Market Risk Analyst; Gas & Power

Market Risk Analyst (Gas & Power)

BKV Corporation (NYSE: BKV)

BKV Corporation is a growth‑driven energy company building the future of low‑carbon energy and reliable baseload power.

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 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.

• 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.

• 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 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.

• Bachelor’s degree in Finance, Economics, Engineering, Statistics, or a related technical field.

• 2–5+ 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.

• Advanced degree or certification (FRM, ERP, CFA) is a plus.

• Experience with ETRM systems (Endur or Allegro) highly beneficial.

• This position will be based in the BKV Office in Denver,…