Risk Manager, Quantitative (EMEA)

About the job
The exchange team develops and maintains a cutting-edge trading platform. With a global presence across APAC, EMEA, and North America, the team aims to provide a seamless and secure trading experience for clients. We are looking for a quantitative Risk Manager to join our global exchange team, primarily focusing on the models. You will own the design, calibration, and validation of the margin, pricing, and liquidation frameworks that our FCM and clearing businesses rely on. Additionally, you will participate in daily risk monitoring, escalation, and reporting that the entire team handles. You'll be contributing to the construction of a fast-growth trading platform with innovative, multi-asset products bridging traditional finance (TradFi) and digital markets. We seek individuals who are passionate about financial market innovation, who demonstrate energy, ownership, and exemplary work ethics.

Responsibilities

• Own margin methodology across the group, including SPAN, VaR, and portfolio-margining approaches, and benchmark our models against those used by the clearing houses and exchanges we face.
• Develop, implement, and validate derivatives pricing models for new and existing products across various asset classes (e.g., equities, commodities, futures, perpetuals, options).
• Backtest margin coverage and document model performance, assumptions, and limitations to a standard that withstands regulatory and audit review.
• Build and maintain the data pipelines and automated reporting behind the risk models, working in SQL, Python, and relational databases.
• Monitor and analyze real-time and historical portfolio risk, including exposure, leverage, margin utilization, concentration, and liquidation.
• Design optimal automated liquidation logic and algorithms to balance market risk with market impact during extreme volatility.
• Perform scenario analysis and stress testing across a range of market conditions.
• Provide risk input into product onboarding, listing reviews, and regular risk parameter reviews: haircuts, margin levels, liquidation thresholds, index pricing, funding rates, and position limits.
• Analyze market microstructure on multi-asset derivative markets, periodically reviewing and calibrating risk models according to evolving market conditions.
• Support the build and maintenance of internal risk dashboards and analytical tools.

Requirements

• 5+ years of relevant working experience in quantitative research, risk management, trading, or a related field. Exposure to daily risk operations is expected alongside the modelling work; regulator-facing experience is welcome but not required.
• Master or PhD in a quantitative discipline (e.g., math, physics, statistics, engineering, computer science, financial engineering, quantitative finance, etc.).
• Proficient in Python and SQL or noSQL data structures, data models, and database management.
• Strong understanding of derivatives pricing theory across traditional and digital asset classes.
• Deep understanding of Order Book Dynamics (L1-L3 data) and Cross/Portfolio-Margining methodologies (e.g., offsetting spot against futures).
• Deep knowledge of equities, commodity products, macro assets, and ongoing developments in these spaces; thoroughly familiar with futures, perpetuals, or other derivative types.
• Direct trading experience (personal or professional) is highly ideal, with a deep familiarity with margin concepts and liquidation mechanisms.
• Experience at a broker-dealer, exchange, or clearing organization, with familiarity on how brokers and CCPs operate is a strong plus.
• Think critically and strive for continuous improvement.

Benefits

• Competitive salary.
• Attractive annual leave entitlement including: birthday and work anniversary.
• Flexibility in work hours and hybrid or remote setup.
• Opportunities for career advancement through an internal mobility program.
• Work perks include a visa card provided upon joining.
• Benefits packages vary depending on regional requirements.