Senior Utility Credit Analyst

Requisition:  81926

PSEG Company:  Public Service Electric & Gas Co.

Salary Range: $ 88,400 - $ 140,000

Work Location Category: Hybrid Flexible

 

PSEG operates under a Flexible Work Model where flexible work is offered when job requirements allow. In support of this model, roles have been categorized into one of four work location categories:

Onsite are roles that have specific onsite requirements and are typically onsite daily.

Hybrid fixed are roles that are a blend of onsite work/in-person interactions with some ability to work remotely and require employees to live within a commutable distance and be onsite fixed days each week.

Hybrid flexible are roles that can be performed remotely but require some level of onsite work/in-person interactions on a regular basis, require employees to live within a commutable distance and, since business needs vary by position and may change over time, managers will set expectations and flexibility regarding where and when work is performed.

Fully remote are roles that can be performed remotely, require employees to live in approved states and will have purpose-driven in-person interactions on occasion.

We want you to be healthy, balanced, and feel secure. That’s why you’ll enjoy a comprehensive range of benefits, with a focus on supporting your whole health. Starting on day one of your employment, you’ll be offered several health-related benefits including medical, vision, dental, well-being and behavioral health programs. We also offer a retirement program, 401(k) with company match, company paid life insurance, tuition reimbursement and a minimum of 18 days of paid time off per year (including vacation, scheduled holidays, and floating holidays).

PSEG offers a unique experience to our more than 12,000 employees – we provide the resources and opportunities for career development that come with being a Fortune 500 company, as well as the attention, camaraderie, and care for one another you might typically associate with a small business. Our focus on combatting climate change through clean energy technology, our new net zero climate vision for 2030 and enhanced commitment to diversity, equity, and inclusion; and supporting the communities we serve make this a particularly exciting time to join PSEG.

Job Summary

Work closely with the Manager of Energy Supply Administration and Enterprise Credit Risk Management to identify, enforce and monitor counterparty credit issues. Implement corporate credit policy and procedures and perform credit reviews for electric and gas Third Party Suppliers, Basic Generation Suppliers, large gas customers/generators and other counterparties. Analyze financial statements, credit rating agencies data and apply corporate credit models to manage and monitor credit risk daily. Responsible for continuous monitoring of counterparties’ financial condition to determine collateral requirements and recommend other measures to protect the financial integrity of the Company. Generate periodic and ad-hoc reports on the credit exposure of the Company used by Enterprise Credit Risk Management to develop the credit exposure for the Enterprise. Recommend new credit procedures in line with PJM credit policies and New Jersey Board of Public Utilities approved credit guidelines. Maintain and apply working knowledge of controls and meet management's expectations for effective internal business controls.  Support supplier onboarding processes and effectively communicate contractual and credit requirements.

Job Responsibilities

• Perform credit reviews for TPS, BGS electric and gas suppliers.
• Calculate and monitor the daily credit exposure from all the counterparties and determine the collateral requirements to enforce credit policies and procedures including executing margin calls.
• Make decisions and proactively resolve external counterparty issues.
• Generate monthly and ad hoc reports to management on current credit exposures and collateral held.
• Execute supplier onboarding process including contract execution, initial security deposits, and guide set up in PSE&G systems.
• Guide regulators, PJM, federal agencies in the credit requirements for electric and gas competitive markets.
   

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