Counterparty & Credit Risk Specialist

Counterparty & Credit Risk Specialist | Based in Barcelona Kantox is formalising its counterparty and credit risk function. As we scale our Liquidity Model client base, we need someone to build and operate the framework that governs client credit assessment, margin management, and exposure oversight, and to embed sound risk culture across our first line of defence. This is a hands-on role combining framework development with daily risk operations in a regulated fintech environment. You will work closely with Sales, Operations, Finance, and group-level risk stakeholders, and report directly to the Chief Risk and Compliance Officer, with a broader mission to develop risk awareness and embed a sound risk culture across Kantox's first line of defence. What you will work on Framework & Governance Drafting and maintaining the internal procedure and policy governing collateral and risk management, including margin methodology, eligible collateral, and escalation thresholds Designing and maintaining the Counterparty & Credit Risk Policy, ensuring periodic review covering governance, risk appetite, limit structure, and escalation protocols Defining a client tiering model based on creditworthiness and ensuring it is embedded in platform margin parameters Translating entity-level risk appetite into per-client credit limits Monitoring regulatory developments affecting counterparty and credit risk (EMIR, EBA guidelines) and assessing their impact on Kantox's framework, proposing updates to the CRO as required Supporting the development of risk awareness within Kantox's first line of defence, acting as a point of reference for Sales, Operations, and Finance on counterparty and credit risk matters Daily Risk Monitoring Monitoring counterparty exposure daily: MtM positions, margin balances, and credit limit utilisation Overseeing the margin call process to ensure calls reflect credit assessment and current market conditions Maintaining a daily monitoring report on negative MtM versus margin deposit per client, and acting on exceptions promptly Implementing the escalation process for failed margin calls, including thresholds for restricting open positions Managing credit limit breach notifications and coordinating with Sales and Operations on remediation Client Credit Assessment Conducting initial credit assessments for new clients onboarding under the Liquidity Model, including creditworthiness analysis and tier assignment Reviewing and updating credit assessments periodically and on an event-driven basis Maintaining documented credit files for each Liquidity Model client Reporting Presenting counterparty risk exposure, limit utilisation, margin call status, and recommended mitigating actions to the Risk Committee on a quarterly basis Maintaining the counterparty risk section of the internal Risk and Control Self-Assessment (RCSA) Supporting the operational risk team on any incident declarations related to counterparty or collateral events Who you are You have hands-on experience in credit risk, counterparty risk, or collateral management within a bank, broker-dealer, or regulated FX or derivatives firm. You are comfortable building frameworks from the ground up, operating them day-to-day, and communicating their implications clearly to non-risk stakeholders. Concretely: Minimum 3 years of experience in credit risk, counterparty risk, or collateral management within a bank, broker-dealer, or regulated FX or derivatives firm Direct experience with FX forwards, collateral management, and margin frameworks including initial margin, variation margin, and MtM monitoring Experience building or operating credit limit frameworks and client tiering models in an FX or derivatives context Strong quantitative skills: ability to analyse MtM portfolios, calculate margin requirements, and assess credit exposure Ability to draft clear, structured credit policy documentation in English Sound understanding of FX product mechanics (spot, forwards, swaps, options) and their credit risk implications Advanced Excel; Python or SQL for data analysis is a plus Prior exposure to EMIR, CRR, or equivalent regulatory requirements is desirable Exposure to operational risk management is a valued competency University degree in Finance, Economics, Mathematics, or a related quantitative discipline CFA, FRM, or equivalent professional certification is desirable Fluent in English; Spanish is desirable The setup You will be based in our Barcelona office, embedded within the Risk Management function as part of the second line of defence. Kantox is a 200-person fintech and a BNP Paribas company, which means you will have the agility of a scaling business and the backing of one of Europe's largest financial groups. This is a full-time, permanent role reporting to the Chief Risk and Compliance Officer. What we offer Competitive base salary 31 days of annual leave Private health insurance Free language lessons (Spanish, English and French) Flexible working hours and short Fridays Hybrid working model Sponsored learning and development budget Relocation package if required Barcelona office with 360° views of the city Fresh fruit, unlimited coffee and Pizza Fridays About Kantox We are a profitable, 200-person fintech and a BNP Paribas company, with offices in London and Barcelona. We have grown consistently since 2011, built on a product that handles real financial complexity for clients who depend on it every day. As we scale our Liquidity Model and deepen our regulatory footprint, risk management is becoming a critical function. This is a rare opportunity to build something that matters, from the ground up, inside a company that is growing. Kantox is an equal opportunity employer. We hire on merit and welcome applicants regardless of background, nationality, gender, age, sexual orientation, or disability status.