Manager, Clearing Risk

Focused on developing products and services for the digital assets sector, Bullish has rewired the traditional exchange to benefit asset holders, enable traders and increase market integrity. Supported by the group’s treasury, Bullish’s new breed of exchange combines deep liquidity, automated market making and industry-leading security and compliance to increase the accessibility of digital assets for investors. Bullish exchange is operated by Bullish (GI) Limited and is fully regulated in Gibraltar.Mission: To make trading with digital assets more rewarding and secure.​Vision: To be the most innovative, respected, and trusted leader in crypto.

Reports to:

Head of Clearing

We are seeking a passionate and experienced Risk leader to head up the Risk function within the Bullish Clearing business.

Bullish is actively expanding its product offerings and is looking for an experienced Risk Lead to enhance our Risk management approach as we build out the Bullish Clearing business. In this role, you will work closely with multiple stakeholders across Bullish to advance strategic business initiatives which require the development of ongoing financial risk management approaches, methodologies and tools to both develop and operationalize the initiatives.

This position is an exciting opportunity for someone with a strong background in traditional finance who is seeking to apply such knowledge to the digital asset industry.

Role & Responsibilities

• Strategic Leadership

  • Work with the Head of Clearing to develop and execute the strategic vision for the risk management function in alignment with the overall clearing business strategy.

  • Build out approaches for risk management and assessment, including for model validation, parameter calibration, back testing, stress testing and default fund analysis to manage the risks to the clearing service as Bullish rolls out new products and initiatives.

  • Lead and mentor a team of risk professionals, fostering a culture of risk awareness, excellence, collaboration and continuous improvement.

• Risk Management Framework

  • Design, implement, and maintain comprehensive risk management frameworks, policies, and procedures tailored to the unique risks of a clearing business.

  • Ensure that risk management practices are aligned with regulatory requirements and industry best practices.

• Risk Identification, Assessment and Management

  • Oversee the identification, assessment, and monitoring of all risks related to clearing operations, including counterparty, credit, market, operational, liquidity, and systemic risks.

  • Develop and implement risk management strategies and policies to mitigate identified risks.

  • Monitor and report on risk exposures and ensure they are within the clearing business’ and overall Bullish risk appetite.

• Clearing Operations

  • Oversee the risk management aspects of clearing operations, including margin requirements, collateral management and default management

  • Collaborate with internal and external stakeholders to manage and mitigate risks

• Regulatory Compliance

  • Ensure compliance with all relevant regulatory requirements, such as EMIR, Dodd-Frank, Basel III, CPMI-IOSCO Principles for Financial Market Infrastructures (PFMIs), and other applicable regulations. 

  • Liaise with regulatory bodies and industry groups to stay abreast of regulatory developments and ensure the clearing risk management practices remain compliant.

• Risk Monitoring and Reporting

  • Develop and maintain risk metrics, dashboards, and reports to provide senior management, the board, and regulatory bodies with timely and accurate risk information.

  • Present risk assessments and mitigation strategies to senior management, the board, and regulatory bodies as required.

  • Develop and prepare regular risk reports for internal and external stakeholders

• Stakeholder Collaboration

  • Collaborate with internal stakeholders, including product management, compliance, operations, and IT teams, to ensure a holistic approach to risk management.

  • Provide risk management training and support to relevant staff when needed.

  • Act as a point of contact for risk-related queries from internal and external stakeholders, including project initiatives requiring risk input and requirements

  • Engage with external stakeholders, such as clearing members, counterparties, and industry groups, to manage and mitigate risks as appropriate.

• Crisis Management and Resolution

  • Lead the development and execution of crisis management and default management plans to address potential clearing member defaults or other significant risk events.

  • Coordinate with relevant teams to ensure effective resolution of risk events and minimize impact on the clearing business and Bullish Exchange.

• Innovation and Improvement

  • Drive innovation in risk management practices and tools, leveraging technology and data analytics to enhance risk identification and mitigation.

  • Continuously review and improve risk management processes to ensure they remain effective and efficient.

  • Continuous contribution to and progression of risk management culture within Bullish. 

Qualifications:

• Bachelor's degree in Finance, Economics, Business, or a related field. A Master's degree or professional certification (e.g., FRM, PRM, CFA) is highly preferred.

• Minimum of 10-15 years of experience in risk management, with a significant focus on clearing operations or financial market infrastructures.

• Proven track record of leadership and strategic management in a risk management role.

• In-depth knowledge of clearing processes, margining, collateral management, and default management.

• Strong understanding of regulatory requirements related to CCPs, such as EMIR, Dodd-Frank, Basel III, and CPMI-IOSCO PFMIs.

Skills and Competencies:

• Exceptional analytical and quantitative skills, with the ability to develop and interpret complex risk models.

• Excellent communication and presentation skills, with the ability to convey complex risk information to senior management, the board, and regulatory bodies.

• Strong leadership and team management skills, with the ability to inspire and develop a high-performing risk management team.

• Proficiency in risk management software and tools, as well as advanced Excel skills.

• Strong problem-solving skills and the ability to make sound decisions under pressure.

• High level of integrity, attention to detail, and a commitment to maintaining the highest standards of risk management.

• Experience in building and leading teams.

Additional Requirements:

• Ability to work in a fast-paced and dynamic environment.

• Strong organizational and time management skills, with the ability to manage multiple priorities.

• Commitment to continuous learning and professional development.

• In-depth knowledge of blockchain technology, crypto currencies, automated market makers and digital asset exchanges (both CEX and DEX) a plus.

• Passion for the digital asset industry, proactive approach to learning, and a keen interest in staying up-to-date with the latest trends and developments.

Bullish is proud to be an equal opportunity employer. We are fast evolving and striving towards being a globally-diverse community. With integrity at our core, our success is driven by a talented team of individuals and the different perspectives they are encouraged to bring to work every day.