Sr. Derivatives, Risk & Front Office Product Manager

Clearwater Analytics•New York, NY

5d•$179,400 - $243,136

About The Position

Clearwater Analytics is seeking a Senior Derivatives Product Manager to own and evolve product strategy for front- and middle-office derivatives capabilities. The position sits at the intersection of investment operations, risk management, and technology, defining how derivative workflows, data, and events connect across trading, valuation, exposure, margin, settlement, accounting, and reporting. The role turns knowledge of derivatives operating models into product requirements that help institutional clients manage derivative portfolios, working closely with engineering, design, sales, and clients to design and build workflows. This is a functional workflow and product role. It does not require building pricing models or independently calculating valuations, risk metrics, or margin. Quant and data teams own those calculations; this role owns how their outputs flow through and are used in the product.

Requirements

At least 8 years of experience in product management, front- or middle-office derivatives technology, derivatives operations, or implementation and solution design within financial services, asset management, or fintech.
Strong working knowledge of derivative instruments, including swaps, futures, options, forwards, and structured products, and lifecycle events such as amendments, resets, settlements, terminations, and novations.
Understanding of the front-to-middle-office derivative operating model and how trades, valuations, exposures, margin and collateral calls, cash flows, settlements, and accounting records connect and are reconciled.
Familiarity with counterparty and agreement concepts such as ISDA agreements, CSAs, and netting sets, and how they drive downstream processing.
Working understanding of how valuations, market data, sensitivities, and risk metrics such as VaR, stress testing, and scenario analysis are generated and consumed by downstream processes; independent calculation is not required.
Experience working with front- or middle-office systems, such as OMS/EMS, risk platforms, portfolio accounting, collateral or reconciliation tools, or similar.
Ability to translate business workflows into clear product requirements, data requirements, user stories, process flows, and acceptance criteria.
Track record of managing a product roadmap and collaborating effectively with engineering and design teams in an agile environment.
Excellent communication skills, including experience presenting to technical and non-technical stakeholders and clients.
Bachelor's degree in Finance, Economics, Engineering, Computer Science, or a related field.

Nice To Haves

An advanced degree, CFA, or FRM.
Prior experience at an asset manager, insurance company, bank, or investment technology provider is strongly preferred.

Responsibilities

Own the product roadmap for derivative front- and middle-office workflows, from ideation through delivery and adoption.
Design end-to-end derivative workflows connecting trade capture, lifecycle events, valuation, exposure, margin and collateral, settlement, accounting and position records, reporting, and reconciliation.
Translate market, regulatory, and client requirements into detailed product requirements, data requirements, process flows, user stories, and acceptance criteria for engineering teams.
Define how derivative data and events move between systems, including trades, valuations, market data, cash flows, collateral, and counterparty agreement data, and how downstream functions consume them.
Partner with clients, sales, and client services to understand workflow pain points across trading, middle office, operations, risk, and portfolio management.
Define requirements for how valuations, sensitivities, and risk outputs are consumed in workflows, in partnership with data and quant teams that own models and calculations.
Prioritize the backlog based on client impact, revenue opportunity, regulatory urgency, and technical feasibility.
Serve as the subject matter expert on derivatives operating models and workflows for internal stakeholders, including sales enablement and marketing.
Monitor industry trends, competitor offerings, and regulatory developments affecting derivative workflows and products.
Define and track success metrics for shipped features and iterate based on client feedback and usage data.
Represent the product in client-facing settings, including advisory boards, demos, and requirements-gathering sessions.