Mgr Energy Mkts Hedging & Crdt Oversight

Pay Grade

18

Position Summary

This position resides within the Enterprise Risk Management & Solutions (ERMS) division and carries the primary responsibility for leading the full spectrum of Middle Office functions supporting power and fuel trading activities that are integral to the organization’s trading portfolio and overall risk exposure. Working with cross-functional partners such as Financial Services, Power Generation, and Energy Supply & Market Operations (ESMO) this position provides strategic leadership in maintaining continuous regulatory, policy, and procedural compliance. Guided by financial modeling and analytical insights, the role supports strategic decision-making across for the organization’s trading portfolio and associated risks.

Responsibilities encompass activities such as credit analysis, counterparty risk, collateral exposure, and compliance oversight. This role leads the evaluation and analysis of complex trading strategies and risk. Additional responsibilities include, driving enhancements to the internal control framework, financial governance, and reporting processes to improve operational efficiency, transparency, and accountability.

Tasks and Responsibilities

• Oversees Middle Office processes related to hedging and counterparty credit, including serving as ERMS liaison to the Corporate Governance committee’s (Hedging Operations Committee (HOC), and Energy Portfolio Strategy Committee (EPSC)) who are responsible for oversight and compliance.
• Oversees monthly, quarterly reports preparation, and annual audit process related to the derivatives.
• Evaluates and sign off on congestion revenue right (CRR) models, Mid and Long-term Power models and derivative scenario models, including the review of model integrity & consistency, assumption accuracy, input validation, pricing reasonableness and scenario analysis. Develop standardization requirements in conjunction with ESMO. Provide formal output to EPSC on findings.
• Evaluates and sign off on all proposed mid and long-term power transactions prior to presentation to EPSC (governance committee.) Provide formal output to EPSC on findings.
• Evaluates and recommend alternative stress scenarios and identify potential operational, financial or ERCOT exposures and recommended mitigations.
• Oversees the financial implementation of new and extensive Dodd Frank regulations.
• Participates in ERCOT Credit & Finance Subgroups to ensure compliance with applicable requirements and awareness of proposed future protocol changes.
• Develops, establishes, and enforces power trading risk thresholds including potential counterparty exposure per transaction.
• Establishes annual independent validation of all front office input models that support mid and long-term power transaction models.
• Manages CPS Energy’s credit analysis, exposure management and counterparty risk activities, including daily reporting and special initiatives, studies and assignments. Leads research of opportunities to improve credit ratings and manages subsequent implementations.
• Provides oversight and monitoring of the Mark-to-Market (M-t-M) valuation of all forward transactions on CPS Energy’s books to ensure compliance with credit limits and thresholds and recommend strategy changes if required.
• Manages the oversight of CPS Energy’s Fuels Hedging Program as specified in the “Energy Price Risk Management Policy.” Including facilitation of Hedging Operations Committee meetings, review of hedge program performance, hedge program reporting, and other activities referred to in the policy.
• Manages and develops Energy Market Hedging & Credit Oversight staff.
• Tracks and manages budget expectations.
• Leads process improvements.

Minimum Skills

Minimum Knowledge and Abilities

Preferred Qualifications

• Master’s degree in Finance, Accounting, or other related business field.
• Certified Public Accountant (CPA), Chartered Financial Analyst (CFA) or other related finance, or risk certification.
  

Competencies

Minimum Education

Required Certifications

Working Environment

Physical Demands