Equity Volatility Risk Manager

Paragon Alpha - Hedge Fund Talent Business; New York (NY); On-site; USD 180,000 - 300,000; Full time

Job summary

Paragon Alpha - Hedge Fund Talent Business is seeking an Equity Volatility Risk Manager to monitor and control risk across equity volatility portfolios, with emphasis on single-stock options and volatility strategies.

In a front-office setting, you will work directly with portfolio managers and traders to assess exposures, run stress tests and develop analytics to support disciplined risk-taking and informed trading decisions.

Qualifications

• 8+ years of risk management experience in hedge funds, prop trading, or banks.
• Strong understanding of equity derivatives, options pricing and volatility trading.
• Experience analysing single-stock options and volatility exposures (Greeks, vega, skew, surfaces).
• Proficient in stress testing, scenario analysis and portfolio risk measurement.
• Able to engage with portfolio managers and traders in a fast-paced front-office environment.
• Strong quantitative and analytical skills, with data analysis proficiency.
• Excellent communication to discuss complex risk matters with investment professionals.

Responsibilities

• Monitor and manage risk across equity volatility portfolios, focusing on single-stock options and volatility strategies.
• Analyse portfolio exposures, including Greeks, implied volatility, skew, correlation and vega.
• Conduct scenario analysis and stress testing to assess performance under different markets.
• Collaborate with portfolio managers and traders to evaluate positions and support trading decisions.
• Develop and enhance risk analytics, reporting tools and monitoring frameworks for transparency.
• Assess concentration, liquidity, event and gap risks across positions and portfolios.
• Challenge risk-taking and provide independent insights into exposures and downside scenarios.
• Contribute to development of risk infrastructure, methodologies and processes as the business evolves.

Skills

Equity volatility risk management

Hedge fund risk experience

Derivatives pricing & volatility

Greeks, vega, skew analysis

Stress testing & scenario analysis

Front-office collaboration

Quantitative analysis

Communication with investment teams

Tools

Risk systems

Data analysis tools

Job description

A leading multi-strategy investment firm is seeking an Equity Volatility Risk Manager to support its equity volatility business. The role will focus on monitoring and managing risk across single-stock volatility strategies, working closely with portfolio managers and traders to assess exposures, optimize portfolio construction and ensure disciplined risk-taking.

This is an opportunity for a technically strong risk professional to operate in a dynamic, front-office environment with direct exposure to investment decision-making.

Key Responsibilities

• Monitor and manage risk across equity volatility portfolios, with a particular focus on single-stock options and volatility strategies.
• Analyse portfolio exposures, including Greeks, implied volatility, volatility skew, correlation, vega and other relevant risk measures.
• Conduct scenario analysis, stress testing and sensitivity analysis to assess portfolio performance under different market conditions.
• Partner closely with portfolio managers and traders to evaluate positions, identify emerging risks and support informed trading decisions.
• Develop and enhance risk analytics, reporting tools and monitoring frameworks to improve transparency and risk oversight.
• Assess concentration, liquidity, event and gap risks across individual positions and broader portfolios.
• Challenge risk-taking where appropriate, providing independent insight into portfolio exposures and potential downside scenarios.
• Contribute to the ongoing development of risk infrastructure, methodologies and processes as the business evolves.

Candidate Requirements

• 8+ years of experience in risk management within a hedge fund, proprietary trading firm, investment bank or similar financial institution.
• Strong understanding of equity derivatives, options pricing and volatility trading strategies.
• Practical experience analysing single-stock options and volatility exposures, including Greeks, vega, skew and volatility surfaces.
• Strong knowledge of stress testing, scenario analysis and portfolio risk measurement.
• Ability to work directly with portfolio managers and traders in a fast-paced, front-office environment.
• Strong quantitative, analytical and problem-solving skills, with proficiency in risk systems and data analysis tools.
• Excellent communication skills and the confidence to engage with investment professionals on complex risk matters.