The posting
Risk Manager - Algorithmic Trading
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 mis controlled 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.



