Senior Manager, Market Risk (Trading & Derivatives)

Kraken

6d•Remote

About The Position

Building the Future of Crypto Our Krakenites are a world-class team with crypto conviction, united by our desire to discover and unlock the potential of crypto and blockchain technology. What makes us different? Kraken is a mission-focused company rooted in crypto values. As a Krakenite, you’ll join us on our mission to accelerate the global adoption of crypto, so that everyone can achieve financial freedom and inclusion. For over a decade, Kraken’s focus on our mission and crypto ethos has attracted many of the most talented crypto experts in the world. Before you apply, please read the Kraken Culture page to learn more about our internal culture, values, and mission. We also expect candidates to familiarize themselves with the Kraken app. Learn how to create a Kraken account here. As a fully remote company, we have Krakenites in 70+ countries who speak over 50 languages. Krakenites are industry pioneers who develop premium crypto products for experienced traders, institutions, and newcomers to the space. Kraken is committed to industry-leading security, crypto education, and world-class client support through our products like Kraken Pro, Desktop, Wallet, and Kraken Futures. Become a Krakenite and build the future of crypto! Proof of work The team Crypto markets run 24/7, volatility is structural, and liquidity can shift across venues in seconds. Kraken operates one of the world’s most sophisticated digital asset trading platforms, supporting spot markets, margin trading, futures, options, and a rapidly growing OTC business. We’re looking for a Market Risk Lead to help design and oversee risk frameworks that support Kraken’s trading businesses. This role is ideal for someone with deep trading intuition and derivatives expertise. Many successful candidates come from trading desks, options market making, or derivatives risk teams at major banks or proprietary trading firms. If you enjoy understanding how markets behave under stress and building systems that allow trading businesses to operate safely at scale, this role is for you. The opportunity As Senior Manager, Market Risk, you will help design the risk architecture supporting Kraken’s OTC desk, derivatives platform, and trading liquidity systems. This role goes beyond traditional monitoring — you will work closely with traders, quants, and product teams to design risk frameworks that scale with Kraken’s trading ecosystem. You will play a key role in ensuring Kraken can continue expanding its trading products while maintaining disciplined risk management.

Requirements

8+ years of experience in market risk, derivatives trading, or trading desk risk
Strong understanding of options, derivatives, and trading risk management
Experience working closely with trading desks or market-making businesses
Deep familiarity with risk metrics such as VaR, stress testing, and options Greeks

Nice To Haves

Former trader, structurer, or options market maker
Python or quantitative modeling experience
Experience working in 24/7 markets or crypto trading environments

Responsibilities

Build Trading Risk Frameworks
Design risk frameworks governing spot, derivatives, options, and OTC trading
Define exposure limits, position controls, and escalation frameworks for trading activities
Partner with traders to ensure risk frameworks support efficient market-making and liquidity provision
Options & Derivatives Risk
Build analytics and controls for managing options and derivatives exposures
Monitor risk factors including delta, gamma, vega, volatility regimes, and liquidity conditions
Evaluate risk scenarios during periods of extreme crypto market volatility and design mitigations
Trading & Liquidity Risk
Assess risks associated with large trading flows, OTC activity, and cross-venue liquidity
Monitor how liquidity fragmentation across exchanges and protocols affects risk exposures
Help design safeguards against market dislocations and liquidity shocks
Risk Analytics & Monitoring
Build and improve market risk analytics including VaR, stress testing, and scenario analysis
Develop dashboards and tools for monitoring trading exposures in real time
Partner with engineering teams to improve risk infrastructure supporting Kraken’s trading platforms
Market Structure Insights
Analyze how crypto market structure — including derivatives liquidity, funding rates, and exchange flows — affects Kraken’s risk profile
Provide insights to trading teams and leadership during periods of market stress
Additional duties and responsibilities as assigned