Long / Short Equity Risk Manager

Paragon Alpha - Hedge Fund Talent Business; New York (NY); On-site; USD 220,000 - 320,000; Full time

Job summary

Paragon Alpha - Hedge Fund Talent Business in New York seeks an experienced Long/Short Equity Risk Manager to partner directly with Portfolio Managers and senior investment leadership. The role focuses on risk oversight across the investment lifecycle, including portfolio construction, concentration, liquidity, and performance attribution.

The ideal candidate has 8-15 years of investment risk experience, with strong knowledge of Fundamental Long/Short Equity and factor models (Barra/Axioma).

Qualifications

• 8-15 years' experience in investment risk roles (hedge funds preferred).
• Strong experience covering Fundamental Long/Short Equity strategies.
• Proven track record partnering directly with Portfolio Managers.
• Excellent understanding of portfolio construction and equity risk management.
• Expertise with factor models such as Barra and/or Axioma.
• High-level analytical and quantitative skills.
• Excellent communication and ability to challenge senior investment professionals constructively.

Responsibilities

• Partner closely with Portfolio Managers to oversee fundamental Long/Short Equity strategies.
• Provide proactive risk oversight throughout the investment lifecycle from idea generation to implementation.
• Review and challenge investment theses while maintaining collaboration.
• Participate in portfolio reviews and investment discussions with PMs and senior leadership.
• Advise on portfolio construction, concentration, liquidity, sizing, and capital deployment.
• Monitor exposures across market, factor, sector, country, style, and idiosyncratic risk.

Skills

Risk management

Long/Short equity

Python

SQL

Portfolio construction

Communication

Quantitative analysis

Stakeholder collaboration

Tools

Barra

Axioma

Python

SQL

Job description

Our client is a leading multi-strategy investment manager with a strong track record of attracting elite portfolio management talent across discretionary and systematic investment strategies. The firm is looking to appoint an experienced Long/Short Equity Risk Manager to partner directly with Portfolio Managers and Senior Investment Leadership in New York.

Key Responsibilities

Front Office Partnership

• Partner closely with Portfolio Managers covering fundamental Long/Short Equity strategies.
• Provide proactive risk oversight throughout the investment lifecycle, from idea generation through to portfolio implementation.
• Challenge investment theses where appropriate whilst maintaining a collaborative, solutions-oriented approach.
• Participate in portfolio reviews and investment discussions with PMs and senior leadership.
• Advise PMs on portfolio construction, concentration, liquidity, sizing and capital deployment.
• Monitor market, factor, sector, country, style and idiosyncratic risk exposures across equity portfolios.
• Analyse gross and net exposure, beta, leverage, factor tilts and concentration risk.
• Assess liquidity profiles and potential exit scenarios under stressed market conditions.
• Perform scenario analysis, stress testing and sensitivity analysis around macroeconomic and market events.
• Review correlation structures and diversification across portfolios.
• Monitor exposure to earnings events, corporate actions and event-driven catalysts.
• Develop and enhance risk reporting used by Portfolio Managers and senior management.
• Utilise Barra, Axioma and proprietary analytics to assess portfolio risk.
• Identify emerging risk themes across the platform and communicate recommendations effectively.
• Work alongside Quantitative Research and Technology teams to improve risk infrastructure and analytics.
• Support the continuous enhancement of risk methodologies and portfolio monitoring tools.

Cross-Functional Collaboration

• Liaise with Trading, Financing, Operations and Technology teams to ensure robust portfolio oversight.
• Contribute to firmwide risk projects and strategic initiatives.
• Assist with ad hoc analysis requested by senior management during periods of heightened market volatility.

Requirements

• 8-15 years' experience within an Investment Risk role at
• Strong experience covering Fundamental Long/Short Equity strategies.
• Experience partnering directly with Portfolio Managers in a hedge fund.
• Excellent understanding of portfolio construction and equity risk management.
• Strong knowledge of factor models including Barra and/or Axioma.
• Strong analytical and quantitative skills.
• Advanced Python, SQL or similar programming skills would be advantageous.
• Excellent communication skills with the confidence to challenge senior investment professionals constructively.