Gas Risk Analyst

Nscale • Houston, TX

8d • $100,000 - $140,000 • Remote

About The Position

We are seeking a Gas Risk Analyst to support natural gas market analysis, price risk quantification, and hedging strategy for the Monarch Compute Campus. As Monarch scales to multi-gigawatt operations, disciplined commodity risk management is essential to delivering predictable economics for Nscale and our customers. Based in Houston and reporting into Nscale's energy team, you will partner closely with the Gas Supply Manager, Trading, Finance, and Operations functions to model exposures, run scenarios, support hedge execution, and produce the reporting our leadership and counterparties rely on.

Requirements

• 4+ years of experience in commodities risk, market analysis, or trading support — ideally natural gas.
• Strong quantitative and analytical skills; proficient in Python, SQL, and Excel; R or Power BI a plus.
• Working knowledge of ETRM systems (Allegro, Endur, ZE) and US gas market structure.
• Familiarity with VaR, stress testing, and standard hedging instruments (swaps, futures, options).
• Excellent attention to detail and ability to communicate complex analyses clearly to non-technical stakeholders.
• Bachelor's degree in finance, economics, engineering, mathematics, or related quantitative field.

Nice To Haves

• Relevant certifications (CFA, FRM, ERP).

Responsibilities

• Track Henry Hub, Appalachian basis points (Dominion South, TETCO M2, TGP Z4), and regional supply/demand fundamentals.
• Produce weekly and monthly market commentary for internal stakeholders.
• Maintain forward curves, basis differentials, and seasonality views supporting hedging decisions.
• Build and maintain exposure reporting across physical, financial, and basis positions for Monarch.
• Run VaR, stress testing, and scenario analysis on the gas book.
• Model PnL impact of supply disruptions, weather events, and basis blowouts.
• Support development and execution of the Monarch hedging strategy (fixed-price, basis, swaps, options) in coordination with Supply, Trading, and Finance.
• Model hedge effectiveness and provide pre-trade analytics.
• Track hedge accounting documentation requirements and partner with Finance on reporting.
• Monitor counterparty credit exposure across physical and financial trading.
• Produce daily, weekly, and monthly risk reports for senior leadership.
• Support audits, control reviews, and regulatory reporting (Dodd-Frank, EMIR-equivalent).
• Maintain and improve risk reporting in ETRM and analytical systems.
• Build Python / SQL / Power BI tooling to automate routine reporting and enable deeper analytics.
• Continuously refine risk methodologies and assumptions.

Benefits

• Competitive base salary with annual reviews
• Performance bonus and long-term incentive eligibility
• Comprehensive medical, dental, and vision coverage
• 401(k) retirement plan with company match
• Generous PTO plus US federal holidays
• A career-defining opportunity to be an early member of one of the fastest growing AI infrastructure companies in the world
• A human-first approach: We treat you as humans first. Our flexible workplace trusts Nscalers to deliver, giving you the autonomy needed to get the job done.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level