Senior Manager of Risk

Topstep-posted 7 days ago
Full-time • Senior
Hybrid
51-100 employees
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The Senior Manager of Risk is a key leadership position responsible for setting the strategic vision and operational direction of Topstep’s Risk function. This role oversees the Managers of Risk and ensures that the team effectively monitors, manages, and mitigates trading and operational risk across both simulated and live trading environments. The Senior Manager balances strategic oversight with hands-on leadership, ensuring alignment with Topstep’s business objectives, regulatory standards, and culture of continuous improvement.

  • Provide vision, structure, and leadership for the Risk team, ensuring consistency in performance and decision-making across all levels.
  • Manage and mentor Managers of Risk, guiding team development, accountability, and succession planning.
  • Establish and maintain departmental KPIs, performance goals, and reporting standards.
  • Partner with senior leadership to align risk initiatives with broader organizational strategy and regulatory priorities.
  • Anticipate and prepare for evolving risk exposures resulting from market, operational, or technological changes.
  • Supervise the execution and escalation of all risk controls, including margin enforcement, liquidation events, and exposure monitoring.
  • Oversee trader activity in both simulated and live environments, ensuring adherence to firm policy and regulatory expectations.
  • Review and approve complex or high-impact risk events, escalations, and exceptions.
  • Lead post-event reviews and implement corrective actions to prevent recurrence.
  • Maintain close communication with the Desk, Compliance, and Engineering teams to address system gaps or process inefficiencies.
  • Set and maintain the firm’s risk management policies, ensuring alignment with CFTC and NFA requirements.
  • Oversee the documentation and retention of all risk communications, margin events, and liquidation records.
  • Partner with Compliance to manage audits, regulatory inquiries, and internal reviews.
  • Maintain a proactive and transparent risk governance framework with clear escalation channels.
  • Partner with the Engineering and Analytics teams to enhance automated monitoring, alerting, and reporting capabilities.
  • Drive improvements in real-time data accuracy, reconciliation efficiency, and audit traceability.
  • Analyze key metrics to identify systemic issues, inefficiencies, or opportunities for automation.
  • Oversee vendor relationships for risk and data systems, ensuring performance and scalability.
  • Collaborate with Product, Compliance, and Research teams to ensure risk processes support innovation while maintaining control integrity.
  • Communicate market insights, risk trends, and operational priorities to leadership and cross-functional partners.
  • Advocate for continuous improvement, ensuring the Risk team remains adaptable to industry and market shifts.
  • 5-10 years of experience in brokerage, proprietary trading, or FCM risk management, with at least 3 years in leadership.
  • In-depth knowledge of CFTC and NFA regulatory frameworks, including margin, supervision, and recordkeeping.
  • Proven experience managing teams responsible for real-time risk monitoring or trade supervision.
  • Strong analytical and data management capabilities, with proficiency in Excel and business intelligence tools.
  • Demonstrated success in building and optimizing processes across cross-functional teams.
  • Excellent communication, leadership, and decision-making skills, particularly under pressure.
  • Experience working with professional financial institutions in the Professional side of the Futures Trading Industry.
  • Strong sense of accountability, integrity, communication, and ethics.
  • Advanced Excel skills.
  • Series 3 license is required.
  • Bachelor’s degree in a relevant field.
  • Background in FCM or proprietary trading firm risk management.
  • Experience with SQL, Python, Power BI, or Tableau for risk analytics.
  • Familiarity with risk monitoring platforms (T4, CQG, TT, or similar).
  • Experience leading system modernization or automation initiatives within a risk function.
  • Topstep is an engaging working environment which ranges from fully remote to hybrid. We foster a culture of collaboration with cameras on during meetings and a robust Slack environment for communication.
  • 10 Company paid Holidays and generous Family Leave. Paid time off is accrued monthly.
  • Competitive 401(k) matching, health, dental, and vision insurance is offered for full time employees
  • Vacations are encouraged with a bonus for taking 5 consecutive days. Employee referrals are bonused. Topstep offers a food and groceries budget and contributes towards health and wellness.
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