Senior Derivatives Risk Control Specialist New Abu Dhabi, UAE

Bybit Limited; Abu Dhabi; On-site; AED 250,000 - 400,000; Full time

Benefits offered by this job

Study Growth Fund

Internal Events

Global Collaboration

Career Advancement

Internal Mobility

Job summary

Bybit Limited in the United Arab Emirates invites applications for a Derivatives Risk Engineer to design and refine the risk framework for the exchange's derivatives products, including pricing logic, risk parameters, and monitoring under stressed markets.

You will collaborate with product, market surveillance, and data teams, using Python for data analysis, backtesting, and model validation, and you’ll support risk controls across perpetuals, futures, and options.

Qualifications

• Bachelor’s degree or above in Finance, Math, Stats, CS, or related field.
• 3+ years of derivatives-related experience in finance or crypto risk.
• Deep understanding of perpetual contracts mechanics (funding rate, Mark Price, liquidation).
• Proficient in Python for data analysis, backtesting, and model validation.
• Solid foundation in probability theory and statistics (VaR, Expected Shortfall).

Responsibilities

• Design funding rate mechanisms for perpetual contracts and pricing logic.
• Contribute to futures settlement price methodology and anti-manipulation measures.
• Develop option pricing models and assess systemic risk for new listings.
• Set risk parameters like max leverage and position limits per instrument.
• Create risk monitoring rules and emergency response procedures for extreme events.
• Collaborate with product and Market Surveillance on risk controls.

Skills

Python

Data analysis

Backtesting

Model validation

Probability & statistics

VaR

Education

Bachelor's degree or above in Finance, Mathematics, Statistics, Computer Science, or related fields

Tools

SQL

Spark

Job description

About Us

Established in 2018, Bybit is one of the world’s leading cryptocurrency exchanges and digital financial platforms, serving over 80 million users across more than 200 countries and regions. Powered by world-class technology and a user-first mindset, Bybit delivers a seamless ecosystem across trading, payments, wealth management, custody, institutional services, and Web3 — connecting users to the future of digital finance.

Our core values define how we build. We listen, care and improve to create products and experiences that put users first. Backed by a global team of ambitious builders, problem-solvers, and innovators, we foster a high-performance and fast-moving environment where talent is empowered to drive real impact at the global scale. Supported by 24/7 multilingual customer service and a strong commitment to innovation, we are shaping the future of finance through technology, collaboration, and bold execution.

Today, Bybit is recognized as one of the most trusted and transparent platforms in the digital asset industry, continuing to expand its global presence while building the infrastructure for the next generation of financial services.

Position Overview

Responsible for building the underlying risk framework for the exchange's derivatives product line, covering pricing logic, risk parameter design, and monitoring mechanisms for perpetual contracts, futures contracts, options, and other products, ensuring risk controllability and system stability under extreme market conditions.

Core Responsibilities

Derivatives Underlying Financial Logic Design

• Design perpetual contract funding rate mechanisms, including billing frequency, upper/lower bounds, and premium index calculation logic
• Participate in futures contract settlement price methodology design, including TWAP/index source weighting and anti-manipulation mechanisms
• Design options product pricing models (Black-Scholes, volatility surface fitting) and assess systemic risk upon introduction

Risk Parameter Design & Iteration

• Develop maximum leverage, position limit strategies per instrument, dynamically adjusted based on market depth
• Design ADL (Auto-Deleveraging) trigger mechanisms and ranking rules, optimizing user experience and risk isolation effectiveness

Risk Monitoring & Alerts

• Design insurance fund utilization rules and replenishment mechanisms
• Develop circuit breaker contingency plans and emergency response procedures for extreme market events (flash crashes, liquidity crises)
• Monitor abnormal Mark Price deviations from spot index to prevent unreasonable liquidations

Cross-Department Collaboration

• Collaborate with product teams to define risk control admission criteria for new derivative listings (token liquidity, market cap, volatility thresholds)
• Participate in Market Surveillance to investigate suspected manipulation of liquidations, wash trading, pump-and-dump, and other market violations

Qualifications

Required

• Bachelor's degree or above in Finance, Mathematics, Statistics, Computer Science, or related fields
• 3+ years of derivatives-related experience, including traditional finance (futures/options market making, risk management) or crypto exchange risk management
• Deep understanding of perpetual contract mechanics (funding rate, Mark Price, liquidation logic) and differences from traditional futures
• Proficient in Python, capable of independently conducting data analysis, parameter backtesting, and model validation
• Solid foundation in probability theory and statistics, understanding of VaR, Expected Shortfall, and other risk measurement methodologies

Preferred

• Familiarity with options pricing theory, with experience in volatility smile/surface modeling
• Proficiency in SQL / Spark, able to independently query on-chain or exchange internal data

Why Join Us

At Bybit, we are committed to fostering a supportive and enriching work environment.

Our benefits include:

• - Study Growth Fund: We support your professional development and continuous learning.
• - Internal Events: Participate in regular team-building activities, workshops, and events designed to promote collaboration and innovation.
• - Global Collaboration: Be part of a diverse, international team, working alongside colleagues from around the world.
• - Career Advancement: Access opportunities for growth and advancement within a rapidly expanding global company.
• - Internal Mobility: Grow with us- Your long-term development is important to us. We offer internal job opportunities to help build your career path.