Director of Market Risk Operations

Remote - United States

Who We Are:

Alpaca is a US-headquartered self-clearing broker-dealer and brokerage infrastructure for stocks, ETFs, options, crypto, fixed income, 24/5 trading, and more. Our recent Series C funding round brought our total investment to over $170 million, fueling our ambitious vision.

Amongst our subsidiaries, Alpaca is a licensed financial services company, serving hundreds of financial institutions across 40 countries with our institutional-grade APIs. This includes broker-dealers, investment advisors, wealth managers, hedge funds, and crypto exchanges, totalling over 6 million brokerage accounts.

Our global team is a diverse group of experienced engineers, traders, and brokerage professionals who are working to achieve our mission of opening financial services to everyone on the planet. We're deeply committed to open-source contributions and fostering a vibrant community, continuously enhancing our award-winning, developer-friendly API and the robust infrastructure behind it.

Alpaca is proudly backed by top-tier global investors, including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Unbound, SBI Group, Derayah Financial, Elefund, and Y Combinator.

 

Our Team Members:

We're a dynamic team of 230+ globally distributed members who thrive working from our favorite places around the world, with teammates spanning the USA, Canada, Japan, Hungary, Nigeria, Brazil, the UK, and beyond!

We're searching for passionate individuals eager to contribute to Alpaca's rapid growth. If you align with our core values—Stay Curious, Have Empathy, and Be Accountable—and are ready to make a significant impact, we encourage you to apply.

Your Role:

The Director of Market Risk Operations will oversee market risk across a diverse range of products and asset classes, with a primary focus on initiatives within a regulated broker-dealer — including the design and oversight of a portfolio margin program. This cross-functional role will also support risk policy development across other lines of business, such as international brokerage entities and digital asset products. 

 

Things You Get To Do:

  • Portfolio Margin Risk Oversight:
    • 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.

  • Cross-Product Market Risk Governance:
    • 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.

  • Reporting & Risk Communication:
    • 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.

  • Risk Modeling & Infrastructure:
    • 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.

Who You Are (Must-Haves):

  • 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.

How We Take Care of You:

  • 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

Alpaca is proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse workforce.

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