Risk
Own and scale Kalshi Prime’s risk function by developing margin methodologies, stress tests, residual-interest processes, and default-management controls. The role requires FCM or CFTC Swap Dealer risk experience, strong derivatives knowledge, 4–7 years of decision-making experience, and technical modeling ability.
About the job
Responsibilities
Margin & Exposure Management
- Own and continuously refine Kalshi Prime’s margin methodology so required margin reflects actual position risk.
- Monitor customer positions and concentration in real time, setting house margin above exchange minimums where risk calls for it.
Stress Testing & Scenario Analysis
- Build and run stress tests modeling how customer portfolios perform under extreme market moves.
- Size potential shortfalls against margin on file.
- Backtest models against historical price action and maintain a live set of tail-risk scenarios as market conditions shift.
Regulatory Capital & Residual Interest
- Own the residual interest calculation and process, ensuring the firm’s capital contribution to segregated customer funds meets CFTC requirements.
- Monitor net capital and segregated funds compliance.
- Partner with compliance and finance on regulatory risk reporting.
Default Management & Governance
- Maintain the playbook for an actual customer default.
- Improve auto-liquidation logic and thresholds for manual intervention.
- Prepare risk materials for the Risk Management Committee.
- Assess new products and markets for margin parameters before launch.
Requirements
- Direct experience managing a risk function at an FCM; CFTC Swap Dealer risk experience is the next closest fit.
- 4–7 years of experience minimum, with a track record as a decision-maker and approver in a risk function.
- Deep fluency in risk and margin models, with the ability to build them independently.
- Strong grounding in derivatives and financial markets, including concepts such as VaR.
- Ability to independently build risk scenarios and forecasts, including residual-interest modeling.
- Working knowledge of the relevant regulatory landscape, or the ability to learn it quickly.
- Technical self-sufficiency and comfort building tools independently.
- Strong multitasking ability across risk, financial markets, and operational demands.
Compensation & Benefits
- Salary range: $200,000–$250,000 annually, plus equity and benefits.
Skills
Risk Management, Margin Models, Stress Testing, Scenario Analysis, Derivatives, Financial Markets, Value At Risk, Residual Interest, Cftc Regulations, Net Capital, Collateral Risk Management, Credit Risk Management, Auto-Liquidation
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