Job Description

INDEPENDENT ELECTRICITY SYSTEM OPERATOR (IESO) Requisition ID: 19534
Location: Oakville - Hybrid
Status: Regular
Business Unit: Market Assessment & Compliance

Why join us?
You\'ve got great skills. And you want to use them in an organization where you know what you do every day matters. We get that.
We also know that ensuring Ontarians have access to affordable and reliable power doesn\'t happen by accident. So we give you the tools, flexibility and support you need to achieve your goals, and development opportunities to help you grow. You\'ll thrive in a collaborative, team-based environment that values your unique skills and experiences - and recognizes that when you do better, we become even better too.

Who we are
The Independent Electricity System Operator (IESO) works at the centre of the province\'s power system, ensuring Ontarians have access to reliable and cost-effective electricity when and where they need it. We operate the province\'s electricity grid 24/7, design, run and oversee the wholesale electricity markets, and plan and prepare to meet Ontario\'s electricity needs - now and into the future.

The Opportunity

The Economic Advisor will perform economic analyses and modeling of the IESO-administered markets to identify and propose remedies to address inappropriate or anomalous conduct, design and structural flaws and inefficiencies in the market. Support core functions of MACD by conducting quantitative and theoretical analysis of fundamental factors underlying IESO\'s energy market. Reporting to the Senior Manager, Market Economics, this position supports the functions of Market Assessment and Investigation units of MACD.

What you\'ll be doing

• Perform quantitative analysis on the performance of the IESO-administered markets particularly related to the extremes of complexity within the operation of the market-based electrical system and draft the report articulating key findings and details.
• Perform data analysis and make policy recommendations on the performance of the IESO-administered markets and the conduct of participants using economic techniques.
• Support improvement of analytic frameworks to guide the monitoring and assessment of the IESO-administered markets
• Act upon the information received from the Line functions and Market Participants as required for market assessment activities.
• Maintain a written record of all communications with Market Participants and maintain the confidentiality of all associated information.
• Report potential breaches of Market Rules, changes to Market Rules, inappropriate or anomalous market behaviors, or market inefficiencies to appropriate individuals and/or units, in accordance with the IESO\'s obligations and policies.
• Assess the current tools, and provide guidance and support regarding the associated development of new tools.
• Follow procedures to safeguard the confidentiality of data from or about Market Participants.
• Respond to Client Support inquiries by providing written procedural instructions, technical advice, guidance, and/or training, as appropriate.
• Work collaboratively with other members of the manager\'s team to effectively implement the goals of the team within the context of the broader corporate direction.
• Develop and maintain appropriate processes, systems and procedures to monitor the various markets and performance of participants in accordance with the policies and procedures of the IESO.
• Perform other duties as may be required.

What you\'ll need to succeed

Requires advanced academic training in Economics, to understand and provide quantitative and qualitative analysis of the design, structure and performance of the competitive electricity marketplace.

Requires excellent oral and written communication skills in order to present technical or complicated concepts, reports or recommendations a manner that is understandable to a broad audience.

Experience of publishing conceptual/analytical/consultative articles in academic or industry journals and in drafting reports for advisory panels or regulatory bodies is an asset.

This knowledge is normally acquired through the successful completion of a Ph.D. in Economics or a MA or MS in Economics/ Applied Economics with 3-5 years of experience working with data and deep knowledge of economic theory.

Requires an applied background in economics in the business or academic sector at a level to fully understand the technical/economic parameters governing the energy industry and market place.

Requires experience in analyzing large data sets, using complex statistical and/or econometric modeling techniques.

Requires experience related to the electrical transmission, power system modeling and/or costing and pricing in a non-regulated environment, and /or assessing a market for inefficiencies, design and structural flaws and /or behaviors of Market Participants.

Minimum experience required is 4-6 year.

What\'s in it for you

• A comprehensive total rewards program, including best-in-class benefits and a flexible workplace
• A challenging, fast-paced and collaborative team environment, where your perspectives and experiences matter
• Leaders who support your growth and success through regular feedback and coaching
• The opportunity to work with some of the brightest minds in the industry

Deadline: Feb 20, 2024

For future reference, please ensure to save a copy of the job description as it will no longer be available once the posting closes.

At the IESO, we know that achieving great results depends on embracing diversity by attracting, developing and retaining people from a wide variety of backgrounds. We do this by ensuring our recruitment and advancement policies are fair and equitable, and by creating an accessible and inclusive environment - one that values every team member\'s unique skills and experiences and ensures they have the support they need to achieve their potential. If you require accommodation during the recruitment process, please let us know.

We thank you for your interest in a career at the IESO, but we will only contact those candidates selected for an interview.

Note: The successful candidate must be eligible to work in Canada and will be subject to a background check.

The IESO offers a hybrid work model program to most of our employees, based on business needs. Individuals participating in the program can work an average of three days per week remotely within Ontario. It also offers three flex weeks when individuals can work remotely within Ontario . When working in the office, you will be located at our Oakville location.

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