[Remote] Director of Risk at Alpaca

United States

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, Brokerage, FintechIndustries

Requirements

Experience in risk oversight, management, or related brokerage operations functions
Ability to partner with executive leadership (COO, CCO, brokerage team) and cross-functional teams (Product, Product Ops, Engineering)
Knowledge of developing and maintaining Key Risk Indicators (KRIs)
Expertise in independent reviews, stress testing, and risk assessments
Skills in designing policies, control frameworks, and Risk and Control Self-Assessment (RCSA) programs
Capability to conduct due diligence for onboarding/offboarding correspondents/partner firms
Proficiency in issues management, including identification, risk-rating, prioritization, and resolution tracking
Experience in providing 2nd line of defence challenge to front-office risk management
Ability to research incidents, document from identification to resolution, and recommend policy/procedure changes
Skills in providing guidance, training, and promoting risk awareness, ownership, and accountability
Comfortable in a distributed, remote work environment

Responsibilities

Partner with COO, CCO, and brokerage leadership to develop and drive processes for oversight and quality control of brokerage operations
Implement risk monitoring and establish Key Risk Indicators (KRIs) for ongoing business monitoring
Set up issues management framework to identify, risk-rate, prioritize, and address issues, collaborating with Product, Product Ops, and Engineering teams
Report progress on issues to Alpaca leadership at least monthly
Develop, maintain, and adapt KRIs as the business evolves and scales
Perform independent reviews and stress testing
Design policies and control frameworks
Assess new products or business changes
Provide 2nd line of defence challenge to front-office risk management
Identify and manage risks to the organization, employees, stakeholders, assets, and operations; develop risk management strategies, objectives, and policies
Serve as primary owner for Risk and Control Self-Assessment (RCSA) and internal testing program
Serve as primary owner for due diligence related to onboarding and offboarding of correspondents/partner firms
Research incidents and issues with appropriate personnel and document from identification to resolution
Recommend and implement changes to firm policies and procedures as necessary
Provide guidance and training to promote risk control awareness, ownership, and accountability
Monitor and analyze risks within business units, including losses due to unsecured debits, and provide reports to the Firm’s Risk and Control

Skills

Key technologies and capabilities for this role

Risk ManagementRisk OversightBrokerage OperationsQuality ControlFinancial RegulationsProcess DevelopmentComplianceOversight Processes

Questions & Answers

Common questions about this position

Is this role remote or does it require office work?

Alpaca Securities maintains a distributed, remote work environment for this role.

What are the core values at Alpaca?

Alpaca's core values are Stay Curious, Have Empathy, and Be Accountable.

What does the team structure look like at Alpaca?

The team consists of 230+ globally distributed members across countries like the USA, Canada, Japan, Hungary, Nigeria, Brazil, the UK, and beyond, including experienced engineers, traders, and brokerage professionals.

What salary or compensation does this role offer?

This information is not specified in the job description.

What skills or experience make a strong candidate for this Director of Risk role?

Strong candidates should align with core values of Stay Curious, Have Empathy, and Be Accountable, and have expertise in developing Key Risk Indicators, performing independent reviews and stress testing, designing policies and control frameworks, and assessing new products or business changes.

Alpaca

API-first brokerage for stock trading

About Alpaca

Alpaca Securities LLC operates in the stock brokerage industry by providing an API-first brokerage service that allows other businesses to create their own trading applications. This service enables companies to integrate stock trading functionality into their platforms without the need to become brokers themselves, saving them time and resources. Alpaca's API supports seamless trading experiences for users and includes features like Local Currency Trading, which allows international investors to trade US stocks in their local currency. Additionally, Alpaca offers crypto wallets and coin pair trading, expanding the financial services available to its clients. Unlike traditional brokers, Alpaca focuses on a business-to-business model, catering primarily to other companies that want to offer trading services to their customers. The goal of Alpaca is to simplify the trading process for businesses and their users while providing a secure and efficient platform for executing trades.

San Mateo, CaliforniaHeadquarters

2015Year Founded

$84.5MTotal Funding

CONVERTIBLECompany Stage

Fintech, Financial ServicesIndustries

201-500Employees

Benefits

Competitive salary & stock options

Medical, dental, & vision

Home office setup stipend

Monthly Brex Card stipend

Risks

Increased competition from fintech platforms like GUGU offering commission-free trading.

Potential regulatory challenges in international markets may complicate Alpaca's expansion.

Self-clearing transition introduces operational risks in managing settlement processes.

Differentiation

Alpaca offers API-first brokerage services, enabling businesses to build trading applications.

Alpaca supports local currency trading, simplifying US stock trading for international investors.

Alpaca provides crypto wallets and coin pair trading, expanding financial services for clients.

Upsides

Alpaca's self-clearing transition enhances asset transfers and securities lending opportunities.

Partnership with Derayah Financial accelerates Middle Eastern business expansion for Alpaca.

Alpaca's limit orders and extended hours trading for fractional shares lead retail trading.

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