Credit Risk Analyst

ISO New England operates the power grid 24/7 and designs, runs, and oversees the region's wholesale electricity markets to ensure reliable, competitively priced electricity for New England. The Market and Credit Risk Department provides a solid foundation for the company's risk management of credit and market risks as the central clearing counterpart in the Northeast electricity markets. The Department plays a key role in the organization's mission, as it is responsible for developing market and credit risk management solutions as well as operating collateral management processes to support the ISO's $10 billion suite of auction-based electricity markets. In these markets, participants buy and sell a variety of products and services through the ISO as the central clearing counterpart including - for example - very short-run (every five-minute) transactions for energy delivery, and multi-year forward contracts that facilitate the entry and exit of new technologies and generation facilities. ISO New England, therefore, seeks a talented Principal Credit Risk Analyst to join the Market and Credit Risk Department. The successful candidate will help mitigate credit risk posed by market participants (buyers / sellers) to the ISO, as the central clearing counterpart, through the execution and completion of several major risk management responsibilities.

What we offer you:

• 100% remote with travel to the office when required

• Base salary plus performance bonus program, professional development and tuition reimbursement, enhanced 401k and financial planning, wellness programs with onsite gym, onsite cafe with free coffee, flexible work hours, access to business networks & more, all in a stable and supportive work environment!

How you will make an impact:

• Conduct in-depth credit analysis of corporates, municipals, banks and insurance companies involved in ISO New England's markets including financial statement analysis, industry risk evaluation, and stress testing
• Analyzing financial information such as balance sheets, income and cash flow statements, and periodic financial reporting of all types
• Develop and maintain financial models to assess credit exposure, assign risk ratings, and evaluate potential default scenarios
• Prepare concise and objective credit memorandum for senior management on a periodic basis
• Continuously monitor credit risk metrics, market developments, and counterparties' financial health, providing timely escalation updates to senior management
• Keep well informed as to market conditions as it relates to assessing risk in credit portfolio
• Maintain credit watchlist portfolio of entities that pose a higher credit risk
• Recommend potential risk mitigating actions to the Director of Market and Credit Risk regarding entities on the credit watchlist
• Responsible for managing security agreements such as guarantees, LCs and surety bonds
• Monitoring of ISO's contractual rights to mitigate deteriorating creditworthiness
• Act as initial point-of-contact within the ISO regarding acceptance / rejection of guarantees and surety bonds
• Develop and propose credit risk mitigation strategies and policies for ISO New England in its role as a central clearing counterparty

What you need to be successful in this role:

• Bachelor's Degree in Business, Finance or other technical area required
• 5+ years prior directly related experience working in the credit risk department in the Financial (Banking, Brokers or Insurance Industry, or at an ISO, Central Clearing Counterpart, Commodity Trading Company, or Electric Utility Company
• Strong knowledge of the commodities and energy markets as well as counterparty risk management
• Broad understanding of the role of the ISO as a central clearing counterpart
• Expert knowledge of collateral management instruments such as letters of credit and other security arrangements (guarantees / surety bonds / liens)
• Expertise in financial statement analysis, credit modeling, and risk assessment
• Works well independently and with a team
• Strong communication skills
• Ability to work in a fast-paced, high-pressure environment and make sound credit decisions

#LI-REMOTE

Equal Opportunity: We are proud to be an EEO/AA employer. Applicants for employment are considered without regard to race, color, religion, creed, sex (including pregnancy, childbirth, and related medical conditions), gender identity or expression, sexual orientation, citizenship, national origin, age, ancestry, marital status, disability (including learning, mental, intellectual, and physical), service in the uniformed services, genetic information, or any other status protected by applicable law.

Drug Free Environment: We maintain a drug-free workplace and perform pre-employment substance abuse testing.

• ISO New England Inc., One Sullivan Road, Holyoke, Massachusetts, United States of America
• Virtual