Financial Risk Manager

Alpaca

Northern (KY)

Hybrid

USD 140,000 - 180,000

Full time

7 days ago

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Benefits offered by this job

Stock options

Home-office setup stipend

Job summary

Alpaca is a US-headquartered, global leader in brokerage infrastructure, expanding its Treasury function to manage liquidity risk and stress testing across a growing multi-market product suite. The Financial Risk Manager role focuses on building liquidity risk infrastructure, daily reporting, data pipelines, and alerting frameworks while collaborating across Treasury, Finance, and Risk.

This is a hands-on, largely IC position with potential growth into leadership.

Qualifications

2‑4 years experience in liquidity risk, treasury, financial risk, middle office, or balance sheet analytics within a broker‑dealer, bank, or fintech environment
Solid understanding of broker‑dealer liquidity and capital requirements, including SEC Rules 15c3‑1 and 15c3‑3
Hands‑on experience building or supporting liquidity reporting, data pipelines, and stress testing programs
Experience with intraday liquidity monitoring, stress testing, or real‑time risk reporting
Familiarity with Monte Carlo simulation techniques or probabilistic risk modeling
Familiarity with Treasury operations, cash management, and funding workflows in a regulated environment
Working knowledge of risk governance concepts and how Treasury and Risk functions interact in a broker‑dealer setting
Proficiency in SQL and Python (or similar) for data analysis, pipeline development, reporting automation, and working with large datasets

Responsibilities

Build and own daily liquidity reporting, ensuring timely, accurate views of firm liquidity positions across products and legal entities
Design and streamline data pipelines connecting Treasury, Finance, Operations, and clearing/settlement systems to reduce manual effort and improve data quality
Help maintain broker‑dealer liquidity reporting related to SEC Rule 15c3-1 (Net Capital), SEC Rule 15c3-3 (Customer Reserve), and related FINRA/SEC requirements
Partner with Engineering and Data teams to automate reporting workflows using SQL, Python, and BI platforms
Build and maintain real‑time and intraday liquidity monitoring capabilities to track cash positions, settlement flows, margin movements, and funding needs throughout the day
Establish intraday liquidity metrics, limits, and early warning indicators (EWIs); investigate breaches and prepare escalation materials for Treasury leadership
Support same‑day funding and treasury operations decisions with timely liquidity analysis during market hours
Develop and implement intraday stress testing capabilities to assess the impact of sudden market moves, margin calls, and disruptions
Run and refine intraday stress scenarios in coordination with Treasury Operations and Risk teams
Ensure intraday stress results are actionable for real‑time decision‑making
Build out the firm's longer‑term stress testing program, including scenario design, assumption documentation, model runs, and results reporting
Develop and update stress scenarios to assess impacts across multiple time horizons
Participate in integrated stress exercises and synthesize results for stakeholders
Review and challenge assumptions used in stress models; flag areas requiring remediation
Calibrate Monte Carlo simulation models and incorporate results into planning and risk limits
Design and implement alerting frameworks to notify leadership of breaches
Build out controls infrastructure to support governance, escalation, and audit trails
Prepare analysis and documentation for regulatory examinations and internal audits
Provide liquidity risk input in New Product Approval processes and stress-test margin engines

Skills

SQL

Python

Liquidity risk

Stress testing

Data pipelines

Treasury operations

Risk governance

Regulatory knowledge

Tools

BI platforms

Monte Carlo (tools)

Job description

Alpaca is a US-headquartered, global leader in agent-first brokerage infrastructurefor stocks, ETFs, options, crypto, fixed income, 24/5 trading, and more.

Amongst our subsidiaries, Alpaca is a licensed financial services company, serving hundreds of financial institutions across 40 countries with our institutional-grade APIs. This includes broker-dealers, investment advisors, wealth managers, hedge funds, and crypto exchanges, totalling over 10 million brokerage accounts.

Our global team is a diverse group of experienced engineers, traders, and brokerage professionals who are working to achieve our mission of opening financial services to everyone on the planet. We're deeply committed to open-source contributions and fostering a vibrant community, continuously enhancing our award-winning, developer-friendly API and the robust infrastructure behind it.

Alpaca is proudly backed by $400 million in funding from top-tier global investors including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Opera Tech Ventures, SBI Group, Derayah Financial, Unbound, Peak XV, Elefund, and Y Combinator.

Our Team Members:

We're a dynamic team of 400+ globally distributed members who thrive working from our favorite places around the world, with teammates spanning the USA, Canada, Japan, Hungary, Nigeria, Brazil, the UK, and beyond!

We're searching for passionate individuals eager to contribute to Alpaca's rapid growth. If you align with our core values—Stay Curious, Have Empathy, and Be Accountable—and are ready to make a significant impact, we encourage you to apply.

Your Role:

Alpaca is growing its Treasury function as we scale our product suite, global footprint, and self-clearing operations. We are looking for a Financial Risk Manager to support the development and day-to-day execution of Alpaca's liquidity risk monitoring and stress testing program.

This is a hands‑on, analytical role for someone who wants broad exposure across Treasury, Finance, Operations, and Risk. You will work closely with the Head of Treasury and partner cross functionally to help maintain sound liquidity governance and produce rigorous analysis under both business‑as‑usual and stressed conditions. This role is responsible for building out Alpaca's liquidity risk infrastructure from the ground up. You will establish daily liquidity reporting, streamline data pipelines, implement intraday monitoring and stress testing capabilities, develop longer‑term and Monte Carlo‑based stress testing frameworks, and build the alerting and controls needed to support Treasury decision‑making as Alpaca launches new products and expands into new markets.

While the title reflects managerial scope over liquidity risk and stress testing workstreams, this is primarily an individual contributor role with opportunity to grow into broader leadership as the function matures.

What You'll Do:

Key Priorities

This role will be responsible for building out the following core capabilities:
Daily liquidity reporting and streamlined data pipelines
Intraday liquidity monitoring
Intraday stress testing
Longer‑term stress testing
Monte Carlo simulations for stress testing
Alerting frameworks and other necessary controls
Daily Liquidity Reporting & Data Pipelines
Build and own daily liquidity reporting, ensuring timely, accurate views of firm liquidity positions across products and legal entities
Design and streamline data pipelines connecting Treasury, Finance, Operations, and clearing/settlement systems to reduce manual effort and improve data quality
Help maintain broker‑dealer liquidity reporting related to SEC Rule 15c3-1 (Net Capital), SEC Rule 15c3-3 (Customer Reserve), and related FINRA/SEC requirements
Partner with Engineering and Data teams to automate reporting workflows using SQL, Python, and BI platforms
Build and maintain real‑time and intraday liquidity monitoring capabilities to track cash positions, settlement flows, margin movements, and funding needs throughout the day
Establish intraday liquidity metrics, limits, and early warning indicators (EWIs); investigate breaches and prepare escalation materials for Treasury leadership
Support same‑day funding and treasury operations decisions with timely liquidity analysis during market hours

Intraday Stress Testing

Develop and implement intraday stress testing capabilities to assess the impact of sudden market moves, margin calls, settlement disruptions, and customer activity spikes on firm liquidity
Run and refine intraday stress scenarios in coordination with Treasury Operations and Risk teams
Ensure intraday stress results are actionable for real‑time decision‑making

Longer‑Term Stress Testing

Build out the firm's longer‑term stress testing program, including scenario design, assumption documentation, model runs, and results reporting
Develop and update stress scenarios — including market‑wide and tail‑risk events — to assess impacts on net capital, customer reserve, firm liquidity, and settlement flows across multiple time horizons
Participate in integrated stress exercises with Market Risk, Credit Risk, and Operational Risk teams and help synthesize results for Treasury and Risk stakeholders
Review and challenge assumptions used in stress models; flag areas requiring further review or remediation
Build and maintain Monte Carlo simulation models to complement deterministic stress testing and better capture the distribution of potential liquidity outcomes under adverse conditions
Calibrate simulation inputs, validate model outputs, and incorporate results into Treasury liquidity planning and risk limit setting

Alerting & Controls

Design and implement alerting frameworks to notify Treasury leadership of limit breaches, deteriorating liquidity metrics, and stress test threshold breaches
Build out the controls infrastructure necessary to support liquidity risk governance, including escalation protocols, documentation standards, and audit trails
Prepare analysis and documentation for regulatory examinations, internal audits, and management reporting; coordinate with the Risk team as needed

Cross‑Functional Support

Provide liquidity risk input in the New Product Approval (NPA) process, identifying potential funding and liquidity considerations for new asset classes, leveraged products, and international expansion
Partner with Engineering, Product, and Operations to help stress‑test margin engines, settlement workflows, and treasury systems
Contribute to ERM deliverables such as the Risk Register and Key Risk Indicators (KRIs) in coordination with the CRO and Risk team
Help document policies, procedures, and methodologies as the Treasury function scales
Stay current on regulatory developments, industry stress events, and emerging liquidity risks in fintech and digital asset markets

Who You Are (Must‑Haves):

2‑4 years experience in liquidity risk, treasury, financial risk, middle office, or balance sheet analytics within a broker‑dealer, bank, or fintech environment
Solid understanding of broker‑dealer liquidity and capital requirements, including SEC Rules 15c3‑1 and 15c3‑3
Hands‑on experience building or supporting liquidity reporting, data pipelines, and stress testing programs
Experience with intraday liquidity monitoring, stress testing, or real‑time risk reporting
Familiarity with Monte Carlo simulation techniques or probabilistic risk modeling
Familiarity with Treasury operations, cash management, and funding workflows in a regulated environment
Working knowledge of risk governance concepts and how Treasury and Risk functions interact in a broker‑dealer setting
Proficiency in SQL and Python (or similar) for data analysis, pipeline development, reporting automation, and working with large datasets
Strong attention to detail and ability to produce clear, well‑structured analysis for senior stakeholders
Comfortable working cross‑functionally in a fast‑paced, remote‑first startup environment

Who You Might Be (Nice‑to‑Haves):

Experience at a self‑clearing broker‑dealer or carrying/clearing firm
Experience building alerting, monitoring, or controls frameworks from scratch
Exposure to SPAN, TIMS, or margin methodologies and their liquidity implications
Familiarity with crypto/digital asset liquidity risk or 24/5 trading environments
Experience supporting SEC/FINRA examinations or internal audit requests
Knowledge of international regulatory frameworks across Alpaca's global subsidiaries
FRM, CFA, or similar certification (or in progress)
Prior experience in a high‑growth fintech where processes and frameworks are still being built

How We Take Care of You: