Derivatives Risk Oversight Lead

TL;DR

Derivatives Risk Oversight Lead: Oversee and continuously enhance risk management frameworks for derivatives trading, with an accent on independent challenge of margin models, risk exposures, and valuation logic. Focus on stress testing, margin/collateral adequacy, counterparty risk limits, and MiFID regulatory submissions while ensuring robust 2LOD governance for the BFS entity.

Location: London, UK (in-person attendance expected at least 3 days per week)

Company

Robinhood builds financial products and services, including derivatives trading through Bitstamp Financial Services (BFS).

What you will do

• Support the Director of Risk in implementing and managing financial risk management programs for the BFS entity and the Bitstamp group, focusing on market, product, counterparty, margin, collateral, and liquidity risks from spot and derivatives activities.
• Provide independent monitoring of risk exposures and escalate breaches of approved limits, with emphasis on trading-related risks and scalable control design.
• Review and validate derivatives risk models and exposure metrics, independently challenging product calculations, valuation logic, exposure metrics, and model assumptions.
• Define and periodically review margin methodologies and independently assess the adequacy of margin and collateral practices (initial/maintenance margin, liquidation thresholds, haircuts, concentration add-ons, stressed close-out assumptions).
• Define counterparty risk frameworks and limits; monitor exposures and challenge limit utilization, concentration risk, and interconnected exposures across spot and derivatives books.
• Conduct stress testing and scenario analysis for the derivatives portfolio and develop contingency plans, including independent house stress scenarios and the ability to reproduce and challenge 1LOD stress calculations.

Requirements

• 5+ years of experience in financial risk management, ideally in a second line of defense capacity; direct derivatives/market risk experience is essential.
• Strong understanding of MiFID regulatory framework (particularly derivatives) and prudential expectations for investment firms offering derivatives products.
• Ability to independently test, recalculate, and challenge front-line risk metrics and product outputs; strong analytical skills and attention to detail.
• Good knowledge of balance sheet components and drivers of income, including capital, liquidity, and P&L implications of leveraged derivatives activity.
• Excellent English (written and verbal).
• Ability to operate independently and navigate ambiguity.

Nice to have

• Experience in a derivatives trading firm or brokerage.
• Knowledge of blockchain and virtual currency environment, including crypto market structure, spot trading, derivatives products, and perpetual swaps.

Culture & Benefits

• Performance-driven compensation with bonus programs and equity ownership.
• Supplemental health insurance, ancillary insurance, and mental health support programs.
• Lifestyle wallet for flexible employer-paid benefits spending (wellness, childcare, learning, and more).
• Generous time off including company holidays, paid time off, sick time, volunteer time off, and parental leave.
• In-office work with catered meals, events, and comfortable workspaces, plus a monthly commuter stipend.

Hiring process

• Application review followed by interviews to assess risk expertise, analytical capability, and stakeholder communication.
• Evaluation of fit for 2LOD oversight responsibilities and ability to challenge quantitative risk outputs.