Risk Specialist I

Location:

White Plains, US

Summary

Performs a second line of defense oversight function. Maintains and implements the enterprise-wide risk management framework. Supports business to identify and characterize risks (enterprise, operational, emerging, market, commodity, credit) and provides second level assurance that the business effectively manages risk within the Risk Appetite Statement. Works to optimize the organization's insurance coverage and manages the workers compensation program. Performs risk analysis and modelling to assess probability of specific market, commodity, and credit risks occurring and evaluate / value the impact / consequences of occurrence. Manages and engages business to advance enterprise-wide resilience programs and frameworks.

Establishes risk frameworks, policies and procedures implemented across NYPA and Canals necessary to perform effective risk management. Ensures administration of the Executive Risk and Resiliency Management Committee and provides Board of Trustee presentation materials for the Finance and Risk Committee Meetings. Updates and maintains the Authority’s risk profile by capturing and reporting of operational and enterprise level risks. Manages and implements the risk management framework and underlying processes across the Authority’s risk portfolio focusing on enterprise and operational risks. Engages with the business units to provide an effective challenge and to ensure the first line of defense manages risks in accordance with the established risk framework and within the Authority’s Risk Appetite. Performs risk analysis, monitoring, and reporting using risk process and systems capturing information in risk registers.

Responsibilities

• Perform statistical, quantitative and qualitative analysis on individual risks and the risk inventory to identify underlying relationships and assist in the risk roll-up/alignment process.

• Work with the Enterprise and/or Operational Risk team , NYPA management, and staff to facilitate the Enterprise and/or Operational Risk process for risk identification, definition, assessment, analysis, mitigation, and monitoring throughout NYPA.

• Generate risk reports for various levels of the organization including the Executive Risk Management and Resilience Committee (ERRMC) and Executive Management Committee (EMC).

• Work with Enterprise and Operational Risk leadership to ensure effective alignment of the enterprise and operational processes with Internal Audit, Compliance, and the Office of Strategy Management.

• Assist EORM Team in the development of training materials and assist in conducting enterprise and/or operational education/training to various levels of NYPA Business Units management and staff.

• Update and maintain NYPA’s enterprise and operational risk frameworks, policies, procedures, and other associated risk management documentation.

• Provide support on the implementation and on-going operation of the Governance, Risk, and Compliance (GRC) software module specific to the enterprise and/or operational programs.

• Coordinate the resolution of risk software problems with the vendor or the NYPA IT department as needed.

• Perform regular updates to the risk repository, assessment, and reporting tool and ensure integrity of the repository database. Create and maintain up-to-date meeting minutes, reports and related materials for the Enterprise and Operational Risk website

• Work with senior EORM Team members to establish and implement the Enterprise and/or Operational Risk task level schedule to ensure timely delivery of assigned work products.

Knowledge, Skills and Abilities

• Working knowledge of various types of risk including, Market Risk, Operational Risk, Credit Risk, Liquidity Risk, Financial Instrument Risk.

• General knowledge of Enterprise-wide Risk management program development and implementation including best practices, frameworks, and associated software systems.

• General knowledge of Strategic Planning, Compliance, and Internal Audit practices.

• Firm understanding of the fundamentals of probabilistic scenario analysis and the associated application to risk management.

• Strong understanding of financial instruments and analysis techniques (value at risk, cash flow at risk, earnings at risk)

• Working knowledge of Access, Word, PowerPoint, statistical software, and MS Project.

• Understanding of enterprise risk management best practices as they apply to the energy/utility industry.

• Understanding of NYPA’s generating and transmission facilities

• Understanding of NYPA’s financial planning tools.

• Ability to prepare and deliver clear and concise summaries and insights with assistance from senior specialists and director.

• Ability to work and interact with all levels of management and across all NYPA business units and departments.

Education, Experience and Certifications

• Bachelor’s degree in Business Administration, Finance, Accounting, or Economics.

• A minimum of 3 years directly relevant experience with risk analysis, integration of business processes and development/implementation of enterprise risk programs is required.

Physical Requirements

• Flexibility to work overtime, as needed, will be required.

• Valid US driver’s license

• Ability to travel within NYS (up to 25%)

The New York Power Authority is committed to providing fair, competitive, and market-informed compensation. The estimated salary range for this position is: $74,340.00 - $102,220.00. The salary offered will be determined based on the successful candidates’ relevant experience, knowledge, skills, and abilities.

The New York Power Authority and Canal Corporation believes that diversity, equity, and inclusion drive our success, and we encourage women, people of color, LGBTQIA+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents and veterans to apply. As an equal opportunity employer, NYPA/Canals is committed to building inclusive, innovative work environments with employees who reflect communities across New York and enthusiastically serve them. We proudly celebrate diversity and do not discriminate based on race/color, creed/religion, national origin, citizenship or immigration status, age, disability, military status, gender/sex, sexual orientation, gender identity/expression, pregnancy and related conditions, familial/marital status, domestic violence victim status, predisposing genetic characteristics, arrest/criminal conviction record or any other category protected by law.

NYPA/Canals will also provide reasonable accommodations during the hiring process related to candidates’ disabilities, pregnancy-related conditions, religious observances/practices and/or domestic violence concerns. To request an accommodation, please email  accessibility@nypa.gov .

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