Product Manager, Portfolio Margin and Risk

You will lead the end-to-end design and delivery of portfolio margin and risk capabilities. You will define margin methodologies, translate scenario and correlation analyses into product requirements, and design pre-trade buying power and real-time margin systems. You will partner with engineers, quants, traders, risk, treasury, and compliance to implement instrument modeling, position netting, risk factor ingestion, and event-driven recalculation. You will design margin call logic, liquidation workflows, and integrations with pricing, P&L, booking, and treasury systems. You will use AI tools to prototype solutions, accelerate research, and produce stakeholder-ready documentation.

Responsibilities

• Design and evolve portfolio-based margin systems spanning spot, futures, options, swaps, and structured derivatives
• Translate scenario, shock, and correlation-based margin methodologies into scalable product requirements and operationalize VaR and Expected Shortfall
• Implement portfolio-level offsets, concentration add-ons, liquidity haircuts, and regulatory overlays
• Architect systems to estimate incremental margin impact pre-trade
• Design APIs and internal tools for real-time margin utilization and visibility
• Define cross-margin eligibility logic and portfolio capital efficiency checks
• Define canonical instrument representations and model multipliers, expiries, funding mechanics, settlement types, and lifecycle events
• Design position netting logic across accounts and sub-accounts
• Partner with engineering to build real-time risk factor ingestion and portfolio aggregation engines
• Architect real-time portfolio risk views and event-driven recalculation frameworks
• Design margin call logic, risk thresholds, and liquidation workflows
• Ensure predictable and safe system behavior under stress scenarios and market dislocations
• Integrate margin engines with pricing, P&L, booking, and treasury systems
• Align margin methodology with funding, treasury, and capital considerations
• Architect end-to-end workflows from pre-trade margin estimation to margin calculation and reporting
• Own roadmap development and margin methodology evolution
• Lead tradeoff discussions across performance, capital efficiency, regulatory constraints, and usability
• Drive delivery timelines and maintain feedback loops with front-office users
• Champion thoughtful adoption of AI for product development and prototyping

Requirements

• 7+ years experience in trading product, margin, derivatives, or risk systems
• Fluency in portfolio margin, VaR, expected shortfall, scenario analysis, correlation analysis, stress testing, and Greeks
• Experience with instrument modeling, position aggregation, and real-time margin or risk engines
• Knowledge of Reg-T, portfolio margin, cross-margining, overlays, and capital efficiency
• Experience using AI tools for research, prototyping, and documentation
• Ability to operate effectively in ambiguous or greenfield fintech environments
• Experience partnering with traders and optimizing for latency and determinism

Benefits

• Hybrid/Flexible working arrangements
• Flexible paid time off
• 3% 401(k) company contribution
• Company-paid health and protective benefits for employees, partners, and dependents
• Generous paid parental leave
• Competitive family planning benefits for US employees
• Free daily snacks and weekly breakfasts or lunches
• Employee Resource Groups
• Free virtual coaching and counseling sessions through Headspace