DRW is a technology-driven, diversified principal trading firm. We trade our own capital at our own risk, across a broad range of asset classes, instruments and strategies, in financial markets around the world. As the markets have evolved over the past 25 years, so has DRW – maximizing opportunities to include real estate, cryptoassets and venture capital. With nearly 900 employees at our Chicago headquarters and offices around the world, we work together to solve complex problems, challenge consensus and deliver meaningful results. It is a place of high expectations, deep curiosity and thoughtful collaboration.
The Risk Management team is responsible for measuring the risk of the firm at all aggregation levels and any time horizon, monitoring and disseminating risk at appropriate aggregation levels, and ensuring DRW has procedures and operational controls in place which align with regulatory requirements and industry standards. Risk managers act as an independent check on trading desks. In collaboration with the desk and partners, risk managers are responsible for parameterizing desk's risks analytical terms such as VaR, DV01, factor models, and option sensitivities. Risk managers utilize the Risk Development and Operations team to build and automate the measurement, monitoring, and dissemination of risk to desks and senior management across the firm.
We are looking for an outstanding Head of Risk Operations with diverse skills to join our Risk Development and Operations team. The Head of Risk Operations will establish and manage an effective control environment to operate applications and tools used to administer and govern trading desks’ adherence to risk parameters and limits.
- Daily reconciliation of all risk analytic measures including but not limited to P&L, VaR, DV01, factor models, and option sensitivities
- Develop and automate the operational framework and controls to monitor and disseminate VaR, option sensitivities, and risk limits across the firm
- Manage processes and tools to measure and correct model performance and accuracy
- Navigate technical issues and engage technical personnel and systems to find optimal, reproducible, and automated solutions
- Collaborate with risk managers, traders, and senior management to respond to market driven disruptions
- Align the firm’s strategic objectives with industry best practices, laws, and regulations
Required Experience and Skills:
- Bachelor’s degree in finance, economics, another quantitative field or material equivalent exposure
- Five or more years of experience in a detail-oriented role in the financial markets industry, specifically in a middle office or risk management capacity
- Prior experience implementing and managing an effective operational control environment, including VaR and stress testing production and VaR backtesting
- Must have strong technical aptitude and be highly proficient in MS Excel, querying databases, and programming experience in Python, R, SQL
- Familiarity with:
- Relational database management systems and data warehouses
- Exchange traded financial assets, statistics, or financial engineering
- Strong initiative and a proven track record of independently driving projects to completion
- Excellent problem-solving and debugging skills
- Strong attention to detail