Risk Manager - Equity Vol

Millennium Management LLC; City Of London; On-site; GBP 80,000 - 120,000; Full time

Job summary

A leading investment management firm in London is seeking an experienced Risk Manager to enhance the risk management framework for equity derivatives. The ideal candidate should possess over 5 years of trading experience in equity derivatives, demonstrating strong analytical skills, leadership, and the ability to manage risk effectively in a dynamic environment. The role requires collaborating with technology groups to develop advanced risk management tools and communicating with senior management about performance and risks across portfolios.

Qualifications

• 5+ years of equity derivatives trading experience including options and VIX derivatives.
• Cross asset experience preferred including rates and FX derivatives.
• Strong quantitative and statistical analysis skills.

Responsibilities

• Drive risk management framework for equity derivatives portfolios.
• Set and monitor VAR, stress scenarios, and other risk limits.
• Communicate with business management regarding exposure tolerances.

Skills

Equity derivatives trading experience

Strong analytical skills

Leadership abilities

Programming skills (Python)

Interpersonal communication

Job description

Risk Manager - Equity Vol

We are searching for an experienced and dynamic professional to join our Equity Volatility and Funding Arbitrage risk team. In this position, they will be responsible for helping to drive the risk management framework for our equity derivatives portfolios in EMEA, ensuring robust risk controls, and driving initiatives to manage and mitigate risks effectively. The ideal candidate will have a background in trading equity derivatives (including exotics), strong analytical skills, and the ability to lead a small team in a fast-paced, complex trading environment. The position will be based in London with regional responsibilities.

Responsibilities

• Apply firm-wide risk management methodology for equity derivatives products and develop tools to monitor P&L and explain performance to senior management
• Interview prospective PMs, conduct risk surveys, suggest risk and capital limits
• Set and monitor VAR, stress, scenarios and other risk limits; resolve overages; and engage in regular discussions with PMs about their positions and portfolios
• Conduct regular reviews of existing PMs risk, portfolio, and capital usage. Report to senior management on performance and risk of PMs, including proactive alerting to management regarding vulnerabilities across the portfolio
• Communicate directly with business management when exposures grow beyond established tolerances
• Maintain a forward outlook on markets and event risks
• Collaborate closely with technology groups to develop and prototype new risk capabilities
• Build and enhance tools and models to manage risks across and explain P&L drivers across products in area of coverage

Qualifications

• 5+ years of equity derivatives trading experience; including options, variance swaps and VIX derivatives, and exotics
• 5+ years of equity derivatives/delta 1 trading experience; potentially including at dividends, funding spread, options, variance swaps and VIX derivatives, and exotics
• Cross asset experience including rates, FX and commodity derivatives preferred
• Strong interpersonal skills, with the ability to communicate effectively with stakeholders throughout the firm
• Proven leadership and team management responsibilities
• Strong quantitative, analytical, and statistical analysis skills
• Programming skills are a plus; preferred language is Python