Market Risk Analyst (Gas & Power)

Market Risk Analyst (Gas & Power)

BKV Corporation is a forward-thinking, growth-driven energy company building the future of low-carbon energy and reliable baseload power. Headquartered in Denver, Colorado, we are the largest natural gas producer by gross operated volume in the Barnett Shale and we're just getting started.

At BKV, we don't just operate assets we build integrated solutions. Our end-to-end, closed-loop energy platform spans upstream production, midstream infrastructure, natural gas-fired power generation, and carbon capture, utilization, and storage (CCUS). This differentiated model allows us to solve our customers' toughest energy challenges while meeting growing power demand and advancing a carbon-neutral future. But what truly sets us apart is our people.

We are a fast-paced, high-performance team of go-getters who thrive on challenge and think beyond convention. We push the envelope on innovation, continuously optimizing and scaling our platform to drive sustainable growth and long-term, risk-adjusted shareholder value. If you're energized by big goals, bold ideas, and the opportunity to build something transformational, you'll feel right at home here.

At BKV, you won't just contribute you'll lead, create, and shape the future of energy.

Job Summary

The Market Risk Analyst (Gas & Power) plays a critical role in monitoring, analyzing, and reporting market risk exposures across the company's physical and financial natural gas and power trading portfolios. This role ensures trading activity adheres to approved risk limits, provides independent risk oversight, and delivers timely insights to support trading desks, risk leadership, and executive management. The position interfaces closely with Commercial, Accounting, Credit, Treasury, and Audit. Demonstrates integrity, accountability, and transparency; upholds BKV standards, values, and culture.

Responsibilities

• Monitor daily mark-to-market (MTM) results, positions, and exposure for natural gas and power portfolios across hubs, zones, ISOs/RTOs, and regional basis markets.
• Produce and distribute risk reports that capture exposures by location, product, tenor, and strategy, including physical positions, financial derivatives, hedging instruments, etc.
• Validate forward curves (price, volatility, discounting, etc.) for natural gas (e.g., Henry Hub, regional basis) and power (e.g., ERCOT, PJM, MISO, SPP, CAISO).
• Analyze P&L drivers including price moves, shape changes, load forecasts, generation outages, and congestion patterns.

Limit Monitoring & Governance

• Track adherence to notional, tenor, volumetric, and stress limits.
• Identify and promptly escalate limit breaches or emerging risks in accordance with the Market Risk Policy and Corporate Hedge Policy.
• Support updates to market risk limits as portfolio strategies evolve.

Analytics & Modeling

• Drive continuous improvement initiatives, including automation and process implementation efforts.
• Enhance risk models for stress tests and scenario analysis.
• Review model assumptions and valuation methodologies, conduct back-testing and periodic model calibrations.
• Coordinate with team and IT to improve analytical tools, data pipelines, and risk system functionality.

Market Insight & Portfolio Analysis

• Monitor market fundamentals, including weather, load forecasts, pipeline constraints, storage dynamics, generation mix, and transmission congestion.
• Analyze how fundamental drivers impact portfolio exposures, hedge effectiveness, and optionality.
• Support evaluation of new trading strategies, structured transactions, asset-backed deals, and retail transactions from a market risk perspective.

Risk Controls & Compliance

• Ensure compliance with the Market Risk Policy, Corp Hedge Policy, and other risk frameworks.
• Support internal and external audits, model validations, and inquiries.
• Collaborate with Credit Risk to provide a combined view of counterparty exposure and market exposure.

Required Skills

• Proficiency in Excel (advanced), SQL, and Power BI.
• Solid understanding of scenario analysis, curve construction, valuation concepts, and VaR methodologies.
• Strong communication skills with the ability to explain complex topics clearly to traders, risk leaders, and executives.
• High attention to detail and the ability to operate effectively and independently in a fast-paced environment.
• Collaborative mindset with the ability to work cross-functionally.
• Ability to work independently and as part of a team.
• Strong interpersonal, collaboration, and communication skills.
• Advanced organization and prioritization skills.
• Demonstrated cognitive and problem-solving skills.
• Growth mindset with a demonstrated ability to innovate, embrace change, and have grit.

Education & Experience

• Required
• Bachelor's degree in Finance, Economics, Engineering, Statistics, or a related technical field.
• 25+ years of market risk, quantitative analysis, trading analytics, or related experience in natural gas and/or power markets.
• Strong understanding of physical and financial products.
• Preferred
• Advanced degree or certification (FRM, ERP, CFA) is a plus.
• Experience with ETRM systems (Endur or Allegro) highly beneficial.

Physical Demands and Working Conditions

• Location
• This position will be based in the BKV Office in Denver, Colorado or Houston, Texas and may be eligible for hybrid working arrangements.
• Some travel (up to 10%) may be required.
• Working Conditions
• Primarily office-based with standard business hours; extended hours may be required depending on business needs. May occasionally be exposed to distracting noise while sharing office space with others.
• Physical Demands
• Ability to sit for extended periods of time.
• Ability to operate a computer, telephone, and other office equipment.
• Ability to occasionally lift, carry, push, or pull up to 25 pounds.
• Ability to communicate effectively, both verbally and in writing.

Compensation & Benefits

• Competitive salary, commensurate with experience. Pay Range $70,000 - $128,000
• Performance-based bonus eligibility.
• Comprehensive health, dental, and vision insurance plans.
• Retirement savings plan with 6% employer match.
• Paid time off and 12 company holidays per year.
• Professional development opportunities and tuition reimbursement.
• Employee Assistance Program (EAP) and wellness initiatives.

Equal Employment Opportunity & ADA Statement

BKV Corporation is an Equal Opportunity Employer. We do not discriminate because of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, genetic information, veteran status, or any other legally protected status.

BKV Corporation is committed to providing reasonable accommodations for qualified individuals with disabilities in accordance with the Americans with Disabilities Act (ADA). Applicants requiring accommodation during the hiring process may contact Human Resources.