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)
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What We Do
PJM Interconnection manages the high-voltage electric system that provides power to 65 million people in all or parts of 13 states and the District of Columbia. It's the largest power grid in North America. As a neutral, independent party, PJM administers a competitive wholesale electricity market. PJM’s long-term regional planning process provides a broad, interstate perspective that identifies the most effective and cost-efficient improvements to the grid to ensure reliability and economic benefits. PJM serves all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia. An independent board oversees PJM’s activities. Effective governance and a collaborative stakeholder process help PJM achieve its vision: “To be the electric industry leader – today and tomorrow – in reliable operations and efficient wholesale markets.”
