Head of Risk

ElectronX•Chicago, IL

23h

About The Position

ElectronX is seeking a Head of Risk to design and implement the enterprise risk framework for a new CFTC-regulated Derivatives Clearing Organization (DCO). This role is crucial for building the necessary financial infrastructure and risk management tools to support the growth of U.S. energy markets. The Head of Risk will work closely with the Chief Risk Officer to define risk across all dimensions (market, credit, counterparty, operational, liquidity), establish risk appetite, and ensure regulatory compliance and forward-thinking risk strategies. This is a hands-on building role, not a maintenance position, requiring a modern, quantitative approach suited for energy markets.

Requirements

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.
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 Haves

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.

Responsibilities

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.
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.
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.
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.
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.