What are the responsibilities and job description for the Power & Gas Valuation Analyst position at engelhart?
About Us
Engelhart was founded in 2013 by BTG Pactual Group as a commodities trading company. Our business model is “asset light” and highly diversified – giving us the ability to adapt effectively and nimbly to changing market conditions. We have assembled successful multidisciplinary teams, leveraging advanced fundamental analysis with deep quantitative and weather research capabilities. Our activities are underpinned by strong risk management practices and by powerful technology and operational excellence. We have exceptional teams with diverse global backgrounds and decades of experience, and are driven by a highly collaborative culture, across products and competencies.
In 2024, Engelhart acquired Trailstone, a global energy trading and technology company. The acquisition provides us with new expertise, analytics and proprietary technology which is being used to provide risk management and optimisation services to help maximise the value of our clients’ renewable power. The acquisition also expanded Engelhart’s capabilities into physical natural gas across North America, a critical fuel to support the energy transition.
Our talented and experienced individuals work together according to its four company values: be bold, be collaborative, be proactive, be your best.
About the Role
This is a permanent and exciting opportunity to join our Global Middle Office team as an analyst based in Houston. The analyst will primarily perform a P&L valuation function for North American Power & Gas businesses. Additionally, the analyst will engage in daily reconciliations and the development of internal projects aimed at optimizing existing controls. This key role offers direct exposure to the trading desks, risk department, IT, and other internal stakeholders.
Main duties include, but are not limited to:
- Produce and explain daily P&L and position reports across multiple Power & Gas trading strategies.
- Provide clear commentary on daily P&L drivers (price, volume, basis, shape, and embedded optionality).
- Develop a deep understanding of structured transactions, full-requirements deals, and other non-standard products.
- Perform product level valuation analysis and support reserve/adjustment justification.
- Build market perspective by sourcing broker and ISO data, evaluating forward curves and consensus pricing, and performing trend and fair-value analysis on illiquid hubs and shaped products.
- Support Trading, Risk, and Management with ad-hoc analysis, deal reviews, and commercial insights for new business initiatives.
- Work closely with Operations and IT to maintain data quality, ensure accurate valuation inputs, and improve system workflows.
- Identify opportunities to improve data quality, control frameworks, valuation methodologies, and analytical tools.
- Contribute to documentation, workflow standardization, and model transparency to ensure repeatability and scalability as the business grows.
Qualifications Required
- Bachelor’s degree with a strong analytical or quantitative focus (Finance, Economics, Engineering, Math, or related fields).
- 2–3 years of experience in a commodities trading or valuation environment, ideally within North American Power & Gas.
- Strong intellectual curiosity and ability to learn complex product structures and physical market mechanics quickly.
- Advanced Excel skills and familiarity with at least one programming language (VBA, Python, or SQL preferred).
- Working knowledge of financial derivatives (futures, options) and physical Power & Gas products.
- Familiarity with ISO markets (e.g., PJM, ERCOT, CAISO) is a plus.
- Self-driven, detail-oriented, and comfortable working independently in a fast-paced environment.
- Strong communication and teamwork skills, with the ability to build relationships across functional teams.
What we offer
- Competitive compensation and participation in Engelhart’s discretionary bonus plan.
- 20 days of annual holiday entitlement, excluding public holidays.
- Robust benefits package such as Medical, Dental, Vision, Life insurance, 401(k) match, and supplemental benefits partially subsidized by the Company.
We believe in inclusivity and are therefore dedicated to ensuring all employees – across gender identity, race, ethnicity, sexual orientation, religion, life experience, background and more – feel welcome and included in the company. We promote diversity because we believe it is essential to our ability to think holistically.