Director, Product Manager (Portfolio Margin and Risk)

About the role

Galaxy is seeking an experienced and strategic Product Manager to lead the development and enhancement of our portfolio margin and risk management systems. This role involves designing scalable, efficient, and innovative margin infrastructure that supports our multi-asset trading platform, including derivatives, spot, futures, options, and structured products. You will be responsible for creating systems that improve capital efficiency, facilitate real-time risk assessment, and support the growth of our trading capabilities. The ideal candidate will have a strong background in derivatives, risk management, and margin methodologies, with a focus on leveraging AI tools to streamline product development and documentation. This position offers an exciting opportunity to shape the future of margin and risk infrastructure within a fast-growing fintech environment.

Key facts

What you'll do

• Lead the design, development, and continuous improvement of a comprehensive portfolio margin system that encompasses a wide range of financial instruments, including spot, futures, options, and structured derivatives.
• Develop detailed product requirements and specifications based on various margin methodologies, such as scenario-based, correlation-based, and cross-margining approaches, ensuring they meet regulatory standards and internal risk policies.
• Build and refine tools that evaluate margin impact prior to trade execution, enabling traders and clients to understand capital requirements in real time and make informed trading decisions.
• Design the architecture for instrument modeling, ensuring accurate and efficient representation of complex financial products, including derivatives and structured notes, within the margin system.
• Collaborate closely with engineering teams to develop systems that provide real-time risk insights, portfolio aggregation, and margin calculations, ensuring high performance and reliability.
• Integrate the margin infrastructure seamlessly with other trading and risk management platforms, aligning with broader capital considerations, regulatory compliance, and operational workflows.
• Oversee workflows from pre-trade margin estimation to post-trade reporting, ensuring a consistent, user-friendly experience for traders, risk managers, and compliance teams.
• Lead cross-functional discussions on system performance, usability, and regulatory requirements, maintaining clear communication with front-office traders, risk teams, and compliance officers.
• Advocate for the effective use of AI tools to enhance product development, documentation, and decision-making processes, fostering innovation within the team.
• Stay informed about evolving regulatory standards, industry best practices, and technological advancements to ensure the margin system remains compliant, competitive, and scalable.
• Drive initiatives to improve the efficiency and accuracy of margin calculations, including exploring new methodologies and integrating advanced analytics.
• Mentor junior team members and coordinate with external vendors or consultants as needed to support system development and implementation.
• Contribute to the broader product strategy, helping to define the roadmap for margin and risk management tools aligned with company growth objectives.

Requirements

• Minimum of 7 years of experience in trading product management, risk systems, or margin infrastructure within traditional finance, fintech, or crypto environments.
• Strong understanding of portfolio margin concepts, including Value at Risk (VaR), Expected Shortfall, stress testing, and margin methodologies such as Reg-T, SPAN, and cross-margining.
• Proven experience designing and implementing scalable systems for real-time risk assessment and margin calculation across multiple asset classes.
• Deep knowledge of derivatives, structured products, and their modeling within risk management frameworks.
• Familiarity with regulatory requirements related to margin rules, capital adequacy, and cross-margining techniques.
• Experience working with AI tools to streamline product development, documentation, and solution design.
• Ability to operate effectively in ambiguous environments, managing multiple priorities and collaborating across teams to deliver complex projects.
• Strong analytical skills, with an emphasis on quantitative analysis, risk modeling, and system architecture.
• Excellent communication skills, capable of translating technical requirements into clear specifications and engaging with both technical and non-technical stakeholders.
• Demonstrated ability to lead projects, mentor team members, and coordinate with external vendors or consultants.

Nice to have

• Experience developing or improving portfolio margin systems at exchanges, clearinghouses, or prime brokers.
• Familiarity with risk management frameworks such as SPAN, TIMS, and cross-margining across various asset classes, including crypto derivatives.
• Background in crypto derivatives trading or multi-asset margin platforms.
• Knowledge of treasury funding costs, balance sheet optimization, and capital allocation strategies.
• Experience working with APIs such as FIX, WebSocket, and REST, as well as data normalization techniques.
• Understanding of collateral mechanics, ISDA/CSA agreements, and collateral management processes.
• Experience managing real-time liquidation processes within crypto trading environments.

Skills & tools

• Proficiency in quantitative analysis, risk modeling, and financial instrument valuation.
• Strong analytical and problem-solving skills, with a focus on user-centric product development.
• Familiarity with AI tools for prototyping, automation, and documentation purposes.
• Excellent communication and collaboration skills, capable of working effectively across technical, trading, and compliance teams.
• Ability to translate complex technical concepts into clear, actionable requirements and documentation.

Practical notes

• This position does not require visa sponsorship.
• The role offers a competitive salary package, comprehensive health benefits, and opportunities for professional development.
• Candidates interested in applying should submit their applications by [insert application deadline].
• The position is on-site at our New York, NY office, requiring presence in the office environment.
• Candidates should be prepared for an interview process that may include technical assessments, case studies, and behavioral interviews.
• We value diversity and encourage applicants from all backgrounds to apply.
• The company provides a collaborative environment focused on innovation, growth, and excellence in financial technology.