Financial Risk Manager

Key Priorities

This role will be responsible for building out the following core capabilities:

• Daily liquidity reporting and streamlined data pipelines
• Intraday liquidity monitoring
• Intraday stress testing
• Longer-term stress testing
• Monte Carlo simulations for stress testing
• Alerting frameworks and other necessary controls

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 to reduce manual effort and improve data quality
• Help maintain broker-dealer liquidity reporting related to SEC Rule 15c3-1 (Net Capital), SEC Rule 15c3-3 (Customer Reserve), and related FINRA/SEC requirements
• 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 throughout the day
• Establish intraday liquidity metrics, limits, and early warning indicators (EWIs); investigate breaches and prepare escalation materials for Treasury leadership
• 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
• Ensure intraday stress results are actionable for real-time decision-making

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 — including market-wide and tail-risk events — to assess impacts on net capital, customer reserve, firm liquidity, and settlement flows across multiple time horizons
• Participate in integrated stress exercises with Market Risk, Credit Risk, and Operational Risk teams and help synthesize results for Treasury and Risk stakeholders
• Review and challenge assumptions used in stress models; flag areas requiring further review or remediation

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 and risk limit setting

Alerting & Controls

• Design and implement alerting frameworks to notify Treasury leadership of limit breaches, deteriorating liquidity metrics, and stress test threshold breaches
• Build out the controls infrastructure necessary to support liquidity risk governance, including escalation protocols, documentation standards, and audit trails
• Prepare analysis and documentation for regulatory examinations, internal audits, and management reporting; coordinate with the Risk team as needed

Cross-Functional Support

• Provide liquidity risk input in the New Product Approval (NPA) process, identifying potential funding and liquidity considerations for new asset classes, leveraged products, and international expansion
• Partner with Engineering, Product, and Operations to help stress-test margin engines, settlement workflows, and treasury systems
• Contribute to ERM deliverables such as the Risk Register and Key Risk Indicators (KRIs) in coordination with the CRO and Risk team
• Help document policies, procedures, and methodologies as the Treasury function scales
• Stay current on regulatory developments, industry stress events, and emerging liquidity risks in fintech and digital asset markets

Who You Are (Must-Haves):

• 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

Who You Might Be (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

How We Take Care of You:

• 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

Alpaca is proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse workforce.