Market Design Specialist - Energy Market Design

New York ISO•Rensselaer, NY

2d•$80,800 - $135,000•Hybrid

About The Position

The New York Independent System Operator (NYISO) manages the efficient flow of electricity on over 11,000 circuit-miles of high-voltage transmission lines and dispatches power from hundreds of generating units across the state. The NYISO applies cutting-edge technology to operate a reliable electricity system, manage competitive markets for wholesale electricity, and plan for the state's energy future. The Market Structures department is seeking a full-time Market Design Specialist to join the Energy Market Design team. This role involves acting as a technical expert in the design, modification, and implementation of market rules for NYISO's market products. The specialist will collaborate with internal and external stakeholders to research and design new market rules and products, and develop enhancements to existing ones. Responsibilities include assisting in the development of new business processes, market rules, and tariff changes, leading the development of business requirements for new market designs, and presenting proposals to stakeholders. The role also serves as the primary point of contact between market participants and internal NYISO stakeholders, and supports project teams in implementing market designs. Successful candidates are self-motivated, possess leadership skills, experience managing competing priorities and vendor relationships, and have good judgment, communication, problem-solving, and decision-making abilities.

Requirements

Bachelor’s Degree in Engineering, Operations Research, Finance, Economics or other related technical field required.
Knowledge of Power Systems Engineering and/or Economics is preferred.
Minimum of two years NYISO experience or three years of energy industry or professional experience, including ISO-specific experience.
Demonstrated understanding of power industry and/or commodity markets.
Business experience in electric power systems or wholesale electric markets desired.
Ability to read, analyze and interpret common scientific and technical journals, financial reports and legal documents.
Ability to respond to common inquiries or complaints from market participants, regulatory agencies or members of the business community.
Ability to write speeches and articles for publication that conform to prescribed style and format.
Ability to effectively present information to top management, public groups and/or board members.
Ability to work with mathematical concepts such as probability and statistical inference and fundamentals of geometry / trigonometry.
Ability to apply concepts such as fractions, percentages, ratios and proportions to practical situations.
Ability to comprehend and apply principles of advanced calculus, modern algebra and advanced statistical theory.
Ability to work with concepts such as limits, rings, quadratic and differential equations and proofs of theorems.
Ability to apply principles of logical or scientific thinking to a wide range of intellectual and practical problems.
Ability to work with nonverbal symbolism (formulas, scientific equations, graphs, etc.,) in its most difficult phases.
Ability to work with a variety of abstract and concrete variables.
Intermediate competency in Windows operating environment using MS Office applications, e-mail and internet programs.
Proficiency in common statistical analysis software programs.
Ability to concisely summarize and visualize complex data using a multitude of data visualization techniques (graphs, maps, charts, tables, figures, etc.).

Nice To Haves

Master’s Degree strongly preferred or equivalent combination of education and experience.
Knowledge of Power Systems Engineering and/or Economics is preferred.

Responsibilities

Analyze NYISO markets to identify potential market design flaws and opportunities for improvements in market effectiveness and efficiency, focusing on market outcomes related to system conditions, participant behavior, reliability needs, and public policies.
Gather, organize, summarize, distribute, and act upon expert feedback from internal NYISO subject matter experts, consultants, and external stakeholders.
Analyze market evolution recommendations to determine their feasibility and potential effectiveness in achieving desired outcomes.
Lead the development of product-based solutions for identified problems or needs for increased functionality or effectiveness.
Prepare presentations for and collect information and perspectives from discussions with market stakeholders.
Prepare market design concept reports including conclusions from analysis and recommendations for solutions.
Perform assessments and compile results of impacts to New York consumers from new market solutions.
Facilitate the negotiation of complex rule changes with significant system impacts, requiring repeated discussions with stakeholders with differing interests.
Develop campaign strategies to move controversial solutions through stakeholder discussions.
Write and review draft tariff modifications, memos to the Board of Directors, and tariff filing letters.
Frequently interact with and support business analysts who document detailed business and software requirements for market design implementation.
Ensure that the market vision, market design documents, annual master plan, and product plans remain current and reflect future design opportunities under consideration.
Present market design proposals, project statuses, and reports to NYISO senior management.
Support NYISO Strategic and Business Plan objectives.
Develop understanding of the NYISO regulatory structure, including governance, tariffs, agreements, and manuals.
Understand the processes used to evolve NYISO's market designs and how those evolutions align with the NYISO Mission and Goals.
Review, assess, and develop summary reports of market design features of other ISO/RTO markets.
Act as the primary point of contact between market participants, market design, and business owners.
Represent NYISO in industry forums and conferences as an independent, unbiased source of information on the design and operation of wholesale markets in New York.
Support system design and functionality for evolving market designs to ensure software and business processes are consistent with the intent of market rule changes.