The (Sr.) Manager, Credit is responsible for developing and managing the Credit Department at PJM, must possess first-hand experience creating policies and procedures. A strong relationship manager, the (Sr.) Manager, Credit must interact with more than 900 member companies on an ongoing basis to provide confidence in PJM's credit process. The (Sr.) Manager, Credit must possess strong leadership competencies and be experienced as an effective facilitator having the appropriate poise and presence to facilitate large meetings or one-on-one interpersonal interactions. The (Sr.) Manager, Credit must be able to understand the relationships between credit and PJM's markets, in order to recommend effective policies that will balance market needs with credit protection. The (Sr.) Manager, Credit must be detailed oriented, highly organized and proficient in documentation. The (Sr.) Manager, Credit should have the ability to professionally exercise discretion to make timely recommendations and effectively solve problems, using independent judgment consistent with standards, practices, policies, procedures, regulations, and/or law.
The (Sr.) Manager, Credit is responsible for ensuring that current Tariff provisions related to credit are implemented fully, and for recommending Tariff changes to address future issues.

Applicants for this position must be fully vaccinated against COVID-19 as a condition of employment.
This position may be eligible for flexible work arrangements. Please consult with your manager to confirm options for flexibility. Business needs and/or on-call responsibilities may require you to report to campus.

Essential Functions:

Manage the staff of the credit group at PJM, including supporting the day-to-day activities and longer-term projects, to ensure that both PJM and its members remain in compliance with the Tariff at all times.
Recommend addition of staff as needed. Evaluate applicants and recommend individuals based on ability to satisfy current and future potential needs of PJM.
Evaluate and rate performance of the credit group staff for PJM’s appraisal process.
Manage the development of credit staff in order to provide personal staff development, to ensure backup capabilities as needed, and to facilitate both succession within the staff and eventual succession to the Credit Manager position.
Recognize staff competencies and preferences, and utilize staff most effectively in order to accomplish the department goals.
Maintain a positive work atmosphere throughout the credit group.
Create and maintain a working credit system that will calculate member credit, track member activity and highlight when collateral calls are required of members.
Recommend modifications to credit policy and procedures as needed to address new markets, changes in existing markets, and changes in member activity, in order to minimize the risk to PJM’s membership
Effectively manage the stakeholder process to guide changes through to approval. This process includes both running the credit meetings as well as participating in other committee meetings.
Prepare supporting materials for FERC filings and contribute to FERC filings as needed, including writing and editing of transmittal letters and supporting documents.
Write revisions to the Tariff to represent proposed policy changes.
Calculate member assessments in event of member default.
Represent PJM’s credit function to outside entities by speaking at, or otherwise participating in, conferences and meetings, both commercial and regulatory
Guide the process of working with PJM’s IT group to implement system changes as needed.
Conduct ad hoc analyses pertaining to credit.
Determine adequacy of credit policies and procedures
Evaluate and continue to monitor member companies and providers of credit support (guarantors and letter of credit providers) to determine creditworthiness.
Forecast and monitor the potential impact of changes to credit policy.
Manage various third-party (members, developers and vendors) relationships.
Keep abreast of technological advancements relative to credit management, and make recommendations via cost/benefit analysis when appropriate.
Demonstrate a strong background in credit and provide guidance in the “best practices” related to credit policies and procedures.
On an ad hoc basis, facilitate and present credit status to Board of Managers and Membership.
Liaise among internal departments, including Legal, Membership and Compliance to maintain transparency when communicating with market participants.

Characteristics & Qualifications:

Required

BS degree in Business Administration, Finance or equivalent work experience
At least 5 years of work experience
-2+ years of leadership experience in a managerial/supervisory role.
Strong knowledge of Microsoft Office Programs (i.e. Excel, Word and PowerPoint) and comfort with learning and implementing new systems
Proven analytical skills with forward thinking end-to-end process mindset

Preferred:

MBA, Business Administration
5-10 years of leadership experience in a managerial/supervisory role.
Ability and desire to build relationships and interact with a wide range of stakeholders and staff to maintain and enhance PJM’s customer service reputation
Experience with PJM operations, markets, and planning functions
Experience with SAP

(Sr.) Manager, Credit

Manage the staff of the credit group at PJM, including supporting the day-to-day activities and longer-term projects, to ensure that both PJM and its members remain in compliance with the Tariff at all times.

Recommend addition of staff as needed. Evaluate applicants and recommend individuals based on ability to satisfy current and future potential needs of PJM.

Evaluate and rate performance of the credit group staff for PJM’s appraisal process.

Manage the development of credit staff in order to provide personal staff development, to ensure backup capabilities as needed, and to facilitate both succession within the staff and eventual succession to the Credit Manager position.

Recognize staff competencies and preferences, and utilize staff most effectively in order to accomplish the department goals.

Maintain a positive work atmosphere throughout the credit group.

Create and maintain a working credit system that will calculate member credit, track member activity and highlight when collateral calls are required of members.

Recommend modifications to credit policy and procedures as needed to address new markets, changes in existing markets, and changes in member activity, in order to minimize the risk to PJM’s membership

Effectively manage the stakeholder process to guide changes through to approval. This process includes both running the credit meetings as well as participating in other committee meetings.

Prepare supporting materials for FERC filings and contribute to FERC filings as needed, including writing and editing of transmittal letters and supporting documents.

Write revisions to the Tariff to represent proposed policy changes.

Calculate member assessments in event of member default.

Represent PJM’s credit function to outside entities by speaking at, or otherwise participating in, conferences and meetings, both commercial and regulatory

Guide the process of working with PJM’s IT group to implement system changes as needed.

Conduct ad hoc analyses pertaining to credit.

Determine adequacy of credit policies and procedures

Evaluate and continue to monitor member companies and providers of credit support (guarantors and letter of credit providers) to determine creditworthiness.

Forecast and monitor the potential impact of changes to credit policy.

Manage various third-party (members, developers and vendors) relationships.

Keep abreast of technological advancements relative to credit management, and make recommendations via cost/benefit analysis when appropriate.

Demonstrate a strong background in credit and provide guidance in the “best practices” related to credit policies and procedures.

On an ad hoc basis, facilitate and present credit status to Board of Managers and Membership.

Liaise among internal departments, including Legal, Membership and Compliance to maintain transparency when communicating with market participants.

Characteristics & Qualifications:

Required

BS degree in Business Administration, Finance or equivalent work experience

At least 5 years of work experience

-2+ years of leadership experience in a managerial/supervisory role.

Strong knowledge of Microsoft Office Programs (i.e. Excel, Word and PowerPoint) and comfort with learning and implementing new systems

Proven analytical skills with forward thinking end-to-end process mindset

Preferred:

MBA, Business Administration

5-10 years of leadership experience in a managerial/supervisory role.

Ability and desire to build relationships and interact with a wide range of stakeholders and staff to maintain and enhance PJM’s customer service reputation

Experience with PJM operations, markets, and planning functions

Experience with SAP