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3 Days Left Risk Lead - Proprietary Trading

3 Days Left Risk Lead - Proprietary Trading

Nuvama GroupRepublic Of India, IN
7 hours ago
Job description
  • Risk Lead – Proprietary Trading Desks : Listed derivatives (index & single-stock options), OTC exotics / structured products, Equity and Debt Role Summary The role is for a desk that is being setup. Candidate will be key founding member of the team. Own end-to-end market risk for a multi-strategy prop desk. Design / enforce limit frameworks, monitor intraday Greeks, run VaR / ES and stress programs, validate pricing models, and operate RMS / OMS controls with rapid incident response (kill-switch). Core Responsibilities Intraday Risk & Limits : Real-time delta / gamma / vega / theta;
  • cross-gamma / vol-of-vol;
  • IV shifts, skew / term stresses. Calibrate hierarchical limits (gross / notional, net, single-name, sector, beta, vega buckets, drawdown, liquidity). Operate RMS / OMS (fat-finger, price bands, OTR, throttles, kill-switch & escalation). Risk Measurement : Daily VaR (hist / MC) & Expected Shortfall ;
  • back-testing and exceptions. Structured stress : IV ±X%, skew twist, term-structure shifts, jump / gap, correlation breakdown, liquidity haircuts, exchange-margin hikes. Funding & margin forecasting (SPAN / VAR, ELM, ad-hoc), peak / intraday calls. OTC Exotics Risk : Barriers (KI / KO), autocallables, cliquets, digitals (single / dual), quanto, Asians, variance / vol swaps. Method choice (lattice / trees, Monte Carlo, local / stochastic vol). Model-risk governance, reserves, P&L explain. Counterparty / collateral (ISDA / CSA), XVA awareness (CVA / DVA / FVA) as applicable. Surveillance & Compliance : Market-abuse surveillance;
  • algo guardrails (clocksync, stale-quote, runaway-algo). Adhere to SEBI and NSE / BSE risk / algo norms (peak margin, OTR, trade / position limits). Own RCSA, incident post-mortems, audit closure. Data & Tooling : Dashboards for Greeks, VaR / ES, stress heatmaps, limit consumption;
  • automate intraday P&Lexplain. Partner with Quants / Tech to validate pricers / Greeks and data pipelines;
  • enforce data quality (corp actions, IV surfaces, auctions, borrow / SLB). Governance & Stakeholders : Run risk forums;
  • publish daily risk packs;
  • deliver 30 / 60 / 90 control uplifts;
  • train traders on limithygiene, scenario discipline, margin economics. Must-Have Experience & Skills 5–8 years in market risk with 3–5 years hands-on coverage of listed options and OTC exotics / structured products on a prop or sell-side trading desk. Strong options theory (smile / skew / term), vol dynamics, scenario design, Greek aggregation, VaR / ES, and back-testing. Solid grasp of Indian market microstructure (NSE / BSE;
  • auctions, lot sizes, timings) and exchange / SEBI risk & algo requirements. Tooling : Python (NumPy / Pandas / SciPy), SQL, advanced Excel;
  • comfort with Jupyter / BIdashboards and version control (Git). (Bonus : kdb+ / q, C++ / Rust for pricer validation;
  • cloud for risk jobs.) Education (no licenses / certifications) Bachelor’s in Engineering (CS / EE / ME / IE) or STEM (Mathematics, Statistics, Physics, Economics), and One of : Master’s in Statistics / Applied Mathematics / Financial / Computational / Quantitative Finance / Data Science, or MBA (Finance) from a recognized institution with demonstrable derivatives / risk coursework and hands-on options exposure. Evidence of quant foundation expected : probability / statistics, time-series / econometrics, stochastic processes / Itô calculus (working intuition), numerical optimization, Monte Carlo, and PDE-based pricing methods. KPIs Zero material regulatory breaches;
  • limit-breach rate & time-to-contain;
  • VaR back-testing exceptions within policy;
  • incident MTTR;
  • model-risk findings closed on time;
  • % automated checks / alerts;

    • stability of P&L explain residuals.

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    Days Left Lead • Republic Of India, IN

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