Market Risk Manager

Overview

Our core values — Stewardship, Character, Collaborate, Learn, Disrupt — are the lens through which we evaluate every business decision. As a dynamic, growing company that offers competitive compensation and benefits, our employees are our most valued assets and the foundation of Expand's performance among our E&P competitors. We seek applicants from all backgrounds to ensure we get the best, most creative talent on our team.

We encourage applicants who meet any combination of our requirements and strive to hire people from a wide variety of backgrounds, not just because it’s the right thing to do, but because it makes our company stronger.

Job Summary

We are seeking a Quantitative Risk Manager to develop, enhance, and govern quantitative models used to value, risk assess, and explain exposures across natural gas, LNG, power, and related structured/optional physical and financial transactions in a commodity trading business. The role will partner closely with trading, structuring, origination, middle office, risk, technology, and finance to deliver decision-quality analytics, robust model governance, and scalable reporting.

This role is designed for a candidate who combines cross-commodity quantitative rigor in their quantitative risk leadership with practical energy trading valuation and risk-control orientation.

• Quantitative Modeling, Valuation, and Analytics
• Develop and maintain quantitative models for valuation, exposure measurement, and risk assessment across physical and financial natural gas, LNG, and power portfolios
• Build and enhance models for optional and structured transactions, including storage, transport, tolling, heat-rate optionality, basis/spread structures, swing optionality, and other asset-backed or logistics-driven exposures
• Support mark-to-market, fair value, forward curve construction, volatility surfaces, scenario analysis, and P&L attribution for complex positions and portfolios
• Design and improve analytical frameworks for VaR, Expected Shortfall, stress testing, backtesting, component risk, sensitivity analysis, and scenario analysis

• Trading and Commercial Support
• Partner directly with traders, originators, and structurers to evaluate transactions, challenge assumptions, explain model outputs, and support hedging and optimization decisions
• Translate market views, deal structures, and operational realities into actionable analytics that support commercial decisions across gas, LNG, and power
• Provide analysis of risk drivers, spread movements, optionality value, and changes in valuation or risk metrics to risk committees and senior leadership

• Risk Framework, Controls, and Governance
• Strengthen the quantitative underpinnings of the firm’s market risk framework, including model documentation, assumptions governance, testing standards, and auditability
• Lead or support model review, model validation readiness, model governance, and remediation of model limitations and control gaps
• Ensure analytics and reporting align with board-approved risk tolerances, internal policies, and evolving control requirements

• Systems, Data, and Automation
• Build or enhance scalable analytics in Python and related tools to automate recurring calculations, improve transparency, and reduce manual risk processes
• Work with ETRM/CTRM systems and market data infrastructure to ensure robust integration of curves, positions, valuation logic, and risk outputs. Experience with Endur, Allegro, ZEMA, or comparable platforms is valuable
• Create reports, dashboards, and visualizations that communicate complex quantitative results clearly to both technical and non-technical stakeholders

• Job Specific Skills
• Advanced Python skills for quantitative analytics, risk engines, data pipelines, and automated reporting; familiarity with pandas, Num Py, Sci Py, and production-quality coding practices
• Additional programming capability in SQL, C#, C++, VBA, or similar languages
• Strong understanding of probability, statistics, stochastic modeling, option pricing, numerical methods, Monte Carlo simulation, and time-series analysis
• Experience with data visualization and reporting tools and the ability to present…