Operations Risk Manager

Reporting: Chief Executive Officer

Based in Dubai

(Immediate Joiners Required)

Job Overview

We are seeking to recruit an experienced Operations Manager for a leading entity, to be based in Dubai. This role requires someone who is expected to coordinate people and resources across various functions to manage operational risks on a day to day basis and will be responsible for all implementations pertaining to operational risk enhancements, controls and mitigation.

Job Responsibilities

• Propose a market risk framework for the management of market risks.
• Develop risk models for quantifying the firm's overall risk exposure on the market-making books, as well as the various quantitative and discretionary prop books.
• Ensure relevant risk measures, controls and processes are in place, and to run a daily monitoring and reporting process to stakeholders.
• Responsible for regular or ad-hoc market risk activities reports/information/analysis to management.
• Support new product approval process through market risk identification, risk measurement, limits setting and monitoring for breaches.
• Full autonomy in controlling market risk within the firm and making recommendations to management on trading limits and stop losses for trading desks
• Ensure that market risks are properly assessed and that risk/return decisions are made transparently on the basis of this proper assessment, and risks are controlled in accordance with the risk appetite and thresholds.
• Ensure that traded risk measurement methodologies are fit-for-purpose, comprehensive and implemented with integrity.
• Review, recommend, discuss, and analyze traded market risk data and other financial product information, pertaining to cryptocurrencies spot and derivative trading, with a view of setting risk parameters to protect the firm from catastrophic losses.
• Identify and report material risks to the management and challenge the businesses with evidence that the material risks arising from their business activities have been identified, assessed, monitored, and reported.
• Create transparency and escalate in a timely manner to relevant stakeholders regarding the key exposures in the various blockchain layers.
• Identify and escalate new and emerging risks that could be material to the business. Recommend relevant controls to manage these emerging risks to avoid big losses.
• Monitor internal and external events material to the firm and ensure appropriate management action is being taken to mitigate their impact.
• Monitor client accounts for breaches of any terms or margins offered

Job Requirements

• Experienced market risk manager with in-depth knowledge and understanding of options and FX/interest rate derivatives.
• 2+ years of team leading and management
• Basic coding experience in Python/R for prototyping risk models.
• Deep interest in crypto and basic understanding of protocols/mechanisms in the various DeFi sectors - including but not limited to option vaults, borrowing/lending, Automated Market Making, etc.
• Understanding of the mechanics of the crypto derivatives market - including the perpetual futures market, term futures market and options markets
• Keen to learn more about the various cryptocurrencies and their idiosyncrasies.
• Comfortable working in a start-up culture with a flat structure and open working concept