D'Arcy Weil is representing a major energy trading operation managing complex portfolios across wholesale power, gas, and environmental markets. They operate sophisticated trading strategies spanning physical and financial instruments, generation assets, and derivative products, supported by advanced quantitative frameworks and analytics platforms.
The business is enhancing its quantitative capability to support trading strategies, improve pricing accuracy, and develop sophisticated risk analytics. They need a quantitative analyst to build models, develop analytics frameworks, and provide quantitative support to trading and risk teams.
They are seeking a Quantitative Analyst to develop pricing models, risk analytics, and quantitative methodologies for energy trading operations. You'll work closely with traders, risk managers, and technology teams to build models that support trading decisions, improve valuations, and enhance risk measurement.
The Role
You'll develop and maintain quantitative models supporting energy trading across power, gas, and environmental markets. This means building pricing models for complex instruments, developing risk analytics frameworks, and providing quantitative insights that inform trading strategies and risk management.
You'll work embedded with trading and risk teams, translating business requirements into quantitative solutions whilst ensuring model accuracy, validation, and continuous improvement. Operating as both technical specialist and business partner, you'll balance theoretical rigour with practical applicability.
This isn't a pure academic research role - you'll be solving real trading and risk problems with models that need to work in production environments.
What You'll Do Develop Pricing Models
* Build and maintain pricing models for power, gas, and environmental certificate derivatives including forwards, swaps, options, and structured products
* Develop forward curve construction methodologies and price forecasting models
* Create valuation models for generation assets, physical contracts, and trading portfolios
* Implement volatility surface calibration and modelling frameworks
* Build correlation models across commodities, regions, and time periods
* Ensure models accurately capture market dynamics, optionality, and risk factors
* Conduct model validation, backtesting, and performance analysis
Provide Risk Analytics
* Develop VaR methodologies including historical simulation, Monte Carlo, and parametric approaches
* Build stress testing and scenario analysis frameworks
* Create risk metrics and analytics for trading portfolios
* Develop Earnings@Risk and economic capital models
* Design sensitivity analysis frameworks (Greeks, basis risk, curve risk)
* Support independent price verification and benchmarking processes
* Provide quantitative analysis for large transactions and portfolio decisions
Support Trading & Risk Teams
* Work closely with traders to understand market dynamics and model requirements
* Provide quantitative support for trading strategy development and optimisation
* Collaborate with risk teams on risk framework development and enhancement
* Explain model outputs, assumptions, and limitations to non-technical stakeholders
* Conduct ad-hoc quantitative analysis supporting trading and risk decisions
* Develop tools and analytics that improve trading efficiency and decision‐making
Drive Technology & Implementation
* Work with technology teams to implement models in trading and risk systems
* Ensure models integrate effectively with market data, trading platforms, and risk systems
* Develop automated analytics processes and reporting frameworks
* Contribute to system selection and enhancement initiatives
* Write clear technical documentation for models and methodologies
* Support user acceptance testing and system validation
Continuous Improvement
* Monitor model performance and identify opportunities for enhancement
* Research and implement industry best practices in quantitative finance and energy trading
* Stay current with market developments, regulatory changes, and emerging methodologies
* Contribute to development of quantitative capability and knowledge sharing
* Collaborate with regional and global quantitative teams
What You'll Need Technical Expertise:
* Tertiary qualification in mathematics, statistics, physics, engineering, quantitative finance, or related discipline (honours or postgraduate preferred)
* 3-7 years' experience in quantitative analysis, preferably in energy trading, commodities, or financial markets
* Strong understanding of derivative pricing theory and financial mathematics
* Experience with stochastic modelling, time series analysis, and statistical methods
* Knowledge of energy markets including power, gas, and environmental certificates
* Familiarity with power market fundamentals including generation dispatch, network constraints, and spot price formation
* Understanding of options pricing, volatility modelling, and risk‐neutral valuation
* Proficiency in programming languages (Python, R, MATLAB, C++) for quantitative modelling
* Experience with numerical methods, optimisation algorithms, and Monte Carlo simulation
Market & Trading Knowledge:
* Understanding of wholesale energy markets, particularly Australian NEM
* Knowledge of physical and financial trading instruments including futures, swaps, options, and CFDs
* Familiarity with generation assets, fuel markets, and renewable energy dynamics
* Understanding of market risk concepts including VaR, Greeks, and stress testing
* Awareness of regulatory frameworks and market structures
Analytical & Problem‐Solving:
* Strong analytical and quantitative problem‐solving skills
* Ability to translate complex business problems into quantitative frameworks
* Critical thinking to assess model assumptions, limitations, and appropriate use
* Detail‐oriented with rigorous approach to validation and testing
* Capable of explaining complex quantitative concepts to non‐technical audiences
Systems & Tools:
* Experience with trading and risk management systems (e.g., Allegro, Endur, Brady, or similar)
* Proficiency in data analysis and visualisation tools
* Understanding of databases, SQL, and data management
* Familiarity with version control and software development practices
* Experience with cloud platforms (AWS, Azure) advantageous
Collaboration & Communication:
* Strong communication skills with ability to engage technical and non‐technical stakeholders
* Collaborative approach working across trading, risk, technology, and operations teams
* Self‐motivated with ability to manage multiple priorities
* Comfortable in fast‐paced trading environment
* Willingness to learn energy markets and trading operations
What Makes You Right For This
You have strong quantitative foundations - whether from academic background, financial markets, or energy trading - and you're excited to apply them to real trading problems. You understand derivative pricing theory but you're equally interested in understanding market fundamentals that drive energy prices.
You're comfortable building models in code, not just spreadsheets. You write clean, documented code and you understand the difference between a research prototype and a production model. You've worked with market data, dealt with data quality issues, and built robust analytics that work in real environments.
You're naturally curious about energy markets - you want to understand why power prices spike, how generation assets create optionality, and what drives basis risk between regions. You see quantitative analysis as a tool to understand markets, not an end in itself.
You're a strong communicator who can explain model assumptions and outputs to traders and risk managers. You understand that the best model is one that people trust and use, not the most mathematically sophisticated one. You're comfortable having your models challenged and you welcome feedback that improves them.
You thrive in collaborative environments where you work closely with traders, risk managers, and technology teams. You see quantitative analysis as a service function supporting better trading and risk decisions.
Apply online with a CV and brief cover note addressing:
* Your quantitative modelling experience and technical skills
* Examples of models or analytics you've developed
* Your understanding of energy markets or willingness to learn them
* Why you're interested in energy trading quantitative analysis
For Further Information Contact
Ivan Pignataro | Director
D'Arcy Weil
T: +61 3 9999 7409 M: 0416 507 856 E: ivan@darcyweil.com
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