---
title: 'Head of Financial Risk Management - Bitnomial at Kraken'
canonical: 'https://feeny.ai/job/head-of-financial-risk-management-bitnomial-kraken-united-states-3fpyssf77tva'
type: 'job'
last_seen: '2026-09-11'
---

# Head of Financial Risk Management - Bitnomial at Kraken

- **Company:** [Kraken](https://feeny.ai/companies/kraken)
- **Location:** United States
- **Compensation:** $110k–$221k
- **Employment:** full-time
- **Work type:** remote
- **Posted:** 2026-08-28
- **Last confirmed live:** 2026-09-11
- **Apply:** https://jobs.ashbyhq.com/kraken.com/4c9cafd3-0ff5-4497-aa85-4fcc4945247a

## Job description

Building the Future of Open Finance

Payward - the parent company behind Kraken, NinjaTrader, Breakout, xStocks, Payward Services and CF Benchmarks - has spent the last 15 years building one of the most modern and globally accessible financial infrastructure platforms in the industry, built to advance an open, global financial system.

Before you apply, we encourage you to explore our [culture page](https://www.kraken.com/culture) to understand what drives us and how we work. The team We are seeking a seasoned Senior Risk Manager with 10+ years of risk management experience at a CFTC-registered Derivatives Clearing Organization (DCO) to join our risk function. This individual will play a critical role in safeguarding the integrity of our clearinghouse by leading the design, calibration, and ongoing oversight of margin models, stress testing frameworks, and broader market risk methodologies. The successful candidate will work cross-functionally with clearing operations, technology, compliance, and senior leadership to ensure that the DCO’s risk management framework meets the highest regulatory and industry standards. Prior experience at a Futures Commission Merchant (FCM) is strongly preferred and will bring valuable perspective on the participant side of cleared markets.

The opportunity

- Margin Modeling & Methodology
- Ongoing performance monitoring of initial and variation margin models across cleared products, including futures, options, and swaps.
- Lead periodic recalibration of margin parameters (lookback windows, volatility scaling, anti-procyclicality measures, liquidity add-ons, concentration charges) and document changes in accordance with the DCO’s model governance framework.
- Evaluate and enhance portfolio-based margining methodologies (e.g., SPAN-style, VaR/Expected Shortfall, filtered historical simulation) for accuracy, defensibility, and regulatory compliance.
- Conduct back-testing, sensitivity analysis, and model performance reviews; clearly articulate findings to internal stakeholders, the Risk Committee, and regulators.

Market Risk & Stress Testing

- Design, execute, and continuously refine the DCO’s stress testing program, including historical, hypothetical, and reverse stress scenarios.
- Monitor market risk exposures of clearing members and the clearinghouse as a whole, including concentration, wrong-way risk, liquidity risk, and tail-risk exposures.
- Assess the adequacy of the default waterfall, guaranty fund sizing, and skin-in-the-game contributions in light of evolving market conditions.
- Produce daily, weekly, and monthly risk reporting to senior management, the Risk Committee, and external regulators.

Regulatory & Governance

- Ensure ongoing compliance with CFTC Part 39 DCO Core Principles, including those governing financial resources, margin, risk management, default procedures, and system safeguards.
- Serve as a liaison to the CFTC and other regulators during examinations, rule certifications, and ad hoc inquiries.
- Maintain robust model risk management documentation aligned with industry standards and the DCO’s internal governance policies.
- Support the Chief Risk Officer in Risk Committee preparation, member due diligence, and the evaluation of new products and clearing services.

Clearing Member Oversight

- Conduct financial and operational risk reviews of clearing members, including assessment of capital adequacy, liquidity, and risk management practices.
- Monitor intraday and end-of-day exposures, margin calls, and collateral sufficiency; escalate emerging risks to the CRO and senior leadership.
- Partner with operations and technology to enhance real-time risk monitoring tools and dashboards.

## What you bring

- Minimum of 10 years of risk management experience at a CFTC-registered DCO, with direct ownership of margin and/or stress testing methodologies.
- Deep, practical knowledge of CFTC regulations, particularly Part 39 DCO Core Principles, and familiarity with adjacent rules under Parts 1, 22, and 190.
- Demonstrated expertise in market risk concepts: VaR, Expected Shortfall, scenario analysis, volatility modeling, and portfolio risk aggregation across futures and options.
- Foundation in margin model design and validation (SPAN, SPAN 2, historical simulation, parametric, or Monte Carlo-based approaches).
- Hands-on experience designing and executing stress testing programs that meet DCO regulatory expectations (liquidity stress, default management drills).
- Bachelor’s degree required in a quantitative discipline (Finance, Economics, Mathematics, Statistics, Engineering, or related field); advanced degree (Master’s) preferred.
- Excellent written and verbal communication skills, with proven ability to present complex risk concepts to executives, board members, and regulators.
- Sound judgment under pressure, with the ability to make defensible risk decisions in volatile markets.
- Intellectual rigor and attention to detail in model design, validation, and documentation.
- Collaborative orientation across risk, operations, technology, compliance, and legal functions.
- Comfort engaging directly with regulators, clearing members, and senior internal stakeholders.

Nice to haves

- Prior experience at a Futures Commission Merchant (FCM), including familiarity with customer segregation requirements, house vs. customer margining, and FCM risk management practices.
- Experience with cleared derivatives across multiple asset classes (digital assets, interest rates, energy, agricultural, metals, equity indices, FX).
- Working knowledge of default management processes, including auction protocols, hedging, and porting of customer positions.
- Experience supporting regulatory examinations, rule filings, or new product self-certifications under CFTC Part 40.

Unless a specific application deadline is stated in the job posting, applications are accepted on an ongoing basis. Please note, applicants are permitted to redact or remove information on their resume that identifies age, date of birth, or dates of attendance at or graduation from an educational institution. We consider qualified applicants with criminal histories for employment on our team, assessing candidates in a manner consistent with the requirements of the San Francisco Fair Chance Ordinance.

Our commitment Payward is powered by people from around the world and we celebrate the diverse talents, backgrounds, contributions, and unique perspectives that everyone brings to the table. We hire based on merit, seeking out people with the right abilities, knowledge, and skills for the job. We encourage you to apply for roles where you don't fully meet the listed requirements, especially if you're passionate or knowledgeable about crypto.

We may ask candidates to complete job-related skills or work-style assessments as part of our hiring process. These assessments evaluate competencies relevant to the role and are applied consistently across candidates for similar positions. Results are considered alongside experience and interviews, and are not the sole basis for any employment decision.

As an equal opportunity employer, we don't tolerate discrimination or harassment of any kind, whether based on race, ethnicity, age, gender identity, citizenship, religion, sexual orientation, disability, pregnancy, veteran status, or any other protected characteristic as outlined by federal, state, or local laws.

Stay connected [Follow us on Twitter](https://twitter.com/krakenfx) [Learn on the Kraken Blog](https://blog.kraken.com/#:~:text=Enter%20your%20email%20address) [Connect on LinkedIn](https://www.linkedin.com/company/kraken-exchange/)

[Candidate Privacy Notice](https://www.kraken.com/legal/candidate-privacy-notice)

## About Kraken

## Company Overview
- **One-liner**: Kraken is a global cryptocurrency exchange and technology platform that provides secure trading, custody, and financial services for retail and institutional clients.
- **Entity Type**: Private (last known valuation ~$10B as of 2023; multiple funding rounds from investors including Tribe Capital, Bessemer Venture Partners, and others)
- **Headquarters**: San Francisco, California, USA (operates as a fully remote-first organization)
- **Founded**: 2011
- **Founders**: Jesse Powell (CEO)

## Core Business
- Primary industry: Cryptocurrency exchange, digital asset custody, and financial technology.
- Target customers: B2C (retail investors, professional traders) and B2B (institutions, family offices, hedge funds).
- Mission: "Accelerate the global adoption of crypto, so that everyone can achieve financial freedom and inclusion."

## Products & Services
- **Spot & Margin Trading**: Buy/sell 200+ cryptocurrencies with advanced order types and leverage.
- **Kraken Pro**: Professional-grade trading interface for active traders with low fees and deep liquidity.
- **Futures & Derivatives**: Regulated crypto derivatives trading (Kraken Futures) for institutional and qualified retail clients.
- **Kraken Staking**: Earn rewards by staking supported assets directly on the platform.
- **Kraken NFT Marketplace**: Buy, sell, and mint NFTs across multiple blockchains.
- **Kraken Bank (US)**: Wyoming-chartered Special Purpose Depository Institution (SPDI) offering custody and banking services for digital assets.
- **Kraken Wallet**: Self-custodial mobile wallet for managing crypto and NFTs.
- **Kraken Institutional**: Dedicated suite for institutions including OTC trading, custody, and prime brokerage.

## Market Standing
- **Valuation**: Not publicly disclosed; last reported private valuation of approximately $10 billion in a 2023 secondary transaction (conflicting reports suggest a lower valuation in 2024 due to market conditions).
- **Key Metrics**: Over 10 million users globally; one of the longest-operating exchanges (since 2011); industry-first Proof of Reserves audit; $50+ billion in quarterly trading volume (estimated).
- **Notable Investors/Partners**: Tribe Capital, Bessemer Venture Partners, Blockchain Capital, Fidelity, Human Capital, and others.
- **Growth Signals**: Grew from ~3,000 to over 4,000+ employees since 2020; entered new markets (e.g., stock and ETF trading in 2024); expanded into NFT marketplace and bank charter; consistently ranked among top trusted exchanges by security and transparency.

## Competitive Advantages
- **Security & Transparency**: Longest-running Proof of Reserves program; never suffered a major security breach; regulated in multiple jurisdictions (US, UK, EU, Canada).
- **Global Remote Culture**: Fully remote-first since inception, hiring top talent from 70+ countries without location constraints.
- **Crypto-Native**: Leadership deeply embedded in crypto ethos; products built for both beginners and advanced traders.
- **Regulatory Compliance**: Licensed in key markets and operates a US bank, giving it an edge as regulatory scrutiny increases.

## Strategic Focus
- **Expand Product Suite**: Moving beyond pure crypto into stocks, ETFs, and traditional finance integration (via Kraken Bank).
- **Institutional Growth**: Doubling down on prime brokerage, custody, and OTC services to capture institutional flows.
- **Global Licensing**: Securing regulatory approvals in more jurisdictions (e.g., EU MiCA, UK FCA) to serve local markets.
- **Self-Custody & DeFi**: Investing in wallet infrastructure and decentralized finance capabilities for user sovereignty.

## Why Work Here
- **Culture**: Kraken describes itself as "remote-first, not remote-friendly." Asynchronous communication, radical transparency, and extreme ownership are core. Team members from 70+ countries.
- **Work Arrangement**: Fully remote globally; no headquarters attendance required. Flexible schedule with async workflows.
- **Compensation & Benefits**: Competitive salary regardless of location; option to be paid in crypto; equity grants; flexible PTO; wellness program (fitness coach, wellbeing apps); mental health coaching for employees and dependents; remote workstation setup bonus.
- **Hiring Process**: Structured, fully virtual process including CV screen, talent screen, role-specific interviews, and a practical case study. Emphasis on crypto conviction, self-starters, and collaborative humility.
- **Engineering Culture**: High ownership, autonomy, and impact. Decisions documented in writing; performance evaluated on output rather than hours. "Dogfooding" the product is encouraged.

## Sources
1. [Kraken Careers](https://www.kraken.com/careers)
2. [Kraken Job Listings (Ashby)](https://jobs.ashbyhq.com/kraken.com)
3. [Kraken Culture Page](https://www.kraken.com/culture)
4. [The Kraken Employee Value Proposition - Kraken Blog](https://blog.kraken.com/news/the-kraken-employee-value-proposition)
5. [Remote isn’t a perk. It’s how Kraken operates. - Kraken Blog](https://blog.kraken.com/news/industry-news/remote-is-how-kraken-operates)

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