Enterprise Risk Manager

EKPC Company Information

Located in the heart of the Bluegrass state, East Kentucky Power Cooperative is a not-for-profit generation and transmission (G&T) electric utility with headquarters in Winchester, KY which is just a short distance from Lexington. Our cooperative has a vital mission: to safely generate and deliver reliable, affordable and sustainable energy to our 16 owner-member cooperatives serving more than 1 million Kentuckians across 87 counties. We’re leaders in environmental stewardship and we’re committed to provide power to improve the lives of people in Kentucky.

As passionate as we are about providing smart energy solutions, we are equally excited about people. We strive to cultivate connected workplaces where great ideas are born and rewarding careers are built.

EKPC offers a wage and benefits package that ranks among the best in the state. There is no waiting period on our medical, dental and vision insurance plans so you are covered on day one, and the dental plan is free for employees. Our generous 401(k) retirement plan allows employees to start contributing to their plan after a month of service, and after 3 months of service, EKPC will automatically contribute 6.5% of base wages AND match employee contributions up to 4.5%. Our competitive vacation and sick leave package starts day one to allow for flexibly and a healthy work-life balance.

For more information on our plentiful benefits package visit our website at https://www.ekpc.coop/work-ekpc

EKPC is an Equal Employment Opportunity Employer

No Expiration Date

This posting will remain open until the position is filled. We encourage you to apply early as we will review and consider candidates as they are received.

Hybrid Remote Schedule

This role has the option to be a blend of remote and onsite work if department and business needs allow and with approval from direct supervision. Our hybrid remote work schedule combines three (3) days on premises with up to two (2) days remote.

Key Roles

The Enterprise Risk Manager is responsible for the oversight, monitoring, and administration of the company's commodity/market risk, credit risk, and enterprise risk management programs. This position serves as a key advisor and business partner across the organization, collaborating with commercial, fuel procurement, generation, treasury, engineering and construction, accounting, regulatory, legal, and executive leadership teams to identify, evaluate, monitor, and mitigate enterprise-wide risks. The role provides independent risk oversight of energy trading and commercial activities, including the monitoring, valuation, and reporting of mark-to-market exposures associated with commodity transactions. Responsibilities include negotiating credit terms in commercial agreements, managing counterparty credit exposure, optimizing collateral requirements, overseeing PJM credit activities, monitoring compliance with approved risk limits, and administering the company's Enterprise Risk Management (ERM) framework.

Key Responsibilities

For a full job description with a full list of key responsibilities, please visit our website at www.ekpc.coop/work-ekpc

Energy Trading and Commercial Risk Management

• Provide independent risk oversight associated with:
• Power transactions
• Natural gas transactions
• Coal transactions
• Capacity transactions
• Renewable energy products
• Financial hedging instruments
• Exchange-traded products on ICE and other commodity exchanges
• Review and advise on commercial contracts from a risk management perspective.
• Evaluate and monitor exposure arising from fuel supply, transportation, storage, power purchase, and energy trading agreements.

Market Risk Management

• Monitor commodity price risk, basis risk, volumetric risk, liquidity risk, and generation asset exposure.
• Perform independent mark-to-market valuation oversight for commodity transactions and ensure the accuracy, completeness, and integrity of reported market exposures.
• Monitor and report daily, monthly, and periodic mark-to-market positions, profit and loss attribution, value-at-risk, stress testing, and other approved risk metrics.
• Analyze market positions and risk metrics to ensure compliance with approved risk limits.
• Evaluate market conditions and provide recommendations regarding risk exposures and mitigation strategies.

Credit Risk Management

• Negotiate credit and collateral provisions within industry-standard agreements, including:
• EEI Master Power Purchase and Sale Agreements
• NAESB Base Contracts
• ISDA Master Agreements and Credit Support Annexes
• Physical and financial commodity trading agreements
• Establish, maintain, and monitor counterparty credit limits.
• Perform financial and credit analysis of counterparties, suppliers, customers, and trading partners.

PJM Credit and Collateral Management

• Manage the company's PJM credit position and unsecured credit facilities.
• Monitor PJM collateral requirements and liquidity exposures.
• Optimize collateral postings, prepayments, and working capital requirements during periods of market volatility, severe weather events, and generation outages.
• Analyze the impact of PJM market changes on credit requirements and liquidity needs.
• Coordinate with commercial, treasury, accounting, and operations personnel to manage PJM credit exposures effectively.

Enterprise Risk Management

• Administer and continuously improve the company's Enterprise Risk Management (ERM) framework.
• Facilitate enterprise-wide risk assessments and maintain the corporate risk register.
• Identify, evaluate, monitor, and report strategic, operational, financial, regulatory, cybersecurity, and reputational risks.
• Coordinate risk mitigation plans with business leaders throughout the organization.
• Develop and present risk reports, dashboards, key risk indicators, and risk assessments for executive management and the Risk Committee.
• Support the development and maintenance of risk management policies, procedures, governance standards, and internal controls.
• Foster a culture of risk awareness and accountability across the organization through collaboration with business partners and functional leaders.
• Performs other duties as assigned.

Key Requirements

Education and Certifications / Licenses:

• Bachelor's degree in Finance, Economics, Business Administration, Accounting, Engineering, Risk Management, or a related discipline. An equivalent combination of education and experience may substitute.
• Master's degree or professional certification (FRM, ERP, CFA, CPA, or MBA) preferred.

Experience:

• Minimum of seven (7) years of experience in energy risk management, commodity trading, credit risk management, treasury, accounting, or related fields.
• Experience negotiating EEI, NAESB, and ISDA agreements.
• Strong knowledge of wholesale power markets, natural gas markets, coal procurement, and energy trading activities.
• Experience performing mark-to-market valuation oversight and commodity risk reporting.
• Experience managing PJM credit and collateral requirements preferred.
• Experience with exchange-traded energy products and commodity exchanges, including ICE.
• Experience presenting risk issues and recommendations to executive management, Risk Committees, and board-level committees.
• Cooperative experience preferred.

Skills and Abilities:

• Strong understanding of commodity valuation, mark-to-market methodologies, credit risk, market risk, enterprise risk management, and energy trading practices.
• Knowledge of PJM market rules, credit requirements, and stakeholder processes preferred.
• Knowledge of risk assessment techniques, risk identification, evaluation, mitigation, monitoring, and reporting processes.
• Strong analytical and critical thinking skills with the ability to evaluate complex business issues, identify emerging risks, and recommend practical risk mitigation strategies.
• Strong understanding of internal controls, corporate governance, compliance, and business continuity concepts.
• Strong contract negotiation and conflict resolution skills.
• Demonstrated ability to influence, collaborate, and build strong working relationships throughout the organization and external contacts.
• Excellent organizational, planning, and time management skills, with the ability to prioritize work and adapt to changing business needs.
• Strong project management skills
• Excellent listening, written, verbal, presentation, and public speaking skills, with the ability to effectively communicate complex risk issues to diverse audiences.
• Excellent interpersonal skills with the ability to collaborate with staff throughout the organization, including external contacts.
• Proficiency with risk management systems, ETRM platforms, energy trading systems, and Microsoft Office applications.
• Ability to manage sensitive and confidential information with discretion.

Competencies

• Building Partnerships
• Negotiation
• Strategic Decision Making
• Information Monitoring

Working Conditions

• Usual office conditions apply.
• Work outside normal schedule may be necessary.
• Must maintain valid driver’s license.
• Must wear personal protective equipment as applicable.