Head of Financial Risk Management Bitnomial
Payward, Inc. is the parent company and operating platform behind Kraken and a portfolio spanning trading, custody, payments, lending, tokenized assets, onchain finance, and benchmarks.
Funding history
Investors
Projects
About Payward, Inc.
Payward operates unified financial infrastructure across crypto and traditional markets, including shared liquidity, risk and margin systems, collateral and settlement, compliance, and licensing. Its first-party portfolio includes Kraken, Kraken Pro, NinjaTrader, Breakout, xStocks, Payward Services, CF Benchmarks, Reap, Krak, Kraken Prime, Kraken OTC, Kraken Custody, and Bitnomial.
Skills
Candidate Availability
Required and preferred rules are kept separate and reflect the wording in the original posting.
About the Role
You will lead the design, calibration, monitoring, and governance of margin models, market-risk methodologies, and stress-testing programs. You will assess clearing-member exposures, produce risk reporting, support regulatory engagements, maintain model documentation, and enhance real-time risk-monitoring tools with operations and technology partners.
Requirements
- At least 10 years of risk management experience at a CFTC-registered DCO
- Direct ownership of margin or stress-testing methodologies
- Knowledge of CFTC regulations and Part 39 DCO Core Principles
- Expertise in VaR, Expected Shortfall, scenario analysis, volatility modeling, and portfolio risk aggregation
- Experience with margin model design and validation
- Experience designing and executing DCO stress-testing programs
- Bachelor's degree in a quantitative discipline
- Written and verbal communication skills
- Ability to present complex risk concepts to executives, board members, and regulators
- Experience engaging with regulators, clearing members, and senior stakeholders
Responsibilities
- Monitor initial and variation margin models across cleared products
- Recalibrate margin parameters and document model changes
- Evaluate and enhance portfolio-based margining methodologies
- Conduct back-testing, sensitivity analysis, and model performance reviews
- Design and refine stress-testing programs
- Monitor clearing-member and clearinghouse market-risk exposures
- Assess default waterfall, guaranty fund, and skin-in-the-game adequacy
- Produce risk reporting for management, the Risk Committee, and regulators
- Ensure compliance with CFTC DCO Core Principles
- Serve as a liaison to regulators
- Maintain model risk management documentation
- Conduct financial and operational risk reviews of clearing members
- Monitor exposures, margin calls, and collateral sufficiency
- Enhance real-time risk monitoring tools and dashboards
Benefits
- Bonus program
- Equity program
- Wellness allowance
- Medical insurance
- Dental insurance
- Vision insurance
- 401(k)
Hiring Process
Job-related skills or work-style assessment may be requested.
