Sr. (Lead) Quantitative Analyst I (II)

*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)