We are looking for a highly analytical and technically-minded Risk Manager to join our Risk & Clearing team at Delta Exchange. You will be the primary owner of our exchange’s margin ecosystem, ensuring that our collateral requirements are balanced between capital efficiency for traders and systemic safety for the platform. The ideal candidate has a deep understanding of derivatives market structures, a data-driven approach to liquidation analysis, and the ability to bridge the gap between complex financial risk and product development.
Requirements
Core Responsibilities
1. Margin Methodology & Oversight
● Own and optimize margin calculations across all supported modes, including Isolated, Cross, and Portfolio Margin.
● Develop and refine risk parameters (maintenance margin, initial margin, and haircut models) to ensure the exchange is robust against extreme market volatility.
● Conduct stress testing and back-testing on margin models to ensure they withstand "black swan" events.
2. Liquidation & Negative Equity Analysis
● Perform post-mortem analysis on trader liquidations to identify patterns of failure.
● Investigate cases of negative equity (socialized losses/ADL) to determine why margin was insufficient and recommend adjustments to the insurance fund or liquidation engine logic.
3. Product & Technical Collaboration
● Tech Liaison: Partner with the engineering team to design and build real-time Risk Dashboards that monitor exchange-wide health, leverage ratios, and margin utilization.
● Translate complex risk requirements into technical specifications for the development of automated risk-mitigation tools.
4. Trader Experience & Market Microstructure
● Collaborate with the Customer Experience (CX) team to investigate trader complaints regarding high slippage or liquidity constraints.
● Analyze order book depth and execution quality to understand how liquidity gaps contribute to liquidation cascades.
Qualifications & Skills
● Experience: 3–5 years in Risk Management, Quantitative Analysis, or Operations within a Crypto Exchange, FinTech, or Traditional Derivatives Clearinghouse (CCP).
● Deep Domain Knowledge: Strong grasp of perpetual swaps, futures, and the mechanics of auto-deleveraging (ADL).
● Technical Proficiency: Ability to work with SQL for data extraction and Python/R for quantitative modeling. Experience with BI tools (Tableau, Grafana, or Looker) is a plus.
● Problem Solving: A "detective" mindset—you enjoy digging into trade logs to find out exactly why a liquidation went wrong.
● Communication: Ability to explain complex margin mechanics to non-technical stakeholders and customers.
Benefits
What you can expect from us:
● Collaborative remote work environment that allows you to have a work life balance.
● Growth framework that drives fast, continuous improvement
● Opportunity to learn and collaborate with the leadership team.
● Exciting team offsites and employee engagement activities.
Delta Exchange is a high-performance digital asset derivatives exchange.
Founded in 2018, Delta is backed by marquee investors like Aave, Kyber Network, SinoGlobal Capital, QCP, LuneX, Gumi Cryptos, BR Capital, CoinFund and more.
Delta offers Futures, Perpetuals & Options trading across Bitcoin and leading Altcoins with up to 100x leverage.
Delta also has a suite of innovative product offering like Interest Rate Swaps, Calendar Spreads, Turbo Options and Robo Trading Strategies.
Our mission is to accelerate the advancement of the cryptocurrency financial system by building a highly-liquid and trusted derivatives trading platform developed to serve both retail and institutional traders.
With a powerful matching engine, an intuitive interface, advanced order types and lightning-fast APIs, Delta provides access to an institutional-grade trading platform built for the digital asset markets.
