Portfolio Risk - Fundamental Equity Long/Short Platform

JW Michaels & Co.; New York (NY); Hybrid; USD 180,000 - 300,000; Full time

Job summary

JW Michaels & Co. in New York is seeking an investment risk professional to own risk across the firm, focused on PM positioning and the firm’s risk stance rather than reporting.

You will build standard controls for PMs and raise issues directly with the investment team and senior leadership. You will oversee risk across strategies and holding periods, engage with portfolio managers, and contribute to portfolio construction in a hands-on, PM-facing role.

Qualifications

• Experience in investment risk across a hedge fund or similar PM-facing role.
• 8–15 years of hands-on risk experience; not a chief risk officer role.
• Proven track record engaging portfolio managers on positions, not just reporting.

Responsibilities

• Own risk limits and set the firm’s risk stance across strategies.
• Review positioning, exposure, concentration and leverage with PMs directly.
• Set risk parameters for new investment teams as they join the platform.
• Collaborate with the investment team on portfolio construction and risk integration.

Skills

Investment risk

Portfolio risk oversight

PM engagement

Risk analysis

Exposure and attribution

Stress testing

Tools

Barra

Axioma

RiskMetrics

FactSet

Bloomberg

Job description

An established New York hedge fund running fundamental equity long/short, including market neutral, is hiring a dedicated investment risk professional. The firm is a multi-PM platform and is actively adding portfolio managers.

The role

Ownership of investment risk across the firm. The emphasis is on oversight of portfolio manager positioning and setting the firm's risk stance, not on production of reports. You will build the standards portfolio managers run against and have the standing to raise issues directly with the investment team and senior leadership.

• Own risk limits and set the standards portfolio managers run against
• Review positioning, exposure, concentration and leverage, and engage directly with PMs on what you see
• Set risk parameters for each new investment team as it comes onto the platform, and assess how they take risk before capital is allocated
• Cover risk across the range of strategies and holding periods the firm runsWork alongside the investment team on portfolio construction

What we need

• Required: you have covered a fundamental equity long/short book, including market neutral. Backgrounds in fund of funds, manager selection, macro, credit-only, long-only or systematic strategies are not a fit for this particular seat.
• Investment risk experience at a hedge fund. This is a PM-facing investment seat, not a second-line control, compliance or model validation function.
• A track record of engaging portfolio managers on their positions rather than only reporting on them
• Roughly 8 to 15 years, and still hands-on. This is a working seat, not a chief risk officer role.
• Comfort across factor risk, exposure and attribution, stress testing and scenario analysis, and the standard toolset such as Barra, Axioma, RiskMetrics, FactSet and Bloomberg

Portfolio managers and risk takers looking to move into an oversight seat are encouraged to apply.

Location: New York City, four days per week in the office.