Principal Market Risk Specialist

Principal Market Risk Specialist

Department: Commodity Risk Management

Location: Sacramento, CA, US,

Category: Miscellaneous

Minimum Pay Rate: $

Maximum Pay Rate: $

Civil Service Status: Civil Service

Apply by Date: 02/02/2026

Posting Type: Open

We are seeking a Principal 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 Senior level, please apply to requisition #
2684
.

This role is a subject matter expert responsible for identifying, assessing and mitigating market risk exposures across the organization's energy trading, hedging, and procurement activities. The role provides strategic insights, analytical expertise, and leadership in market risk measurement and policy development to support the company's risk‑adjusted decision‑making processes.

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:

• Entry: Incumbent acquires knowledge, skills and abilities to perform the tasks associated within the series but is 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.
• 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.

• Oversee the assessment and monitoring of market risk exposures across power, gas, renewables, and other commodity portfolios.
• Design and implement quantitative risk models and tools (e.g., Value‑at‑Risk, stress testing, scenario evaluation, gross margin).
• Develop, refine and maintain risk policies, procedures and controls in alignment with corporate objectives and regulatory requirements.
• Partner with front‑office trading, finance, treasury, and operations teams to provide actionable risk insights and ensure compliance with risk limits.
• Conduct regular assessments of market trends, price drivers, and macroeconomic factors impacting the utility's exposure.
• Present complex risk findings to executive management, including the Risk Oversight Committee and Board of Directors.
• Evaluate and recommend enhancements to the company's energy procurement strategies from a risk‑adjusted perspective.
• Ensure compliance with relevant regulatory bodies (e.g., FERC, NERC, state utility commissions).
• Mentor junior risk staff and contribute to a culture of risk awareness across the organization.
• Create and forecast the commodity budget to support strategic planning and rate setting.
• Monitor and report weekly and monthly on budget performance, assessing market conditions and risks.
• Recommend mitigation strategies for variances between actual and expected expenditures.
• Perform other related duties as needed; schedules, hours and locations may fluctuate based on business needs.