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Alpaca is a US-headquartered global leader in agent-first brokerage infrastructure serving hundreds of financial institutions across 40 countries. The company is a licensed financial services provider with over 10 million brokerage accounts and is backed by $400 million in funding from top-tier investors.
You will join Alpaca's Treasury function as it scales its product suite, global footprint, and self-clearing operations. This is a hands-on, analytical role offering broad exposure across Treasury, Finance, Operations, and Risk. While the title reflects managerial scope, this is primarily an individual contributor role with opportunity to grow into broader leadership as the function matures.
You will work closely with the Head of Treasury and partner cross-functionally to maintain sound liquidity governance and produce rigorous analysis under both business-as-usual and stressed conditions. Key responsibilities include:
**Daily Liquidity Reporting & Data Pipelines:** Build and own daily liquidity reporting ensuring timely, accurate views of firm liquidity positions across products and legal entities. Design and streamline data pipelines connecting Treasury, Finance, Operations, and clearing/settlement systems. Maintain broker-dealer liquidity reporting related to SEC Rule 15c3-1 (Net Capital) and 15c3-3 (Customer Reserve). Partner with Engineering and Data teams to automate reporting workflows using SQL, Python, and BI platforms.
**Intraday Monitoring:** Build and maintain real-time and intraday liquidity monitoring capabilities to track cash positions, settlement flows, margin movements, and funding needs. Establish intraday liquidity metrics, limits, and early warning indicators; investigate breaches and prepare escalation materials. Support same-day funding and treasury operations decisions with timely liquidity analysis during market hours.
**Intraday Stress Testing:** Develop and implement intraday stress testing capabilities to assess the impact of sudden market moves, margin calls, settlement disruptions, and customer activity spikes on firm liquidity. Run and refine intraday stress scenarios in coordination with Treasury Operations and Risk teams.
**Longer-Term Stress Testing:** Build out the firm's longer-term stress testing program, including scenario design, assumption documentation, model runs, and results reporting. Develop and update stress scenarios to assess impacts on net capital, customer reserve, firm liquidity, and settlement flows. Participate in integrated stress exercises with Market Risk, Credit Risk, and Operational Risk teams.
**Monte Carlo Simulations:** Build and maintain Monte Carlo simulation models to complement deterministic stress testing and better capture the distribution of potential liquidity outcomes under adverse conditions. Calibrate simulation inputs, validate model outputs, and incorporate results into Treasury liquidity planning.
**Alerting & Controls:** Design and implement alerting frameworks to notify Treasury leadership of limit breaches and deteriorating liquidity metrics. Build out the controls infrastructure necessary to support liquidity risk governance. Prepare analysis and documentation for regulatory examinations, internal audits, and management reporting.
**Cross-Functional Support:** Provide liquidity risk input in the New Product Approval process. Partner with Engineering, Product, and Operations to stress-test margin engines and settlement workflows. Contribute to Enterprise Risk Management deliverables. Help document policies and procedures as the Treasury function scales. Stay current on regulatory developments and emerging liquidity risks in fintech and digital asset markets.
**Requirements:**
- 2-4 years experience in liquidity risk, treasury, financial risk, middle office, or balance sheet analytics within a broker-dealer, bank, or fintech environment
- Solid understanding of broker-dealer liquidity and capital requirements, including SEC Rules 15c3-1 and 15c3-3
- Hands-on experience building or supporting liquidity reporting, data pipelines, and stress testing programs
- Experience with intraday liquidity monitoring, stress testing, or real-time risk reporting
- Familiarity with Monte Carlo simulation techniques or probabilistic risk modeling
- Familiarity with Treasury operations, cash management, and funding workflows in a regulated environment
- Working knowledge of risk governance concepts and how Treasury and Risk functions interact in a broker-dealer setting
- Proficiency in SQL and Python (or similar) for data analysis, pipeline development, reporting automation, and working with large datasets
- Strong attention to detail and ability to produce clear, well-structured analysis for senior stakeholders
- Comfortable working cross-functionally in a fast-paced, remote-first startup environment
**Nice-to-Haves:**
- Experience at a self-clearing broker-dealer or carrying/clearing firm
- Experience building alerting, monitoring, or controls frameworks from scratch
- Exposure to SPAN, TIMS, or margin methodologies and their liquidity implications
- Familiarity with crypto/digital asset liquidity risk or 24/5 trading environments
- Experience supporting SEC/FINRA examinations or internal audit requests
- Knowledge of international regulatory frameworks across Alpaca's global subsidiaries
- FRM, CFA, or similar certification (or in progress)
- Prior experience in a high-growth fintech where processes and frameworks are still being built
