Senior Analyst - Market Risk and Control

Job Description – Senior Analyst

The CoinDCX Journey: Building the Future of Finance

At CoinDCX, our mission is to make crypto and blockchain accessible to every Indian by building safe, transparent, and resilient market infrastructure.

Operating one of India’s largest crypto exchanges means managing market risk in fast-moving, high-volatility environments. Our Market Risk & Control function sits at the center of this mission—ensuring exposures are understood, risks are surfaced early, and controls evolve with market complexity.

Role Summary

We are hiring a Senior Analyst – Market Risk & Control to support the day-to-day market risk function for our exchange operations in India.

This is a hands-on analytical role focused on running market risk analytics (VaR, stress tests, scenario losses), monitoring derivatives and liquidation risk, building dashboards and alerts, and driving timely, actionable escalations. The role is ideal for someone comfortable working with noisy data, shipping monitoring quickly, and partnering closely with Trading, Product, Engineering, and Operations teams.

What You’ll Do

1) Daily Risk Monitoring & Reporting

• Produce daily market risk snapshots covering:
• Spot and derivatives exposures
• Major market movers
• Risk exceptions and emerging hotspots
• Track effective leverage, distance-to-liquidation (DTL), margin utilization, and concentration risk
• Maintain an exceptions log and ensure timely escalations with clear, recommended actions

2) VaR, Stress Tests & Scenario Analytics

• Maintain 1-day and 10-day VaR and scenario loss estimates
• Validate model inputs, sampling windows, assumptions, and data integrity
• Build and maintain stress libraries, including:
• Volatility spikes
• Correlation shocks
• Liquidity dry-ups
• Funding and basis shocks
• Back-test and monitor model health:
• VaR exceedances
• Drift and regime shifts
• Data-quality issues

3) Derivatives & Liquidation Risk Support

• Monitor liquidation activity and tail-day behavior, including:
• Mark vs LTP divergences
• Index and mark-price integrity
• Liquidation waterfall outcomes
• Track funding rates and basis dynamics to identify systematic P&L drift or slippage
• Support periodic risk-parameter reviews with evidence and post-mortems

4) Liquidity & Slippage Risk Analytics

• Build and maintain liquidity views:
• Bid–ask spreads
• Order-book depth
• Slippage and impact proxies
• Exit capacity for key tokens
• Estimate stress liquidation costs and time-to-exit under different market regimes
• Flag thin-liquidity and concentration hotspots early

5) Dashboards, Automation & Data Tooling

• Own and improve dashboards in Excel / Google Sheets (and/or BI tools)
• Build automated refreshes, alerts (email/Slack), and runbooks
• Improve data quality by defining and monitoring checks:
• Missing data
• Stale prices
• Outliers and breaks

6) Controls, Documentation & Incident Reviews

• Maintain SOPs, definitions, thresholds, and control checklists for market risk monitoring
• Contribute to incident reviews by:
• Building timelines
• Developing root-cause hypotheses
• Quantifying impact
• Proposing preventive controls

You’ll Excel in This Role If You Have

Must-Have Skills & Experience

• 2–3+ years in market risk, trading risk, or derivatives ops + risk (Crypto experience preferred but not mandatory)
• Working knowledge of derivatives mechanics:
• Margining
• Liquidations
• Funding rates
• Basis risk
• Strong risk fundamentals:
• VaR (historical / parametric)
• Stress and scenario testing
• Drawdowns and regime behavior
• Comfort with trading microstructure concepts:
• Order books and spreads
• Mark vs LTP
• Thin-liquidity behavior
• Strong Excel / Google Sheets skills with clean modeling and dashboards
• SQL or Python preferred for data pulls, automation, and basic checks

You’ll Know You’re Winning When

• Daily risk monitoring consistently surfaces issues before they become incidents
• VaR, stress, and scenario analytics are trusted inputs into decision-making
• Derivatives and liquidation risks are clearly understood and proactively escalated
• Incidents are handled with fast RCAs and permanent fixes
• Any material risk event is followed by:
• A quick post-mortem
• Clear corrective actions
• Closure tracking
• Repeat incidents caused by monitoring or control gaps are driven down to near-zero

Why This Role Matters

This role sits at the intersection of markets, risk, and execution. Your work will directly influence:

• Risk-adjusted profitability
• Stability during volatile market conditions
• Trust in CoinDCX’s trading and risk infrastructure

Hiring Process

Here’s what your journey with us looks like:

• Application Review – We assess for skills, alignment, and intent
• Recruiter Connect – A short conversation to understand you better
• Functional Round(s) – Deep dive into your approach, craft, and problem-solving
• Assignment / Simulation Round - Depends on Role
• A take-home task or live problem-solving exercise to understand how you think and execute in real scenarios
• Culture & Values Discussion – A conversation to understand our ways of working and how you thrive best
• Founder Conversation (Optional) – For certain roles and senior levels, you may meet our founders to explore strategic alignment and long-term fit

Where We Work

We believe the best ideas emerge when people build together. Collaboration, speed and trust come alive when teams share the same space.

With this belief, we operate as a work-from-office organisation. This role is based out of our Bangalore/Mumbai office, where energy, alignment and innovation move in real time.

Perks That Empower You

We believe great people deserve great experiences.

• Design Your Own Benefits: Flexible perks to match your lifestyle
• Unlimited Wellness Leaves: Rest and recharge as you need
• Mental Wellness Support: Access to therapy and wellness resources
• Learning Sessions: Bi-weekly learning and growth opportunities

Ready to Build What’s Next?

If you’re looking for a role that gives you direct access to high-stakes decisions, deep impact and a chance to build the future of finance, this is it.

Join CoinDCX and help us make crypto accessible to every Indian, together.