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Probabilistic Modeling Jobs in New Jersey (NOW HIRING)

Virtusa Corporation

Architect (ATC)

Jersey City, NJ · On-site

$63.50 - $82.50/hr

Mapping out human-in-the-loop feedback mechanisms for continuous model optimization cycles. • Governance & Probabilistic SLAs Defining product success and performance guardrails for non ...

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Probabilistic Modeling information

What is probabilistic modeling?

Probabilistic modeling is a mathematical framework used to represent uncertain events or data by using probability distributions. Instead of giving a single outcome, it accounts for variability and randomness, allowing predictions and inferences even when information is incomplete or ambiguous. Probabilistic models are widely used in fields like statistics, machine learning, finance, and engineering to analyze data, make forecasts, and support decision-making under uncertainty.

What are the key skills and qualifications needed to thrive as a probabilistic modeler, and why are they important?

To thrive as a Probabilistic Modeler, you need a strong background in mathematics, statistics, and probability theory, often supported by a degree in applied mathematics, statistics, or a related field. Proficiency with programming languages like Python or R, and experience with statistical modeling tools and software such as TensorFlow or PyMC, are typically required. Strong analytical thinking, problem-solving abilities, and effective communication skills help translate complex models into actionable insights. These skills are vital for designing accurate models, interpreting uncertainty, and supporting data-driven decisions across various industries.

What are some common challenges faced by professionals in probabilistic modeling roles, and how can they be managed?

Professionals in probabilistic modeling often encounter challenges such as working with incomplete or noisy data, choosing the right model complexity, and ensuring model interpretability for stakeholders. Managing these challenges involves strong statistical knowledge, regular collaboration with domain experts, and effective communication to translate complex results for non-technical team members. Staying up-to-date with the latest tools and methodologies, and participating in peer reviews, can also help maintain model accuracy and reliability.

What is the difference between Probabilistic Modeling vs Data Scientist?

AspectProbabilistic ModelingData Scientist
Required CredentialsDegree in statistics, mathematics, or related fields; knowledge of probability theoryDegree in computer science, statistics, or related fields; programming skills
Work EnvironmentResearch-focused, often in analytics or data science teamsCross-functional teams, including business, engineering, and analytics
Industry UsageUsed in analytics, finance, healthcare, and research for modeling uncertaintyApplied across industries for data analysis, predictive modeling, and decision-making

Probabilistic Modeling focuses on developing models based on probability theory to understand uncertainty, while Data Scientists utilize a broader set of skills including programming, data analysis, and machine learning to extract insights from data. Both roles often overlap but serve different primary purposes within data-driven organizations.

What are popular job titles related to Probabilistic Modeling jobs in New Jersey?

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What job categories do people searching Probabilistic Modeling jobs in New Jersey look for?

The top searched job categories for Probabilistic Modeling jobs in New Jersey are:

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Cities in New Jersey with the most Probabilistic Modeling job openings:

Probabilistic Modeling jobs near you

Probabilistic Safety Analysis Engineer - SMR

Holtec International

Camden, NJ • On-site

$110K - $130K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 26 days ago

Holtec International rating

8.0

Company rating: 8.0 out of 10

Based on 16 frontline employees who took The Breakroom Quiz

179th of 491 rated machine equipment manufacturers

Job description

The Probabilistic Safety Analysis (PSA) Engineer II supports Holtec's advanced reactor development by contributing to risk-informed safety analysis efforts for the SMR-300 program. This role is part of a multidisciplinary engineering team responsible for supporting design, safety analysis, and licensing of next-generation nuclear technology. The position focuses on developing and maintaining PSA models and thermal-hydraulic analyses, while translating technical findings into actionable insights that support safe and effective reactor design.
Location: Camden, NJ (On-site) - Relocation assistance available!
Primary Responsibilities:
  • Develop and maintain PRA logic models and supporting thermal-hydraulic analyses used for risk quantification and licensing support
  • Build Level 1 and Level 2 PRA models for internal and external events across full power and shutdown operating conditions
  • Support thermal-hydraulic modeling (RELAP5-3D, MELCOR) to simulate core and containment response in severe accident scenarios
  • Assist in development and quantification of event trees and fault trees to evaluate key risk metrics such as core damage frequency (CDF) and large release frequency (LRF)
  • Support ongoing updates and maintenance of PSA models as SMR-300 design evolves
  • Apply PSA results to support risk-informed programs (e.g., RTNSS, D-RAP, 10 CFR 50.69 categorization)
  • Interface with design teams to communicate PSA insights and support design decision-making
  • Ensure consistency, accuracy, and quality across PSA analyses and deliverables
  • Contribute to technical documentation supporting regulatory and licensing activities

Requirements:
  • Bachelor's degree in Nuclear Engineering, Mechanical Engineering, or a related field
  • 4-6 years of experience in probabilistic risk assessment and/or thermal-hydraulic safety analysis within the nuclear industry
  • Familiarity with thermal-hydraulic behavior of light water reactors (LWRs)
  • Proficiency with PSA and modeling tools (e.g., CAFTA, SAPHIRE, RiskSpectrum, RELAP5-3D, MELCOR)
  • Working knowledge of ASME/ANS PRA Standards and NRC or IAEA risk guidance
  • Ability to interpret analysis results and communicate technical insights clearly
  • Strong technical writing, communication, and interpersonal skills
  • Ability to collaborate effectively within a multidisciplinary engineering team
  • Eligible to work under 10 CFR Part 810

A Generation Ahead by Design™
Investing in people who power the future.
We believe great work deserves great rewards. Our benefits go beyond the basics, reflecting our commitment to supporting your whole self...your health, your future, and your career growth. This includes:
Compensation:
  • Annual compensation based on skills and experience ranging from $110,000.00-$130,000.00

Benefits:
  • Industry-leading medical, dental, and vision coverage with a generous employer premium contribution and Day 1 eligibility!
  • FLEX Program - Hybrid work opportunities available for eligible roles, where business needs and role requirements allow
  • 401(k) retirement plan with up to a 5% company match and immediate vesting to support long-term financial security
  • Paid time off and 11 paid holidays to support rest, balance, and recharge
  • Wellness program offering rewards for participation in company-supported health initiatives
  • Commuter benefits supporting mass transit and commuter parking options
  • Company-paid life and AD&D insurance for added peace of mind
  • Education assistance to support continued education and professional growth
  • Employee support and voluntary benefits, including an Employee Assistance Program and optional coverage such as disability, legal, identity theft, and insurance programs
  • Benefits eligibility and offerings may vary based on role, location, and employment status

If you're driven to solve meaningful challenges and make a lasting impact, we invite you to build your career at Holtec-a generation ahead by design™.

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