Market Risk Analyst; Gas & Power

Market Risk Analyst (Gas & Power)

BKV Corporation (NYSE: BKV) 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.

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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.

• Monitor daily 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 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.

• Track adherence to notional, tenor, volumetric, and stress limits.
• Identify and promptly elevate 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.

• 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.

• 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.

• 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 counter party exposure and market exposure.

• 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…