Principal Market Risk Specialist (Analyst)

This position will be filled at either the Journey, Senior or Principal level. To be considered at the Journey or Senior level, please apply to requisitions #2839 or #2838. 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 This role is a subject matter expert responsible for identifying, assessing and mitigating market risk exposures across the organization’s energy trading, hedging, and procurement activities. The role provides strategic insights, analytical expertise, and leadership in market risk measurement and policy development to support the company’s risk-adjusted decision-making processes. This position is critical in ensuring that the utility maintains a robust risk management framework to navigate price volatility in energy markets, regulatory impacts, and external shocks. 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

• Oversee the assessment and monitoring of market risk exposures across power, gas, renewables, and other commodity portfolios.
• Design and implement quantitative risk models and tools (e.g., Value-at-Risk, stress testing, scenario evaluation, gross margin).
• Develop, refine and maintain risk policies, procedures and controls in alignment with corporate objectives and regulatory requirements.
• Partner with front-office trading, finance, treasury, and operations teams to provide actionable risk insights and ensure compliance with risk limits.
• Conduct regular assessments of market trends, price drivers, and macroeconomic factors impacting the utility’s exposure.
• Present complex risk findings to executive management, including the Risk Oversight Committee and Board of Directors.
• Evaluate and recommend enhancements to the company’s energy procurement strategies from a risk-adjusted perspective.
• Ensure compliance with relevant regulatory bodies (e.g., FERC, NERC, state utility commissions).
• Mentor junior risk staff and contribute to a culture of risk awareness across the organization.
• Create and forecast the commodity budget to support strategic planning and rate setting.
• Monitor and report weekly and monthly on budget performance, assessing market conditions and risks.
• Recommend 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.

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