Head of Risk

Overview

• Role: Head of Risk
• Location: New York, NY (5 days/week in-office)
• Base Salary: $175,000-$250,000
• Equity: Competitive Initial Equity Package + refreshers
• Experience: 7-12+ Years

The Role

Pillar operates as a client-first, risk-intermediating platform. Every hedge we facilitate on behalf of a client creates an exposure that must be measured, controlled, and neutralized. We are looking for a Head of Risk to own that function end-to-end, across both market and credit risk.

This role is the guardian of Pillar's balance sheet. You will build the frameworks, systems, and discipline that ensure every exposure is intentional, bounded, and rapidly hedged. You will work directly with the executive team, engineering, compliance, and product to ensure that as Pillar scales, its risk posture remains tight and its capital is used efficiently.

What You'll Do

• Market Risk and Hedging: Build real-time visibility into firm-wide exposure arising from client hedging activity, execution timing differences, and temporary risk warehousing. Design and implement systematic hedging strategies to neutralize exposure quickly and efficiently across futures, options, and OTC markets, minimizing slippage, basis risk, and execution cost.
• Credit Risk and Counterparty Management: Design and own Pillar's credit risk framework, including counterparty assessment and onboarding standards, exposure limits, credit lines, and margining and collateral policies. Underwrite and monitor risk for clients receiving margin support or financing. Build models to track exposure at default, collateral coverage, and margin sufficiency. Define and enforce escalation protocols for margin calls, position reductions, and trading restrictions.
• Integrated Risk Controls: Ensure market and credit risks are managed in tandem. Model and monitor wrong-way risk, liquidity risk during volatile periods, and stress scenarios covering rapid price movements, counterparty deterioration, and market dislocations. Maintain a framework where residual risk is tightly bounded at all times.
• Balance Sheet and Capital Efficiency: Define clear principles for when Pillar may temporarily warehouse risk versus immediately hedge, and when to extend credit versus require full collateralization. Build frameworks for risk-adjusted exposure limits and margin utilization. Partner with leadership to scale Pillar's capabilities without taking on unbounded risk.
• Systems and Infrastructure: Work with engineering to build real-time risk dashboards, automated hedging and rebalancing systems, and counterparty exposure monitoring tools. Integrate risk controls directly into execution and product workflows.
• Product and Strategy Partnership: Shape Pillar's credit-enabled hedging products in a risk-controlled manner. Advise on structured hedging solutions, execution strategies, and client onboarding and risk segmentation. Partner with compliance to ensure alignment with CFTC/NFA and global regulatory expectations.

What We're Looking For

• 7-12+ years of experience in risk management, trading, or credit at a commodity firm, bank, FCM, or hedge fund
• Deep experience across both market risk (derivatives, hedging) and credit risk (counterparty, margining, underwriting), with meaningful exposure to both sides preferred
• Strong understanding of futures, options, and OTC derivatives, as well as margining, collateral, and financing structures
• Experience managing risk in environments where exposure must be tightly controlled and neutralized, not warehoused or run directionally
• Strong quantitative and systems mindset; Python or equivalent experience preferred
• Comfortable operating at an early-stage company where frameworks need to be built from scratch and pace matters as much as rigor

Nice to Have

• Experience in client facilitation or agency-style trading environments
• Background at commodity merchants, FCMs, or prime brokers
• Familiarity with trade finance or working capital solutions
• Prior experience building risk systems from scratch at a scaling company

Benefits

• Competitive Salary & Equity
• 401(k) Program
• Health, Dental, Vision and Life Insurance
• Unlimited PTO and Flexible Hours
• Paid lunch, coffee, snacks (and dinner if you're staying late)
• Monthly Gym Stipend
• Regular Team Off-Sites

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