At a Glance
- Tasks: Assess and manage risks in algorithmic trading to prevent financial losses.
- Company: Join a global alternative investment firm focused on innovation and collaboration.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Other info: Dynamic team with opportunities for growth and collaboration across global offices.
- Why this job: Make a real impact by ensuring robust risk management in cutting-edge trading systems.
- Qualifications: 6+ years of markets experience and strong analytical skills required.
The predicted salary is between 75600 - 92400 £ per year.
About Millennium
Millennium is a global, diversified alternative investment firm, founded in 1989. Defined by evolution, innovation and focus, Millennium’s mission is to deliver results for our investors. Our people are empowered with both independence and support: the autonomy to pursue ideas with conviction and the backing of a global network committed to collaboration, disciplined risk management and continuous learning. With opportunities to deepen expertise and accelerate development, talent at Millennium is equipped to adapt, evolve and build lasting impact over time. Discover how transformative growth accelerates impact.
Meet the Team
Millennium’s Global Risk Management Department identifies, measures, monitors, manages and reports on risks across the firm’s portfolios. The Execution Risk team works to prevent financial loss from malfunctioning or miscontrolled trading systems and protect the firm from regulatory failures. The team owns the pre- and post-trade controls framework across Millennium’s trading activity, with authority to approve, reject and require remediation, and works alongside Trading teams, Compliance and Technology.
What You'll Do
- Assess proposed new and materially modified algorithm documents and their pre- and post-trade controls, with authority to approve, reject or require remediation before deployment or re-release.
- Verify that controls are implemented as documented and are appropriate for each strategy, product and venue. Review code, configuration and test evidence using AI-assisted code analysis tools and technical support from the wider team.
- Challenge portfolio managers, quants and developers on algorithm design and intent, testing evidence, parameter calibration and change management.
- Escalate unresolved control gaps to governance forums and communicate and defend rejection decisions to the business.
- Own the algorithm inventory, approval templates and periodic reassessment cycle, including the annual UK MiFID RTS 6 self-assessment, in line with FCA supervisory expectations.
- Advance standardization of the governance framework across Risk, Business, Technology, Compliance, Execution Services and Management, working with teams in APAC and the United States.
What You Bring
- 6+ years of relevant markets experience.
- Deep product and market microstructure knowledge of listed derivatives, including futures and options, and deep knowledge of either cash equities or FX and rates.
- Demonstrated judgment in assessing whether control designs are appropriate for a strategy and product, including the ability to withhold approval under pressure. Prior sign-off accountability through supervision, approval authority or incident ownership is strongly preferred.
- Technical fluency to interrogate code and configuration directly or with AI-assisted tools, and to critically evaluate developer and vendor claims. Production development experience is not required.
- Strong analytical and communication skills, with the ability to present concise conclusions to Senior Management and governance committees, build consensus and maintain clear positions with senior stakeholders, including portfolio managers.
- Knowledge of the software development lifecycle, change management and electronic trading application architecture, with working familiarity with Python, SQL and KDB/q environments.
Risk Manager - Algorithmic Trading employer: Millennium Management
Millennium is an exceptional employer that fosters a culture of innovation and collaboration, empowering employees to take ownership of their ideas while providing robust support through a global network. With a strong focus on professional development and continuous learning, the company offers unique opportunities for growth within the dynamic field of international operations, making it an ideal place for those seeking meaningful and impactful careers in the financial markets.
StudySmarter Expert Advice🤫
We think this is how you could land Risk Manager - Algorithmic Trading
✨Tip Number 1: Tap Into Professional Networks
The finance world loves a good connection, so jump into industry-specific groups on platforms like LinkedIn where you can find discussions on financial controlling. Engaging in these communities can expose you to hidden job leads that aren't openly advertised!
✨Tip Number 2: Attend Finance Events and Conferences
Make it a mission to attend finance-related events and conferences, even virtual ones! This is a golden opportunity to network face-to-face with people from companies like Millennium Management. You never know who might be your next boss or a crucial contact!
✨Tip Number 3: Showcase Your Expertise
Consider writing articles or sharing insights related to financial controlling or industry trends. Publish these on platforms like LinkedIn to establish yourself as a knowledgeable player in the field. This not only increases your visibility but also catches the attention of recruiters from Millennium Management.
✨Tip Number 4: Apply Directly on Company Websites
Since you're going for a full-time gig, don't forget to keep an eye on the careers page of companies you're interested in, like Millennium Management. Many companies prefer candidates who apply through their website as it shows genuine interest and makes your application stand out!
We think you need these skills to ace Risk Manager - Algorithmic Trading
Some tips for your application 🫡
Show Off Your Numbers Game:In financial controlling, detail is everything! Make sure your CV showcases your proficiency with numbers—highlight any relevant experience in budgeting, forecasting, or working with financial software. Quantifying your past achievements will make you stand out, so don’t be shy about flaunting those impressive percentages or cost savings you've implemented.
Tailored Cover Letter is Key:Your cover letter is a chance to shine, especially for a full-time role. Use it to express your genuine interest in Millennium Management and the specific impact you hope to make in financial controlling. Mention any relevant qualifications or experiences that align with the company’s goals, and don’t forget to show that you're ready for a long-term commitment!
Certifications Matter:List relevant certifications such as ACCA or CIMA on your CV. These qualifications not only showcase your dedication to the field but also your technical competence in financial principles. If you have any ongoing training or courses, make sure to mention those as well to demonstrate your commitment to continual learning in financial controlling.
Don’t Overlook Soft Skills:While numbers are crucial, so are those soft skills! Financial controllers need strong communication and analytical reasoning abilities. We recommend embedding examples of these skills in your CV and cover letter, like how you’ve successfully delivered financial reports to stakeholders or collaborated with teams to improve processes. Let’s show Millennium Management how you can be a team player!
How to prepare for a job interview at Millennium Management
✨Brush Up on Technical Skills
Make sure you're comfortable with key financial concepts, especially around forecasting, budgeting, and variance analysis. Sometimes, interviewers may throw in technical questions or case studies, so practicing these types of scenarios will help you shine!
✨Showcase Your Financial Acumen
If you've had experience with specific financial software like SAP or Oracle, make it known! Be ready to discuss how you used these tools to improve processes or reporting, as this hands-on knowledge can really set you apart in a full-time role with Millennium Management.
✨Know Your Numbers
In full-time interviews, especially in financial controlling, be prepared for numerical reasoning tests or questions. Brush up on your mental maths and understand how to interpret and analyse financial statements on the spot, as this may come up during the assessment.
✨Connect with Company Goals
Familiarise yourself with Millennium Management's financial objectives and any recent developments. During the interview, try to weave your understanding of their business model and challenges into your answers—this shows your genuine interest and alignment with their goals!
