North America Head of Gas Basis Markets Trading – Executive Director

JPMorgan Chase & Co.•New York, NY

About The Position

As an Executive Director or Managing Director North America Gas Basis Markets Trader in the Gas Basis Trading team, you lead a team of traders to monetize physical and derivatives client flow, actively manage basis risk, and deliver consistent revenue and client value. You partner with sales, risk, and financing teams to price competitively, optimize liquidity, and ensure disciplined risk management, operating in a collaborative, high‑performance culture that values clear communication, analytical rigor, and continuous improvement.

Requirements

Bachelor’s degree or equivalent experience.
10 years of experience trading and originating physical natural gas.
Demonstrated track record managing North America gas basis risk and portfolio P&L.
Proven experience pricing and monetizing client flow across physical and derivatives markets.
Strong understanding of commodities infrastructure (pipelines, storage, hubs, tariffs) and credit implications of trading activities.
Leadership experience managing traders and owning risk within defined limits.
Ability to produce clear written and verbal communications for risk, pricing, and client interactions.

Nice To Haves

Advanced degree in a quantitative or relevant field.
Expertise with United States and Canadian pipeline operations, tariffs, and scheduling.
Experience with energy trading risk management (ETRM) systems and automated risk/reporting workflows.
Coding skills to build analytics and tools (e.g., Python, SQL) and visualize market fundamentals.
Established relationships across producers, marketers, and utilities.

Responsibilities

Lead and develop a team of traders to build a best‑in‑class North America gas basis franchise.
Price and monetize derivatives and physical client flow through the sales desk, capturing client value efficiently.
Manage a North America gas basis portfolio with disciplined limits and educated market views to drive returns.
Size, understand, and manage position risk, liquidity, and basis exposures with strong commercial judgment.
Integrate risk, credit costs, and the competitive landscape into pricing and execution decisions.
Manage client risk to minimize residual exposure while optimizing economics and client outcomes.
Develop and maintain analytical tools for fundamental supply, demand, storage, and pipeline analysis.
Report risks, P&L drivers, and opportunities to management with timely, concise communication.
Translate complex trade structures into clear, actionable communications for stakeholders.
Build and leverage partnerships across sales, research, financing, and operations to deliver holistic client solutions.
Foster an inclusive, high‑performance culture through strong communication and sharing of best practices.