Flexible Work Arrangement: Hybrid
The (Sr./Lead) Quantitative Analyst I (II) is responsible for overseeing PJM's quantitative analytical efforts to support trade surveillance. Working under the direction of the Manager, Trade Surveillance, the responsibilities include leading the analytical team to develop behavioral modeling to capture the impact of PJM's strategic decisions that market participants could make to influence prices and increase their profits, developing potential cross product manipulations scenarios and identifying gaps in the current PJM markets where bad actors can take an unfair advantage of market rules. The results of these tasks are then used to take the appropriate steps to make changes in PJM's governing documents to close those perceived loopholes and ensure efficient markets.
Essential Functions:
Lead quantitative analytical team for the identification of trade manipulation activity:
Provide quantitative analytical support to identify trade manipulation associated with existing market rules
Provide quantitative analytical support to identify trade manipulation possibilities associated with new market rules
Create scenarios around trading activity and develop indicators of potential trade manipulation activity
Potential Future Exposure (PFE) and Potential Future Collateral (PFC):
Forecast forward price projections using advanced analytical techniques such as power flow simulations and historical price analysis to assess future exposure and collateral needs
Develop models to capture future shocks in fundamental energy market price drivers
Interface with stakeholders, management, peers and others and provide expertise in the area of trading risk
Analyze PJM’s governing documents and design new PJM market rules and make changes to existing rules
Develop dashboard reporting and extract, transform, load (ETL) procedures
Interact regularly with leadership and cross functional teams to understand strategic changes
Demonstrated ability to work independently and to train, guide, or assist others to perform complex assignments
Demonstrate the behaviors and competencies that create a risk management mindset in the organization
Technical Skills: Production cost simulation software skills, statistical software skills
Characteristics & Qualifications:
Required:
Bachelor's Degree in Engineering, Mathematics, or Economics
At least 5 years of 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:
Master's Degree in Engineering, or a PhD. in Economics, Mathematics, or Engineering
At least 5 years of experience within the Energy industry
Experience using statistical tools such as SAS, MATLAB
Experience 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)
Top Skills
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.”
