Senior Risk Manager (Crypto)

Location: Chicago, United States; hybrid

Salary: $110,400–$220,800 per year, excluding bonus, equity, wellness allowance, and other US benefits.

Company

Payward is the parent company behind hirify.global and other businesses, building globally accessible financial infrastructure for an open financial system.

What you will do

• Oversee initial and variation margin models across futures, options, and swaps.
• Lead margin parameter recalibration, portfolio-based margin methodology reviews, back-testing, sensitivity analysis, and model performance assessments.
• Design and continuously refine historical, hypothetical, and reverse stress testing programs for the derivatives clearing organization.
• Monitor clearing member and clearinghouse exposures, including concentration, wrong-way, liquidity, and tail risks.
• Assess default waterfall, guaranty fund sizing, skin-in-the-game contributions, collateral sufficiency, and margin calls.
• Prepare risk reporting and collaborate with operations, technology, compliance, legal, senior leadership, the Risk Committee, and regulators.

Requirements

• 10+ years of risk management experience at a CFTC-registered Derivatives Clearing Organization, with direct ownership of margin or stress testing methodologies.
• Deep knowledge of CFTC Part 39 DCO Core Principles and familiarity with Parts 1, 22, and 190.
• Expertise in VaR, Expected Shortfall, scenario analysis, volatility modeling, portfolio risk aggregation, and margin model design and validation.
• Hands-on experience designing DCO-compliant stress testing programs, including liquidity stress tests and default management drills.
• Bachelor’s degree in Finance, Economics, Mathematics, Statistics, Engineering, or a related quantitative discipline; a Master’s degree is preferred.
• Excellent communication, judgment, documentation, and stakeholder management skills, including direct engagement with regulators and clearing members.

Nice to have

• Experience at a Futures Commission Merchant, including customer segregation, house versus customer margining, and FCM risk management.
• Experience with cleared derivatives across digital assets, interest rates, energy, agricultural products, metals, equity indices, or FX.
• Knowledge of default management auctions, hedging, and customer position porting.
• Experience supporting regulatory examinations, rule filings, or CFTC Part 40 product self-certifications.

Culture & Benefits

• Bonus and equity programs are available in addition to base salary.
• Wellness allowance and US medical, dental, vision, and 401(k) benefits are included where applicable.
• Applications are accepted on an ongoing basis unless a specific deadline is stated.
• Hiring decisions are based on merit, with a commitment to diversity and equal opportunity.

Hiring process

• Job-related skills or work-style assessments may be included.
• Assessment results are considered alongside experience and interviews and are not the sole basis for an employment decision.