Portland General Electric Principal Quantitative Trading Analyst, Portland, OR in Tualatin, Oregon
This is an exciting time to join Portland General Electric. As Oregon’s largest electric utility, Portland General Electric is leading an energy transformation that will harness the power of clean and renewable resources. Our vision for a clean energy future relies on three interrelated and overarching strategies: de-carbonize through investing in clean and reliable energy; modernize through a smarter more resilient grid; and empower our customers in their energy technology choices.
We’re searching for innovative, customer and results-obsessed leaders to help power our mission and lead the way in championing the world’s clean energy future!
Job Function Summary
Develops, validates and uses quantitative modeling, valuation and metrics to support effective analysis and decision making in trading, portfolio management, origination, fundamentals, market risk, credit risk, etc.
We are looking for a Quantitative Analyst that can work independently in pricing structured commercial deals that fit PGE’s Power Operational needs to serve customer load and reduce Net Variable Power Cost. This position needs to also understand the Power and Gas market fundamentals to propose trading strategies for Power and Gas commodities. Our ideal candidate has highly technical computer skills, extensive energy industry knowledge and commodity traded markets.
Key Job Information
Principal Quantitative Trading Analyst
Principal: Requires a recognized expert within the company
Anticipates internal and or external business challenges and vendor and/or regulatory issues; recommends process, product or service improvements
Solves unique and complex problems that have a broad impact on the business
Progression to this level is restricted on the basis of business requirements
Data Collection Works independently to understand what data are available and relevant, including internal and external data sources, leveraging new data collection processes. Architects/models the data as necessary and shares the models with the information and data architect for verification. Collects and integrates new and existing datasets based on the inputs received. Informs and validates with engineers regarding acquisition methods. Ensures data procured aligns with PGE’s compliance, access management and control policies. Shares results of alignment and assessment of data quality with data steward. Identifies and recommends fixes to the quality of data to the business stewards and data engineers.
Data Modeling Develops models and tools that support a long-term view of energy market evolution, including anticipating and responding to regulatory, policy and economic trends for the optimization of business risk mitigation.
Leads quantitative research and modeling activities related to macro industry trends, energy markets, ancillary services, capacity markets and commercial activities using tools such as artificial intelligence, machine learning, game theory, supply and demand and price simulation models, probabilistic models, option valuation tools and portfolio characteristic desk tools.
Data Analysis Helps lead Power Operations quantitative analyses, including development of new quantitative models, validating and/or enhancing existing models and assisting internal partners and staff in understanding and using the models for effective risk analysis and decision making.
Helps lead development of statistical analysis and quantitative tools for trading and hedging purposes, including modeling commodity data for specific markets and producing ad hoc analysis based on short-term market developments.
Helps lead analytical support for trading, portfolio management, origination, fundamentals, market risk, credit risk and finance, interpreting and sharing qualitative insights and feedback from commercial teams into quantifiable terms to help improve business performance.
Initiates and analyzes surrounding optimization in competitive markets, stochastic simulations and the interplay between zero- or low-marginal cost resources and traditional energy generators.
Energy Portfolio Risk Optimization Identifies and implements effective approaches to quantitatively evaluate energy infrastructure benefits and costs, as well as risks and risk mitigation.
Helps design complex valuation and price models for structured products, including tolling agreements, PPA agreements, full requirements/load-following deals, shaped products, revenue puts, exotic options (swaptions, basket options, look-back options, heat rate options, etc.), weather derivatives, unit contingency, etc.
Helps develop risk metrics and models such as Value at Risk (VaR), Gross Margin at Risk (GMaR), Potential Future Exposure (PFE), operational risk assessments, liquidity risk analytics, back-testing, stress and scenario frameworks.
Helps propose and implement portfolio and asset optimization frameworks. Will build bespoke frameworks for exploring, designing and deploying systematic portfolio strategies, including generation asset optimization, natural gas storage and transportation optimization, cross-commodity hedge optimization (optimal hedge ratio) and FTR hedging/bidding optimization.
Business Partnership and Thought Leadership Supports senior leadership and key business partners to understand, quantify and act upon uncertainty in an increasingly complex and data-driven business landscape. Translates complex data into compelling and relevant business language. Assesses and communicates cost/benefits and ROI for various decisions in conjunction with the company’s strategy, risk appetite and risk posture.
Education Requires a bachelor’s degree in computer science, electrical engineering, economics or other related field or equivalent experience. MSc or PhD in mathematics, statistics or computer science or related field, such as physics, economics or operations research preferred.
Experience Typically 12 or more years in data science or related field. Prototyping and successful implementation experience required. Three or more years of experience in a quantitative role within the energy industry or directly related academic setting with application in the energy industry. Experience with wholesale power and/or commodities markets and quantitative energy trading experience is preferred. Machine learning and predictive analytics experience preferred.
Certifications, Licenses and Training Time series analysis and Monte Carlo simulations, advanced regression and econometric techniques, advanced optimization techniques leveraging commercial solvers. Quantitative models in Python, R, C#, Julia, AWS, Azure, etc.). Experience with Production Cost Modeling (Aurora, PLEXOS, GE MAPs, etc.) preferred.
Competencies (Knowledge, Skills, Abilities)
Expert quantitative analysis skills
Expert data literacy
Advanced knowledge of multiple business processes in three or more of the following business areas: Corporate, T&D, Generation and Operations, Power Supply
Advanced ability to develop complex predictive models and represent the models using simple and advanced visualization mechanism
Advanced understanding and knowledge of energy, technology and utility domain trends
Expert business acumen
Advanced interpersonal skills
Expert written/oral communication skills
Expert analytical thinking skills
Expert decision-making skills
Advanced change leadership skills
Expert presentation/facilitation skills
Expert enterprise/business awareness skills
Advanced problem-solving skills
Physical and Cognitive Demands
Substantial: Consistent use of logic or scientific thinking to define problems, collect information, establish facts and draw valid conclusions (for example, engineer, HR director, plant manager, etc.).
Ability to adhere to set response times, deadlines and time-sensitive tasks
Ability to follow accuracy standards
Ability to follow through on decision-making tasks
Ability to interact effectively and collaboratively within a team environment
Ability to communicate and problem solve when under stress
Ability to respond and adapt to frequent change
Ability to accept and demonstrate self-awareness when provided constructive feedback
Ability to discern feedback and acknowledge ownership of areas of improvement
Ability to avoid future mistakes by applying reasonable skills to new but similar work situations or tasks
Ability to successfully collaborate with peers, managers and others within the organization Demonstrates sound memory
Ability to process new information to be applied consistently to work tasks
Ability to adhere to pre-established schedule, including start/stop time and break/lunch schedule
Ability to work long hours
Ability to work a variable schedule
Ability to report to work and perform work during periods of severe inclement weather
Ability to consistently meet attendance standards for regular, reliable, predictable, full-time attendance
Ability to work shift schedule
Ability to work on-call schedule
Environment - Indoor/Outdoor
- Office environment
Join us today and power your potential!
To be considered for this position, please complete the following employment application by the posting close date. A cover letter may be needed with your application to be considered for this position.
PGE believes in rewarding strong performance. We provide a total compensation package that is designed to reward your contributions to the company, and, at the same time, support your well-being and professional development, both now and into the future.
PGE is committed to diversity and inclusion in the workplace and is an equal opportunity employer. PGE will not discriminate against any employee or applicant for employment based on race, color, national origin, gender, gender identity, sexual orientation, age, religion, disability, protected veteran status, or other characteristics protected by law.
Assisting with storms or other Company emergencies is a part of all positions at Portland General Electric.
Talent Acquisition Contact:
The posting closes at midnight (Pacific Time) on the closing date below:
At Portland General Electric, we’re innovators, builders, and achievers. We’re committed to powering our customers’ potential and making a difference for our community and the planet. Today, that commitment includes developing an intelligent and resilient electric grid, electrifying transportation and de-carbonizing the energy sector.
We’re proud to deliver an exceptional experience to help our customers thrive. Our mission is to make clean, reliable and affordable energy services available to all. We obsess over serving customers and are committed to growing employee career paths with purpose. Equity and inclusion are core business values; we celebrate our differences and are committed to developing teams that reflect the communities we serve.