Description

This position will be filled at either the Journey, Senior or Principal level. To be considered at the Journey or Principal level, please apply to requisitions #2839 or #2836. 

We are seeking a Market Risk Analyst to lead initiatives aimed at enhancing technology and analytical capabilities related to market risk management. The ideal candidate will possess strong quantitative and data modeling skills, deep experience in energy markets, and a passion for leveraging innovative technologies to improve risk assessment and mitigation processes. This role involves driving the development and implementation of advanced tools and platforms that support strategic decision-making, enhance data-driven insights, and strengthen the organization’s ability to respond to market volatility and evolving regulatory environments.

Purpose
Plays a critical role in monitoring, analyzing and managing market risks associated with the utility’s energy procurement, trading and hedging activities. This position supports the company’s risk oversight function by delivering quantitative assessments, developing risk models, and collaborating with key internal stakeholders to ensure risk-aware business decisions. This role requires a strong understanding of energy markets, quantitative risk tools, and regulatory frameworks applicable to the utility sector.

Nature and Scope
There are five (5) levels in this job classification series that have similar job content but with progressively more challenging degrees and levels of skill, responsibility, knowledge, experience, and qualification requirements:

Flex classifications (that permit progression from lower-level classes to higher level classes without examination based upon assessment of an individual’s experience and performance) within the series:

• Entry: Incumbent acquires knowledge, skills and abilities to perform the tasks associated within the series but are not yet demonstrating these at the Journey level.
• Journey: Incumbent is demonstrating the required skills and knowledge to independently perform the full scope of the job.

Non-Flex classifications (that promote from lower-level classes to higher level classes and require an examination, such as an interview, based upon individual experience and performance) within the series:

• Senior: Advanced journey level resource who is responsible for advanced assignments, as dictated by the work needing to be performed; may serve in a lead and/or supervisory capacity.
• Principal: Subject matter expert/lead/supervisory level and is responsible for leading the most advanced work, as dictated by the work needing to be performed.
• Supervisor: Working supervisor directing the work of a functional team.
  Entry to Journey: Incumbents at the entry level are required to successfully “progress” to the journey level within 60 months of appointment to remain within the job series.

Seniors, Principals, and/or Supervisors must be hired through a promotional process and do not automatically progress from lower levels in the series.

Duties and Responsibilities

• Monitor and assess market risk exposures related to electricity, natural gas, renewable energy credits, and other commodity positions.
• Support the implementation and improvement of risk metrics, including Value-at-Risk (VaR), stress testing, and sensitivity assessment.
• Track market trends, price movements, and economic drivers that affect portfolio exposure and report findings to senior management.
• Assist in the development and maintenance of risk models and tools for portfolio valuation and scenario analysis.
• Ensure compliance with internal risk policies and external regulatory requirements (e.g., FERC, NERC, ISO/RTO rules).
• Collaborate with Front Office (trading, origination), Treasury, Finance, and Regulatory teams to understand and evaluate the risk impact of commercial decisions.
• Contribute to the design and enforcement of trading and hedging limits; escalate limit breaches as necessary.
• Prepare regular and ad hoc risk reports and presentations for Risk Committees and senior management.
• Participate in the ongoing enhancement of the risk management framework, including system upgrades, policy reviews, and process improvements.
• Participate in the creation and forecasting of the commodity budget to support strategic planning and rate setting.
• Monitor and report weekly and monthly on budget performance, assessing market conditions and risks.
• Participate in the recommendation of mitigation strategies for variances between actual and expected expenditures.
• Perform other related duties as needed; schedules, hours and locations may fluctuate based on business needs.

Requirements

Required Education
Bachelor’s degree in finance, economics, engineering, mathematics, statistics, or a related field from an accredited college or university, or equivalent experience. If no degree, nine (9+) or more years of experience are required.

Required Experience Qualifications
At least five (5+) years of experience in energy trading, risk management, or quantitative analysis within a utility or commodity environment.

Desirable Qualifications
Knowledge of:

• Energy markets: Knowledge of energy modeling and simulation of electric and gas portfolios.
• Regulatory Reporting: Familiarity with regulatory reporting and compliance processes in the utility space.

Education:

• Master’s degree in a quantitative discipline: Master’s degree in economics, engineering, mathematics, statistics, or similar quantitative discipline.
• Relevant certifications: Hold relevant certifications in energy risk management or related fields.

Experience:

• Energy industry background: Experience with renewable energy assets, capacity markets, or carbon markets.

Physical Requirements
Applicants must be able to perform the essential job functions with or without a reasonable accommodation.