Financial Risk Manager

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In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. For more information on Bullish, please visit https://bullish.com . CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.

Reports to:

Head of Clearing and Group Risk

Position Overview

Bullish is seeking an experienced, highly motivated and analytical Financial Risk Manager to join our team. This role will provide critical support to the Director of Financial Risk for both US & non-US Exchange activity while driving the risk program development of our new US risk derivatives intermediation business. The Financial Risk Manager will ensure the systemic risk controls and models meet all regulatory requirements, guidelines and principles while playing a critical role in protecting the company's assets, and supporting our strategic growth in a fast-paced, highly volatile market.

Responsibilities:

Risk Support and Analytics

• Stress Testing & Default Fund: Execute daily and intra-day stress tests (e.g., historical, hypothetical, and extreme but plausible scenarios) across the Bullish clearing business  to ensure the pre-funded financial resources (Cover 2) are adequate.

• Margin Validation: Assist in the ongoing independent review and validation of the Bullish margin models for crypto referenced derivative products. Propose adjustments to risk parameters and haircuts as market conditions evolve.

• Model Implementation: Work with Technology teams to ensure the Bullish risk measurement and control systems are accurately implemented and continuously function in compliance with regulatory requirements, guidelines and principles.

• Regulatory Reporting: Prepare analytical sections of periodic risk reports for the Board Risk Committee and external regulators.

Risk Program Development 

• Program Ownership: Assume ownership of the Bullish derivatives Risk Management Program (RMP), for the intermediation business, ensuring full compliance.

• Credit & Market Limit Setting: Oversee the methodology for calculating and setting pre-trade credit and capital thresholds for Bullish customers, managing segregated accounts appropriately.

• Segregation & Liquidity: Monitor and report on Segregation Risk, specifically on any residual interest buffer in customer funds, and develop robust liquidity contingency plans.

• Risk Identification & Assessment: Proactively identify and evaluate potential financial risks, including market risk, credit risk, liquidity risk, operational risk, legal risk, and inflation risk. Analyze new products, processes, and market developments to determine their impact on risk exposure.

• Risk Mitigation & Control: Develop and implement risk management strategies, policies, and procedures to limit risk exposure.

• Monitoring & Reporting: Continuously mon