Chief Risk Officer

iRage; Mumbai; On-site; INR 4,000,000 - 7,000,000; Full time

Benefits offered by this job

Generous paid time off

Work with top talent

Annual offsite events

Performance bonuses

Health insurance

On-site workspace

Education allowance

Gym membership

Relocation support

Team challenges

Job summary

iRage is seeking a Chief Risk Officer to own risk across market, liquidity, technology, and operations. You will work with trading, quant, and engineering leadership, designing risk limits and monitoring systems for multiple portfolios across cash equities, futures, and options.

The role emphasizes proactive risk management, regulatory awareness, and collaboration with senior management to mitigate macro and execution risks across a high-frequency trading environment.

Qualifications

• 7+ years of experience in market or trading risk management.
• Strong quantitative background with derivatives, market microstructure, and liquidity dynamics.

Responsibilities

• Analyze trading patterns across strategies and set risk limits.
• Design and own risk-limit methodologies for firm strategies and products.
• Monitor live trading activity to detect anomalies and risks across processes.

Skills

Risk management

Market risk

Data at scale

Stakeholder mgmt

Python/SQL

Job description

iRage is one of India's leading high-frequency trading firms. We build and own everything in-house, from ultra-low-latency execution to our entire trading infrastructure. Our systems deliver some of the lowest latencies in the market, with order-send speeds under 100 nanoseconds - but the harder problem we've solved is keeping that latency low at scale. We run thousands of independent portfolios in parallel, carrying overnight positions across thousands of instruments, with tooling that coordinates state and information across hundreds of servers spanning multiple data centres in real time.

The stack is ours end to end: custom FPGA pipelines - including PHY and MAC layers we built on hardware firmware in-house - and a C++ codebase we control from market-data ingestion through order entry and risk. We run experiments over days just to shave off a single clock cycle.

But great technology alone doesn't move markets. Our quant and tech teams work side by side, and the results speak for themselves: millions of trades a day. To put that in perspective, we handle the equivalent of several Big Billion Days in a single day, every day, at lightning speed. iRage is where deep technical expertise meets real market impact, in one of the world's fastest-growing trading ecosystems.

Role Summary

The Chief Risk Officer owns risk across this entire book, market, liquidity, technology, and operational. iRage deploys a diverse range of proprietary strategies including market-making, market-taking, and mid-frequency arbitrage, across India's cash equities, futures, and options. The trading activity spans every active domestic segment, ranging from highly liquid short-dated index options to less liquid, longer-dated contracts. In these illiquid spaces, iRage frequently acts as the pioneering liquidity provider responsible for establishing fair pricing while maintaining a significant open-interest position. Hundreds of portfolios carry overnight positions across thousands of instruments simultaneously. The role will report directly to the CEO/Founders, working closely with trading, quant, and engineering leadership.

• Analyze historical and continual trading patterns of different strategies across instruments of varying liquidity profiles, and set appropriate risk limits accordingly. Design and own risk limit methodologies across the firm's strategies and instrument categories.
• Create robust infrastructure and system to monitor live- trading activity that can: detect anomalies, including trading risk (market and liquidity risk), technology risk (hardware defects, network latency issues), and trading behaviour imperfections (order/trade ratios, orders placed at prices far from market, critical exchange rejects, etc), strategy risk monitoring (flagging when a strategy behaves outside expected market conditions), operational risk monitoring (feed delays, stale quotes, exchange issues, system-level alerts), strategy misfire detection (abnormal fills, wrong-side quoting, sudden quote instability, unexpected exposure build-up), inventory and delta view (real-time inventory pressure, directional exposure, risk concentration across symbols), slippage and execution-quality monitoring (adverse selection, poor fills, spread leakage, execution drift), and a company-level risk view (across strategies, symbols, venues, and risk states).
• Work with trading teams to diagnose causes of trading downtime and partner with other stakeholders to reduce it.
• Partner with senior management to identify macro risks - longer-term shifts in market share and category exposure, and regulatory risk. Track external market and regulatory developments and translate them into risks relevant to iRage's trading activity.
• Improve risk processes and procedures, and partner with engineering on risk-related data pipelines and dashboards. Identify and close process gaps that contribute to operational risk incidents.
• Own and enhance the certification process for every new strategy instance against operational benchmarks (e.g., trading behaviour while run against exchange simulators), profitability benchmarks (performance relative to market conditions), and market risk benchmarks (risk taken relative to profitability).
• Manage risks tied to holding positions under instrument-specific constraints (e.g., MWPL bans in the F&O segment, and similar regulatory/exchange-level triggers).
• Work with the data team to fine-tune APIs that respond to compliance queries from the exchanges.

What we're looking for

• 7+ years of experience in market risk, trading risk, or quantitative risk management, with meaningful exposure to high-frequency or algorithmic trading environments; prior experience at a prop trading firm, HFT firm, or the risk desk of a broker/exchange is strongly preferred.
• Strong quantitative background with a solid grasp of derivatives (futures and options across index and stock products), market microstructure, and liquidity dynamics across cash equity and F&O segments.
• Comfort working with data at scale: ability to partner with engineering on dashboards and pipelines, and enough technical fluency (SQL/Python or similar) to independently analyze trading data rather than relying solely on built tooling.
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• Working knowledge of Indian market regulations relevant to proprietary trading and F&O segments (SEBI, exchange circulars, position limits/MWPL, surveillance norms).
• Strong stakeholder management skills; this role sits at the intersection of trading, technology, and senior management, and requires the judgment to translate technical/market signals into clear risk decisions.
• High ownership mindset and comfort operating in a fast-paced, technically deep environment where risk decisions have immediate P&L and operational consequences.

Here’s what we offer:

• Generous paid time off – Recharge & come back sharper.
• Work with the best – Collaborate with top-tier global talent.
• Adventure together – Annual offsites (international & domestic) plus regular team outings.
• Performance rewards – Attractive bonuses for those who go above & beyond.
• Health covered – Comprehensive insurance so you’re always protected.
• Fun, not just work – On-site sports, games, & a lively workspace.
• Learn & lead – Regular knowledge-sharing sessions led by your peers.
• Annual Education Allowance – Take any external course, or certification that makes you better at your craft.
• Stay fit – Gym memberships with equal employer contribution to keep you at your best.
• Relocation support – Smooth move? We’ve got your back.
• Friendly competition – Work challenges & extracurricular contests to keep things exciting.