PI
Sr. (Lead) Quantitative Analyst I (II)
full-time•Audubon
About this role
Flexible Work Arrangement: Remote
The Sr. (Lead) Quantitative Analyst is responsible for overseeing PJM's models for credit calculations and to support trade surveillance. Working under the direction of the Manager, Surveillance Simulation, the responsibilities include leading the analytical team to develop modeling to capture the risks of market participant activity 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 simulation models, margin market participants appropriately and make changes governing documents to close any perceived loopholes and ensure efficient markets.
Essential Functions:
Lead quantitative analytical team for simulation modeling:
Provide quantitative analytical support to identify simulation model enhancements.
Provide quantitative analytical support to backtest simulation models.
Maintain a working historical simulation model that will calculate margin requirement for FTR products.
Conduct ad hoc analysis pertaining to margining of FTR products.
Develop tools to analyze historical simulation model results.
Develop risk controls and reporting to management.
Interface with stakeholders, management, peers and others and provide expertise in the area of risk modeling.
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: SQL, Matlab, SAS, Alteryx, Statistical & Analysis Software.
Characteristics and Qualifications:
Required:
Bachelor's degree in Engineering, Mathematics, Economics 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:
Master's degree in Engineering, PhD., Economics, Mathematics or Engineering
Experience with PJM operations, markets, and planning functions
Experience using PSS/e (power system analysis program)
What you'll do
- The Sr. (Lead) Quantitative Analyst oversees PJM's models for credit calculations and supports trade surveillance. Responsibilities include leading the analytical team to develop modeling for market risks and identifying gaps in market rules.
About PJM Interconnection
PJM Interconnection manages the high-voltage electric system that provides power to 67 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.”
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Frequently Asked Questions
What does a Sr. (Lead) Quantitative Analyst I (II) do at PJM Interconnection?
As a Sr. (Lead) Quantitative Analyst I (II) at PJM Interconnection, you will: the Sr. (Lead) Quantitative Analyst oversees PJM's models for credit calculations and supports trade surveillance. Responsibilities include leading the analytical team to develop modeling for market risks and identifying gaps in market rules..
Is the Sr. (Lead) Quantitative Analyst I (II) position at PJM Interconnection remote?
The Sr. (Lead) Quantitative Analyst I (II) position at PJM Interconnection is based in Audubon, Pennsylvania, United States. Contact the company through Clera for specific work arrangement details.
How do I apply for the Sr. (Lead) Quantitative Analyst I (II) position at PJM Interconnection?
You can apply for the Sr. (Lead) Quantitative Analyst I (II) position at PJM Interconnectiondirectly through Clera. Click the "Apply Now" button above to start your application. Clera's AI-powered platform will help match your profile with this opportunity and guide you through the application process.