Head of Risk

ElectronX•Chicago, IL

10h•$225,000 - $300,000

About The Position

ElectronX is seeking a Head of Risk to build and execute the enterprise risk framework for its CFTC-regulated Derivatives Clearing Organization (DCO) and exchange, in close partnership with the Chief Risk Officer. The role will establish how the company identifies and manages market, credit, counterparty, operational, and liquidity risk as ElectronX transitions to margin-based trading. It is a build-from-scratch leadership role focused on creating a modern, quantitative risk function suited to the speed and complexity of energy markets and keeping the company ahead of regulatory expectations. The Head of Risk will define risk appetite and governance, develop risk monitoring and surveillance infrastructure, oversee margin and default-risk methodologies, lead regulatory engagement, and build a high-performing risk team. The role partners with compliance, finance, engineering, product, and commercial teams and represents ElectronX with regulators, clearing members, and industry risk organizations.

Requirements

10+ years of risk management experience at an exchange, CCP, FCM, or major financial institution.
Deep expertise in derivatives risk, including margin, default management, and systemic risk.
Proven record of building or significantly transforming a risk function.
Strong regulatory relationship-management experience, 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.
Framework-oriented approach to risk management.
Ability to build rigorous programs that meet regulatory expectations and are practical for business use.
Ability to balance rigor with speed in a startup environment.
Clear communication skills, including explaining risk concepts to the Board, engineers, and commercial teams.
Builder mentality and interest in creating a risk function from scratch.

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 risk governance structures, 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.
Assess and monitor clearing-member counterparty credit risk.
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.
Establish the operational risk program, including technology risk, business continuity, and third-party risk management.
Build real-time risk monitoring and surveillance systems that scale with 24x7 trading.
Manage liquidity risk, including liquidity stress testing and contingency funding planning.
Establish financial controls for wire processing, cash reconciliation, and treasury operations.
Ensure 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 concerning risk management, financial resources, and default procedures.
Monitor evolving regulatory expectations and adapt the risk framework proactively.
Build and lead a high-performing risk management team.
Collaborate with compliance and finance on margin model design and clearing-risk integration; work with engineering, product, and commercial teams to embed risk considerations in business decisions.
Manage relationships with regulators, clearing members, and industry risk bodies.
Represent ElectronX in industry risk forums and working groups.