Head of Market Risk

Location: Amsterdam, NL (Hybrid)

Who we are

One Trading is a leading European trading venue, authorised under both MiFID II and MiCAR, providing institutional and eligible retail clients with a regulated trading platform to trade crypto spot, crypto derivatives, and US equity derivatives, 24/7.

Having launched the EU’s first regulated crypto perpetual futures in 2025, we are expanding our product offering into traditional financial markets, with an ambitious roadmap spanning additional asset classes, products, and strategic partnerships.

The role

We are seeking a Head of Market Risk to lead the Market Risk function of our regulated trading venue.

This is a hands-on role responsible for managing market risk across our 24/7 spot and derivatives markets, overseeing trading controls, margin and liquidations, and market maker relationships. You will take ownership of maintaining orderly markets, including making decisions on trading halts and other market interventions where necessary.

Working closely with Trading Operations, Engineering, Product, and Compliance, you will help ensure our markets operate safely, efficiently, and in accordance with regulatory requirements, while supporting the development and launch of new products.

What you’ll do

• Lead market risk management. Develop and maintain market risk frameworks, policies, limits, and KRIs across our spot and derivatives markets, monitoring volatility, liquidity, leverage, and concentration risk.

• Ensure orderly markets. Monitor trading activity and market conditions, oversee trading risk controls including price collars, circuit breakers, order limits, and kill switches, and make decisions on trading halts and other market interventions to maintain fair and orderly trading.

• Oversee margin and liquidations. Monitor and challenge margin methodologies, collateral requirements, liquidation mechanisms, pricing and reference rates, and other key derivatives risk parameters.

• Manage market maker relationships. Own relationships with market makers, oversee liquidity provision, monitor performance against KPIs, SLAs, and trading obligations, and work with participants to maintain competitive and resilient markets.

• Lead stress testing and analysis. Develop stress testing, scenario analysis, and quantitative risk monitoring to assess the impact of extreme market movements, liquidity disruptions, and other adverse market conditions.

• Support product development and risk reporting. Assess market risks associated with new products and instruments, provide clear reporting and recommendations to senior management, and work closely with Tech, Product, Trading Operations, and Compliance to support innovation and regulatory requirements.

What you’ll bring

• Market risk experience. 5+ years of relevant experience in market risk, trading risk, or quantitative risk within a trading venue, exchange, broker, market maker, or comparable financial markets business.

• Derivatives expertise. Strong understanding of derivatives, market microstructure, leverage, liquidity, margin, liquidations, and the risk dynamics of electronic trading venues.

• Quantitative capability. Experience with market risk measurement, stress testing, scenario analysis, risk modelling, and analysing large volumes of trading and market data. Proficiency in Python, SQL, or similar tools is an advantage.

• Trading controls and market operations. Practical knowledge of pre-trade risk controls, circuit breakers, trading halts, market access controls, and maintaining orderly markets in automated trading environments.

• Market maker and regulatory knowledge. Experience working with liquidity providers or market makers, including performance monitoring and liquidity management. Understanding of MiFID II OTF trading venue requirements (distinct from MTF). MiCAR and digital-asset experience is an advantage.

• Communication and judgement. Able to make sound decisions under pressure, provide independent challenge, and work effectively with trading participants, technical teams, and senior leadership. FRM, PRM, CFA, or equivalent is an advantage. Business-level English is required; Dutch is an advantage.

What we offer

• Leadership and autonomy. Lead market risk management at a regulated European trading venue, with significant responsibility for trading controls, market stability, and market maker relationships.

• High impact. Play a central role in maintaining orderly markets, launching innovative products, and supporting the continued growth of the business.

• Competitive compensation and hybrid working from Amsterdam.