- New York
- Menlo Park
- Date Posted
- May. 25, 2021
- Financial Services
Join a leading fintech company that’s democratizing finance for all.
Robinhood was founded on a simple idea: that our financial markets should be accessible to all. With customers at the heart of our decisions, Robinhood is lowering barriers, removing fees, and providing greater access to financial information. Together, we are building products and services that help create a financial system everyone can participate in.
Just as we focus on our customers, we also strive to create an inclusive environment where our employees can thrive and do impactful work. We are proud of the world class products and company culture we continue to build and have been recognized as:
- A Great Place to Work
- A CNBC Disruptor 50 in 2019 and 2020
- A LinkedIn Top Startup in 2017, 2018, 2019 and 2020
- Robinhood is backed by leading investors that include DST Global, Index Ventures, NEA, Ribbit Capital, Thrive Capital, and Sequoia.
- Check out life at Robinhood on The Muse!
About the team:
Robinhood Markets (RHM) is the parent company of various business units, including clearing, brokerage, crypto currency, and money services. We are looking for a Financial Risk Senior Manager to join RHM’s Enterprise Risk Team, reporting directly to the Head of Enterprise Risk & Control. The candidate will be responsible for identifying, monitoring and analyzing all potential market, liquidity, and counterparty credit risks impacting the firm’s financial success. As a key member of our 2nd line of defense, you will partner closely with the leadership team of each business unit (or subsidiary) to assess and monitor intraday financial exposure.
The Enterprise Risk function takes a risk-based approach to assess risk taking activities of the primary owners in the business, or the 1st Line of Defense. This position requires a knowledgeable risk management professional with proficiency in stress testing and utilization of scenario analysis in evaluating financial risk to a financial institution. The successful candidate has a deep understanding of equity and option trading, market volatility events, risk assessments, and crypto currency products. This is a highly motivated, collaborative, and analytical self-starter with the ability to assess and escalate risks in a timely manner to support the fast-paced growth at Robinhood.
What you’ll do day-to-day:
- Manage and mature Robinhood’s financial risk management methodology in accordance with enterprise risk governance and policies
- Participate in the identification, measurement, monitoring, control and reporting of financial risks including margin deficits, erroneous trades, significant net liquidation changes, position concentrations, and other issues
- Responsible for review of the business unit risk assessments and tracking remediation through corrective action plans
- Monitor trading risk controls and limit compliance, participating in limit reviews and ensuring proper escalation procedures in case of breach
- Oversight of risk assessment and strategic analysis of firm liquidity position and market risk levels
- Preparing management report and strategic decisions making materials for senior management
- Ensure consistent process mapping, controls, and maintenance of relevant risk management registers for each business unit
- Liaise with the first line of defense as oversight for incident response, issue management, in support of risk detection, mitigation, acceptance of prevention demonstrating sound decision-making capabilities
- Oversee the financial risk incident management process to guarantee that timeliness, integrity, and quality control are maintained
- Oversee the consistent implementation of Enterprise Risk policies and procedures
- Build partnerships with other organizational line of defense (i.e. Compliance, Internal Audit, etc.)
- Define and lead enterprise financial risk programs and drive the long-term roadmap for financial risk management at Robinhood
- Participate in ad hoc projects and initiatives that enhance the control environment, and respond to regulatory/audit requests
- Stay abreast of current industry standards and methodologies
- Gain product knowledge of Robinhood systems
- Passion for Robinhood’s products and our mission to democratize access to global financial systems
- Bachelor’s degree in relevant field
- 10+ years of financial sector experience in brokerage/banking, including working in market risk, credit risk, or treasury departments
- Demonstrate understanding of equity, options and cryptocurrency trading, settlement, and risks
- Knowledge of financial risk management models, valuation techniques, stress testing, position monitoring, and analytical reporting
- Ability to implement an enterprise financial risk program at scale with a bias to action
- Strategic thinker with experience identifying and reporting on risk mitigation strategies and scenario analysis minimizing firm’s financial exposure
- Strong collaborative and organizational skills with ability to partner across functional teams and communicate with technical and non-technical users
- Strong analytical abilities to simplify complex problems and automate reporting and analysis, all while maintaining strong attention to detail and organizational skills
- Ability to learn quickly and execute on projects
- Excellent verbal, mathematical, and communication skills
- Be a great team leader who fosters conditions that allow for a team to thrive in a fast-paced, innovative environment
- FINRA Series 7, 24 (preferred)
- Advanced degree or certification in a relevant field
- Leadership or people management experience
We’re looking for more growth-minded and collaborative people to be a part of our journey in democratizing finance for all. If you’re ready to give 100% in helping us achieve our mission—we’d love to have you apply even if you feel unsure about whether you meet every single requirement in this posting. At Robinhood, we’re looking for people invigorated by our mission, values, and drive to change the world, not just those who simply check off all the boxes.
Robinhood’s benefits include generous time off, 401(k) participation with employer match, comprehensive health coverage, a health savings account (HSA), wellness benefits, backup childcare and education stipends (all benefits are subject to applicable taxes and based on eligibility).