Job Posting End Date
09-06-2024
Please note the job posting will close on the day before the posting end date
Job Summary
We are looking for a talented and motivated individual with leadership experience to help create the future of energy and customer solutions while protecting AEP through the administration of the company's enterprise Commercial Risk policy, including but not limited to, supporting all AEP business units with complex transactions. This individual will be responsible for leading the team that helps determine the financial ability of AEP's counterparties to deliver contracted products and services, and/or meet payment obligations to prevent financial losses. Further responsibilities include the management and training for all non-manger level direct reports within the Credit Risk Management Department and all aspects of their functional activities.
Job Description
Principal Accountabilities:
Our ideal team member will:
Oversee initial and ongoing quantitative and qualitative analysis of customers, suppliers, and counterparties to establish monetary and tenor limits, and assignment of internal ratings.
Work with direct reports to negotiate, structure and administer contractual documents that establish business relationships with vendors, customers and/or partners.
Lead and influence external and internal credit working groups to establish, assess and influence the implementation of appropriate credit policies, mitigation techniques and solutions.
Provide general legal support for the Credit Risk Management Department, the research of any matters affecting credit, the drafting of correspondence, and assistance in discovery.
Coordinate the fulfillment of AEP's contract requirements though partnering with related departments; performing quality checks, handling escalated and complex issues all while balancing the overall workload.
Critically analyze and comprehend a variety of contract terms and conditions as well as possess a strong working knowledge of the energy industry and pertinent credit-risk language.
Possess familiarity with various contracts (i.e. ISDAs, RECs, REPAs, EPC) and associated collateral documents (i.e. Letters of Credit, Surety Bonds, and Guarantees)
Be responsible for formulation and implementation of department policies, procedures and guidelines, and implementation and maintenance of the corporate contract databases and trading system(s).
Provide training for non-manager employees within the Credit Risk Management Department as well as cross-functional (Market Risk, Legal, Insurance, etc.) and non-Credit groups (i.e. AEP Retail, Procurement, etc.)
Minimum Qualifications:
Education: Bachelor's Degree, preferably in Risk Management, Accounting, Finance or other Business-Related Field.
Experience: Minimum of 8-10 years' experience and knowledge of energy or utility business.
Leadership Experience: Must have previous supervisory responsibility with a minimum of 2 years.
Other Skills Required:
Thrives in a fast paced and demanding environment with quickly changing priorities
Leadership experience and ability to work with and reconcile viewpoints among varied groups
Excellent computers skills (Microsoft Office Suite including MS Word, PowerPoint, and Excel)
Meticulous attention to detail, strong organizational skills, and excellent written and oral communication skills
Possess strong analytical skills to understand credit-risk fundamentals and translate analysis into commercial strategies and advice to customers
Strong negotiation skills to effectively negotiate collateral support or credit mitigation documents, and AEP's position on credit language in contracts and related agreements
Compensation Data
Compensation Grade:
SP20-010
Compensation Range:
$129,963.00-168,952.00 USD
Hear about it first! Get job alerts by email. Log in to your Candidate Home Account today! If you don't have an account, you can create one.
It is hereby reaffirmed that it is the policy of American Electric Power (AEP) to provide Equal Employment Opportunity in all aspects of the employer-employee relationship including recruiting, hiring, upgrading and promotion, conditions and privileges of employment, company sponsored training programs, educational assistance, social and recreational programs, compensation, benefits, transfers, discipline, layoffs and termination of employment to all employees and applicants without discrimination because of race, color, religion, sex, age, national origin, ethnicity, ancestry, veteran or military status, disability, genetic information, sexual orientation, gender identity, or any other basis prohibited by applicable law. When required by law, we must record certain information to be made part of an Affirmative Action Plan. Applicants for employment may also be invited to participate in the Affirmative Action Program by self-identifying their Race or Ethnic Identity.
