Job Description: Front Office Risk Manager – First Line Risk
Overview
A leading global financial markets infrastructure business is seeking a Front Office Risk Manager to join its first line risk function. This is a high-impact role sitting close to senior management and the business, responsible for overseeing day-to-day risk management across a broad range of derivatives products and asset classes.
The ideal candidate will bring a rare combination of trading experience and market risk management expertise. They will be commercially minded, technically strong, and able to balance robust risk governance with the needs of a complex, fast-moving markets business.
This role would suit someone who has operated in a front office, market risk, clearing, exchange, hedge fund, or investment banking environment and is comfortable working with senior stakeholders on complex risk issues, model enhancement, risk infrastructure, and new product initiatives.
Key Responsibilities
- Oversee and enhance the day-to-day risk management framework for a complex derivatives-focused business.
- Identify opportunities to improve risk models, risk processes, controls, and infrastructure.
- Lead projects to design and implement enhancements to risk methodologies, systems, tools, and processes.
- Work closely with senior management, business stakeholders, risk committees, and external counterparties.
- Ensure the risk management framework and associated policies remain aligned with regulatory expectations, internal standards, and market best practice.
- Balance regulatory compliance, prudent risk management, and commercial business requirements.
- Monitor risk model performance, including backtesting, stress testing, and other model validation or performance assessment processes.
- Conduct quantitative analysis to support the calibration, refinement, and enhancement of risk models.
- Contribute to the development of risk policies, methodologies, and governance materials.
- Prepare clear documentation and presentations on risk models, policies, and frameworks for senior stakeholders, committees, regulators, and external participants.
- Conduct thematic research and ad hoc analysis on market risk topics, market events, emerging risks, and new products.
- Support the development of new risk initiatives that enhance business capability while maintaining strong risk controls.
- Provide guidance to analysts and junior colleagues, helping to foster a strong first line risk culture.
Candidate Profile
The successful candidate will ideally have experience in both trading and market risk management, with a strong understanding of derivatives, risk models, and front office decision-making.
They will be comfortable engaging with senior stakeholders, challenging existing approaches, and driving practical improvements to risk frameworks, models, and infrastructure.
Required Experience
- Previous experience in a front office risk, market risk, trading, or risk management role within an investment bank, hedge fund, clearing house, exchange, commodities business, or similar financial markets environment.
- Strong understanding of derivatives products across one or more asset classes, such as:
- Commodities, including oil, gas, power, or soft commodities
- Interest rates
- Equities
- Futures and options
- Other exchange-traded or cleared derivatives
- Proven experience applying market risk models and techniques, including some or all of:
- Value at Risk
- Stress testing
- Backtesting
- Liquidity risk modelling
- Margin or collateral methodologies
- Model performance monitoring
- Demonstrable ability to analyse complex risk problems and develop practical, well-structured solutions.
- Experience contributing to model, methodology, infrastructure, or process enhancement projects.
- Strong written and verbal communication skills, with the ability to explain technical risk issues clearly to senior management and non-technical stakeholders.
- Ability to work independently while contributing effectively to a collaborative team environment.
- Strong attention to detail, commercial judgement, and problem-solving ability.
Preferred Background
- Prior experience as a trader, structurer, or front office risk taker before moving into market risk or first line risk.
- Experience within clearing, exchanges, commodities, futures and options, or centrally cleared markets.
- Master’s degree or equivalent qualification in Mathematical Finance, Financial Engineering, Quantitative Finance, Mathematics, Physics, Engineering, Economics, or a related discipline.
- Experience with SQL and Python.
- Familiarity with regulatory expectations for market infrastructure, clearing, margin models, or financial risk governance.
Key Skills
- Front office risk management
- Market risk
- Derivatives
- Futures and options
- Trading experience
- Value at Risk
- Stress testing and backtesting
- Liquidity risk
- Risk model enhancement
- Quantitative analysis
- Risk governance
- Risk infrastructure
- Senior stakeholder management
- Python and SQL
Personal Attributes
- Commercially aware and risk-focused.
- Confident engaging with senior stakeholders.
- Able to challenge constructively and influence decision-making.
- Strong analytical and quantitative mindset.
- Pragmatic, delivery-focused, and comfortable leading projects.
- Able to operate effectively in a fast-paced, technically demanding environment.
- Committed to maintaining a strong risk culture.
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