Market Validation Analyst

The New York Independent System Operator (NYISO) manages the efficient flow of electricity on more than 11,000 circuit-miles of high-voltage transmission lines, dispatching power from hundreds of generating units across the state.

The NYISO’s Market Operations department invites applications for a full-time Market Validation Analyst to join our team.

The primary responsibilities of the Market Validation Analyst will be to evaluate the Day-Ahead and Real-Time energy, ancillary services, and TCC markets for accuracy.  Activities include reviewing and determining the causes of anomalous market outcomes, and taking appropriate actions for follow-up.  Analyst is also responsible for performing validation and analysis support work for NYISO’s Coordinated Transaction Scheduling protocol with neighboring ISOs. The Market Validation Analyst is expected to develop a strong working knowledge of the NYISO Energy Markets and TCC Markets and will provide market-based reporting and analysis support, including advanced analytics and statistical analysis of market results.

ESSENTIAL DUTIES and RESPONSIBILITIES

• Monitor daily data transfers and web postings of prices from the Day-Ahead and Real-Time energy and Ancillary Services markets, to identify possible pricing anomalies.
• Evaluate market outcomes and reconcile all anomalies through research and analysis, using a variety of reports and data. Document findings clearly and thoroughly.
• Record price reservations and implement appropriate notification process to management and Market Participants.
• Process and verify price corrections; prepare notices of price corrections to the Market Participants.
• Prepare monthly performance statistics of price reservations and corrections and statistical analysis of market outcomes.
• Research and respond to inquiries from external stakeholders, as assigned.
• Investigate opportunities for new validations and procedures, or modifications to existing validations and procedures, as assigned.
• Assist with identifying impacts of NYISO’s Energy Market and TCC Market projects on departmental tools, validations, processes, and procedures. Interpret and update technical documents accordingly, as assigned.
• Perform user acceptance testing of the tools utilized by the team. Develop and execute user acceptance test scenarios independently.  Coordination with departments across NYISO is required.
• Perform analysis and validation to evaluate Coordinated Transaction Scheduling (CTS) outcomes and provide assessments to Operations management. Interface with external ISOs to reconcile anomalies and resolve issues, as needed.
• Support the Operations Department in the integration of various initiatives through reporting, analysis, and testing support. Close coordination with all departments within Operations is required.
• Train new Market Validation team members and assist Associate Analysts as needed.

EDUCATION

Bachelor's Degree (BA/BS) required.  Mathematics, Business, Economics, Computer Science or related technical degree preferred.

EXPERIENCE

Three to five years of related work experience in the areas of data/market analysis, preferably in electricity markets.  Experience with user acceptance testing is highly desired, or an equivalent combination of education, experience, and training.

CERTIFICATES, LICENSES, REGISTRATIONS

None required.

ADDITIONAL REQUIREMENTS

• Excellent communication skills, as position requires interface with both internal and external customers. Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or government regulations. 
• Ability to apply mathematical concepts such as advanced algebra, trigonometry, and statistics.
• Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
• Intermediate competency in Windows operating environment using MS Office applications (emphasis on Excel), e-mail, and internet programs.
• Knowledge of SQL to query databases and Excel macros is a plus.
• Ability to work independently, maintain attention to detail, and conform to deadlines required.

PHYSICAL DEMANDS

While performing the duties of this job, the employee is regularly required to talk or hear.  The employee frequently is required to stand, walk, sit and use hands to perform routine office tasks.  The employee is occasionally required to reach with hands and arms.  The employee must occasionally lift and/or move up to 15 pounds. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

WORK ENVIRONMENT

The noise level in the work environment is usually moderate.  Contact with staff and public will occur.  Travel may be required occasionally to attend and/or conduct meetings, conferences, and training.­­­­­­­­­­­­ This position requires work on weekends and holidays on a rotational basis, and may require work on nights as needed.

At the NYISO, we realize the importance of balancing the availability of remote work with the inherent value of bringing people together to attain success in the areas of maximum collaboration, relationship building and growth, teamwork, innovation and problem solving, as well as professional development and mentoring. In this role, you will be required to work onsite from our Rensselaer, NY location several days per workweek, with the option to work remotely on the remaining days. You will also be expected to respond to all business needs that may require any increase to the regular onsite requirements.

The NYISO takes pride in recruiting, developing and retaining highly talented individuals. In addition to competitive salaries, we offer a comprehensive benefits package and innovative reward programs.

All offers of employment will be made contingent upon the successful completion of a drug screening and background check.

The NYISO is an Equal Opportunity Employer and as such, does not discriminate in its hiring or employment practices.

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