PJM Chief Risk Officer Nigeria Bloczynski announced her resignation from the RTO on Tuesday.
In her tenure at PJM, Bloczynski established several financial oversight groups in the organization, including Corporate Insurance, Credit Risk & Surveillance, Enterprise Risk Management, Trade Risk & Analytics and Trade Surveillance.
No reason was given as to the nature of the resignation. At last month’s Members Committee meeting, Bloczynski presented PJM’s next steps after FERC rejected its proposed collateral requirements for FTR traders. (See Stakeholders Encourage PJM to Defend FTR Filing.)
“It has been my honor and privilege to serve PJM’s employees and members,” Bloczynski said in an email. “I am proud to have been part of such an outstanding team doing extremely important work, and I know PJM will continue to forge ahead with innovation, integrity and outstanding service to its members.”
Bloczynski joined PJM in July 2019 after serving as director of commodity and corporate risk management for WGL Holdings, the parent company of Washington Gas, WGL Energy, WGL Midstream and Hampshire Gas. She has more than two decades of experience in commodity and risk management in both the financial and energy markets after graduating with a bachelor’s in mathematics from Morgan State University and an MBA from Johns Hopkins University.
The hiring of Bloczynski came several months after the release of independent consultant report on the GreenHat Energy default that characterized PJM management as “naive,” recommending the RTO bringing a CRO into the organization. (See Report: ‘Naive’ PJM Underestimated GreenHat Risks.)
PJM spokeswoman Susan Buehler said the Board of Managers has “been kept in the loop” regarding Bloczynski’s resignation and that the RTO is now beginning its search for a replacement. CFO Lisa Drauschak has assumed the CRO’s responsibilities for now.
CEO Manu Asthana thanked Bloczynski for her work with the RTO.
“We are grateful for Nigeria’s contributions to the organization over the past two and a half years,” Asthana said.
Bloczynski did not responded to a request for comment as of press time.