.
  • Ensure quarterly statements are received as defined in the NYISO tariffs and perform credit review to ensure appropriate lines are established.
  • Perform credit analysis on Market Participants and/or holders of letters of credit and/or surety bonds to determine continued creditworthiness per NYISO tariff.
  • Monitor and review ratings for Market Participants, financial institutions and sureties. Make collateral calls as needed based on ratings, r TNW decreases and/or declines due in creditworthiness to credit assessment.
  • Review and analyze current events, news, EDF alerts as they relate to the NYISO Market Participants, financial institutions and sureties.
  • Notify Senior Credit Risk Analyst/Manager, Counterparty & Credit Risk Management of any material change in status.
  • Calculate and include EDF/PD measures using credit software such as CreditEdge and RiskCalc.
  • Apply “what-if” analysis; isolate areas of distress and the drivers in adverse conditions.
  • Propose action plan and submit to Senior Credit Risk Analyst and Manager, Counterparty & Credit Risk Management.
  • Support Senior Credit Risk Analyst in actively monitoring, analyzing and researching the financial health of all Market Participants.
  • Analyze financial statements to assess financial health.
  • Support Senior Credit Risk Analyst in analyzing Market Participant and counterparty trends by sector and Market Participant type
    • Energy price analysis of natural gas futures, electricity futures, renewable energy futures and carbon futures
    • Banking sector analysis of counterparty credit risk, liquidity, credit quality of bank’s debt portfolio (concentrations in low-quality, subprime mortgages), capital adequacy
    • Insurance sector analysis reviewing any changes in liquidity, actuarial, reputation and investment performance risks.
    • Crypto Currency Market analysis reviewing prices and changes in state and federal regulations
  • Evaluate financial impacts as it pertains to each market type including, but not limited to, Generators, Load Serving Entities, Power Marketers and Demand Response Providers
• Utilize various financial ratios and metrics to assess financial health and impacts.
• Evaluate underlying funding sources of Market Participants and applicants, perform risk assessments as warranted.
• Evaluate credit questionnaire (Know Your Customer) responses to determine potential risk posed by Market Participants and applicants.
• Research and investigate ongoing litigation, investigations, sanctions, bankruptcies etc. to determine any financial impact that may affect the NYISO market.
• Create and provide detailed credit risk alerts, including but not limited to, company background, financial and exposure analysis, risk profile and financial impact regarding distressed entities to Senior Credit Risk Analyst for review prior to submitting to Manager, Counterparty and Credit Risk Management and CFO.
• Review daily alerts and news for all Market Participants, financial institutions and sureties. Notify Senior Credit Risk Analyst and Manager, Counterparty and Credit Risk Management of issues and concerns.
• Determine if an entity experiences financial distress and recommend removal of unsecured credit and/or a recommendation to invoke a material adverse change to the Senior Credit Risk Analyst and Manager, Manager, Counterparty and Credit Risk Management
• Secure sufficient credit support from entities experiencing financial difficulty
• Support Senior Credit Risk Analyst in ensuring compliance with the risk verification process
  • Appropriately track and verify risk management policies and procedures received from Market Participants.
  • Perform verification of risk management policies and procedures and work in tandem with Legal to ensure Market Participant compliance.
  • Ensure all TCC Market Participants and 10 – 20% of random Market Participant risk management policies and procedures are verified in accordance with the NYISO tariff annually.
• Support the Senior Credit Analyst in the design, development and implementation of new reporting functionality in R and Tableau that will assist in the effective management of Market Participant, affiliate, Interconnection Customer and counterparty credit risk, as appropriate.
• Support Senior Credit Risk Analyst and Planning to meet tariff obligations as they relate to new projects, Interconnection Studies and Interconnection Customers.
• Obtain thorough knowledge of the Credit Management System and serve as a backup to the Lead Credit Risk Analyst for all related automated system issues.
  • Regression test system functionality to meet project deadlines.
  • Assist Lead Credit Risk Analyst as needed to ensure business requirements are properly documented and implemented.
• Evaluate and assess under-forecasting by Market Participants.
  • Discuss findings with Market Participants and establish next steps to increase forecasts.
• Recommend replacement of forecasts to Senior Credit Risk Analyst and Manager, Counterparty and Credit Risk Management Serve as backup to Senior Credit Risk Analyst in internal and external meetings, as appropriate.
• Cross train in and perform selected duties of Senior Credit Risk Analyst and Associate Credit Risk Analyst as a secondary responsibility including but not limited to: determination of credit issues for new credit applications; monitoring of credit service ratings and action based on that review.
• Share rotation for the weekend and holiday coverage with the credit team for reviewing and approving daily credit exposure 365 days per year.

QUALIFICATIONS

• Bachelor Degree (BS) in Finance, Accounting, Business or related field.
• Five years work experience in credit management and analysis, some of which can be in a commercial environment or public accounting; or equivalent combination of education, training and experience.
  

ADDITIONAL REQUIREMENTS

• Ability to read, analyze and interpret general business periodicals, professional journals, technical procedures or government regulations.  Ability to write reports, business correspondence and procedures.  Ability to effectively present information and respond to questions from managers, vendors, market participants and the general public.
• The ability to add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals.  Ability to compute rate, ratio and percent, and to draw and interpret bar graphs.
• Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.  Ability to deal with problems involving several concrete variables in standardized situations.
• Intermediate competency in Windows operating environment using MS Office applications, e-mail and internet programs.  Intermediate competency in credit scoring management software.

PHYSICAL DEMANDS

While performing the duties of this job, the employee is regularly required to talk or hear.  The employee frequently is required to stand, walk, sit and use hands to perform routine office tasks.  The employee is occasionally required to reach with hands and arms.  The employee must occasionally lift and/or move up to 15 pounds. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

WORK ENVIRONMENT

The noise level in the work environment is usually moderate.  Contact with staff and public will occur.  Travel may be required to attend and/or conduct meetings, conferences and training.­­­­­­­­­­­­ This position may require working nights, weekends or holidays.

The NYISO takes pride in recruiting, developing and retaining highly talented individuals. In addition to competitive salaries, we offer a comprehensive benefits package and innovative reward programs.

The NYISO offers the flexibility to work both in the office and remotely, providing our employees with an enhanced work life balance. While the majority of the responsibilities of this role can be performed remotely, employees will have periodic on-site requirements based on business needs.

All offers of employment will be made contingent upon the successful completion of a drug screening and background check.

The NYISO is an Equal Opportunity Employer and as such, does not discriminate in its hiring or employment practices.