Principal Market Risk Specialist (Analyst)

Principal Market Risk Specialist (Analyst) 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. 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. 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. Bachelor's degree in finance, economics, engineering, mathematics, statistics, or a related field from an accredited college or university, or equivalent experience. If no degree, eleven (11+) or more years of experience are required. At least seven (7+) years of experience in market risk, energy trading, quantitative risk management within the utility or energy sector. Deep knowledge of North American energy markets (e.g., ISO/RTO structures such as PJM, CAISO, ERCOT). Working knowledge with energy trading and risk management systems (e.g., Endur, Allegro, PowerBI, ETRM platforms). To demonstrate strong analytical and quantitative modeling skills with proficiency in risk tools and programming languages (e.g., Energy Market Simulation Software, Python, R, MATLAB, SQL). Communicate findings to internal audiences; prepare and present reports and summaries. Interpret and apply SMUD policies, procedures, and applicable MOU under guidance; understand and follow established guidelines and agreements. Learn and apply energy risk management and portfolio optimization theories; support the application of these theories in practical scenarios. Provide practical and feasible energy trading solutions; support the development of risk-neutral and cost-effective solutions. Contribute to developing and presenting energy risk management and financial recommendations; balance analytical results with market realities under supervision. Solve problems of low to high complexity creatively and pragmatically; apply basic to complex problem-solving techniques to address issues. Handle stress effectively under time pressure; manage time efficiently and maintain composure during tight deadlines. Collaborate and achieve positive outcomes with cross-departmental team members; work effectively as part of a team to reach common goals. Utilize a personal computer and relevant software systems; demonstrate proficiency in using software tools necessary for the job. Communicate effectively orally and in writing internally; develop clear and concise communication skills. Build and maintain positive working relationships with team members and colleagues. Demonstrate proficiency in Microsoft Excel and data analysis tools (e.g., Energy Market Simulation Software, Python, R, MATLAB, SQL).