Financial Risk Manager

CoinDesk is the most trusted media, events, indices and data company for the global crypto economy. Since 2013, CoinDesk Media has led the story of the future of money and investing, illuminating the transformation in society and culture that comes with it. Our award-winning team of journalists delivers news and unparalleled insights that bring transparency, comprehension and context. CoinDesk Events gathers the global crypto, blockchain and Web3 communities at annual events such as Consensus, the world’s largest and longest-running crypto festival. CoinDesk Indices offers expertise in digital asset indices, data and research to educate and empower investors. For more information on CoinDesk media and events, please visithttp://coindesk.com [coindesk.com]and for breaking headlines, data and indices visithttp://coindeskmarkets.com [coindeskmarkets.com]

In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. For more information on Bullish, please visit https://bullish.com . CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.

Reports to:

Position Overview

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.

Responsibilities:

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.

Experience & Qualifications:

• Bachelor's degree in Finance, Economics, Mathematics, Statistics, or a related quantitative field. A Master's degree is strongly preferred. Professional certifications such as Financial Risk Manager (FRM) or Chartered Financial Analyst (CFA) are highly desirable.

• 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. Experience with digital assets, cryptocurrency, or blockchain technology is preferred.

• 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

• In-depth understanding of digital assets and the cryptocurrency market, including trading mechanisms, liquidity management, and related regulatory frameworks preferred.

• 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.

Bullish US LLC & CoinDesk Inc. are committed to offering competitive compensation and benefits. The anticipated base salary for this position is $200,000 - $230,000 + discretionary annual target bonus + performance incentives/benefits. Offered salary will be reflective of job related knowledge, skills and commensurate experience.

EQUAL OPPORTUNITY

In an effort to attract, retain, develop and promote the most qualified individuals, CoinDesk is committed to treating all applicants and employees in a nondiscriminatory manner with respect to the terms and conditions of employment, without regard to race, color, religion or belief, sex, national or ethnic origin, ancestry, age, marital status, sexual orientation, gender identity, veteran status/service, physical or mental disability, or any other classification protected by applicable law. This mandate governs all aspects of employment, including recruitment, selection, promotion, training, education, social and recreation programs, compensation, discipline, termination and access to benefits.

ACCOMMODATION

CoinDesk is also committed to providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the application process, please send an e-mail to [email protected]and let us know the nature of your request.