What are the responsibilities and job description for the Chief Risk Officer – Prediction Markets & Clearing position at Madison-Davis, LLC?
Title: Chief Risk Officer – Prediction Markets & Clearing
Office Status: Hybrid – New York, NY
Base Salary: $275,000–$400,000
Overview:
A rapidly scaling, regulated digital marketplace is seeking its first senior risk hire to establish and lead firmwide risk management. This hands-on role will design and implement risk frameworks across trading and clearing operations while partnering closely with product and engineering teams. The organization operates a high-velocity, fintech-inspired trading platform in a fast-moving, high-growth environment, requiring a proactive, entrepreneurial approach and occasional extended hours to support live market activity. The role will also build and grow a small, lean risk team to scale with the business.
Key Responsibilities:
- Build and own the risk management function as the firm’s first dedicated risk leader
- Design, implement, and oversee clearing and settlement risk frameworks, including default management, margining, and stress testing
- Establish and govern margin and collateral methodologies, ensuring ongoing calibration as trading volumes scale
- Develop market risk monitoring, exposure limits, and real-time dashboards across both trading and clearing operations
- Lead scenario analysis and stress testing for volatility events, market dislocations, and extreme outcomes
- Act as the primary decision-maker during market stress events, including escalation and response
- Partner directly with product and engineering teams to embed practical risk controls into platform design
- Serve as the primary risk liaison with regulators, including experience engaging with derivatives and swap market regulators (e.g., CFTC)
- Support regulatory examinations, inquiries, and ongoing supervisory interactions related to market structure, clearing, and collateral processes
- Create lightweight governance, reporting, and escalation processes appropriate for a high-growth environment
- Lay the foundation for a future risk organization, including hiring strategy and operating model design
Salary : $275,000 - $400,000