Climate Change: Cap-and-Invest Senior Market Monitor (Financial Examiner 4)

The Department of Ecology is hiring a Climate Change: Cap-and-Invest Senior Market Monitor within the Climate Pollution Reduction Program (CPRP). Location: Headquarters Office in Lacey, WA. Upon hire, you must live within a commutable distance from the duty station.

Schedule

This position is eligible for telework and flexible schedule options. A minimum of one day per week is required in the office. This position is expected to be in the office for a full workday every Tuesday as well as during up to nine Wednesdays per year when auctions occur (four are guaranteed to occur each year). Schedules are dependent upon position needs and are subject to change.

Responsibilities

The Senior Market Monitor role is part of the Auctions and Market Section of the Cap-and-Invest Program. This work is critical to the state's efforts to address climate change, decarbonize the economy, and prepare Washington for a leadership role in the green economy of the future.

• Manage allowance auctions and trading to ensure a free and fair cap-and-invest market.
• Develop proposed improvements to the market program based on performance, economic and policy analyses, and lessons learned from other jurisdictions.
• Produce reports and revenue forecasts related to the Cap-and-Invest program for the agency, the Governor’s office, and the Legislature.
• Represent Ecology in working with other state agencies, regulated industry, and national and international groups on issues related to the allowance auctions, market, and Cap-and-Invest program.

The primary emphasis of your role as Senior Market Monitor will be to complete market surveillance of participants in the cap-and-invest market through the following duties:

• Ensure Cap-and-Invest entities are in compliance with state and federal laws and industry standards in partnership with federal agencies (e.g., Internal Revenue Service, Securities and Exchange Commission, and Commodity Futures Trading Commission); market operators (e.g., the Intercontinental Exchange (ICE) and Nodal); and relevant state agencies (e.g., the State Attorney General’s office).
• Maintain contact with futures markets that list relevant futures contracts and use expert judgement to review futures and bilateral allowance and offset contracts.
• Apply knowledge of environmental markets and finance to closely review and monitor complex financial market participants as they join and participate in Washington's cap-and-invest market.
• Identify and propose regulatory options to minimize regulatory arbitrage across jurisdictions and markets.
• Regularly revisit the program's approach to market monitoring and seek out potential improvements.
• Evaluate financial records and documents across financial and other market entities that are connected through corporate association groups as defined by regulation.
• Maintain an up-to-date understanding of finance, commodity markets, and related fields and apply concepts from these fields in market monitoring work.

Requirements

Nine years of experience and/or education related to the duties of the position, which includes the following:

• Advanced Financial & Market Analysis – Ability to evaluate complex financial institutions, commodity markets, and futures products to identify risks, unusual activity, and trends that strengthen regulatory decision-making.
• Regulatory Interpretation & Compliance Oversight – Skilled in applying state and federal financial regulations to evaluate entity behavior, identify potential violations, and support compliance and enforcement activities.
• Market Surveillance & Risk Identification – Experienced in using financial monitoring tools, statistical methods, and market intelligence to detect manipulation, compliance concerns, and systemic risks across multiple markets.
• Analytical Method Development & Continuous Improvement – Ability to design, refine, and enhance analytical approaches and work processes that improve the team’s ability to assess complex financial entities and emerging market conditions.
• Confidential Information Management – Demonstrated competence in securely managing confidential and market-sensitive information and monitoring for improper use to maintain confidence in market operations.
• Risk-Focused Examination & Enforcement Support – Skilled in planning and conducting risk-based examinations in financial, securities, or commodity market settings to identify violations and contribute to enforcement recommendations.
• Complex Program & Market Integration Analysis – Ability to analyze how external climate programs, financial regulations, and market developments influence a regulated market and apply that insight to strengthen oversight strategies.

Education involving major study in fields including—but not limited to—finance, business administration, economics, accounting, policy, data science, and related fields.

Qualifications

Examples of how to qualify:

• 9 years of experience.
• 8 years of experience AND 30-59 semester or 45-89 quarter college credits.
• 7 years of experience AND 60-89 semester or 90-134 quarter college credits (Associate’s degree).
• 6 years of experience AND 90-119 semester or 135-179 quarter college credits.
• 5 years of experience AND a Bachelor’s degree.
• 3 years of experience AND a Master’s degree.
• 2 years of experience AND a Ph.D.

Special Requirements

A background check will be conducted, which may include criminal record history, fingerprinting, and credit history. Information from the background check will not necessarily preclude employment but will be considered in determining the applicant's suitability and competence to perform in the position.

Desired Qualifications

• Professional Financial Credentialing & Training – Relevant FINRA licenses (e.g., Series 7, Series 66) or other finance-related certifications (Chartered Financial Analyst, Certified Public Accountant, Project Management Professional, financial analysis, statistics, or market analysis) to support high-quality financial and market analysis.
• Applied Commodity & Financial Market Knowledge – Skilled in evaluating firm behavior or conducting analysis within financial or commodity markets (such as energy, fuels, metals, agriculture, or greenhouse gas markets).
• Climate & Greenhouse Gas Market Experience – Experienced in climate-related market mechanisms, mitigation strategies, or participation in environmental or greenhouse gas markets.
• Quantitative & Analytical Modeling Skills – Ability to use statistical analysis, mathematical methods, programming, or modeling tools to analyze market data, identify anomalies, and support advanced monitoring.
• Complex Project Leadership – Skilled in leading multifaceted analytical work, coordinating inputs from multiple contributors, and delivering clear, timely, high-quality technical products.

About the Climate Pollution Reduction Program

The Climate Pollution Reduction Program's (CPRP's) mission is to guide Washington to a net zero future by 2050. We implement policies that encourage businesses and individuals to reduce greenhouse gas emissions and build a clean energy economy. The Cap-and-Invest Group (CIG) is responsible for the implementation and operation of Washington’s Cap-and-Invest Program, which employs a market mechanism to reduce greenhouse gas emissions in a cost-effective manner.

As part of the Cap-and-Invest Program, businesses and entities are required to obtain and retire compliance instruments equivalent to their emissions. These compliance instruments, which include emissions allowances and offset credits, can be bought, sold, and traded. The market for these commodities began in January 2023, the first allowance auction was held in February of that year, and the proceeds of the auctions are invested by the state in projects to decarbonize transportation and other sectors of the economy, promote clean energy, and advance equity and environmental justice. The allowance auctions that the Auctions and Market Section have generated over $5 billion to date, providing a critical and necessary funding stream to support the achievement of Washington’s ambitious state-wide greenhouse gas reduction mandates.