Description

Job Title
Senior Manager, Financial Risk

Job Description

About IG Group

IG is a FTSE 100 fintech operating across five continents, serving over 1.3m customers and handling billions of dollars in transactions - built on scale, trust, and proof. We didn't pivot to innovation; it's how we've always operated. What that means for the people who work here is real: genuinely complex problems to solve, the technology and resources to tackle them properly, and the kind of scope that's rare in established businesses. The bar is high - bring a curious and forward-thinking mindset and we'll give you the platform to define what comes next. Join us at IG - the future gets built here.

Our core values - Champion the Client , Learn Fast Together , and Raise the Bar - drive our commitment to delivering innovative technology and exceptional client outcomes. Led by CEO Breon Corcoran, IG is undergoing significant transformation: investing in institutional-grade risk infrastructure, deepening its quantitative and technical capabilities, and expanding its product suite across complex derivatives and leveraged instruments.

About the Opportunity

IG Group is seeking a technically exceptional, commercially sharp Senior Manager, Financial Risk to take ownership of our quantitative market risk framework - including the build, enhancement, and governance of key risk models including, VaR, Expected Shortfall, prudential stress testing, bespoke credit risk stress tests - and to drive the evolution of our risk technology capability in the cloud.

This is a player-manager role . You will be hands-on in the code, building and owning models directly, while also leading and developing a team of quantitative risk professionals. You will serve as deputy to the Head of Financial Risk , stepping up to lead the function when required.

We are looking for individuals from quantitative risk, model risk, or front-office quant backgrounds - those who have built and owned market risk models at hedge funds, proprietary trading firms, or investment banks, and who are energised by the opportunity to apply that expertise within a high-growth, technology-led fintech. Beyond the technical, you will be a role model within the team for commerciality, pace, and genuine business partnership - engaging stakeholders as a strategic enabler rather than a gatekeeper.

Key Responsibilities

Quantitative Model Build & Ownership

• Own the end-to-end design, build, validation, and ongoing enhancement of IG's critical risk models - writing and maintaining production-quality code throughout

• Apply advanced quantitative techniques including time series analysis, volatility modelling (GARCH, EWMA), correlation modelling, and copulas to continuously improve model performance

• Apply machine learning techniques to risk modelling problems - including regime detection, volatility forecasting, and anomaly detection in risk exposures

• Build and maintain a rigorous model validation framework, including back-testing, P&L attribution, and statistical performance testing

• Lead model governance - owning documentation, presenting to the Risk Committee, and responding to regulatory and internal audit requirements

Stress Testing & Scenario Analysis

• Design, build, and maintain a comprehensive stress testing suite in Python, covering historical scenarios, hypothetical macroeconomic scenarios, and reverse stress tests

• Continuously evolve stress test methodologies in response to changing market conditions, new products, and regulatory requirements

• Own the deployment and scheduling of stress testing pipelines in the cloud (AWS/GCP/Azure), ensuring scalability, reliability, and auditability

• Translate stress test outputs into clear, actionable narratives for senior leadership and the Risk Committee

Cloud-Based Risk Infrastructure

• Lead the migration and development of risk models and analytical pipelines onto cloud infrastructure, working closely with Risk Technology and Data Engineering

• Write clean, well-documented, version-controlled Python code to build and deploy risk models as scalable cloud services

• Drive automation of manual risk processes, improving speed, accuracy, and analytical coverage across the function

• Contribute to technical architecture decisions for IG's risk platform, bringing quantitative depth to conversations about data, tooling, and infrastructure

Real-Time Market Risk Management

• Monitor and manage IG's real-time market risk exposures across equities, FX, commodities, rates, and crypto - with deep focus on Greeks, sensitivities, and concentration risk

• Provide quantitative insight and real-time risk intelligence to Trading and senior leadership, acting as a genuine partner to the business

• Oversee hedging strategy analysis, evaluating effectiveness and recommending data-driven optimisations to reduce residual market risk

• Act as the firm's foremost expert on derivatives pricing and risk sensitivities across listed and OTC instruments

Product Partnership & New Business Risk

• Partner closely with Product, Trading, and Commercial teams on new product launches - assessing market risk implications, stress testing new instruments, and defining risk parameters before go-live

• Develop quantitative frameworks for evaluating the risk profile of new asset classes, products, and markets IG is considering entering

• Engage with business stakeholders proactively, translating complex quantitative risk analysis into commercially relevant insight that supports - rather than blocks - product and business development

Player-Manager Leadership

• Act as a hands-on player-manager: directly contributing to model builds and quantitative work while leading, coaching, and developing the team

• Act as deputy to the Head of Financial Risk, assuming full leadership of the function when required

• Set the standard within the team for technical excellence, commercial thinking, pace, and business partnership

• Mentor junior and mid-level quants, building team capability in both quantitative methods and Python engineering

Governance & Regulatory

• Maintain compliance of all risk models and processes with applicable global regulatory requirements (FCA, BaFin, NFA etc)

• Partner with Finance, Compliance, and Legal on regulatory reporting obligations and external engagements

• Contribute to the development of IG's risk appetite framework and escalation protocols

Key Deliverables & Outcomes

• Own and continuously improve a best-in-class risk modelling suite, fully documented and regularly validated

• Deliver a cloud-deployed, Python-built stress testing framework

• Lead the integration of machine learning techniques into at least one quantitative risk modelling domain within the first 12 months

• Deliver measurable improvements in the speed, automation, and analytical depth of market risk monitoring and reporting

• Act as a credible and effective deputy Head of Financial Risk, maintaining quality and continuity of output at all times

• Raise team capability through active player-manager coaching and knowledge sharing

• Support successful risk sign-off for new product launches, acting as a trusted quantitative partner to the business

Leadership Success Profile

Professional Experience

• Significant experience in quantitative risk, model risk, or front-office quant roles at a hedge fund, proprietary trading firm, or investment bank - with deep, hands-on expertise in market risk

• Proven track record of building critical risk models from the ground up, including full validation, back-testing, and governance ownership

• Strong, demonstrable Python development skills - writing production-quality, version-controlled code in a professional environment, not just scripts

• Experience building or deploying models in a cloud environment (AWS, GCP, or Azure)

• Applied experience using machine learning in a quantitative risk or financial modelling context

• Deep expertise in derivatives pricing and risk sensitivities across multiple asset classes (equities, FX, rates, commodities, crypto)

• Experience designing and building stress testing frameworks, including scenario design and methodology documentation

• Experience partnering with business or product teams on risk assessment for new instruments or market entries

• Demonstrated ability to operate in a player-manager capacity - directly contributing technically while leading others

• Degree in a quantitative discipline (Mathematics, Statistics, Physics, Financial Engineering, or similar); CFA, FRM, or PRM advantageous

Skills & Attributes

• Exceptional quantitative depth - able to build, own, and critically challenge complex risk models at the code level

• Strong Python engineering capability - comfortable with version control, testing frameworks, and working alongside data and engineering teams

• Machine learning fluency - familiar with relevant ML techniques and able to apply them pragmatically to risk problems

• Strong commercial instinct - able to translate highly technical outputs into business-relevant insight and recommendations

• A natural player-manager and role model: technically credible, commercially minded, leads by example on pace and partnership

• Confident communicator - able to present complex quantitative topics clearly to non-technical senior stakeholders and regulators

• Energised by a fast-paced, high-accountability environment where you are expected to deliver, not just advise

• Embodies IG's performance principles: Lead and Inspire, Think Big, Champion the Client, Deliver at Pace, and Raise the Bar

Why IG Group?

Build Something Real: Own the quantitative risk infrastructure from the model up - writing the code, deploying to cloud, and having the mandate to make it best-in-class.

Player-Manager Autonomy: A rare role that keeps you technically hands-on while giving you genuine leadership responsibility and a clear deputy mandate.

Target Background: We're actively seeking talent from hedge funds, prop trading, and investment banking quant teams - and we offer the pace and technical ambition to match that background.

Product Impact: Partner directly with Trading and Product on new launches - your quantitative judgement shapes what IG brings to market and how.

Career Trajectory: A clear path to Head of Financial Risk or CRO within a FTSE 100 fintech that is genuinely investing in its quantitative and technology capabilities.

Competitive Reward: Highly competitive base salary, performance bonus, LTIP participation, and a comprehensive benefits package commensurate with a top-tier quantitative hire.

Number of openings
1", "salary_raw": null}