Senior Market Risk Manager - HongKong

Who We Are

At OKX, we believe that the future will be reshaped by crypto, and ultimately contribute to every individual's freedom. OKX is a leading crypto exchange and the developer of OKX Wallet, giving millions access to crypto trading and decentralised crypto applications (dApps). OKX is also a trusted brand by hundreds of large institutions seeking access to crypto markets.

Across our multiple offices globally, we are united by our core principles: We Before Me , Do the Right Thing , and Get Things Done . These shared values drive our culture, shape our processes, and foster a friendly, rewarding, and diverse environment for every OK-er.

OKX is part of OKG, a group that brings the value of Blockchain to users around the world, through our leading products OKX, OKX Wallet, OKLink and more.

About The Team

OKX Liquidity Management supports a broad range of crypto products — from spot and perpetual swaps to structured products and exotic options.

The Risk function is responsible for independent oversight of all market risk exposures arising liquidity management activities. We maintain rigorous real-time risk monitoring frameworks, enforce pre-agreed risk limits, and work closely with liquidity management team to ensure exposures remain within appetite at all times.

We are seeking a Senior Market Risk Manager to join this team. You will be the 2nd line of independent risk oversight for our liquidity management business, working closely with the front office to assess risk and business strategy, as well as other corporate functions such as model validation, developers, finance, compliance, to keep the desk operating safely and efficiently.

What You'll Be Doing

Risk Monitoring & Limits Management

• Monitor real-time and end-of-day market risk exposures across liquidity management activities, spanning spot, perpetual swaps, dated futures, vanilla options, exotic payoffs with KI/KO features
• Track and manage Greeks (delta, gamma, vega, theta, rho) across various trading desks; ensure hedging activity keeps net Greeks within approved limits
• Maintain and enforce stop-loss limits at the desk, strategy, and individual trader level; identify breaches promptly and coordinate effective escalation and resolution
• Monitor margin utilisation and collateral efficiency across venues; flag concentration or margin call risk before it materialises
• Oversee liquidation risk and auto-deleveraging (ADL) exposure for leveraged positions; work with traders to manage positions ahead of critical margin thresholds

Risk Framework & Methodology

• Continuously develop and enhance the market risk framework for the market making desk, including VaR models, Expected Shortfall, stress testing, and scenario analysis calibrated to crypto market dynamics
• Own PnL attribution and reconciliation — decompose daily trading PnL into Greeks, carry, and residual components to validate model accuracy and identify unexplained P&L
• Define and maintain a comprehensive suite of risk limits including notional limits, Greeks limits, stop-loss thresholds, concentration limits, and venue-level position limits; perform periodic data-driven reviews
• Evaluate market risk for new products, strategies, and client structures prior to launch, including bespoke structured products and barrier option payoffs
• Develop and refine margin parametrisation models to support efficient capital usage while maintaining robust risk controls

Stakeholder Engagement & Reporting

• Understand the market, discuss risk exposures and concerns with senior risk managers and traders
• Produce and review high-quality daily, weekly, and monthly risk reports for the desk head and senior leadership, presenting complex exposures and risk metrics clearly to both technical and non-technical audiences
• Lead post-mortem reviews on market risk incidents, stop-loss breaches, or significant mark-to-market events; ensure root causes are identified and controls updated
• Partner with Trading, Structuring, Technology, and Finance teams to design and implement risk system improvements, automate monitoring workflows, and improve data quality
• Engage with regulators and external auditors on market risk matters related to the liquidity management business as required

What We Look For In You

Qualifications & Experience

• Bachelor's Degree required, preferably in Finance, Mathematics, Statistics, Engineering, or a related quantitative field; advanced degree (MSc, PhD) is a plus
• 7–10+ years of experience in market risk management at a crypto market making firm, proprietary trading house, Tier-1 crypto exchange, or major financial institution with a significant market making business
• Direct, hands‑on experience managing market risk for market making or principal trading desks — not solely exchange‑level or client risk management
• Experience in risk management in gambling/betting industry is a plus

Technical & Product Knowledge

• Deep knowledge of crypto and traditional financial products including spot, perpetual swaps, dated futures, structured products, barrier options (knock‑in/knock‑out), and vanilla options
• Proficiency in risk metrics including VaR, Expected Shortfall, and stress testing, as well as Greeks management (delta, gamma, vega, theta) for options‑heavy books
• Strong understanding of PnL attribution methodologies: ability to decompose and explain daily trading PnL across Greeks, carry, vol carry, and unexplained residuals
• Working knowledge of crypto‑native risk mechanisms including margin systems, liquidation engines, and auto-deleveraging (ADL) protocols on centralised exchanges
• Experience with stop‑loss framework design and management: defining appropriate thresholds, monitoring intraday, and escalating breaches effectively
• Familiarity with margin optimisation across multiple trading venues and understanding of cross‑margining and portfolio margining concepts

Analytical & Communication Skills

• Strong quantitative skills with the ability to build and validate risk models; proficiency in Python or similar for data analysis and risk metric calculation
• Comfortable leveraging AI tools and automation to streamline risk monitoring and reporting workflows
• Excellent communication skills; able to present complex risk findings clearly to traders, desk heads, and senior non‑technical stakeholders
• Collaborative, execution‑focused mindset with a track record of operating effectively in fast‑paced, high‑pressure trading environments

Professional Qualifications

• CFA, FRM, PRM, or equivalent professional qualification preferred

Why Join Us

• Work at the cutting edge of crypto market making — one of the most technically demanding risk disciplines in financial markets
• Collaborate daily with world‑class traders and quants on structuring and hedging complex payoffs
• Shape the risk framework of a high‑growth business with real autonomy and impact
• Competitive compensation, flexible working, and a culture that rewards ownership and initiative

Confidential · OKG