وصف الوظيفة
Role Overview
Senior Derivatives Risk Control Specialist at Bybit, a leading global cryptocurrency exchange and digital financial platform.
Company Overview
Established in 2018, Bybit serves over 80 million users across more than 200 countries and regions. The platform delivers a seamless ecosystem across trading, payments, wealth management, custody, institutional services, and Web3. Bybit is recognized as one of the most trusted and transparent platforms in the digital asset industry, supported by 24/7 multilingual customer service and a strong commitment to innovation.
Role Purpose
Build and maintain the underlying risk framework for the exchange's derivatives product line, covering pricing logic, risk parameter design, and monitoring mechanisms for perpetual contracts, futures contracts, options, and other products to ensure risk controllability and system stability under extreme market conditions.
Key Responsibilities
Derivatives Financial Logic Design
- Design perpetual contract funding rate mechanisms, including billing frequency, upper and lower bounds, and premium index calculation logic.
- Participate in futures contract settlement price methodology design, including TWAP and index source weighting and anti-manipulation mechanisms.
- Design options product pricing models using Black-Scholes and volatility surface fitting methodologies and assess systemic risk upon introduction.
Risk Parameter Design & Iteration
- Develop maximum leverage and position limit strategies per instrument, dynamically adjusted based on market depth.
- Design ADL (Auto-Deleveraging) trigger mechanisms and ranking rules, optimizing user experience and risk isolation effectiveness.
Risk Monitoring & Alerts
- Design insurance fund utilization rules and replenishment mechanisms.
- Develop circuit breaker contingency plans and emergency response procedures for extreme market events including flash crashes and liquidity crises.
- Monitor abnormal Mark Price deviations from spot index to prevent unreasonable liquidations.
Cross-Department Collaboration
- Collaborate with product teams to define risk control admission criteria for new derivative listings, including token liquidity, market cap, and volatility thresholds.
- Participate in Market Surveillance to investigate suspected manipulation of liquidations, wash trading, pump-and-dump schemes, and other market violations.
Qualifications & Experience
- Bachelor's degree or above in Finance, Mathematics, Statistics, Computer Science, or related fields.
- 3+ years of derivatives-related experience, including traditional finance derivatives market making, risk management, or crypto exchange risk management.
- Deep understanding of perpetual contract mechanics including funding rate, Mark Price, and liquidation logic, and differences from traditional futures.
- Proficient in Python, capable of independently conducting data analysis, parameter backtesting, and model validation.
- Solid foundation in probability theory and statistics, with understanding of VaR, Expected Shortfall, and other risk measurement methodologies.
Skills & Competencies
- Proficiency in Python for data analysis and modeling.
- Knowledge of options pricing theory and volatility smile and surface modeling (preferred).
- SQL and Spark proficiency for independent querying of on-chain or exchange internal data (preferred).
- Understanding of financial risk measurement methodologies.
Additional Information
- Study Growth Fund: Support for professional development and continuous learning.
- Internal Events: Regular team-building activities, workshops, and events designed to promote collaboration and innovation.
- Global Collaboration: Part of a diverse, international team working alongside colleagues worldwide.
- Career Advancement: Access to growth and advancement opportunities within a rapidly expanding global company.
- Internal Mobility: Internal job opportunities to help build your career path.