Long/Short Equity Risk Analyst

Paragon Alpha - Hedge Fund Talent Business; New York (NY); On-site; USD 110,000 - 180,000; Full time

Job summary

Paragon Alpha - Hedge Fund Talent Business is seeking an Equity Risk Analyst to support its Long/Short Equity platform with focus on externally managed SMAs. You will collaborate with portfolio managers, external investment managers and internal risk teams to assess exposures and monitor risk within established parameters.

The role offers exposure to diverse equity strategies and the opportunity to contribute to the firm’s portfolio risk management framework by developing analytics, reports and

Qualifications

• 2–5 years of equity risk/portfolio risk experience.
• Strong understanding of Long/Short Equity, risk factors, liquidity.
• Experience with external manager oversight or multi-manager platforms.
• Proficiency with Excel and data analysis tools.
• Ability to translate data into actionable insights.

Responsibilities

• Monitor and analyse risk across external Long/Short SMA managers.
• Evaluate portfolio exposures, including gross/net, factor sensitivities, and sector concentration.
• Conduct attribution and risk-return analysis to explain positioning and returns.
• Identify emerging risks and drawdown scenarios across managers.
• Produce risk reports and analytics for investment oversight.
• Engage with external managers about exposures and market risks.
• Support stress testing and scenario analyses on portfolios.
• Collaborate to enhance monitoring capabilities and reporting tools.
• Contribute to risk framework development for external manager platform.

Skills

Equity risk analysis

Portfolio risk management

Analytical skills

Stress testing

Communication skills

Tools

Excel

Portfolio analytics software

Risk management systems

Job description

A leading multi-strategy investment firm is seeking an Equity Risk Analyst to support its Long/Short Equity platform, with a particular focus on monitoring and evaluating risk across externally managed separately managed accounts (SMAs). The successful candidate will work closely with portfolio managers, external investment managers and internal investment and risk teams to assess portfolio exposures, identify emerging risks and ensure investment activity remains aligned with established risk parameters. The role offers exposure to a diverse range of fundamental equity strategies and provides the opportunity to contribute to the firm's broader portfolio risk management framework.

Key Responsibilities

• Monitor and analyse risk across a portfolio of external Long/Short Equity managers operating through separately managed accounts.
• Evaluate portfolio exposures, including gross and net exposure, factor sensitivities, sector and industry concentration, single-name risk and liquidity.
• Conduct performance attribution and risk-return analysis to understand portfolio positioning, strategy behaviour and key drivers of returns.
• Identify emerging risks, concentration build-ups and potential drawdown scenarios across individual managers and the wider equity portfolio.
• Produce regular risk reports and portfolio analytics to support investment oversight and senior management decision-making.
• Engage with external managers to understand portfolio positioning, investment strategies, changes in exposures and evolving market risks.
• Support stress testing, scenario analysis and sensitivity analysis across individual portfolios and aggregated exposures.
• Collaborate with internal investment, risk and technology teams to enhance monitoring capabilities, reporting processes and analytical tools.
• Contribute to the ongoing development of risk frameworks, limits and early-warning indicators across the external manager platform.

Candidate Requirements

• Approximately 2-5 years of experience in equity risk, portfolio risk, investment risk or a closely related analytical role.
• Strong understanding of Long/Short Equity strategies and the associated market, factor, concentration and liquidity risks.
• Experience analysing portfolio exposures, investment performance and risk metrics.
• Familiarity with separately managed accounts, external manager oversight or multi-manager investment platforms would be advantageous.
• Strong analytical skills and the ability to interpret complex portfolio data and translate findings into actionable insights.
• Proficiency in Excel and experience working with portfolio analytics or risk management systems.
• Programming experience in Python, SQL or similar tools would be beneficial.
• Strong communication skills, with the confidence to engage with investment professionals and challenge risk positions constructively.