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Polymarket is the world's largest prediction market platform, enabling individuals to trade on real-world outcomes across politics, economics, sports, culture, and current affairs. With $21B traded in 2025, the company is scaling rapidly as a trusted source for market-based probability assessments.
As Head of Market Risk, you will own the firm's comprehensive market risk framework across both the Futures Commission Merchant (FCM) and Derivatives Clearing Organization (DCO) operations. This is a senior, hands-on leadership role requiring direct responsibility for identifying, measuring, monitoring, and controlling market risks from cleared member portfolios and the risks the clearinghouse mutualizes as a central counterparty.
Key responsibilities include:
- Develop and maintain the end-to-end market risk framework, including risk appetite, limit structures, escalation triggers, and governing policies
- Serve as primary market-risk voice to the Risk Committee and Board, presenting exposures, stress results, and emerging risks in actionable terms
- Ensure compliance with CFTC requirements and DCO Core Principles; support regulatory and internal audits
- Partner with CRO/CEO on risk appetite calibration and alignment between FCM and DCO risk profiles
- Set, monitor, and calibrate initial and variation margin, add-ons, concentration and liquidity charges across cleared products
- Collaborate with quants and developers to build an integrated risk platform implementing DCO methodology
- React decisively to market dynamics—widening spreads, volatility spikes, gap risk—by adjusting parameters proactively
- Oversee daily monitoring of house and member exposures, margin coverage, and limit breaches
- Design and execute stress tests, reverse stress tests, and scenario analysis including extreme macro shocks; size guaranty/default fund
- Contribute market-risk expertise to default management, including auction and liquidation of defaulting member portfolios
- Monitor macro and market events (central-bank decisions, geopolitical shocks, expiries) and assess portfolio impact
- Build and lead the market risk team, establishing standards for analytics, monitoring, and reporting
- Embed risk controls into daily operations and system design through cross-functional collaboration
- Engage directly with clearing members on risk profiles, margin requirements, and exposure concentrations
You bring 10+ years in market or clearing risk, trading, or related disciplines, with prior trading experience on a desk (derivatives, futures, options, fixed income, commodities, or equities). You have hands-on expertise in market-risk methodologies (VaR, Expected Shortfall, stress testing, SPAN, portfolio margining) and working knowledge of CFTC regulations and DCO Core Principles. A bachelor's degree in a quantitative field is required. Preferred qualifications include clearinghouse or FCM experience, advanced degrees (MBA, MFE), professional certifications (FRM, CFA, PRM), and participation in default-management events or industry simulations.
