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New York Power Authority names former Wal-Mart executive as chief risk officer


Mon, Jul 13th 2015 12:20 pm

The New York Power Authority has named Soubhagya Parija as senior vice president and chief risk officer, to administer all aspects of risk management and insurance at the nation's largest state public power organization.

Parija joined NYPA from Wal-Mart, where he was a director and oversaw the global compliance risk strategy for the retail giant's operations in 26 countries. He also has worked in management at two major utilities in the U.S. and India.

"Bringing Soubhagya on board is part of our continuing effort to bolster our internal controls and manage our strategic and business risks," said Gil C. Quiniones, NYPA president and CEO. "We must ensure that while we carry out our mission to provide low-cost, reliable power to help fuel New York state's economy, we do so in a way that is transparent, follows established procedures and is subject to rigorous oversight."

Parija, who will report to Quiniones, also will work closely with Jennifer Faulkner, who joined NYPA earlier this year as senior vice president of internal audit. Faulkner oversees evaluations of the effectiveness of financial, information technology and operating controls at NYPA.

"I will collaborate with all members of the executive management team as we embark on a path of strategically focused risk management," Parija said. "NYPA already has a strong management infrastructure in place, and I'm excited that we're pursuing a new approach, especially as the energy landscape shifts away from traditional power generation."

Before Wal-Mart, Parija worked at Signet Jewelers Inc., where he developed the company's enterprise risk management program, which included regulatory compliance. He also spent six years at Duke Energy, the nation's largest electric power holding company, where he served in a variety of roles, including director of enterprise risk management and portfolio analysis. Parija also worked at NTPC, India's largest utility.

Parija has a master's in economics from Jawaharlal Nehru University in New Delhi, and a master's in business administration from the Kelley School of Business at Indiana University.

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