Bachelor's degree in Engineering or Electrical Engineering; Master's degree in Engineering, Math, or Economics, or at least 10 years of relevant work experience
At least 5 years of experience in qualitative and quantitative analysis
Experience in the energy industry with familiarity with PJM markets
Proficiency with statistical and production-cost tools (e.g., SAS, MATLAB, PROMOD, PLEXOS, PROBE)
Requirements:
Provide quantitative analytical support to identify and quantify Market Participant trade-related risk exposure and risks related to the electric grid, transmission, generation, and power flow; forecast exposures impacting collateral using Monte Carlo simulations and scenario analysis
Configure and run forecasting models (e.g., PSSE, Dayzer) to capture potential future shocks from fundamental energy price drivers and conduct in-depth analysis of Day-Ahead/Real-Time and FTR markets
Develop and maintain dashboards; lead data mining and processing initiatives; explore automation to improve efficiency and accuracy; communicate findings to technical and non-technical audiences; mentor junior analysts
Collaborate with risk management leadership and cross-functional teams to assess strategic change impacts and provide expert guidance on risk-related initiatives
Job description
Flexible Work Arrangement: Hybrid
The Sr. (Lead) Engineer is responsible for overseeing PJM's quantitative analytical efforts to support trade and credit risk functions.
Essential Functions:
Quantitative analytical support for the identification and quantification of risk Exposure:
Provide quantitative analytical support to identify Market Participant trade related risk exposure in relation to PJM manuals and governing Documents.
Provide quantitative analytical support to identify potential increased risk associated with electric grid, transmission, generation and power flow.
Forecast Market Participants exposures that impact collateral requirement:
Forecast forwards price utilizing advanced analytical techniques such as Monte Carlo Price Simulations and historical event based scenario analysis to assess potential future exposure and collateral needs.
Configure and Run commercially available forecasting models, such as PSSE and Dayzer, to capture potential future shocks from fundamental energy market price drivers.
Conduct in-depth fundamental analysis of the power system, Day-Ahead/Real-Time markets, and Financial Transmission Rights (FTR) markets to generate actionable intelligence, identify emerging vulnerabilities, and support strategic initiatives.
Oversee the development and maintenance of comprehensive dashboard reporting, drive data mining and processing initiatives. Explore and implement opportunities for automation to enhance efficiency and accuracy.
Collaborate effectively with risk management leadership and cross-functional teams to provide expert guidance on strategic change impacts. Communicate complex analytical findings clearly and concisely to both technical and non-technical audiences, including executive leadership.
Provide technical leadership and mentorship to junior analysts, fostering their development and ensuring the continued advancement of analytical capabilities within the team.
Technical Skills: Production Cost Simulation Software, Statistical Software, Programming Languages (Python
Characteristics and Qualifications:
Required:
Bachelor's degree in Engineering or Electrical Engineering, Master's degree in Engineering, Math, Economics or qt least 10 years of work experience
At least 5 years of experience experience in qualitative and quantitative analysis
Ability to produce high-quality work products with attention to detail
Experience in quantitative and qualitative analysis
Ability to use mathematical and electrical theory
Ability to troubleshoot and provide technical support
Preferred:
PhD., Economics, Mathematics, Engineering
At least 5 years of experience with Energy industry; knowledge in PJM markets would be ideal using statistical tools such as SAS, MATLAB and using production cost tools such as PROMOD, PLEXOS, PROBE Adept in strategic/forward thinking
Experience with PJM operations, markets, and planning functions
Experience using PSS/e (power system analysis program)
