Senior Principal Risk Management Analyst

Xcel Energy Services Inc; Denver (CO); Hybrid; USD 98,000 - 139,000; Full time

Benefits offered by this job

Medical/Pharmacy Plan

401(k) plan

Pension

Paid time off

Job summary

Xcel Energy Services Inc invites an experienced risk modeling professional to join our enterprise risk function. You will collect internal and external risk data, build probabilistic models, and quantify hazard-based risks to inform strategic decisions.

The role engages stakeholders to align on scope, inputs, results, and recommendations. Required are a bachelor’s degree in a quantitative field and at least 7 years in risk modeling, with advanced statistical and programming capabilities.

Qualifications

• Bachelor’s degree in computer science, statistics, finance, mathematics, energy economics, or equivalent.
• Advanced degree desired.
• A minimum of 7 years of work experience in risk modeling or a related field is required.
• Experience with engineering/utility industry operations and risk assessment.

Responsibilities

• Develops models and metrics to quantify risk based on economic, probability, and engineering principles.
• Evaluates strategic options for managing risk and uncertainty.
• Develops methodologies for incorporating risk metrics to support decisions.
• Designs and performs quantitative studies of business assumptions.
• Leverages data sources to deliver analyses of hazard-based risks and uncertainties.
• Communicates risk management results to support decision-making and resource allocation.

Skills

Risk modeling

Probabilistic modeling

Data analysis

Statistical methods

Programming

Data pipelines

AI basics

Education

Bachelor’s degree in CS/Stats/Finance

Advanced degree preferred

Tools

Programming languages

Statistical software

Data warehouses

Job description

Xcel Energy (NASDAQ: XEL) is a leading energy provider and Fortune 500 company, dedicated to serving millions of electricity and natural gas customers across eight states: Minnesota, Colorado, Wisconsin, Michigan, North Dakota, South Dakota, New Mexico and Texas. We make energy work better for our customers, helping them thrive every day. That means always raising the bar - delivering better service and providing more reliable, resilient, and sustainable energy. Xcel Energy is a place where you’ll have opportunities to grow, expand your skills, and help lead the clean energy transition. We offer meaningful rewards, recognition, and support to help you build your career and make an impact - both on the job and beyond. Most importantly, it means you’ll be joining a company that knows employees are the driving force behind its success and is committed to helping you be your best. Xcel Energy supports a hybrid work model to enable collaboration and flexibility. Many roles are expected to work onsite three days per week (Tuesday–Thursday); however, work location expectations vary based on role, team, and business needs.

Position Summary

Under broad direction, works with stakeholders across multiple functions to establish a risk‑based modeling approach for the enterprise top risks, using Xcel Energy’s risk framework and criteria. Collects the required internal and external risk and contextual information. Conducts probabilistic modeling of hazard‑based risks and of uncertainties in operations, planning, modeling, and decision‑making processes. Engages stakeholders throughout the process to align on scope, inputs, assumptions, results, and recommendations.

Essential Responsibilities

• Develops models and metrics, as part of daily responsibilities, to quantify risk based on economic, probability, and engineering principles.
• Evaluates strategic options for managing risk and uncertainty.
• Develops methodologies for incorporating risk metrics to support strategic and operational decisions.
• Designs and performs quantitative studies of business assumptions.
• Leverages tools, existing studies, business area systems, and data to identify, develop, and deliver analyses of hazard‑based risks, uncertainties in assumptions, and uncertainties in achieving business objectives.
• Uses trends and analysis to extrapolate historical data to current and future levels of uncertainty and risk.
• Continually defines and coordinates existing and future data requirements for the analysis necessary to optimize industry risk benchmarking and enterprise risk assessment and management.
• Communicates risk management processes, results, and recommendations to support decision‑making, resource allocation, assessment of mitigation program effectiveness, and monitoring of risk trends.

Minimum Requirements

• Bachelor's degree in computer science, statistics, finance, mathematics, energy economics, or equivalent.
• Advanced degree desired.
• A minimum of 7 years of work experience in risk modeling or a related field is required.
• Related fields may include actuarial science, risk management, economics, and energy systems.
• Engineering/Utility Industry - Knowledge of utility business operations, maintenance, engineering, and systems.
• Quantitative/Statistical Modeling - Ability to develop and analyze predictive models, forecasts, and simulations.
• Advanced knowledge of statistics, econometrics, and risk modeling.
• Demonstrated analytical and financial analysis capabilities.
• Programming/Data Platforms - Advanced proficiency in current programming and statistical software for data analysis, statistical modeling, and simulation.
• Experience with large data repository systems for large-scale data processing, data pipelines, and analytics.
• Artificial Intelligence - Advanced use of AI tools and techniques, including generative AI, to accelerate data collection, analysis, modeling, and reporting.

Our culture is grounded in shared values and employee commitments that guide how we work, support one another, and grow together.

Our Values

• Connected
• Committed
• Trustworthy
• Safe

Our Employee Commitments

• Work that makes a difference
• A team you can count of Opportunities to grow
• Rewards that help you thrive

Non-Bargaining

The anticipated starting base pay for this position is: $97,600.00 to $138,600.00 per year.

This position is eligible for the following benefits:

• Annual Incentive Program
• Medical/Pharmacy Plan
• Dental
• Vision
• Life Insurance
• Dependent Care Flexible Spending Account
• Health Care Flexible Spending Account
• Health Savings Account (HSA) (if enrolled in eligible health plan)
• Limited-Purpose FSA (if enrolled in eligible health plan and HSA)
• Transportation Reimbursement Account
• Short-term disability (STD)
• Long-term disability (LTD)
• Employee Assistance Program (EAP)
• Fitness Center Reimbursement (if enrolled in eligible health plan)
• Tuition reimbursement
• Transit programs
• Employee recognition program
• Pension
• 401(k) plan
• Paid time off (PTO)
• Holidays
• Volunteer Paid Time Off (VPTO)
• Parental Leave

We provide job applicants reasonable accommodations for disabilities throughout the application process.

All Xcel Energy employees and contractors share responsibility for protecting the company's information and systems by adhering to cybersecurity policies, standards, and best practices, recognizing that cybersecurity is everyone's responsibility.

Accessibility Statement Xcel Energy endeavors to make https://www.xcelenergy.com and https://jobs.xcelenergy.com accessible to any and all users.

EEO is the Law (PDF) | Equal Opportunity Statement (PDF) | Employee Rights (PDF)

Deadline to Apply: 11/16/26

You. Us. Together. At Xcel Energy, we’re more than an energy company. We’re reinventing how we power communities. Redefining how we care for customers. Reaffirming our commitment to the planet. We’re committed to leading with equity and inclusion. You’re not waiting for change – you’re creating it. You’re driven to protect the environment, support your community, and seek innovation. You want a career that grows with you and an employer who values you. You are reliable, trustworthy and bring integrity to everything you do. We are leading the way in clean energy. We’re using technology and innovation in every facet of our company. We’re providing safe, stable jobs with robust benefits. We keep our customers at the center of all we do. We’re committed to hiring a workforce that reflects the communities we serve. Together, we can provide carbon‑free electricity by 2050. Together, we can take care of the environment and our communities. Together, we can create a place where everyone belongs. Together we’re building a better tomorrow.