Financial Risk Product Manager

Bitget; Hong Kong; On-site; HKD 900,000 - 1,300,000; Full time

Job summary

Bitget Limited, a leading universal crypto exchange, is hiring for a Clearing/Risk Management specialist in Hong Kong. The role focuses on insurance fund management, liability settlements, and clearing model design to integrate crypto and traditional markets within a unified account framework.

You will implement technical specifications, participate in pre-launch validation, and perform post-event analysis to align with Finance.

Qualifications

• 5+ years of experience in clearing, settlement, or risk management.
• Experience in traditional clearing or forced liquidation is a plus.

Responsibilities

• Insurance Fund Management: design rules for position takeover during liquidations and fund adequacy mechanisms.
• Liability Settlement & Default Waterfall: design post-liquidation settlement mechanisms and asset haircuts.
• Clearing Model Design & Iteration: optimize clearing models for crypto and stock options integration across 24/7 markets.
• Implementation & Cross-functional Collaboration: translate rules into technical specs for R&D and validation.
• Post-Event Analysis & Calibration: attribute losses and back-test model parameters after extreme events.

Skills

Excellent communication skills

Excellent documentation

Education

Bachelor’s degree or above in Financial Engineering/Finance/Math/Stats/CS

Tools

SQL

Python

Excel

Job description

• Futures company breach and risk reserve management
• Establish mechanisms for fund adequacy assessment
• Deep understanding of the linkage between margin

About us

Bitget is the world's largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 100+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution.

Bitget is driving crypto adoption through strategic partnerships with LALIGA and MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry's lowest fees and highest liquidity across 150 regions worldwide.

What you'll do

• Insurance Fund Management: Design rules for position takeover during user liquidations (takeover pricing logic, position disposal/hedging, risk exposure limits). Establish mechanisms for fund adequacy assessment, water-level warnings, and replenishment.
• Liability Settlement & Default Waterfall: Design post-liquidation settlement mechanisms, including clearance priority and multi-currency deduction sequences (Own Assets → Cross-Currency Conversion → Insurance Fund → Socialized Loss Sharing). Define asset haircut rules, platform liability ledgers, recovery processes, and bad debt write-off protocols.
• Clearing Model Design & Iteration: Optimize existing crypto clearing models (liquidation triggers, partial/full liquidation, extreme market degradation strategies). Lead the design of clearing models for Stock Options integration, addressing scenarios such as seller obligation clearance, exercise assignment, portfolio margin constraints (no single-leg liquidation), underlying suspensions, and corporate actions. Ensure seamless coexistence of 7×24 crypto markets and T+1 traditional markets within the Unified Account system.
• Implementation & Cross-functional Collaboration: Translate clearing rules into technical specifications (state machines, sequencing, exception handling) ready for R&D implementation. Participate in technical reviews and pre-launch validation. Take ownership of grading and resolving live clearing anomalies.
• Post-Event Analysis & Calibration: Conduct loss attribution after extreme market events, perform model parameter back-testing, and verify historical liquidation results. Align clearing outcomes with Finance teams to ensure consistent accounting standards.

What you'll need

• Bachelor’s degree or above in Financial Engineering, Finance, Mathematics, Statistics, or Computer Science; 5+ years of experience in clearing, settlement, or risk management.
• Proven experience in traditional financial institution clearing or forced liquidation. Must have expertise in at least one of the following:

1. Margin trading forced liquidation and client liability management at securities firms.
2. Futures company breach and risk reserve management.
3. End-of-day clearing and Default Waterfall management at exchanges or Central Counterparties (CCPs).

• Deep understanding of the linkage between margin and clearing (Maintenance Margin, Bankruptcy Price vs. Takeover Price, liquidation priority, loss absorption layers). Familiarity with options clearing and settlement mechanisms (exercise assignment, obligation risks, expiry handling).
• Strong accounting awareness; ability to map clearing results into clear Asset/Liability/P&L structures. Proficient in SQL for data extraction and Python/Excel for model calculation and stress testing.
• Excellent documentation and communication skills; ability to define clearing rules at a granularity ready for coding and clarify responsibility boundaries in cross-departmental reviews.

Why Bitget?

• Bitget is the world's leading web 3 platform for copy trading and one of the world's largest and most respected exchanges
• We are a global company with staff members from over 50 different countries and regions
• We are growing and looking for world-class ambitious talents to help us continue this journey
• We have a streamlined structure that empowers employees to work efficiently, delivering the best results in a short timeframe
• We offer competitive salaries and benefits
• Blockchain technology and digital assets have the potential to change finance in a way no other technology can - be part of it!

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