Market Risk Analyst

Job Summary

The Market Risk Analyst plays a key role in analyzing and valuing a portfolio of commodity trading positions and financial derivatives tied to the natural gas market. This role sits at the intersection of trading, financial analysis, and risk management, providing insight into how market movements impact the value and risk profile of TMV’s natural gas trading portfolio.

In this position, you will work closely with traders and leadership to ensure transactions are accurately valued, market inputs are properly maintained, and risk exposures are clearly understood. The role combines structured daily and regular reporting responsibilities with deeper analytical work focused on investigating complex transactions, improving valuation methodologies, and supporting informed trading decisions.

This is a fast-paced and intellectually challenging environment that is well suited for individuals who enjoy solving complex analytical problems, working with large datasets, and applying statistical and financial concepts to real-world markets.

Why Market Risk?

Market Risk brings together finance, statistics, economics, and accounting. It’s a great opportunity for someone seeking a non-traditional path in finance or accounting within the exciting and dynamic energy industry. Analysts will gain exposure to real-time trading markets and complex financial instruments. It is an excellent opportunity for individuals interested in developing expertise in commodity markets, derivatives valuation, and quantitative risk analysis.

Location: This position is onsite in Omaha, NE.

Essential Job Functions

Much of the analytical work in this role requires judgment due to complexities of deal structures and derivative valuation. The Market Risk Analyst is expected to develop supportable conclusions, clearly explain the assumptions behind those conclusions, and communicate the rationale to traders and senior leadership.

Analytical Investigation & Judgment

• Develop and support independent valuation conclusions for complex or non-standard deal structures
• Investigate unusual valuation results or discrepancies, determine root causes, and recommend corrective action
• Research market developments and pricing methodologies that affect valuation accuracy

Portfolio Valuation & Risk Analysis

• Analyze and value a portfolio of complex physical and financial natural gas transactions, including derivative instruments
• Ensure valuation models accurately reflect the economic structure of transactions
• Monitor and explain daily changes in portfolio valuation driven by market movements

Market Data & Pricing Inputs

• Maintain and update market data used in valuation models, including forward price curves, volatility assumptions, locational basis, and other key inputs
• Research and validate external market data sources to ensure accuracy and reliability
• Structure and maintain the underlying curve and market data sets, including database organization and management

Trading Support

• Partner with trading teams to confirm deal economics and validate recently executed deals are captured correctly and accurately as well as validate transaction pricing
• Provide quantitative support and analysis related to market data, pricing assumptions, and deal structures
• Provide actionable insight into the changes observed in the forward natural gas portfolio – including changes in the underlying market as well as highlight risks in the portfolio

Reporting and Communication

• Prepare and present valuation and risk analysis to senior leadership
• Respond to ad hoc questions related to portfolio risk, valuation methodology, or market impacts

Process and Model Improvement

• Identify opportunities to improve valuation methodologies, analytical tools, and reporting processes
• Contribute to the development and refinement of internal valuation models and analytics

Team Development

• Collaborate with and help train junior analysts as needed
• Contribute to a culture of curiosity, analytical rigor, and continuous improvement
• Other duties as assigned

Success in This Role

We value teamwork, curiosity, diverse perspectives, and the resilience to thrive in a challenging environment as they are essential to driving innovation and delivering excellence in our field.

Successful analysts in this role tend to be:

• Team Oriented
• Highly analytical, with strong attention to detail and intellectual curiosity
• Able to investigate complex problems and develop well-supported conclusions
• Comfortable working in a fast-paced, deadline-driven environment
• Effective at communicating technical concepts to a range of audiences
• Motivated to continuously improve models, processes, and analytical approaches

Basic Requirements

• Bachelor’s degree in accounting, finance, economics, statistics, engineering, or another quantitative discipline
• 2+ years of experience in relevant field with exposure to work requiring advanced analytical, technical and/or problem-solving skills, such as financial analysis or modeling, mark to market accounting, derivatives valuation, or trading analytics
• Interest in learning derivatives pricing concepts, including forward curves, volatility, and optionality
• Strong analytical and quantitative problem-solving skills, including the ability to reach and support a conclusion
• Advanced Excel skills including complex formulas, pivot tables, and data analysis
• Ability to interpret large datasets and translate analysis into clear insight
• Strong written and verbal communication skills
• Dependable, reliable and predictable attendance is required

Preferred Requirements

• Experience valuing physical or financial commodity transactions
• Familiarity with natural gas market structure, including locational basis, storage optionality, seasonal spreads, and transportation
• Exposure to derivative pricing concepts, including forward curves, volatility, and optionality
• Experience supporting trading desks, risk management teams, or valuation functions
• Experience with SQL, Power BI and VBA for data extraction and model automation
• Master’s degree in a relevant quantitative field

Employee Benefits

At Tenaska we care about the wellbeing of our employees and their families. That’s why we offer our employees a comprehensive benefit package. Benefits included below:

• Health, dental, vision, disability, and life insurance
• Excellent 401(k) plan
• Incentive-based, competitive salary packages
• Health/dependent care flex accounts
• Tuition assistance
• Long-term disability coverage
• Adoption benefits
• Employee assistance program
• Paid vacations and holidays
• Generous sick leave
• Charitable giving program
• Paid maternity/paternity leave
• Wellness programs

Applicants must be authorized to work for any employer in the U.S.  The Company is not able to take over sponsorship of an employment visa at this time for this position or commit to doing so in the future for individuals with current authorization to work via, for example, CPT or OPT, and would need sponsorship in the future.