A memory system having a non-volatile memory and a power management integrated circuit (PMIC) that has a voltage regulator to apply a voltage on the non-volatile memory during normal operations. During a shutdown process, the PMIC has a bleeder that is activated to reduce the voltage applied on the non-volatile memory to a level that is below a programmable threshold, before allowing the memory system to restart again. During the bleeding operation, a comparator of the PMIC compares the voltage applied to the non-volatile memory and the threshold to determine whether the shutdown process can be terminated for a restart.