Head of Risk

WHO ARE WE? ElectronX® is the first U.S.-regulated, direct access electricity derivatives market, offering financial products to address volatile short-term price exposure to electricity. With offices in Chicago and New York City, ElectronX is building the missing financial infrastructure and risk management tools necessary to smooth the path for U.S. energy production, diversification and grid expansion in a time of rapidly increasing power demand. ElectronX is a venture capital-backed startup supported by premier VC partners including Innovation Endeavors, Systemiq Capital, Equinor Ventures, Shell Ventures LLC, DCVC, Amplo, BoxGroup and Lightning Capital. WHO ARE WE LOOKING FOR? As a fast-growing company in the highly competitive, quantitative capital markets industry, ElectronX values candidates who are resourceful, curious and adaptable to change. Our cultural focus on innovation requires collaborative and entrepreneurial teammates with the intellectual grit necessary for near- and long-term success. ElectronX is building a CFTC-regulated Derivatives Clearing Organization from the ground up, and risk management is the backbone of everything we do. As we expand across all U.S. ISOs and transition to margin-based trading, we need a Head of Risk who can design the enterprise risk framework that makes it all possible. This role works in close partnership with and in support of ElectronX’s Chief Risk Officer to build and execute that framework. This isn’t a role where you inherit a risk program and maintain it. You’re building it. You’ll define how ElectronX thinks about risk across every dimension: market, credit, counterparty, operational, and liquidity. You’ll set the risk appetite for a fast-growing exchange, stand up the monitoring and surveillance infrastructure, and make sure we’re not just compliant but ahead of where regulators are going. The right person has seen risk management done well at established institutions and knows what to take from that experience and what to leave behind. You want to build a risk function that’s modern, quantitative, and designed for the speed and complexity of energy markets. WHAT WILL YOU BE DOING? Enterprise Risk Framework - Own the end-to-end risk management framework for the exchange and DCO. - Define the enterprise risk appetite and tolerance statement. - Build the risk governance structure including policies, procedures, and escalation frameworks. - Establish risk reporting to the Board, regulators, and senior leadership. - Develop and chair the Risk Committee. Market & Credit Risk - Design and oversee margin model validation, stress testing, and back-testing programs. - Manage counterparty credit risk assessment and ongoing monitoring for clearing members. - Develop position limits, concentration risk policies, and large trader surveillance. - Build default fund sizing methodologies and maintain the default waterfall. - Own recovery and resolution planning. Operational & Liquidity Risk - Stand up the operational risk program covering technology risk, business continuity, and third-party risk management. - Build real-time risk monitoring and surveillance systems that can scale with 24x7 trading. - Manage liquidity risk including liquidity stress testing and contingency funding planning. - Establish robust financial controls for wire processing, cash reconciliation, and treasury operations. - Ensure full compliance with customer funds segregation and protection requirements. Regulatory - Serve as the primary risk liaison with the CFTC and other regulatory bodies. - Lead risk-related regulatory filings, rule submissions, and examination readiness. - Ensure compliance with CFTC Part 39 requirements around risk management, financial resources, and default procedures. - Stay ahead of evolving regulatory expectations and proactively adapt the risk framework. Team & Stakeholders - Build and lead a high-performing risk management team. - Collaborate closely with compliance and finance on…