Senior Quantitative Modeller/Developer - Stochastic Simulations in Power Markets

About Baringa Baringa is a global consulting firm that partners with leaders to drive change and create value. With deep industry expertise, and enabled by advanced technology, the firm helps clients to deliver with greater confidence and certainty. With over 2,000 people across the UK, Europe, North America, Asia and Australia, the firm combines global insight with local understanding. The firm works across energy and resources, financial services, government and public sector, consumer products and retail, pharmaceuticals and life sciences, manufacturing, and technology, media and telecoms, with capabilities spanning strategy, transformation and operational excellence – all powered by advanced technology, data, AI and digital innovation. Clients value Baringa’s collaborative approach and the way its teams integrate seamlessly – all working with a shared understanding of what matters most. The firm is known for its kind, curious experts who listen closely and care deeply about client success as they help clients transform energy markets, modernise financial platforms, expand telecoms and digital networks through advanced data analytics, enable digital services in government, and unlock growth in consumer sectors. Certified as a Great Place to Work around the world, Baringa has been recognised by the Financial Times in 22 categories of its UK Leading Management Consultants rankings, and by Forbes for four consecutive years as one of the World’s Best Management Consulting Firms. Our Energy Products practice are looking for an experienced Senior Quantitative Modeller/Developer to join the team - Stochastic Simulations in Power Markets. The CORAL team within our Energy Products practice develops the modelling platform that underpins Baringa's market analysis, valuation, and optimisation capabilities across European energy markets. We build production-grade software used by our consultants, analysts, SaaS developers, and clients to model power markets, simulate market prices, optimise assets, and deliver long-term market insights. Our work spans statistical and stochastic models, optimisation, internal/external data, and AI-enabled tooling. We combine software engineering, quantitative methods, and energy market expertise to create scalable solutions that support both advisory engagements and productised offerings across Baringa globally. As our modelling capabilities continue to expand, we are looking for an experienced quantitative modeller to lead the development and evolution of our stochastic simulation framework and associated market modelling methodologies. What you will be doing - Lead the design, development, calibration, and validation of Baringa's stochastic simulation models across power, gas, LNG, and other commodity markets. - Develop advanced modelling methodologies including mean-reverting jump diffusion (MRJD), two-factor, and multi-factor stochastic models. - Improve the representation of commodity price behaviour, volatility, market regimes, and structural market change within our modelling framework. - Combine liquid horizon market data with Baringa's long-term fundamental market outlooks to create stochastic simulations that are consistent with our scenario-based simulations. - Research and implement new quantitative approaches for modelling uncertainty, asset valuation, risk assessment, and market behaviour. - Work closely with market modelling specialists, advisory teams, and clients to ensure models remain relevant, credible, and aligned with commercial decision-making. - Partner with software engineers to ensure modelling methodologies are implemented as robust, maintainable, and scalable production software. - Drive model calibration, validation, benchmarking, and ongoing performance monitoring. - Communicate complex quantitative concepts clearly to technical, commercial, and executive audiences. - Contribute to Baringa's thought leadership in quantitative energy market modelling and stochastic simulation. Your skills and experience Essential - Significant experience developing and applying stochastic simulation models within power, gas, commodity, or financial markets. - Strong understanding of one-factor, two-factor, and multi-factor stochastic processes and their practical application. - Experience designing, calibrating, validating, and maintaining quantitative models used in commercial environments. - Knowledge of European power markets, trading, and market fundamentals. - Understanding of spot, futures, OTC, and derivative markets and their application to valuation and risk analysis. - Experience integrating market data and statistical techniques into practical forecasting, valuation, or simulation frameworks. - Strong programming skills in Python, including development of maintainable production-quality code. - Familiarity with software engineering best practices including testing, version control, code review, and collaborative development. - Ability to explain complex modelling concepts to both technical and non-technical audiences. - Strong stakeholder management skills and experience working across modelling, advisory, engineering, and client-facing teams. - MSc or PhD in Quantitative Finance, Physics, Mathematics, Statistics, Econometrics, Engineering, Computer Science, or a closely related quantitative discipline. Desirable - Experience modelling multiple commodities including power, renewables, gas, LNG or carbon. - Experience with option pricing, risk analytics, portfolio valuation, or trading analytics. - Experience developing economic scenario generators, stochastic forecasting frameworks, or Monte Carlo-based simulation platforms. This aligns particularly well with backgrounds such as energy trading analytics and scenario generation. - Experience applying machine learning or statistical learning techniques alongside traditional stochastic modelling approaches. - Experience taking quantitative research from prototype through to production implementation. - Exposure to asset valuation, structured transactions, risk management, or energy trading. - Experience mentoring or leading other quantitative analysts and modellers. What a career at Baringa will give you Putting People First. Baringa is a People First company and wellbeing is at the forefront of our culture. We recognise the importance of work-life balance and flexible working and provide our staff amazing benefits. Some of these benefits include: - Generous Annual Leave Policy: We recognise everyone needs a well-deserved break. We provide our employees with 5 weeks of annual leave, fully available at the start of each year. In addition to this, we have introduced our 5-Year Recharge benefit which allows all employees an additional 2 weeks of paid leave after 5 years continuous service. - Flexible Working: We know that the ‘ideal’ work-life balance will vary from person to person and change at different stages of our working lives. To accommodate this, we have implemented a hybrid working policy and introduced more flexibility around taking unpaid leave. - Corporate Responsibility Days: Our world is important to us, so all our employees get 3 every year to help social and environmental causes and increase our impact on the communities that mean the most to us. - Wellbeing Fund: We want to encourage all employees to take charge and prioritise their own wellbeing. We’ve introduced our annual People Fund to support this by offering every individual a fund to support and manage their wellbeing through an activity of their choice. - Profit Share Scheme: All employees participate in the Baringa Group Profit Share Scheme so everyone has a stake in the company’s success. Diversity and Inclusion We are proud to be an Equal Opportunity Employer. We believe that creating an environment where everyone feels a sense of belonging is central to our culture and that diversity is paramount to driving creativity, innovation, and value for our clients and for our people. An award-winning workplace You can be a part of our ‘Great Place to Work’ – with our commitment to women and well-being in the workplace for all. Click here to see some of our recent awards and how we’ve achieved this. Using business as a force for good. We maintain high standards of environmental performance and transparency, which can be seen through our commitment to Net Zero with our SBTI-verified Scope 1, 2 and 3 emissions reduction targets and our support of the Better Business Act. We report our progress publicly and ensure that we are also externally assessed and scored through organisations like CDP and EcoVadis - helping us to continually identify where we can improve. We have a long legacy of supporting the communities in which we work, and offer a variety of ways to contribute, by putting people first and creating impact that lasts. Our Corporate Social Responsibility (CSR) agenda is about giving back to the communities in which we live and work by sharing our skills, talent and time. In essence, we aim to empower and encourage everyone in the firm to contribute to the things we care about, and support registered charities and organisations with a clear social or environmental purpose to increase the positive impact they can have. Join us All applications received will be reviewed by a member of our Talent Acquisition team. We never rely solely on automated screening or AI tools to make hiring decisions. Your application will be considered for employment without regard to race, ethnicity, religion, gender, gender identity or expression, sexual orientation, nationality, disability, age, faith or social background. We do not filter applications by university background and encourage those who have taken alternative educational and career paths to apply. We would like to actively encourage applications from those who identify with less represented and minority groups. We operate an inclusive recruitment process, ensuring reasonable adjustments where needed. Please contact a member of our Recruitment Team to discuss further. Baringa Privacy Notices For UK & EU Your personal data will be retained by Baringa for up to two years, in accordance with our UK Recruitment Privacy Notice / EU Recruitment Privacy Notice, to evaluate your application and meet our legal and reporting obligations. In line with the General Data Protection Regulation (GDPR), you have the right to request access to, rectification, or erasure (subject to legal limitations) of your personal data. For more information, please contact us at [email protected] For the USA Your personal data may be retained by Baringa for up to two years, as outlined in our Recruitment Privacy Notice (AMER & APAC), to support the recruitment process and internal reporting requirements. Where applicable, and in accordance with relevant federal and state laws, you may have the right to request access to or correction of your personal information. For further details, please contact [email protected] For Australia & Singapore Your personal data will be retained by Baringa for up to two years, in accordance with our Recruitment Privacy Notice (AMER & APAC), to assess your application and meet applicable reporting and legal obligations. In line with the Australian Privacy Act and Singapore’s Personal Data Protection Act (PDPA), you may have rights to access, correct, or request limited deletion of your personal data. For more information, please contact us at [email protected]