Job Description
Based in New York, as part of a global team, the Risk Manager will have responsibility for second-line oversight of US Equity Derivatives, including flow derivatives and structured equity products.
With the help of Jefferies risk policies and the overarching Risk Management Framework, and in compliance with relevant Risk Appetite Statements, the team works directly with the business and in partnership with second-line partners. The role is responsible for ensuring that risks arising from derivatives and structured equity products are identified, understood, captured, reported, escalated as required, and managed within risk appetite.
The successful candidate should combine strong product knowledge with an appreciation of the wider regulatory and governance environment across risk management. This includes understanding how market risk oversight connects with credit and counterparty risk, liquidity risk, operational risk, conduct risk, model and methodology governance, technology and data controls, new business review, limit governance, audit, regulatory expectations, and senior committee escalation.
The role reports directly to the Head of Derivatives US and works closely with colleagues across global Equities Risk Management, Equity Derivatives Trading and Structuring, Product Control, IPV, Finance, Technology, Model Risk, Credit Risk, Legal, Compliance, Audit, and other control functions.
Key Responsibilities
- Oversee and risk management of relevant US Equity Derivatives portfolios in accordance with Group risk policies and procedures.
- Ensure that risks arising from flow derivatives and structured equity products are identified, understood, captured, reported, escalated as required, and managed within risk appetite.
- Monitor, review, and challenge daily risk metrics including VaR, stress testing results, Greeks, volatility, correlation, dividend, financing, gap, liquidity, concentration, P&L explain, and limit utilization.
- Analyze complex equity derivatives and structured transactions, assess resulting market risk exposures and hedging strategies, and escalate material risks as required.
- Review large, complex, or one-off transactions as part of the pre-trade approval framework, including assessment of payoff profile, model sensitivity, hedgeability, liquidity, concentration, and residual risk.
- Update and enhance the limit framework, stress testing, scenario analysis, risk reporting, dashboards, and analytical tools as derivatives and structured-product risks evolve.
- Review new business initiatives, new products, structured transactions, trading strategy changes, and methodology enhancements to assess market risk, regulatory considerations, governance requirements, and control implications.
- Prepare analysis and materials for risk committees, governance forums, senior management discussions, regulatory or audit responses, and ad-hoc risk reviews.
- Liaise with key stakeholders including Trading, Structuring, Product Control, Finance, Technology, Model Risk, Credit Risk, Legal, Compliance, Audit, and senior management.
- Support broader US Equities and global equities risk initiatives as required.
Experience, Skills And Qualifications
- Degree educated in a quantitative discipline such as mathematics, physics, engineering, computer science, statistics, financial mathematics, finance, or economics.
- Minimum 5 years' relevant experience covering equity derivatives, structured equity products, market risk management, trading, structuring, quantitative analysis, product control, model risk, or a related capital markets function.
- Strong understanding of equity derivatives and structured products, including options, swaps, exotics, structured notes, volatility, correlation, dividend, financing, liquidity, and hedging risks.
- Experience reviewing market risk exposures, stress testing results, Greeks, P&L explain, limit frameworks, transaction-level risk, and portfolio concentrations.
- Good appreciation of the regulatory and governance expectations applicable to complex equity derivatives and structured products at large financial institutions, including policies and procedures, risk appetite, committee governance, pre-trade approval, model and methodology governance, limit frameworks, escalation standards, new business review, audit, and regulatory engagement.
- Ability to analyze complex derivatives payoffs and explain key market risk, model, liquidity, hedge ability, and basis-risk drivers in a clear, concise manner.
- Proven track record of working successfully with traders, structurers, quants, analysts, and senior management.
- Strong oral and written communication, planning, project management, networking, influencing, and stakeholder management skills.
- Working knowledge of SQL, Python, VBA, Power BI, Bloomberg, derivatives risk systems, or other risk analytics tools is preferred.
Primary Location Full Time Salary Range of $175,000 - $200,000.
About Us
Jefferies is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research, and wealth and asset management services. With more than 40 offices around the world, we offer insights and expertise to investors, companies, and governments.
At Jefferies, we are committed to building a culture that provides opportunities for all employees regardless of our differences and supports a workforce that is reflective of the communities where we work and live. As a result, we are able to pool our collective insights and intelligence to provide fresh and innovative thinking for our clients.
Jefferies is committed to creating and sustaining a workforce that welcomes individuals from all backgrounds to apply. Our employment decisions are made without regard to race, creed, color, national origin, ancestry, religion, pregnancy, age, medical condition, physical or mental disability, marital status, domestic partner status, sex, sexual orientation, gender, gender identity or expression, veteran or military status, genetic information, reproductive health decisions, or any other factor protected by applicable law. We are committed to hiring the most qualified applicants and complying with all federal, state, and local equal employment opportunity laws. As part of this commitment, Jefferies will extend reasonable accommodation to individuals with disabilities, as required by applicable law.
The salary offered will take into consideration an individual’s experience level and qualifications. In addition to salary, Jefferies Financial Group is proud to offer a comprehensive benefits package to eligible, full-time employees or part-time employees, who are scheduled to work at least 30 hours or more per week, including an annual discretionary incentive and retention bonus, competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Jefferies also offers paid time off packages that include planned time off (e.g., vacation), unplanned time off (e.g., sick leave), and paid holidays, and for full-time employees, paid parental leave.
