Manager, Financial Risk

Bullish-posted about 1 month ago

$180,000 - $225,000/Yr

Full-time • Mid Level

New York, NY

251-500 employees

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Bullish is an institutionally focused global digital asset platform that provides market infrastructure and information services. These include: Bullish Exchange – a regulated and institutionally focused digital assets spot and derivatives exchange, integrating a high-performance central limit order book matching engine with automated market making to provide deep and predictable liquidity. Bullish Exchange is regulated in Germany, Hong Kong, and Gibraltar. CoinDesk Indices – a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets for global institutions in the digital assets and traditional finance industries. CoinDesk Data - a broad suite of digital assets market data and analytics, providing real-time insights into prices, trends, and market dynamics. CoinDesk Insights – a digital asset media and events provider and operator of Coindesk.com, a digital media platform that covers news and insights about digital assets, the underlying markets, policy, and blockchain technology. Bullish is seeking an experienced, highly motivated and analytical Financial Risk Manager to join our team. This role will provide critical support to the Director of Financial Risk for both US & non-US Exchange activity while driving the risk program development of our new US risk derivatives intermediation business. The Financial Risk Manager will ensure the systemic risk controls and models meet all regulatory requirements, guidelines and principles while playing a critical role in protecting the company's assets, and supporting our strategic growth in a fast-paced, highly volatile market.

Risk Support and Analytics
Stress Testing & Default Fund: Execute daily and intra-day stress tests (e.g., historical, hypothetical, and extreme but plausible scenarios) across the Bullish clearing business to ensure the pre-funded financial resources (Cover 2) are adequate.
Margin Validation: Assist in the ongoing independent review and validation of the Bullish margin models for crypto referenced derivative products. Propose adjustments to risk parameters and haircuts as market conditions evolve.
Model Implementation: Work with Technology teams to ensure the Bullish risk measurement and control systems are accurately implemented and continuously function in compliance with regulatory requirements, guidelines and principles.
Regulatory Reporting: Prepare analytical sections of periodic risk reports for the Board Risk Committee and external regulators.
Risk Program Development
Program Ownership: Assume ownership of the Bullish derivatives Risk Management Program (RMP), for the intermediation business, ensuring full compliance.
Credit & Market Limit Setting: Oversee the methodology for calculating and setting pre-trade credit and capital thresholds for Bullish customers, managing segregated accounts appropriately.
Segregation & Liquidity: Monitor and report on Segregation Risk, specifically on any residual interest buffer in customer funds, and develop robust liquidity contingency plans.
Risk Identification & Assessment: Proactively identify and evaluate potential financial risks, including market risk, credit risk, liquidity risk, operational risk, legal risk, and inflation risk. Analyze new products, processes, and market developments to determine their impact on risk exposure.
Risk Mitigation & Control: Develop and implement risk management strategies, policies, and procedures to limit risk exposure.
Monitoring & Reporting: Continuously monitor key risk indicators and financial markets. Prepare and present clear, detailed reports and presentations to senior management and regulatory bodies, including the quarterly risk exposure reports, outlining risk exposures, strategies, and recommended changes. Ensure timely communication of critical threats.
Regulatory Compliance: Stay informed of evolving industry trends, regulatory changes, and economic developments. Ensure adherence to all relevant laws, regulations, and industry standards.
Collaboration: Partner with various departments, including trading, engineering, and legal, to ensure effective risk management practices are integrated across the organization. Promote a strong, risk-aware culture throughout the company.

Bachelor's degree in Finance, Economics, Mathematics, Statistics, or a related quantitative field.
6+ years of experience in financial risk management or a related role within the financial services or FinTech industry.
Direct experience with central counterparty or clearing member risk is essential.
Hands-on experience with margin methodologies (e.g., portfolio margining, backtesting, stress testing) is essential.
Strong familiarity with the regulatory requirements governing US derivatives intermediaries needed
Strong analytical, mathematical, and quantitative skills.
Proficiency in financial modeling, statistical analysis, and risk management software.
Excellent written and verbal communication skills, with the ability to convey complex technical information to a wide range of stakeholders.
Proven leadership ability and experience in strategic planning and implementation.
Exceptional problem-solving skills and a methodical approach to work.
Ability to thrive and make informed decisions under pressure in a high-volatility environment.

A Master's degree is strongly preferred.
Professional certifications such as Financial Risk Manager (FRM) or Chartered Financial Analyst (CFA) are highly desirable.
Experience with digital assets, cryptocurrency, or blockchain technology is preferred.
In-depth understanding of digital assets and the cryptocurrency market, including trading mechanisms, liquidity management, and related regulatory frameworks preferred.

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