Margining Operations Analyst

ISO New England operates the power grid 24/7 and designs, runs, and oversees the region's wholesale electricity markets to ensure reliable, competitively priced electricity for New England. The Market and Credit Risk Department provides a solid foundation for the company's risk management of credit and market risks as the central clearing counterpart in the Northeast electricity markets. The Department plays a key role in the organization's mission, as it is responsible for developing market and credit risk management solutions as well as operating collateral management processes to support the ISO's $10 billion suite of auction-based electricity markets. In these markets, participants buy and sell a variety of products and services through the ISO as the central clearing counterpart including - for example - very short-run (every five-minute) transactions for energy delivery, and multi-year forward contracts that facilitate the entry and exit of new technologies and generation facilities. ISO New England, therefore, seeks a talented Margining Operations Analyst to join the Market and Credit Risk Department. The successful candidate will help mitigate credit risk posed by market participants (buyers / sellers) to the ISO, as the central clearing counterpart, through the execution and completion of several major risk management responsibilities.

How you will make an Impact

Margining Operations
* Administer the procedures pertaining to the intra-day margining processes related to physical and financial positions arising from the Real-Time Energy Market, Day-Ahead Energy Market, Financial Transmission Rights (FTR) and Forward Capacity Market (FCM)
* Evaluate the daily collateral requirements regarding market auction bids / offers related to Virtual Transactions, FTRs, and FCM positions
* Administer the collateral management process related to Letters of Credit, cash deposits with the Mutual Funds and Surety Bonds
* Timely execution of market participant suspension (and cure) procedures to mitigate default risk and potential socialized losses to the overall market
* Administration of market participant financial reporting and risk management documentation posting requirements to the ISO including quarterly and yearly financial statements, Information Disclosure & Risk Policy Attachments and OFAC checks
* Ensure risk management system is updated with market participants latest external and internal credit ratings
* Quarterly update of all assigned margining operations business processes and procedures
* Support building and maintenance of tools and system solutions related to market participant collateral posting requirements

External Market Participant Support
* Act as initial point-of-contact within the ISO regarding daily collateral requirements questions
* Work independently to resolve customer questions/issues by reviewing the pertinent sections of the risk policy
* Coordinate responses to queries submitted to the ISO regarding the risk policy

Documentation Administration
* Responsible for electronic record management and original documentation filing & Business Process and Procedure Updates
* Scanning and uploading documents for electronic file storage regarding regulatory compliance requirements

What we are looking for

* Understanding of energy markets and the role of the ISO as a central clearing counterpart
* Knowledge of collateral management instruments such as letters of credit and other security arrangements (surety bonds / mutual funds)
* Self-reliant, strong problem solver and results orientated
* Strong process management skills
* Works well independently and with a team
* Strong communication skills
* Multi-task effectively on complex margining operations processes
* Consistently meet intra-day collateral management deadlines in a fast-paced environment

#LI-HYBRID

Equal Opportunity: We are proud to be an EEO/AA employer. Applicants for employment are considered without regard to race, color, religion, creed, sex (including pregnancy, childbirth, and related medical conditions), gender identity or expression, sexual orientation, citizenship, national origin, age, ancestry, marital status, disability (including learning, mental, intellectual, and physical), service in the uniformed services, genetic information, or any other status protected by applicable law.

Drug Free Environment: We maintain a drug-free workplace and perform pre-employment substance abuse testing.

• ISO New England Inc., One Sullivan Road, Holyoke, Massachusetts, United States of America