# Head of Risk

**Company:** [Electronx](https://hotfix.jobs/companies/electronx)
**Location:** Chicago, IL, New York, NY
**Role:** Other
**Salary:** $225K-$300K
**Experience:** 10+ years
**Skills:** Var, Span, Stress Testing, Back-Testing, Margin Modeling, Risk Surveillance, Cftc Regulations, Default Management, Counterparty Credit Risk, Liquidity Risk
**Posted:** 2026-04-29

> Leads the design and implementation of enterprise risk framework for a derivatives clearing organization, including market, credit, operational, and liquidity risks. Oversees margin models, regulatory compliance, surveillance systems, and builds a high-performing risk team for a fast-growing energy exchange.

## Job Description

## 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

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