Front-Office Equity Volatility Risk Lead

Paragon Alpha - Hedge Fund Talent Business; New York (NY); On-site; USD 150,000 - 190,000; Full time

Job summary

Paragon Alpha seeks an experienced Equity Volatility Risk Manager to partner with Portfolio Managers across its equity volatility business. This front-office role focuses on optimizing risk-adjusted returns while maintaining a robust risk framework.

You will develop a deep understanding of volatility trading strategies, monitor risk factors such as delta, gamma, vega, and skew, and provide independent oversight of complex equity derivatives portfolios.

Qualifications

• 8-15 years in risk management at a hedge fund or similar environment.
• Strong understanding of option pricing theory and derivatives risk.
• Ability to engage credibly with Portfolio Managers
• Knowledge of Black-Scholes, implied/realised volatility, volatility surfaces and related Greeks.

Responsibilities

• Act as the primary risk partner to Equity Volatility PMs, providing independent oversight across options strategies.
• Develop understanding of trading strategies and portfolio construction to provide risk recommendations.
• Monitor and analyse exposures across delta, gamma, vega, theta, rho and other risk factors.
• Provide independent oversight of complex equity derivatives portfolios (single stock options, index options, ETFs, variance/volatility swaps).
• Conduct stress testing and scenario analysis for market dislocations and events.
• Evaluate portfolio construction, capital allocation, leverage and hedging strategies.

Skills

Front-office risk management

PM collaboration

Stress testing

Quantitative analysis

Option pricing

Job description

Paragon Alpha seeks an experienced Equity Volatility Risk Manager to partner with Portfolio Managers across its equity volatility business. This front-office role focuses on optimizing risk-adjusted returns while maintaining a robust risk framework.

You will develop a deep understanding of volatility trading strategies, monitor risk factors such as delta, gamma, vega, and skew, and provide independent oversight of complex equity derivatives portfolios.