Senior Market Risk Manager / Chief Risk Officer (Hebrew speaker)

Sector: Hedge Fund – Proprietary Trading Role: Chief Revenue Officer - Hebrew speaker Salary: Up to 15,000 gross euro per month Location: Limassol (onsite)

This role is for those who are based in Cyprus or willing to relocate to Cyprus.

On behalf of our client, we are seeking an experienced Senior Market Risk Manager / Chief Risk Officer to join a newly established investment fund based in Limassol.

This is a hands on market risk position. We are specifically looking for someone with strong experience in trading environments, derivatives, interest rates and FX rather than primarily regulatory, compliance or operational risk experience. The successful candidate will also play a key role in establishing the fund’s risk infrastructure, limits, reporting framework and live risk monitoring capabilities.

Key Responsibilities

• Monitor the fund’s positions and market exposures on an ongoing basis at position, strategy and total portfolio level.
• Monitor and analyse VaR, Expected Shortfall, stress tests, scenario analysis, DV01, option Greeks, FX exposure, gross and net exposure, leverage, concentration, liquidity and drawdown.
• Independently assess risks arising from interest rate products, government bonds, IRS, futures, FX forwards, FX options and other derivatives.
• Analyse Relative Value strategies, yield curve positions, spread trades, basis trades, directional macro positions and other trading strategies.
• Establish and maintain risk limits at fund, strategy and position level, including warning thresholds, operating ranges and hard limits.
• Monitor compliance with risk limits in real time and immediately escalate material breaches or unusual changes in portfolio risk.
• Work with Bloomberg MARS Enterprise or equivalent institutional risk systems to develop the fund’s live risk monitoring infrastructure.
• Ensure accurate and timely capture of trades from Prime Brokers, execution platforms and external trading venues into the risk system.
• Identify missing trades, data inconsistencies, pricing issues and feed failures and coordinate their resolution.
• Perform reconciliation between Prime Brokers, the risk system, trading records and the Fund Administrator.
• Develop clear live risk dashboards for the Portfolio Managers, CRO function and investor.
• Design portfolio specific stress scenarios, including significant moves in interest rates, yield curves, FX, volatility, correlations, spreads and liquidity conditions.
• Identify hidden concentrations and situations where apparently different positions create the same underlying macroeconomic or market exposure.
• Maintain a comprehensive audit trail covering risk limit breaches, alerts, actions taken and resolution of exceptions.
• Work closely with Prime Brokers, Bloomberg, the Fund Administrator and other external service providers on risk and position data.
• Participate in investment and risk meetings and provide an independent assessment of portfolio risk.
• Communicate portfolio risk clearly and effectively to the Portfolio Managers and investor.

Required Experience

• At least 7 years of relevant experience in Market Risk, Trading Risk, Hedge Fund Risk, Bank Treasury Risk, Proprietary Trading Risk or a comparable institutional trading environment.
• Strong practical understanding of fixed income, interest rates, FX and derivatives.
• Strong understanding of DV01, duration, yield curve risk, option Greeks, volatility, correlation and leverage.
• Practical experience with VaR, Expected Shortfall, stress testing and scenario analysis.
• Experience monitoring complex trading portfolios rather than primarily producing regulatory risk reports.
• Experience with Bloomberg or another institutional portfolio and risk management platform.