Electronic Trading Risk Management (ETRM) is a business unit risk team responsible for understanding and mitigating the business and regulatory risks of electronic trading of cash equities and listed derivatives. ETRM covers electronic trading activities across IED globally, including but not limited to the MSET agency execution platform, Delta One structured products, Programs trading, Electronic Market Making, etc. ETRM works closely with a diverse set of stakeholders including: Product Management, Traders, Sales Coverage, Legal and Compliance, Technology, Operations, Desk Strategists, Quantitative Research and Clients.
ETRM’s remit includes but is not limited to ownership of the following:
• Program management of large cross-IED electronic trading technology change initiatives
• The Global Limit Manager (GLM) system which provides pre-trade controls, owning the system and responsible for monitoring IED listed order flow through it on a real-time basis.
• Design and implementation of innovative electronic trading control solutions (e.g. fat-finger and runaway algo prevention), which includes enabling business development in a risk-controlled manner.
• Providing electronic trading subject matter expertise and risk oversight as it relates to:
o Existing electronic trading product risk management coverage
o Algorithm development risk management
o New product development and trade flows.
• E-trading regulatory inquiries and exchange audits
• Business unit ownership of front-office regulatory reporting product design, implementation and oversight
The successful ETRM candidate has:
• A control focused approach that includes making appropriate risk decisions in a time pressured environment
• A passion for capital markets, trading technology, and is interested in the global regulatory environment with respect to electronic trading
• A technical mind to understand the complex trading technology infrastructure
• Solution driven approach to identified issues
• Can work effectively and efficiently to drive results in a complex, fast-pace, and multi-disciplinary organization
Specific skills and experience includes some or all of the following:
• 5-8 years of experience in a role with direct exposure to trading of equities and/or listed derivatives
• Experience with electronic trading concepts, e.g. FIX messaging, market micro-structure, regulatory rules, market data, trading algorithms
• Hands-on development and/or business analysis experience with business intelligence systems, data warehousing, enterprise system integration, and data modeling
• Experience with key US electronic trading regulatory rules, such as 15c3-5, RegSHO, RegNMS, OATS, etc.
• Experience managing, mentoring, and leading a small high performing team
• Strong analytical background
• Strong project management skills
• Strong communication skills