Head of Risk

Responsibilities

Enterprise Risk Framework

• Own the end-to-end risk management framework for the exchange and DCO.
• Define the enterprise risk appetite and tolerance statement.
• Build the risk governance structure including policies, procedures, and escalation frameworks.
• Establish risk reporting to the Board, regulators, and senior leadership.
• Develop and chair the Risk Committee.

Market & Credit Risk

• Design and oversee margin model validation, stress testing, and back-testing programs.
• Manage counterparty credit risk assessment and ongoing monitoring for clearing members.
• Develop position limits, concentration risk policies, and large trader surveillance.
• Build default fund sizing methodologies and maintain the default waterfall.
• Own recovery and resolution planning.

Operational & Liquidity Risk

• Stand up the operational risk program covering technology risk, business continuity, and third-party risk management.
• Build real-time risk monitoring and surveillance systems that can scale with 24x7 trading.
• Manage liquidity risk including liquidity stress testing and contingency funding planning.
• Establish robust financial controls for wire processing, cash reconciliation, and treasury operations.
• Ensure full compliance with customer funds segregation and protection requirements.

Regulatory

• Serve as the primary risk liaison with the CFTC and other regulatory bodies.
• Lead risk-related regulatory filings, rule submissions, and examination readiness.
• Ensure compliance with CFTC Part 39 requirements around risk management, financial resources, and default procedures.
• Stay ahead of evolving regulatory expectations and proactively adapt the risk framework.

Team & Stakeholders

• Build and lead a high-performing risk management team.
• Collaborate closely with compliance and finance on margin model design and clearing risk integration, and work cross-functionally with engineering, product, and commercial teams to embed risk thinking into business decisions.
• Manage relationships with regulators, clearing members, and industry risk bodies.
• Represent ElectronX in industry risk forums and working groups.

Requirements

Technical Acumen

• 10+ years in risk management at an exchange, CCP, FCM, or major financial institution.
• Deep expertise in derivatives risk including margin, default management, and systemic risk.
• Proven track record building or significantly transforming a risk function, not just maintaining one.
• Strong regulatory relationship management, ideally with the CFTC or equivalent bodies.
• Experience with enterprise risk governance, Board-level risk reporting, and risk committee leadership.
• Expert quantitative skills in risk modeling, VaR, stress testing, scenario analysis, and back-testing.
• Deep understanding of margin methodologies including SPAN, VaR-based, and historical simulation approaches.
• Experience with real-time risk monitoring systems and surveillance technology.
• Ability to translate risk requirements into technical specifications and work effectively with engineering teams.

The Right Mindset

• Frameworks first: You think in frameworks, not checklists.
• Practical rigor: You’re someone who builds risk programs that are robust enough to satisfy regulators and practical enough that the business actually uses them.
• Rigor with speed: You balance rigor with speed because you understand that in a startup, waiting for perfection means falling behind.
• Clear communicator: You’re a clear communicator who can make risk concepts accessible to the Board, to engineers, and to commercial teams.
• Builder mentality: You want to build something from scratch and put your stamp on it.

Nice to Have

• FRM, PRM, CFA, or equivalent certification.
• Experience in energy or commodity risk management.
• Background at a DCO or CCP during a launch or major expansion phase.
• Knowledge of real-time payments, digital asset risk, or emerging market infrastructure.
• Established relationships within the clearing and risk management community.
• Experience with international risk frameworks and cross-border regulatory coordination.

Benefits

• Health, vision and dental insurance
• 401(k) match
• Supplemental health and disability insurance
• Unlimited vacation
• Parental leave