Description

This position will be filled at either the Journey, Senior or Principal level. To be considered at the Senior or Principal level, please apply to requisitions #2838 or #2836.

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
Supports the assessment, analysis and monitoring of market risk exposures across SMUD’s energy trading, procurement and hedging activities by identifying sources of price volatility and regulatory risk, developing analytical risk models under guidance from senior staff, and delivering data-driven insights to inform risk-aware strategies. This position ensures that exposure to price volatility and market uncertainty is managed effectively and in compliance with corporate risk policies and regulatory expectations.

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

• Monitor day-to-day market risk exposures across electric power, natural gas, and environmental products.
• Calculate and evaluate risk metrics such as Value-at-Risk (VaR), stress tests, and position limits.
• Produce recurring and ad hoc market risk reports for internal stakeholders, including trading, finance, and executive teams.
• Support the evaluation and optimization of hedging strategies and portfolio risk.
• Assist with enhancements to risk models, data analytics tools, and system processes.
• Investigate significant market events and explain impacts on portfolio performance or risk metrics.
• Contribute to the enforcement of risk limits and escalation of breaches when necessary.
• Help ensure compliance with risk management policies, internal controls, and regulatory frameworks (e.g., FERC, NERC, ISO/RTO rules).
• Collaborate with front office, operations, regulatory, and finance teams to provide risk insights.
• Support the creation and forecasting of the commodity budget to support strategic planning and rate setting.
• Support the monitoring and reporting of weekly and monthly budget performance, assessing market conditions and risks.
• Perform other related duties as needed; schedules, hours and locations may fluctuate based on business needs.

Requirements

Required Education
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, seven (7+) or more years of experience are required.

• Required Experience Qualifications
  At least three (3+) years of work experience in energy market risk, utility analytics, or commodity trading support. Master’s degree may be substituted for one year of applicable experience.

Desirable Qualifications
Knowledge of:

• Energy markets: Knowledge of energy modeling and simulation of electric and gas portfolios.
• Renewable energy sources: Familiarity with renewable energy markets, capacity trading, or environmental compliance products (e.g., RECs, carbon credits).

Education:

• Master’s degree in a quantitative discipline: Master’s degree in economics, engineering, mathematics, statistics, or similar quantitative discipline.Relevant certifications: Hold relevant certifications in energy risk management or related fields.

Experience:

• Energy industry background: Experience with risk and trading systems (e.g., Endur, Allegro, PCI, PowerSettlements)

Physical Requirements
Applicants must be able to perform the essential job functions with or without a reasonable accommodation.