Senior Strategist, North American Power and Gas

As a Senior Strategist on DRW's US Power and Natural Gas trading team, you will focus on the valuation, structuring, bidding, and risk management of energy transactions, particularly full-requirements and load-following opportunities across US electricity markets. You will combine deep knowledge of physical power markets with strong quantitative modeling skills and sound commercial judgment, working closely with traders, developers, and other quantitative researchers to build pricing and risk frameworks for complex load obligations.

What you'll do

• Develop and maintain quantitative models for US power load auctions, full-requirements transactions, and load-following products
• Value complex load obligations by modeling demand, weather sensitivity, hourly shape, customer migration, basis, congestion, losses, capacity, ancillary services, renewable obligations, and other embedded risks
• Produce bid recommendations and scenario analyses for utility, municipal, cooperative, and commercial and industrial load opportunities
• Design hedge strategies across power, natural gas, capacity, transmission, and environmental products
• Work alongside traders to translate market views and portfolio constraints into executable bidding and risk-management strategies
• Develop tools for portfolio valuation, position reporting, stress testing, and ongoing performance attribution
• Research structural changes in organized power markets and evaluate their implications for load pricing and hedging
• Improve market data, forecasting, optimization, and analytical infrastructure in partnership with software engineers and data specialists
• Communicate model assumptions, limitations, and commercial implications clearly to trading and senior leadership

What you bring

• At least five years of relevant experience in US power trading, quantitative research, structuring, or portfolio management
• Direct experience pricing or managing load auctions, full-requirements contracts, or load-following portfolios
• A strong understanding of US wholesale power markets, including energy, congestion, capacity, ancillary services, transmission, and environmental products
• Solid experience in Python or a similar language
• A strong foundation in statistics, probability, optimization, time-series analysis, and Monte Carlo simulation
• A bachelor's, master's, or doctoral degree in a quantitative discipline such as mathematics, statistics, engineering, computer science, physics, economics, or financial engineering
• Strong commercial judgment, intellectual curiosity, and the ability to work effectively in a fast-paced trading environment
• Clear written and verbal communication skills

What we offer

• Annual base salary of $150,000 to $250,000 depending on your experience, qualifications, and relevant skill set
• Annual discretionary bonus eligibility
• Comprehensive employee benefits including group medical, pharmacy, dental and vision insurance, 401k with discretionary employer match, short and long-term disability, life and AD&D insurance, health savings accounts, and flexible spending accounts

About DRW

DRW is a diversified trading firm with over 30 years of experience, headquartered in Chicago with offices throughout the US, Canada, Europe, and Asia. The firm trades a variety of asset classes including Fixed Income, ETFs, Equities, FX, Commodities and Energy across all major global markets, and has expanded into real estate, venture capital, and cryptoassets using its own capital and trading at its own risk.