Head of Financial Risk Management - Bitnomial

Kraken
Chicago
Workplace: HybridFull timeUSD 110,400 - 220,800 annuallyFunction: Legal, Risk & ComplianceExperience: 10+ yearsEducation: bachelorsSkills: ["Written communication","Verbal communication","Executive communication","Model documentation","Judgment under pressure","Attention to detail","Collaboration","Regulatory engagement"]

Lead financial risk management for a CFTC-registered derivatives clearing organization, safeguarding clearinghouse integrity through margin model design, calibration, and ongoing oversight. Own market risk and stress testing frameworks, including scenario design and performance monitoring, and ensure compliance with CFTC Part 39 DCO Core Principles. Partner with clearing operations, technology, compliance, and senior leadership to support regulatory readiness and effective clearing member oversight.

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Kraken
Kraken
3 days ago

Head of Financial Risk Management - Bitnomial

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Job Summary

Lead financial risk management for a CFTC-registered derivatives clearing organization, safeguarding clearinghouse integrity through margin model design, calibration, and ongoing oversight. Own market risk and stress testing frameworks, including scenario design and performance monitoring, and ensure compliance with CFTC Part 39 DCO Core Principles. Partner with clearing operations, technology, compliance, and senior leadership to support regulatory readiness and effective clearing member oversight.
Location: Chicago
Workplace: Hybrid
Employment Type: Full time
Job Function: Legal, Risk & Compliance
Seniority: Sr. Director level

Key Responsibilities

  • •Lead margin modeling and methodology, including design, calibration, and ongoing oversight of initial and variation margin models across cleared products.
  • •Recalibrate margin parameters and enhance portfolio-based margining methodologies; conduct back-testing, sensitivity analysis, and performance reviews with clear stakeholder/regulator reporting.
  • •Design, execute, and continuously refine the DCO’s stress testing program across historical, hypothetical, and reverse stress scenarios, monitoring concentration, wrong-way, liquidity, and tail risks.
  • •Ensure compliance with CFTC Part 39 DCO Core Principles; serve as a liaison to regulators during examinations, rule certifications, and ad hoc inquiries.
  • •Oversee clearing member risk through financial/operational reviews, monitor exposures and collateral sufficiency, and partner with operations and technology to improve real-time risk monitoring tools.

Pay and Benefits

Salary: USD 110,400 - 220,800 annually

Key Requirements

  • •10+ years of risk management experience at a CFTC-registered derivatives clearing organization (DCO) with direct ownership of margin and/or stress testing methodologies.
  • •Deep, practical knowledge of CFTC regulations, including Part 39 DCO Core Principles and familiarity with Parts 1, 22, and 190.
  • •Expertise in market risk concepts including VaR, Expected Shortfall, scenario analysis, volatility modeling, and portfolio risk aggregation across futures and options.
  • •Strong foundation in margin model design and validation (e.g., SPAN, SPAN 2, historical simulation, parametric, or Monte Carlo-based approaches).
  • •Bachelor’s degree in a quantitative discipline (Finance, Economics, Mathematics, Statistics, Engineering, or related); advanced degree preferred.
Experience:10+ yearsDerivativesClearingRisk managementCFTC
Education:Bachelor's
Skills:Written communicationVerbal communicationExecutive communicationModel documentationJudgment under pressureAttention to detailCollaborationRegulatory engagement
Tech Stack:Margin modelsStress testingCFTC Part 39DCO Core PrinciplesSPANSPAN 2VaRExpected ShortfallHistorical simulationVolatility modelingMonte Carlo

Company Brief

Kraken
Kraken (Payward, Inc.) is a global cryptocurrency exchange and financial infrastructure provider offering spot and derivatives trading, staking, custody, tokenized assets and institutional services to retail and institutional clients.
Industry: Trading Platforms
Company Size: Enterprise (1,001+ employees)
Revenue: USD 1B+
Growth: Scaleup
Valuation: Decacorn (USD 10B+)
Funding: Series E+
Headquarters: San Francisco, United States
Founded: 2011
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