Electric services company FirstEnergy Corp. announced the appointment of Soubhagya Parija as vice president and chief risk officer.
The announcement came the same day the company agreed to pay a $230 million criminal penalty as part of a settlement with the U.S. Attorney’s Office for the Southern District of Ohio surrounding the state’s nuclear bailout federal corruption scandal. FirstEnergy also entered a three-year DPA as part of the resolution.
Parija will assume his role Aug. 16. At FirstEnergy, he will “develop and execute a risk program that reflects FirstEnergy’s core values and behaviors; establish standards and implement robust processes and procedures to identify, mitigate, and prevent risks across the company; and support efforts by the Board of Directors and senior leadership to implement, review and approve the company’s enterprise-wide risk governance and compliance framework,” the company stated in a press release.
Parija joins FirstEnergy from the New York Power Authority, where he served as senior vice president and chief risk officer. His previous experience includes time at Walmart as a director of risk strategy and at Signet Jewelers as director of enterprise risk.
“Soubhagya is a respected leader in the risk management field with demonstrated experience building and leading best-in-class enterprise-risk programs at utilities and other key industries,” stated FirstEnergy President and CEO Steven Strah. “His track record of managing risk across large organizations, while embracing an unwavering commitment to integrity and ethical behavior, makes him an excellent addition to our leadership team.”
Parija will report to Senior Vice President and Chief Financial Officer Jon Taylor. He joins Hyun Park (chief legal officer), Antonio Fernández (chief ethics and compliance officer), and Michael Montaque (vice president, internal audit) as recent appointees of the company.