Hybrid Head of Market Risk presso Monex Canada

Head of Market Risk | Toronto

Monex is a leading global financial solutions provider, offering a complete set of tools to support business growth and strategic financial operations.

Monex Canada is a rapidly expanding premier financial services firm specializing in foreign exchange and international payment solutions. We are dedicated to empowering Canadian businesses by offering competitive exchange rates, strategic risk management, and personalized service.

Our team is committed to excellence, leveraging deep market insights and innovative technology to help our clients navigate the complexities of the global FX market.

Job Overview

To lead the market risk function in overseeing and managing all aspects of market risk exposure within the FX brokerage business.

The role ensures that trading, hedging, and client-facing operations are conducted within approved risk frameworks, and that risks arising from FX volatility, liquidity mismatches, capital volatility and FX Hedging programs are effectively measured and controlled.

Key Responsibilities

• Monitor exposure to FX risk across all trading desks, client books, and liquidity providers.
• Develop and enforce limits for FX exposure, leverage, and position concentrations.
• Oversee real-time risk monitoring and intraday reporting, especially during high-volatility periods.
• Design and implement the market risk framework, policies, and methodologies tailored for MNI.
• Oversee the calculation and analysis of Value-at-Risk (VaR), stress testing, P&L attribution, and other key metrics.
• Execute limits to manage liquidity risk.
• Ensure full compliance with local and international regulations (e.g., MiFID II, ESMA, ASIC, FCA guidelines).
• Measure and apply limits for capital risk
• Develop risk adjusted return models
• Oversee implementation and maintenance of market risk systems (e.g., Fenics, Murex).
• Build and lead a high-performing risk team; mentor junior analysts and managers

Skills Required

• Bachelor’s or Master’s degree in Finance, Economics, Mathematics, or a related field.
• 10+ years of experience in market risk, preferably in FX  brokerage.
• Deep understanding of FX products (spot, forwards, options), and margin trading.
• Familiarity with trading platforms.
• First class modelling skills
• Experience with regulatory frameworks applicable to FX brokers
• Proficiency in Excel, Python, SQL, or other risk analytics tools is a strong plus.

Preferred Certifications

• FRM (Financial Risk Manager)
• CFA (Chartered Financial Analyst)
• Relevant regulatory certifications (e.g., CySEC Advanced, FCA SMF function experience)