*Flexible Work Arrangement: Hybrid or Remote*
PJM Interconnection seeks a highly analytical and detail-oriented Quantitative Analyst to join the Model Validation team. This role supports the integrity of PJM's market-clearing and reliability models by conducting independent validations, performance testing, and analytical reviews of models used in the Electricity Energy markets.
Essential Functions:
Validate stochastic and deterministic models related to energy market forecasting, price formation, reliability assessment, capacity planning and risk management.
Develop and implement statistical testing and back-testing frameworks to assess model accuracy, stability, and robustness.
Collaborate with modeling teams to ensure models adhere to internal governance frameworks, regulatory standards (e.g., FERC, NERC), and best practices.
Analyze large datasets using Python or R to support validation work, identify anomalies, and recommend improvements.
Document validation procedures, assumptions, test results, and model limitations in compliance with PJM’s Model Risk Management standards.
Assist in stress testing, scenario analysis, and performance monitoring for models.
Communicate findings to senior management, model developers, and stakeholders.
Stay abreast of changes in market design, statistical methods, machine learning techniques, and regulatory guidance affecting model use.
Characteristics & Qualifications:
Required:
Master's Degree in Statistics, Engineering, Economics, Mathematics or equivalent work experience
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. in Statistics, Engineering, Economics, Mathematics or equivalent work experience
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.”
