Analyst, Power Market Risk

Constellation; Chicago (IL); On-site; USD 79,000 - 88,000; Full time

Job summary

Constellation, a leading energy provider, seeks a Market Risk Analyst to support the risk management function of its wholesale portfolio in the Chicago area. You will identify risk drivers, analyze exposures, and assess P&L impacts from price movements and position changes.

The role requires strong statistics, financial modeling, and PowerBI skills, with experience in energy markets and the ability to work independently in a fast-paced environment.

Qualifications

• Bachelor's Degree in a related field is required.
• 2+ years of related experience, including at least 1 year in energy or financial product risk management.
• Experience with PowerBI.
• Strong proficiency in statistics, financial modeling, and options theory.
• Ability to work effectively and independently in a fast-paced environment.
• Excellent academic background.
• Experience in energy markets.

Responsibilities

• Provide daily updates of risks and positions for the specified region(s).
• Use quantitative methods to develop new risk frameworks and perform ad-hoc analyses.
• Raise potential issues to Market Risk Management.
• Enforce compliance with trading limits and risk policies.
• Develop automated risk metric processes to improve efficiency.
• Collaborate with portfolio managers to quantify emerging market risks and hedging strategies.
• Prepare analyses for Risk Management Committee meetings.

Skills

Statistics & financial modeling

Energy markets knowledge

Communication skills

Independent and fast-paced work

Education

Bachelor's Degree in related field

Tools

PowerBI

VBA

Python

Matlab

SQL

Job description

Who We Are

As the largest private-sector power producer in the world and the nation's largest producer of clean and reliable energy, Constellation is focused on our purpose: lighting the way to a brilliant tomorrow for all. We have been the leader in clean energy production for more than a decade, and we are cultivating a workplace where our employees can grow, thrive, and contribute. Now integrated with Calpine, our portfolio includes 55 gigawatts of capacity from nuclear, natural gas, geothermal, hydro, wind and solar facilities, with the generating capacity to power the equivalent of 27 million homes.

Who We Are

As the largest private-sector power producer in the world and the nation's largest producer of clean and reliable energy, Constellation is focused on our purpose: lighting the way to a brilliant tomorrow for all. We have been the leader in clean energy production for more than a decade, and we are cultivating a workplace where our employees can grow, thrive, and contribute. Now integrated with Calpine, our portfolio includes 55 gigawatts of capacity from nuclear, natural gas, geothermal, hydro, wind and solar facilities, with the generating capacity to power the equivalent of 27 million homes. Our culture and employee experience make it clear: We are powered by passion and purpose. Together, we're creating healthier communities and a cleaner planet, and our people are the driving force behind our success. At Constellation, you can build a fulfilling career with opportunities to learn, grow and make an impact. By doing our best work and meeting new challenges, we can accomplish great things. Join us in meeting the country's energy needs today and tomorrow.

Total Rewards

Constellation offers an extensive selection of benefits and rewards to help our employees thrive professionally and personally. We provide competitive compensation and a wide-range of benefits that support both employees and their families, helping them prepare for the future. In addition to highly competitive salaries, eligible employees are offered a bonus program, 401(k) with company match, employee stock purchase program; comprehensive medical, dental and vision benefits, including robust wellbeing programs; disability and life insurance benefits; paid time off for vacation, holidays, and sick days; and much more.

Expected salary range

of $79,200 to $88,000, varies based on experience, along with comprehensive benefits package that includes bonus and 401(k).

Primary Purpose Of Position

The successful candidate will be an integral part of the risk management function of Constellation. The company's wholesale power marketing and trading organization is responsible for optimizing the profitability of a growing portfolio of assets and load obligations as well as the implementation of risk management objectives. The Market Risk function is responsible for the oversight of market risk dynamics and their impacts on Constellation's total portfolio. As a key contributor to the regional Power Portfolio, this role supports the desk manager in monitoring market risks by identifying key risk drivers, analyzing exposures, and assessing PNL impacts from price movements, position changes, and market dynamics. It involves helping to develop and enforce risk limits, tracking portfolio sensitivities and option Greeks, and collaborating on strategies to mitigate downside risk while enhancing profitability. Acting as the primary liaison between the Market Risk Group and the trading desk, the individual becomes a subject matter expert on the portfolio, ensuring objective daily risk oversight. Responsibilities also include flagging and communicating risk concentrations, limit breaches, and significant exposures to both Commercial and Risk teams, while building deep expertise in the energy industry covering regional market rules, physical operations, generation assets, customer agreements, and structured transactions.

Primary Duties And Accountabilities

• Provide daily update of risks and positions for specified region(s) including significant changes.
• Use quantitative methods to develop new frameworks and perform ad-hoc analyses for risk limits and guidelines as required by business activity, market events, or changes in risk appetite.
• Raise potential issues to Market Risk Management.
• Enforces compliance with trading limits as well as market risk policies and procedures.
• Calculates, streamlines, and automates risk metric processes to improve efficiency and maintain high quality standards.
• Establishes and strengthens active dialogue with portfolio managers to understand and quantify emerging market risks and hedge strategies.
• Prepare analysis for Risk Management Committee meetings and provides special or ad hoc analysis to support various management meetings.

Minimum Qualifications

• Bachelor's Degree in a related field
• 2-years of related experience including at least 1-year in energy or financial product risk management
• Experience with PowerBI
• Demonstrated proficiency in statistics, financial modeling, and options theory
• Demonstrated ability to work effectively and independently in a fast-paced and rapidly changing environment
• Demonstrated ability to challenge the status quo while engaging constructively when challenged
• Excellent academic background
• Experience in energy markets
• Strong organizational, time management, and problem-solving skills
• Strong organizational skills with high work standards; takes initiative, adapts quickly to change, and exercises excellent judgment to solve problems and implement effective solutions
• Advanced proficiency with Microsoft Office applications (e.g. Microsoft Excel, PowerPoint, etc.)
• Excellent interpersonal and communication skills, including verbal and written
• Ability to effectively collaborate and present to other professionals and/or senior leadership in a concise and confident manner
• Demonstrated experience working independently and managing assigned responsibilities with minimal supervision
• Proven ability to work effectively both independently and collaboratively in team environments
• Has acquired a high level understanding of the group's overall processes, with process improvement in mind. (Challenge the status quo)
• Ability to work effectively under high stress situations in dynamic, fast paced environments
• Knowledge of business practices and processes related to role
• Exhibit strong problem-solving, analytical, and critical thinking skills

Preferred Qualifications

• Master's degree in Finance, Economics, Business Administration or Engineering
• Experience with VBA, PowerBI, Python, Matlab, or SQL
• Proven understanding of price and volumetric risk and their application to hedging load and generation positions
• Demonstrated understanding of energy related contracts