Job Description:

PJM has adopted the SOC 1 which is a specified audit practice applicable to service organizations responsible for processing of transactions. The SOC 1 audit will monitor and evaluate the effectiveness of PJM's general controls and business processes for customer-billing activities continuously against these higher auditing standards.
The Sr. (Lead) SOC 1 Specialist will coordinate all organizational activities associated with the ongoing SOC 1 audit to ensure that PJM's systems and processes are performed in a manner that will inspire confidence to PJM's market participants regarding the effectiveness of our market settlements processes and controls. This function is critical as PJM's membership expands since the SOC 1 audit mitigates the need for separate audits by market participants by asserting that controls and processes are sufficient to ensure an accurate and timely market settlements bill.
The Sr. (Lead) SOC 1 Specialist will oversee and coordinate PJM's efforts to prepare for the ongoing SOC 1 audits. This includes developing processes to ensure meeting all of the company's responsibilities with regard to the audit (i.e. coordinating the development of control objectives and activities for ongoing or changing systems and business processes) and ensuring PJM personnel are properly trained regarding their responsibilities in relation to the audit. The Sr. (Lead) SOC 1 Specialist will also coordinate the ongoing documentation activities related to the SOC 1 audit across the organization.

The Sr. (Lead) SOC 1 Specialist will assist the company in accomplishing the following goals:
• Maintain the safety, adequacy, reliability, and security, of the power system.
• Creation and operation of a robust, competitive, and non-discriminatory electric power market.
• Ensure that no member or group of members has an undue influence over PJM activities.
• Maintain the confidence of government entities and participants through demonstrated excellence in PJM's organizational performance.
• Deliver exceptional services with integrity, efficiency, and technical innovation through demonstration.

Because of COVID-19 this position will be temporarily working from home until a return to campus plan is finalized.

Essential Functions:

• In this context, the duties and responsibilities of the Sr. (Lead) SOC 1 Specialist include the following:




• Ensures that all systems and/or business processes include appropriate control objectives and supporting activities that ensure achievement of business objectives, accuracy of processing, proper access control, data security, and data integrity to minimize risk and achieve positive results.




• Oversees and coordinates the creation of procedures for the management of PJM’s SOC 1 audit. This would include, but not be limited to, processing requests for information, coordinating responses or corrective actions related to potential audit exceptions, maintaining appropriate records, and reporting audit progress to higher management.




• Provides presentations to employees in a clear and concise manner communicating the requirement for sustained adherence to PJM controls and procedures to provide assurance that PJM is meeting its business objectives for security, accuracy, data integrity, and efficiency of business operations.




• Provide presentations to the Audit Committee of the Board of Managers on a regular basis.




• Ensures that all PJM employees are adequately trained to perform assigned tasks. This will require coordination with the following departments: Internal Auditing, Human Resources, Market Services (particularly Market Settlements), Information Services (particularly Security).




• Ensures that the “right people” are performing their essential functions and duties in the right way.




• Meets routinely with external auditors, and appropriate PJM staff to discuss and assist in the resolution of potential SSAE 16 issues and findings.




• Meets routinely with Information Technology Services Division personnel to ensure effective infrastructure is available to support the back up of Market-Sensitive data.




• Maintains an issues log for discussion with Executives and external auditors.




• Maintains an action item log to track and document timely resolution of issues/problems.




• Upon audit exceptions, recommends, discusses and negotiates language for SOC 1 exception reports.




• Maintains and tracks changes to PJM control activities;




• Works as an internal consulting group as counsel to the management of the organization related to SOC 1 standards and compliance.




• Consults with senior management to identify and prioritize improvement activities.




• Oversees development and implementation of process improvement processes and projects consistent with and in support of corporate strategy.




• Applies latest management techniques to comprehensively assess organization effectiveness, identify improvement opportunities and




• Coordinates communications with SOC 1 auditors, tracks and follows-up on problem resolution.




• Communicates to affected divisions/departments of the standard protocols.




• Works closely with Member Training to ensure internal training programs are consistent with organizational goals and overall effectiveness program.




• Coordinates activities with PEG to ensure that control objectives and activities are designed into all appropriate projects in the early stages of development. .




• Relies heavily on a strong matrixed relationship with Internal Auditing staff, who will help determine whether control activities are suitably designed to achieve the stated objectives; whether the activities are actually being performed as described and communicated; and whether the activities are effective throughout the period of testing.




• Participates in other analytical duties and project support, as assigned

Characteristics & Qualifications:

Required:

• BS degree in Business Administration, Finance, Economics or equivalent work experience




• At least 8 years of work experience




• Ability to produce high-quality work products with attention to detail




• Ability to visualize and solve complex problems




• Experience managing projects




• Ability to work independently and to train, guide or assist others to perform complex assignments




• Ability to use Microsoft Office Suite (MS-Word, MS-Excel and MS-PowerPoint)

Preferred:

• MBA, Business Administration




• Experience with PJM operations, markets, and planning functions




• Ability to effectively explain SOC 1, verbally and in writing, the associated policies/procedures for completing the essential PJM functions




• Experience with internal or external auditors