Risk Manager

Job Description
Risk Manager Options & Derivatives
About Alaric Securities
Alaric Securities is an international financial services firm with a global presence, specialising in financial markets, brokerage services, and technology-driven market access.
Role Overview
We are looking for an experienced Risk Manager Options & Derivatives to oversee options-related market risk during regular US options trading hours.
The primary responsibility is to monitor options positions, analyse portfolio exposures, assess the impact of market movements and volatility, and ensure that risks remain within approved limits. The role requires a strong understanding of options Greeks, non-linear risk, portfolio sensitivities, and risk mitigation techniques.
In addition to options risk management, the individual will provide backup support for routine Risk Operations activities and contribute to risk reporting, analytics, governance, and process improvement.
Key Responsibilities
1. Options & Derivatives Risk Management
Monitor options portfolios and assess how changes in underlying asset prices, implied volatility, and time to expiry affect risk exposures.
Analyse options Greeks, including Delta, Gamma, Vega, and Theta, to understand portfolio sensitivities and potential losses.
Evaluate account-level and portfolio-level exposures, concentration risks, and compliance with approved risk limits.
Assess the risk of individual options positions, multi-leg strategies, and complex portfolios, including their behaviour under different market conditions.
Identify excessive exposures, potential risk concentrations, and positions that may require closer monitoring or mitigation.
Recommend appropriate risk-reduction measures in accordance with established policies and escalation procedures.
2. Live Risk Monitoring & Escalation
Monitor live positions, profit and loss (P&L), margin utilisation, and changes in risk exposure during US market hours.
Investigate unusual trading activity, significant P&L movements, limit breaches, and unexpected exposure changes.
Assess potential losses arising from sharp price movements, volatility spikes, liquidity constraints, and market gaps.
Escalate material risk events promptly to the relevant stakeholders and recommend appropriate action within the role's authority.
Coordinate with Trading, Operations, and Technology teams to investigate and resolve risk-related issues.
3. Risk Analytic, Stress Testing & Reporting
Prepare and review reports covering options exposures, portfolio Greeks, concentration risk, margin utilization, and risk-limit consumption.
Conduct stress testing and scenario analysis to assess the potential impact of adverse market conditions on portfolios.
Analyse historical and current risk data to identify emerging trends, vulnerabilities, and areas requiring further attention.
Maintain accurate and timely risk reporting to support decision-making by the global Risk team and management.
Identify opportunities to improve risk dashboards, reporting accuracy, and analytical tools.
4. Risk Controls, Policies & Governance
Support the implementation, review, and enhancement of risk policies, procedures, limits, and escalation frameworks.
Assist in evaluating the risk implications of new instruments, options strategies, products, and business initiatives.
Document material risk events, limit breaches, escalation decisions, and follow-up actions.
Identify gaps in existing risk controls and recommend practical improvements.
Contribute to internal risk reviews, governance processes, and risk-related documentation.
5. Risk Operations Backup & Global Coordination
Provide backup support for routine Risk Operations activities when required.
Assist with monitoring positions, exposures, P&L, margin requirements, and operational risk indicators.
Support the investigation and resolution of operational exceptions and risk incidents.
Coordinate with the Risk Operations Specialist and the global Risk team in Sofia to ensure effective handovers, continuity of monitoring, and timely escalation of issues.
6. Risk Systems & Process Improvement
Collaborate with Technology and Operations teams to improve risk monitoring systems, analytical tools, and reporting processes.
Support the testing and validation of risk calculations, reports, and system enhancements.
Identify opportunities to automate repetitive risk monitoring and reporting tasks.
Help maintain standard operating procedures and technical documentation relating to risk processes.
Required Qualifications & Experience
Bachelor's or master's degree in Finance, Economics, Mathematics, Statistics, Engineering, Financial Engineering, or a related field.
Approximately 5+ years of relevant experience in market risk, derivatives risk, options trading support, or a comparable financial markets role.
Strong practical understanding of options pricing, options Greeks, implied volatility, and non-linear risk exposures.
Experience monitoring trading positions, evaluating portfolio risk, assessing margin utilisation, and managing concentration risks.
Understanding of stress testing, scenario analysis, risk limits, and escalation procedures.
Strong analytical, quantitative, and problem-solving capabilities.
Advanced Excel skills and familiarity with trading platforms or risk monitoring systems.
Good written and verbal communication skills, with the ability to work effectively across international teams.
Preferred Qualifications
Experience in a brokerage, proprietary trading, market-making, or derivatives-focused financial services firm.
Familiarity with US-listed options and US market trading practices.
Experience with portfolio Greeks, volatility analysis, multi-leg options strategies, and derivatives risk sensitivities.
Working knowledge of Python, SQL, or similar tools used for risk analytics and automation.
Relevant certifications in financial markets, derivatives, or risk management.
Working Hours
The role will follow a shift aligned with regular US options market hours, with working hours extending into the early hours of the following day in India. The exact schedule will be communicated during the recruitment process and may be adjusted to account for US daylight saving time and business requirements.
Employment Details
Employer: Alaric Securities, Bulgaria
Work Location: AMRA office, Pune, India
Employment Type: Full-time
Working Hours: Shift aligned with regular US options market hours
Reporting & Collaboration: Global Risk team, Sofia, Bulgaria