## Market Risk AnalystApply: CA-AB-Calgary: Full time: Posted Yesterday: End Date: October 2, 2026 (13 days left to apply): R-411128Worker Type: EmployeeJob Post End Date: 10/02/2026**About this opportunity:**Reporting to the Senior Manager, Pricing and Risk Analytics, the Market Risk Analyst is responsible for ensuring the accuracy, integrity, and governance of commodity price data across its full lifecycle, from external pricing sources and aggregation methodologies to ETRM systems and downstream users. The role also supports daily trading operations through end-of-day processing, P&L; reporting, and market risk analysis. As a key member of the Middle Office (Market Risk) team, the Market Risk Analyst helps maintain the control framework that supports Cenovus' diverse commodity portfolios and business activities. The successful candidate will bring strong analytical and problem-solving skills, a continuous learning mindset, and the ability to collaborate effectively across teams in a fast-paced, dynamic environment.**What you’ll do:*** Manage the governance, integrity, and delivery of commodity pricing data from external sources through aggregation methodologies to ETRM systems and downstream consumers.* Execute and maintain pricing processes across crude oil, natural gas, power, refined products, NGLs, and derivatives, including QA/QC of forward curves and ETRM configuration.* Partner with Front, Middle, and Back Office teams to ensure accurate pricing for mark-to-market valuation, risk measurement, and reporting.* Maintain and enhance commodity price curves and reference data to support new products, business activities, and market expansion.* Perform independent price verification (IPV) across multiple commodities, leveraging internal and external market data to identify and communicate insights and exceptions.* Develop and enhance pricing, reporting, and visualization solutions,



including dashboards and analytical tools that support trading and risk management activities.* Drive continuous improvement through the adoption of technologies such as Databricks, Python, Power BI, and MarketView to strengthen data management, automation, and analytics capabilities.* Provide cross-commodity coverage, respond to ad hoc pricing requests, and support process, system, and control enhancements to ensure operational resilience and business effectiveness.**Who you are:**Our ideal candidate will have the following minimum requirements:* Legally authorized to work in Canada* Bachelor’s degree in a quantitative discipline such as Statistics, Mathematics, Finance, Economics, Computer Science, Engineering, Geophysics, or a related field.* Minimum 5 years of experience in Market Risk, Commodity Trading, Middle Office, or a related analytical role.* Knowledge of commodity pricing, market data, valuation, and risk reporting processes within an energy trading or commodity-focused environment.* Experience working with market data platforms and commodity pricing repositories; familiarity with MarketView is considered an asset.* Strong quantitative, analytical, and problem-solving skills, with proficiency in analytical capabilities, including programming languages such as Python and VBA, visualization platforms such as Power BI, or similar applications.* Experience with ETRM systems and an understanding of commodity pricing, reference data management, and trading-related business processes.* Robust attention to detail, organizational skills, and the ability to manage multiple priorities while delivering accurate results in a fast-paced environment.* Excellent communication and stakeholder management skills, with the ability to clearly convey technical concepts and collaborate effectively across business functions.**Note: The application deadline for this position is 11:59 PM MT October 1st, 2026.**
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📌 Market Risk Analyst (Alberta)
🏢 Cenovus Energy
📍 Alberta