Senior Market Risk Specialist

Minimum Pay Rate: $127,857.60 

Maximum Pay Rate: $169,312.00 

Civil Service Status: Civil Service

Apply by Date: 02/02/2026 

Posting Type: Open 

 

We are seeking a Senior Market Risk Specialist to lead the assessment and mitigation of market risk exposures across SMUD's diverse energy portfolios, including power, gas, and renewables. The ideal candidate will have strong analytical and quantitative modeling skills, extensive experience in energy trading and risk management, and the ability to communicate complex risk insights to executive leadership. This role offers an exciting opportunity to shape risk policies, support strategic decision-making, and contribute to SMUD's commitment to managing price volatility and regulatory challenges in the energy market.

 

Note: We are filling this position at either the Principal or Senior level. To be considered at the Principal level, please apply to requisition #2682.

Purpose

Plays a critical role in monitoring, analyzing and managing market risks associated with the utility’s energy procurement, trading and hedging activities. This position supports the company’s risk oversight function by delivering quantitative assessments, developing risk models, and collaborating with key internal stakeholders to ensure risk-aware business decisions. This role requires a strong understanding of energy markets, quantitative risk tools, and regulatory frameworks applicable to the utility sector. 

Nature and Scope

There are five (5) levels in this job classification series that have similar job content but with progressively more challenging degrees and levels of skill, responsibility, knowledge, experience, and qualification requirements: 

 

Flex classifications (that permit progression from lower-level classes to higher level classes without examination based upon assessment of an individual’s experience and performance) within the series:  

 

• Entry: Incumbent acquires knowledge, skills and abilities to perform the tasks associated within the series but are not yet demonstrating these at the Journey level.
• Journey: Incumbent is demonstrating the required skills and knowledge to independently perform the full scope of the job. 
   

Non-Flex classifications (that promote from lower-level classes to higher level classes and require an examination, such as an interview, based upon individual experience and performance) within the series:  

 

• Senior: Advanced journey level resource who is responsible for advanced assignments, as dictated by the work needing to be performed; may serve in a lead and/or supervisory capacity.
• Principal: Subject matter expert/lead/supervisory level and is responsible for leading the most advanced work, as dictated by the work needing to be performed. 
• Supervisor: Working supervisor directing the work of a functional team. 
   

Entry to Journey: Incumbents at the entry level are required to successfully “progress” to the journey level within 60 months of appointment to remain within the job series. 

 

Seniors, Principals, and/or Supervisors must be hired through a promotional process and do not automatically progress from lower levels in the series. 

Duties and Responsibilities

• Monitor and assess market risk exposures related to electricity, natural gas, renewable energy credits, and other commodity positions.
• Support the implementation and improvement of risk metrics, including Value-at-Risk (VaR), stress testing, and sensitivity assessment.
• Track market trends, price movements, and economic drivers that affect portfolio exposure and report findings to senior management.
• Assist in the development and maintenance of risk models and tools for portfolio valuation and scenario analysis.
• Ensure compliance with internal risk policies and external regulatory requirements (e.g., FERC, NERC, ISO/RTO rules).
• Collaborate with Front Office (trading, origination), Treasury, Finance, and Regulatory teams to understand and evaluate the risk impact of commercial decisions.
• Contribute to the design and enforcement of trading and hedging limits; escalate limit breaches as necessary.
• Prepare regular and ad hoc risk reports and presentations for Risk Committees and senior management.
• Participate in the ongoing enhancement of the risk management framework, including system upgrades, policy reviews, and process improvements.
• Participate in the creation and forecasting of the commodity budget to support strategi