AVP - Financial & Liquidity Risk

Coindcx; Bengaluru; Sur place; INR 3 500 000 - 7 000 000; Plein temps

Avantages offerts par ce poste

Design Your Own Benefits

Unlimited Wellness Leaves

Mental Wellness Support

Learning Sessions

Résumé du poste

CoinDCX seeks a senior risk professional to own the second-line framework for margin, collateral, and liquidity risk. You will lead independent reviews of fiat custody and counterparty controls, and drive backtesting against extreme events.

You will collaborate with Treasury and Growth to set ceilings, ensure regulatory alignment, and build an auditable risk-management culture across all spot, perpetual, and margin products.

Qualifications

• 8+ years of quantitative risk management experience at a crypto exchange or institutional trading desk.
• Deep working knowledge of multi-asset margin architectures and liquidation mechanics.
• Hands-on with Python/SQL for stress testing and data extraction.

Responsabilités

• Own second-line parameter-setting for margin, collateral, and liquidity risk.
• Lead independent reviews of fiat custody, client-fund segregation, and bank relations.
• Develop backtesting and stress-testing frameworks, publish Board-ready results.
• Establish policies and controls for liquidity risk and exposure management.

Connaissances

Quantitative risk management

Margin architectures

Python

SQL

Proof-of-Reserves

Formation

Bachelor's or Master's in a quantitative field

Outils

Python

SQL

Description du poste

The CoinDCX Journey: Building the Future of Finance:

At CoinDCX, our mission is clear - to make crypto and blockchain accessible to every Indian and enable them to participate in the future of finance.

As India’s first crypto unicorn valued at $2.45B, we are reshaping the financial ecosystem by building safe, transparent, and scalable products that power adoption at scale.

We believe that change starts together. It begins with bold ideas, relentless execution and people who want to build what’s next.

If you’re driven by purpose and thrive in environments where your work defines the next chapter of an industry, you’ll feel right at home here.

About the Role:

This role owns the balance-sheet safety, margin-engine logic, and liquidity resilience of the exchange. Reporting directly to the CRO, you hold independent second-line veto power over leverage tiers, liquidation parameters, counterparty limits, and liquidity buffers across all spot, perpetual, and margin trading products. You will replace ad-hoc parameter setting with a quantitatively backtested framework that protects the platform against systemic bad debt, market gaps, and bank runs. On liquidity, you set the methodology and the ceiling in partnership with Treasury, who continues to manage the balance sheet day to day — and you provide the independent second-line check on whether Treasury's fiat custody and client-fund segregation controls actually hold up, without taking over running them.

What You’ll Do:

Ongoing / BAU

• Maintain independent second-line ownership of initial margin (IM), maintenance margin (MM), auto-liquidation waterfall, and auto-deleveraging (ADL) parameters.
• Run a continuous monitoring cadence on bank and counterparty concentration, setting credit lines and collateral haircuts from internal rating models.
• Own the methodology and Board-set ceiling for liquidity coverage and stressed-withdrawal survival horizon, in partnership with Treasury, who continues to manage day-to-day liquidity execution.
• Run an independent second-line review of fiat custody adequacy — client fund segregation, banking safekeeping structure, reconciliation controls — challenging Treasury's controls rather than executing them.
• Provide second-line review and sign-off on new off-exchange settlement arrangements, custodial mirrors, and fiat payment rail dependencies before they go live.
• First stop and mandatory sign-off for any new banking, custody, or leverage-product decision before it's approved.
• Quarterly liquidity stress test, Proof of Reserves cycle, fiat custody adequacy review, and counterparty limit review, feeding the CRO's economic capital statement to the Board.
• Get an honest, evidence-based picture of current counterparty concentration and current margin/liquidation settings as set today by Growth and Trade Ops.
• Build and run the first historical gap-loss backtest of existing liquidation parameters against a real extreme-volatility event, to establish whether current settings are actually safe.
• Establish a baseline exposure matrix covering all banking partners, market makers, and stablecoin-issuer counterparties, mapped against the CoinDCX ERM Framework's three-tier appetite structure.
• Get a baseline picture of current fiat custody controls — how client funds are segregated, where they sit, and how reconciliation works today — to scope the first independent review.
• Publish and enforce a Board-approved Margin & Collateral Policy, formally transferring parameter-setting authority from Growth/Trade Ops to the second line.
• Implement a daily Liquidity Coverage Ratio monitor and a 72-hour stressed-withdrawal horizon model.
• Operationalize an auditable Proof of Reserves process matching assets to liabilities.
• Complete the first independent fiat custody adequacy review and report findings to the CRO/Board, with any gaps assigned an owner and a close-out date.
• Deploy a Risk-Limit Tier framework that adjusts maximum allowed leverage based on live order-book depth.
• Build an Insurance Fund sizing model tied to Value-at-Risk expectations across derivative books.
• Liquidity stress testing and bad-debt monitoring are standing quarterly disciplines, actively managed against Board-set ceilings.
• Fiat custody adequacy review is a standing quarterly discipline, not a one-off, with every prior finding closed and re-verified.

You’ll Excel in This Role If You:

• Have 8+ years of quantitative risk management experience at a tier-1 crypto derivatives exchange, prime brokerage, or institutional trading desk — treasury/ALM risk at a bank or NBFC is also relevant.
• Have deep working knowledge of multi-asset margin architectures, mark-price index construction, liquidation and ADL mechanics.
• Are hands-on with Python/SQL for stress simulation and data extraction, and understand Proof-of-Reserves methodology well enough to build one, not just review one.
• Have reviewed or audited fiat custody and client-fund segregation controls before — you know what "safe" actually looks like operationally, not just on paper.
• Hold a Bachelor's or Master's in a quantitative field, or equivalent hands-on experience.
• Have working knowledge of prudential liquidity/margin/custody expectations under relevant regimes (e.g. VARA, MiCA) to the extent they apply to in-scope entities.
• Can present a backtested case that changes a leverage limit — and make it stick with Growth and Trading leadership.
• Operate with genuine independence: you will be the person telling revenue-generating teams "no," backed by data.

You’ll Know You’re Winning When:

At 6 Months

• The Board has approved a formal Margin & Collateral Policy and counterparty exposure limits that didn't exist before.
• A credible, auditable Proof of Reserves process exists and has been run at least once.
• The first independent fiat custody adequacy review is complete, with findings reported and gaps assigned owners.
• Growth and Trade Ops are operating within — not setting — leverage and liquidation parameters.

At 12 Months

• Zero unmodelled bad-debt events during a market volatility spike since your process went live.
• Realized liquidation slippage matches your model's forecast within a tight, pre-agreed variance band.
• Fiat custody adequacy review runs on a quarterly cadence, and every gap from the first review is closed and re-verified.
• No leverage or margin parameter has changed without backtested data since your process went live.

Scope, Ownership & Boundaries (cross-referenced to the Risk Architecture)

• You own: 2nd-line parameter-setting for market/gap risk (leverage, collateral, liquidation) — moving this from Trading's self-set today to independent ownership per the CEX Risk Architecture's Pillar 1–2 model; credit/counterparty risk, which the CoinDCX ERM Framework already places with Risk; liquidity stress-testing methodology and Proof of Reserves.
• You coordinate closely with, but do not replace: Treasury, who the CoinDCX ERM Framework names as owner of the Liquidity and Fiat/Settlement risk metrics day-to-day — you own the stress-testing methodology and the ceiling; Treasury continues to manage the balance sheet and banking relationships inside it.
• Not this role: Trade Operations' execution of the liquidation waterfall (they execute inside your parameters, per the CoinDCX ERM Framework's 1st-line model); Finance's capital-funding decisions.

Why This Role Matters & What’s In It For You:

You gain the unique opportunity to establish the definitive "single source of truth" at scale, moving beyond mere reporting to drive high-stakes innovation in the Web3 space. This is a platform to exercise true ownership, where you will solve industry-defining challenges and elevate the organization's analytical maturity through visionary leadership and continuous analytical evolution.

Hiring Process:

Here’s what your journey with us looks like:

• Application Review – We assess for skills, alignment, and intent
• Recruiter Connect – A short conversation to understand you better
• Functional Round(s) – Deep dive into your approach, craft, and problem-solving
• Assignment / Simulation Round –
• A take-home task or live problem-solving exercise to understand how you think and execute in real scenarios
• Culture & Values Discussion – A conversation to understand our ways of working and how you thrive best
• Founder Conversation (Optional) – For certain roles and senior levels, you may meet our founders to explore strategic alignment and long‑term fit

Where We Work:

We believe the best ideas emerge when people build together. Collaboration, speed and trust come alive when teams share the same space.

With this belief, we operate as a work-from-office organisation. This role is based out of our Bangalore office, where energy, alignment and innovation move in real time.

Perks That Empower You:

• Design Your Own Benefits: Flexible perks to match your lifestyle
• Unlimited Wellness Leaves: Rest and recharge as you need
• Mental Wellness Support: Access to therapy and wellness resources
• Learning Sessions: Bi-weekly learning and growth opportunities

Ready to Build What’s Next?

If you’re looking for a role that gives you direct access to high-stakes decisions, deep impact and a chance to build the future of finance, this is it.

Join CoinDCX and help us make crypto accessible to every Indian, together.