Head of Market Risk
Washington, DC
Full Time
Manager/Supervisor
Job Title: Head of Market Risk
Location: Washington, D.C.; hybrid after 90 days
Status: Full-time; Exempt
Reports to: Head of Risk (Under ‘MEM’ and ‘MEL’)
Direct Reports: N/A
Typical Work Hours: 8:30 a.m. to 5:00 p.m. Monday to Friday; hybrid after 90 days
Monex USA (‘MUSA’), a leader in foreign exchange (FX) and international business payments, was established in 1999 to provide corporate clients with the best foreign exchange and international payment solutions in the industry with tools to help them manage their currency exposure, improve cash flow, and leverage global market opportunities. In 2010 we joined Monex Group, one of the world’s largest commercial foreign exchange providers, to further expand our place in the global market.
Monex Europe Markets Limited (MEM’) is authorized by the Financial Conduct Authority to provide foreign exchange financial instruments (FX derivatives) to professional clients. From 9 December 2019, the senior managers and certification regime (SM&CR) applied to MEM on a mandatory basis.
Monex Canada, Inc. (‘MCI’) is registered with the Financial Transactions and Reports
Analysis Centre of Canada (FINTRAC) and Revenu Quebec in Québec as a money service
business.
MonFX Pte. Limited (‘MonFX’) is licensed as a major payment institution and has a
Capital Markets Services License from the Monetary Authority of Singapore (MAS).
Monex Europe S.A. (‘MESA’) is a commercial foreign exchange (spot and MiFID 2
exempt forward contracts) provider and authorized by CSSF Luxembourg as a payment
services firm to passport its services across the EEA.
Monex Europa SL (‘MESL’) is a commercial foreign exchange (spot and MiFID 2
exempt forward contracts) provider and authorized by Bank of Spain as a payment
services firm to passport its services across the EEA.
Monex Europe Markets SV, SAU (MEMSV’) is a broker-dealer entity, authorized by
the Spanish Comisión Nacional del Mercado de Valores (“CNMV”) to provide foreign
exchange financial instruments (FX derivatives) to professional clients.
Monex Technology Solutions Ltd (MTS’) is a developer of proprietary software & IT
services in relation to proprietary software. The software is used by group companies &
offers functionalities such as CRM, execution of FX, payment services & regulatory
compliance.
Monex Europe Limited (‘MEL’) is a commercial foreign exchange (spot and MiFID 2 exempt forward contracts) provider and authorized by the Financial Conduct Authority as a payment services firm.
The Head of Market Risk will be responsible for leading the market risk function in overseeing and managing all aspects of market risk exposure within the FX brokerage business. The role ensures that trading, hedging, and client-facing operations are conducted within approved risk frameworks, and that risks arising from FX volatility, liquidity mismatches, capital volatility and FX Hedging programs are effectively measured and controlled.
Responsibilities
Monex USA Inc. is an Equal Opportunity Employer. Diversity is valued and the company will not tolerate any form of discrimination or harassment.
Location: Washington, D.C.; hybrid after 90 days
Status: Full-time; Exempt
Reports to: Head of Risk (Under ‘MEM’ and ‘MEL’)
Direct Reports: N/A
Typical Work Hours: 8:30 a.m. to 5:00 p.m. Monday to Friday; hybrid after 90 days
Monex USA (‘MUSA’), a leader in foreign exchange (FX) and international business payments, was established in 1999 to provide corporate clients with the best foreign exchange and international payment solutions in the industry with tools to help them manage their currency exposure, improve cash flow, and leverage global market opportunities. In 2010 we joined Monex Group, one of the world’s largest commercial foreign exchange providers, to further expand our place in the global market.
Monex Europe Markets Limited (MEM’) is authorized by the Financial Conduct Authority to provide foreign exchange financial instruments (FX derivatives) to professional clients. From 9 December 2019, the senior managers and certification regime (SM&CR) applied to MEM on a mandatory basis.
Monex Canada, Inc. (‘MCI’) is registered with the Financial Transactions and Reports
Analysis Centre of Canada (FINTRAC) and Revenu Quebec in Québec as a money service
business.
MonFX Pte. Limited (‘MonFX’) is licensed as a major payment institution and has a
Capital Markets Services License from the Monetary Authority of Singapore (MAS).
Monex Europe S.A. (‘MESA’) is a commercial foreign exchange (spot and MiFID 2
exempt forward contracts) provider and authorized by CSSF Luxembourg as a payment
services firm to passport its services across the EEA.
Monex Europa SL (‘MESL’) is a commercial foreign exchange (spot and MiFID 2
exempt forward contracts) provider and authorized by Bank of Spain as a payment
services firm to passport its services across the EEA.
Monex Europe Markets SV, SAU (MEMSV’) is a broker-dealer entity, authorized by
the Spanish Comisión Nacional del Mercado de Valores (“CNMV”) to provide foreign
exchange financial instruments (FX derivatives) to professional clients.
Monex Technology Solutions Ltd (MTS’) is a developer of proprietary software & IT
services in relation to proprietary software. The software is used by group companies &
offers functionalities such as CRM, execution of FX, payment services & regulatory
compliance.
Monex Europe Limited (‘MEL’) is a commercial foreign exchange (spot and MiFID 2 exempt forward contracts) provider and authorized by the Financial Conduct Authority as a payment services firm.
The Head of Market Risk will be responsible for leading the market risk function in overseeing and managing all aspects of market risk exposure within the FX brokerage business. The role ensures that trading, hedging, and client-facing operations are conducted within approved risk frameworks, and that risks arising from FX volatility, liquidity mismatches, capital volatility and FX Hedging programs are effectively measured and controlled.
Responsibilities
- Monitor exposure to FX risk across all trading desks, client books, and liquidity providers.
- Develop and enforce limits for FX exposure, leverage, and position concentrations.
- Oversee real-time risk monitoring and intraday reporting, especially during high-volatility periods.
- Conduct daily dashboard and committee reporting.
- Design and implement the market risk framework, policies, and methodologies tailored for MNI.
- Oversee the calculation and analysis of Value-at-Risk (VaR), stress testing, P&L attribution, and other key risk metrics.
- Execute limits to manage liquidity risk.
- Ensure full compliance with local and international regulations (e.g., MiFID II, ESMA, ASIC, FCA guidelines).
- Measure and apply limits for capital risk.
- Develop risk-adjusted return models.
- Oversee the implementation and maintenance of market risk systems (e.g., Fenics, Murex).
- Build and lead a high-performing risk team.
- Mentor junior analysts and managers.
- Collaborate with Vancouver Software Developers.
- Bachelor’s or Master’s degree in Finance, Economics, Mathematics, or a related field.
- 10+ years of experience in market risk, preferably within the FX brokerage sector.
- Deep understanding of FX products, including spot, forwards, options, and margin trading.
- Experience with regulatory frameworks applicable to FX brokers.
- First-class modelling skills.
- Familiarity with trading platforms.
- Strong written and verbal communication skills.
- Proficiency in Excel, Python, SQL, or other risk analytics tools is a strong plus.
- Strategic and commercial mindset with deep risk expertise.
- Strong decision-making ability, particularly under pressure.
- Excellent stakeholder management and communication skills.
- High integrity and a strong commitment to regulatory compliance.
- Analytical thinker with a proactive, solution-oriented approach.
- Certifications in FRM (Financial Risk Manager), CFA (Chartered Financial Analyst), or any relevant regulatory certifications (e.g., CySEC Advanced, FCA SMF function experience).
- The annual salary range is $150,000 to $170,000 based on experience with a 10% annual bonus.
- This role requires about 10-20% travel including trips to London, Toronto, Madrid and Vancouver each year.
- Medical insurance
- Dental insurance
- Vision insurance
- Long Term Disability
- Short Term Disability
- AD&D insurance
- Commuter Benefits
- 401K & Roth
- 16 days of PTO
- Pet Insurance
Monex USA Inc. is an Equal Opportunity Employer. Diversity is valued and the company will not tolerate any form of discrimination or harassment.
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