Client Margin Risk & Business Optimization

Safra National Bank

New York (NY)

On-site

USD 150,000 - 190,000

Full time

14 days+

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Job summary

Safra National Bank seeks a Senior Manager of Margin Risk and Business Optimization to own the client margin ecosystem and govern house margin rules. This hands-on role requires building real-time exposure tracking, reducing back-office gaps, and aligning margin parameters with the firm’s Net Capital position.

Collaboration with Treasury and operations is essential for liquidity and risk control. The ideal candidate demonstrates 7–10 years in margin operations or credit risk within a

Qualifications

Minimum 7-10 years of direct experience in client margin operations, margin risk management, or credit risk.
Expert knowledge of FINRA Rule 4210, SEC Rules 15c3-1 and 15c3-3.
Deep understanding of clearing and settlement lifecycles for U.S. equities, options, stock borrow and loan, and international multi-currency execution.
Demonstrated success partnering with technology teams to implement automated margin calculation engines within modern Order Management Systems.

Responsibilities

Propose, formalize, and enforce the firm’s proprietary house margin rules and scale them by product risk and volatility.
Design and monitor risk parameters for complex derivatives and multi-leg strategies.
Lead the transition to dynamic, notional-based monitoring and establish controls for high-risk options.
Oversee real-time intraday margin surveillance and to ensure compliance with FINRA 4210(d)(2).

Skills

Margin risk management

Credit risk

FINRA Rule 4210

OMS integration

Regulatory compliance

Education

Bachelor’s degree in Finance, Economics, Mathematics, or related field

Tools

Order Management System (OMS)

Job description

About Safra National Bank of New York and Safra Securities

Safra Securities LLC is the self-clearing broker dealer fully owned subsidiary of Safra National Bank of New York (\"Safra National\"), a nationally chartered U.S. Bank supervised by the Office of the Comptroller of the Currency and member of the Federal Reserve and the Federal Deposit Insurance Corporation (\"FDIC\"). Headquartered in New York, with a branch in Florida and representative offices in Brazil, Chile, Mexico and Panama, Safra National is a leading private bank with a devoted team of relationship managers serving many sophisticated U.S. and international high net worth clients, with focus on Latin America.

Position Overview

We are seeking a highly commercial, analytical, and hands‑on Senior Manager of Margin Risk and Business Optimization to take full ownership of our client margin ecosystem. Acting as a critical link between active client trading and firm liquidity, this individual will be responsible for defining the risk guardrails that govern client leverage while maximizing the commercial profitability of our margin lending business.

This is a deep-domain, hands‑on role within a U.S.-registered, self-clearing broker-dealer undergoing rapid infrastructure growth. The successful candidate will design, propose, and implement sophisticated house margin frameworks, helping move the firm toward real-time exposure tracking while eliminating manual back-office gaps. Working closely with Treasury and Cash Management teams, this person will ensure that client risk parameters protect the firm’s Net Capital position and align with the firm’s Order Management System (OMS) upgrade roadmap.

Key Responsibilities

House Margin Frameworks: Propose, formalize, and enforce the firm’s proprietary house margin rules. Scale requirements dynamically based on product risk profiles, sector concentrations, and underlying stock volatility, ensuring rules exceed regulatory minimums under FINRA Rule 4210.

Derivatives & Multi-Leg Control: Design and monitor client risk parameters for complex, multi-leg options strategies, structural spreads, and high-velocity short positions.

Notional-Based Risk Transition: Lead the transition from legacy, static equity and option valuation models to dynamic, delta-adjusted, and notional-based monitoring frameworks. Establish strong risk controls for short, deep in-the-money (ITM), or zero days-to-expiration (0DTE) options approaching expiration to eliminate weekend settlement deficits.

Real-Time Intraday Surveillance: Operationalize and oversee compliance with the Intraday Margin Standard under FINRA Rule 4210(d)(2), monitoring client exposure in real time and issuing margin deficits before they create systemic risk.

2. Margin Business Management & P&L Optimization

Commercial P&L Ownership: Manage the margin business as a profit center. Structure competitive but risk-adjusted client margin loan interest rates, optimize inventory allocation for short sales, and maximize net interest margin (NIM) generated from client debit balances.

Stock Loan & Hypothecation: Work closely with Securities Lending teams to optimize the hypothecation of client margin securities, generating yield while keeping firm balance sheet exposure within prudent Aggregate Indebtedness (AI) thresholds.

Deficit & Liquidation Accountability: Direct real-time risk mitigation actions, including buy-ins, forced liquidations, and unsecured debit collections to protect the firm from absorbing client trading losses.

3. Treasury Collaboration & Operational Liquidity Interlocking

Bridging the Liquidity Gap: Coordinate daily with Treasury to manage the timing mismatch where the clearing house requires immediate firm capital funding, such as NSCC VaR charges and OCC STANS clearing margin, before final client settlement collection.

Large Order Pre-Funding / Step-Outs: Partner with Treasury to review institutional or outlier retail flow. Structure pre-funding requirements or execute Step-Out protocols with top-tier prime brokers when client trade size threatens to materially reduce the firm’s Excess Net Capital.

Capital Protection Alignment: Ensure all client margin lending parameters help protect the firm from sudden capital charges under SEC Rule 15c3-1 and support customer reserve computations under SEC Rule 15c3-3

4. Platform Transformation & Process Improvement

OMS Margin Core Design: Serve as the primary functional expert and stakeholder with product and engineering teams to integrate real-time risk and margin rules into the upcoming Order Management System (OMS) implementation.

Algorithmic Risk Blocks: Support the programmatic design and deployment of pre-trade concentration controls, automated risk liquidations, and fat-finger trade prevention blocks.

Elimination of Back-Office Workarounds: Identify, redesign, and replace legacy spreadsheet-based margin checking procedures with automated, system-driven calculation workflows.

Global Scale Integration: Collaborate with domestic and international teams to align margin engines with planned digital platform enhancements, supporting multi-currency accounts and global equity access.

Required Qualifications & Experience

Industry Experience: Minimum 7-10 years of direct experience in client margin operations, margin risk management, or credit risk within a U.S.-registered, self-clearing broker-dealer or prime brokerage environment.

Regulatory Expertise: Expert knowledge of FINRA Rule 4210, including strategy-based and portfolio margin standards, along with strong familiarity with SEC Rules 15c3-1 and 15c33.

Product Mechanics Mastery: Deep understanding of clearing and settlement lifecycles for U.S. equities, options, stock borrow and loan, and international multi-currency execution

Systems Transformation Experience: Demonstrated success partnering with technology teams to implement or configure automated margin calculation engines within modern Order Management Systems (OMS).