Robinhood's mission is to democratize finance for all. The company is actively building the future of finance, focusing on an elite team applying frontier technologies to solve major financial problems. Robinhood fosters a high-performing, fast-moving environment with ethics at its core, where ambitious people can do their best work. At Bitstamp by Robinhood, the belief in in-person collaboration drives progress, innovation, and community strength.

About the Position

Introduction

Join Robinhood in democratizing finance for all as a Derivatives Risk Oversight Lead. You will be a key representative of the Second Line of Defense for our derivatives trading platform, overseeing and continually enhancing risk management frameworks across derivatives products and the Bitstamp Financial Services (BFS) entity.

Responsibilities

Support the Director of Risk in implementing and managing financial risk management programs for the Bitstamp Financial Services (BFS) Entity and other parts of the Bitstamp group, focusing on market, product, counterparty, margin, collateral, and liquidity risks from spot and derivatives activities.
Provide independent monitoring of financial and operational risk exposures, escalating breaches of approved limits, with an emphasis on trading-related risks and scalable control design.
Review and validate risk models and assess exposure metrics across derivatives products and trading strategies, including independent challenge of product calculations, valuation logic, exposure metrics, and model assumptions.
Define and periodically review margin methodologies. Independently assess the adequacy of margin and collateral practices implemented by the First Line of Defense (1LOD).
Define counterparty risk framework and limits; independently monitor exposures and challenge limit utilization, concentration risk, and interconnected exposures.
Conduct stress testing and scenario analysis to assess the impact of adverse market conditions on the derivatives portfolio and develop contingency plans.
Complete quarterly regulatory submissions required under the MiFID license, such as capital requirement calculation (ICAAP) and quantitative reporting.
Build or enhance internal capital and liquidity models, considering new risks from derivatives trading within the BFS entity.
Participate in developing key risk and early warning indicators and monitoring, as well as reviews of risk appetites, collaborating with 1LOD on defining KPI/KRI thresholds.
Establish a regular and repeatable risk assessment process covering daily monitoring, weekly and monthly deep dives, periodic model and margin review, exception tracking, and formal escalation governance.
Collaborate with process owners to facilitate appropriate management and control of all material risks for the BFS entity, acting as a subject-matter expert on derivatives and trading risk.
Promote a risk-aware culture, including facilitating regulatory-required risk training, and support clear ownership between 1LOD and Second Line of Defense (2LOD) in risk identification, challenge, escalation, and remediation.
Report findings to management and regulatory authorities, highlighting key risk metrics, exposures, and mitigating actions.
Collaborate closely with Product, Operations, Compliance, Legal, and Technology teams to integrate risk management considerations into business processes and decision-making.
Independently conduct spot and derivatives risk assessments, including hedge effectiveness, basis risk, collateral sufficiency, concentration risk, and the impact of extreme market moves across linked positions.
Support business scaling by ensuring robust risk methodologies, controls, reporting, and governance as volumes, client complexity, and product range increase.

Requirements

5+ years of experience in financial risk management, ideally in a second line of defense capacity.
Direct derivatives/market risk experience is essential; experience in a derivatives trading firm or brokerage is strongly preferred.
Excellent analytical skills and attention to detail, with the ability to interpret complex data and independently test, recalculate, and challenge front-line risk metrics.
Good understanding of the MiFID regulatory framework (particularly derivatives) and prudential expectations relevant to investment firms offering derivatives products.
Good knowledge of balance sheet components and income drivers, including capital, liquidity, and P&L implications of leveraged derivatives activity.
Ability to operate independently and navigate ambiguity.
Effective communication and presentation skills, including the ability to challenge senior stakeholders with credible quantitative analysis.
Excellent English language skills (written and verbal).

Nice to Have

Knowledge of the blockchain and virtual currency environment, with a strong understanding of crypto market structure, spot trading, derivatives products, and perpetual swaps.

Benefits

Challenging, high-impact work for career growth.
Performance-driven compensation with multipliers for outsized impact and bonus programs.
Top-tier benefits including supplemental health insurance, ancillary insurance, and mental health support programs.
Lifestyle wallet: a flexible employer-paid benefits spending account for wellness, childcare, learning, and more.
Time off to recharge: company holidays, paid time off, sick time, paid volunteer time off, parental leave, and more.
Exceptional office experience with catered meals, events, and comfortable workspaces.
Monthly commuter stipend to offset in-office commuting costs.