Director of Market Risk Operations

Summary

Join Alpaca, a leading brokerage infrastructure technology company, as the Director of Market Risk Operations. Oversee market risk across various products and asset classes, focusing on initiatives within a regulated broker-dealer, including designing and overseeing a portfolio margin program. Support risk policy development across other business lines. Develop comprehensive market risk policies, ensure alignment with regulatory expectations, and coordinate across business units. Define market risk reporting to senior leadership and support teams in interpreting risk signals. Guide the development of risk analytics and modeling tools and work with engineering and data teams to ensure infrastructure supports real-time risk monitoring. This role requires collaboration with multiple teams and strong communication skills.

Requirements

• Bachelor’s degree in Finance, Business, Data Science, Statistics, or a related field
• 8+ years of experience in market or margin risk management across asset classes, with direct experience in a FINRA-regulated broker-dealer environment
• FINRA Series 7 (or must be obtained within 3 months of employment)
• Proven track record of building or managing a portfolio margin program
• Deep understanding of market risk drivers, including volatility, concentration risk, and liquidity
• Familiarity with regulatory requirements including FINRA 4210 and SEC capital rules
• Experience collaborating across trading, compliance, product, and engineering teams
• Strong communication skills and ability to influence across organizational levels
• Strong understanding of financial markets, trading operations, and brokerage services
• High ethical standards and a commitment to maintaining confidentiality

Responsibilities

• Lead the development and implementation of a portfolio margin program, including eligibility criteria, stress testing methodology, and escalation protocols
• Establish and maintain surveillance and risk monitoring procedures for accounts utilizing portfolio margin
• Develop comprehensive market risk policies across equities, derivatives, and digital assets
• Ensure frameworks are aligned with regulatory expectations (e.g., FINRA Rule 4210) and internal risk appetite
• Coordinate across business units to ensure consistent application of risk controls across asset classes and regions
• Define the cadence and structure of market risk reporting to senior leadership, covering concentrations, sensitivities, and stress exposures
• Support business and product teams in interpreting and responding to risk signals
• Guide the development of risk analytics and modeling tools to evaluate market exposures
• Work with engineering and data teams to ensure infrastructure supports real-time risk monitoring

Benefits

• Competitive Salary & Stock Options
• Health Benefits
• New Hire Home-Office Setup: One-time USD $500
• Monthly Stipend: USD $150 per month via a Brex Card