Market Risk Analyst

Alpaca

Market Risk Analyst at Alpaca focusing on sustainable growth and risk management across financial products. Engaging in cross-functional support and contributing to Enterprise Risk Management framework development.

Posted 4/28/2026full-timeRemote • 🇺🇸 United StatesJuniorMid-LevelWebsite

Tech Stack

Tools & technologies

PythonSQL

About the role

Key responsibilities & impact

Design, implement, and monitor risk limits for new products. Perform daily monitoring of Value-at-Risk (VaR), stress testing, and sensitivity analysis.
Collaborate with Engineering and Product teams to refine and stress-test our Margin engine, ensuring margin requirements accurately reflect cross-product offsets and tail risks.
Assist in the design and roll-out of the Enterprise Risk Management framework. This includes defining Risk Appetite Statements (RAS), maintaining the Risk Register, and developing Key Risk Indicators (KRIs) that span across the organization.
Act as the risk lead for the launch of new products, identifying unique risks associated with event-based binary outcomes and liquidity fragmentation.
Develop forward-looking scenarios (including "black swan" events) to assess the impact of market volatility on the firm’s capital and liquidity positions.
Support the wider Risk team in Operational Risk assessments, internal audits, and regulatory reporting requirements.
Build automated risk dashboards and reporting tools using SQL/Python to provide real-time insights to the Chief Risk Officer and Senior Management.

Requirements

What you’ll need

2–5 years of experience in Market Risk, Middle Office, or Quantitative Analysis within a fintech, hedge fund, or high-frequency trading environment.
Deep understanding of derivatives (Futures/Options) and margin mechanics. Experience with Prediction Markets or event-driven trading is a significant plus.
A solid understanding of the "Three Lines of Defense" model and a desire to contribute to broader risk governance beyond just market data.
Proficiency in SQL and Python (or R) for data analysis. You should be comfortable handling large datasets and building your own risk models.
The ability to operate in a "gray area" defining risk parameters for novel products that may not have established industry benchmarks.
Ability to distill complex quantitative risks into actionable insights for non-technical stakeholders and executive leadership.
A degree in a quantitative field (Finance, Mathematics, Physics, Economics, or Engineering). Financial Risk Manager (FRM) or CFA designation is a plus.

Benefits

Comp & perks

Competitive Salary & Stock Options
Health Benefits
New Hire Home-Office Setup: One-time USD $500
Monthly Stipend: USD $150 per month via a Brex Card

ATS Keywords

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Hard Skills & Tools

Value-at-Risk (VaR)stress testingsensitivity analysisSQLPythondata analysisrisk modelingderivativesmargin mechanicsKey Risk Indicators (KRIs)

Soft Skills

collaborationcommunicationanalytical thinkingproblem-solvingability to distill complex informationleadershipoperating in ambiguityrisk governance

Certifications

Financial Risk Manager (FRM)CFA designation