(Sr./Lead) Quantitative Analyst I (II)

Flexible Work Arrangement: Hybrid

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.

• 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

• 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)