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Flowdesk · 1 month ago

Front Office Risk Manager - Crypto Credit Products & DeFi (F/M/D)

New York, NY

Full-time

Onsite

Senior Level

$150K/yr - $200K/yr

5+ years exp

Flowdesk is a global financial institution focused on digital assets, aiming to enhance market integrity and efficiency. They are seeking a skilled Front Office Risk Manager to lead the design and implementation of risk management frameworks, working closely with various teams to ensure compliance and optimize operations. This role is crucial for shaping Flowdesk's risk culture and supporting sustainable growth.

CryptocurrencyFinancial ServicesFinTechInformation TechnologyWeb3

Responsibilities

Monitor bilateral and exchange-based lending exposures in real time, including margin loans, structured loans, and combined loan+option transactions

Assess counterparty creditworthiness, including crypto-native entities, exchanges, and DeFi protocols, using both quantitative metrics (collateral ratios, liquidity, volatility) and qualitative assessments

Track and escalate breaches of internal exposure limits (counterparty, sector, or protocol concentration)

Support the structuring of loans linked with options or other derivatives, ensuring risk/reward is aligned with risk appetite

Model default and collateral liquidation scenarios for structured transactions

Monitor variation margin flows and ensure adequacy of collateral buffers under stress

Oversee DeFi positions and exposures across lending protocols, AMMs, and on-chain derivatives

Evaluate smart contract risks, protocol liquidity, governance centralization, and composability risks

Monitor on-chain liquidation thresholds, oracle dependencies, and slippage exposure

Track gas fee and network congestion risks that can delay liquidations or collateral transfers

Assess the quality of posted collateral (token volatility, liquidity depth, rehypothecation rights)

Apply and monitor dynamic haircuts based on volatility and liquidity conditions

Work with Trading & Treasury to optimize collateral allocation between CeFi and DeFi venues

Run scenario analyses for counterparty defaults, protocol hacks, or extreme market moves

Quantify potential P&L, collateral shortfalls, and liquidity impacts of extreme events

Present stress results to the desk and CRO in actionable form

Ensure lending/borrowing activity complies with internal conduct standards and external regulations

Monitor for abusive trading behavior in DeFi protocols (e.g., sandwich attacks, oracle manipulation)

Provide input to compliance on new counterparties, protocols, and structured deals

Act as an embedded risk partner for the desk, providing structuring input, risk analytics, and capital efficiency guidance

Support onboarding of new DeFi venues and protocols by assessing credit and operational risks

Liaise with second-line Risk and Compliance on risk framework enhancements specific to lending and DeFi

Qualification

Risk managementCredit tradingStructured productsCollateral managementPythonSQLDeFi protocolsSmart contract risksAnalytical skillsCuriousAutonomousCommunicationIntegrityResults-driven

Required

5-10 years in risk management, credit trading, or structured products, ideally in a crypto market maker, hedge fund, or structured credit desk

Strong knowledge of crypto lending markets, structured products (loans + options, accumulators, collars), and DeFi protocols

Deep understanding of collateral management, margining frameworks, and liquidation mechanics

Ability to model structured transactions and stress-test exposures (Python, SQL, Grafana, DeFi analytics tools)

Familiarity with on-chain data sources (Dune, Nansen, DeFiLlama) and smart contract risks

Familiarity with U.S. regulatory frameworks for trading and lending, including SEC and CFTC rules on derivatives, lending disclosure requirements, FINRA conduct standards, and federal/state guidance on digital asset lending

Excellent communication skills with the ability to challenge traders constructively and escalate appropriately

Strong integrity and sound judgment, capable of acting as both partner and control function

Degree in Finance, Economics, Mathematics, or a related quantitative field; professional risk certifications (FRM/PRM/CQF) a plus

Curious and autonomous

Highly motivated and results-driven

Strong maths and analytical skills

Ability to successfully manage multiple tasks in a fast-paced collaborative environment