Market Risk Associate

Conduit Services LLC•Houston, TX

3d•Hybrid

About The Position

Conduit Power is on a path to supplement our Nation’s power generation system with reliable and dispatchable generation in ways that reduces carbon footprint and accelerates the transition to clean, renewable energy. We are seeking a highly motivated and detail-oriented Market Risk Associate to join a dynamic owner operator of power generation assets. This role focuses on natural gas power generation for both merchant power within the ERCOT market and industrial behind-the-meter power generation. The ideal candidate will focus primarily on identifying, quantifying, and monitoring the commercial, market, and financial risks that affect each power project’s health and stability, while also supporting financial planning, analysis, reporting, and project-based financial modeling.

Requirements

Bachelor's degree in finance, accounting, economics, or a related field.
3 - 7 years of experience in finance required, with experience in power generation, power trading, or ERCOT market operations preferred; direct ERCOT nodal-market or middle-office commodity-risk experience strongly preferred.
Familiarity with CTRM/ETRM and FP&A planning systems (NetSuite, OATI, or similar)
Advanced Microsoft Excel, plus hands-on quantitative modeling (probability distributions, Monte Carlo simulation, and VaR/GMaR methodology) and data tooling such as SQL, Power Query, or Python/R.
Experience with financial modeling, scenario analysis, and quantifying financial or market risk.
Exposure to risk management concepts in energy or project finance (e.g., commodity price/hedging, credit, liquidity, or covenant risk) preferred.
Solid understanding of financial principles, concepts, and practices.
Strong analytical and problem-solving skills.
Excellent attention to detail and accuracy.
Familiarity with financial reporting standards and regulations.
Effective communication and interpersonal skills.
Ability to work independently and as part of a team.
Commitment to maintaining confidentiality and integrity in handling financial information.

Nice To Haves

experience in power generation, power trading, or ERCOT market operations preferred
direct ERCOT nodal-market or middle-office commodity-risk experience strongly preferred
Exposure to risk management concepts in energy or project finance (e.g., commodity price/hedging, credit, liquidity, or covenant risk) preferred.

Responsibilities

Own and produce the daily risk report for the Risk Management Committee (RMC), including the summary dashboard, Forward Simulation Analysis and Value-at-Risk (VaR).
Maintain the day-ahead / real-time (DAM/RT) quantitative limit model and market-condition classification, monitoring DA-RT spread, spark spread, and implied heat rate exposures against approved risk limits and flagging breaches.
Decompose realized revenue into its drivers (hub revenue, basis, dispatch, and premium effects) and reconcile daily generation performance against forecast at the ERCOT nodal level.
Support hedging analysis and evaluate power, fuel (natural gas), and basis risk across the merchant portfolio, tracking resulting exposures under the Conduit Risk Management Policy.
Build and maintain scenario, sensitivity, and stress-test models (including Forward simulation) to assess the impact of price, volume, curtailment, and risk on project returns and liquidity.
Monitor counterparty credit exposure, contract terms, and concentration risk across offtake, supply, and financing arrangements.
Track compliance with lender covenants and debt service coverage requirements, flagging potential breaches in advance, and support risk reporting to management, lenders, and equity sponsors.
Assist in financial planning, budgeting, and forecasting processes specific to merchant and behind-the-meter natural gas power generation and battery energy storage.
Conduct financial analysis to support strategic initiatives, capital strategy, liquidity planning, and the assessment of downside and risk-adjusted scenarios.
Stay informed about industry trends, regulations, and best practices in finance and the energy sector.
Prepare and analyze financial reports, statements, and models to support decision-making and performance evaluation.
Monitor and analyze financial trends, variances, and key performance indicators within the ERCOT market.
Perform monthly cadences for operating assets reviews including variance analysis versus budget and forecasts.
Collaborate with cross-functional teams on special projects and initiatives.
Provide risk and analytical support to the Risk Management Committee (RMC), reporting to the Head of FP&A and Risk.