[Remote] Quantitative Risk Modeling Manager

Note: The job is a remote job and is open to candidates in USA. Coinbase is a company on a mission to increase economic freedom in the world, seeking a passionate candidate to join their team. The role involves leading the design of Coinbase’s next-generation Global Liquidation Engine, managing risk, and building algorithms for liquidating distressed portfolios.


Responsibilities

  • Design Optimal Liquidation Logic: Develop stochastic control models (adapting Almgren-Chriss frameworks) to determine the optimal trajectory for unwinding distressed portfolios. You must solve for the trade-off between market risk (holding the position too long) and market impact (selling too fast and crashing the price)
  • Global Optimization: Move beyond single-client liquidation. Build logic that optimizes risk at the aggregated level —managing multiple concurrent liquidations to minimize total market impact and maximize liquidity usage across various venues
  • Build 'Crisis-Ready' Algos: Adapt standard execution benchmarks (VWAP, POV, Implementation Shortfall) for stressed regimes where liquidity evaporates and spreads widen
  • Portfolio-Level Unwinds: Develop logic to liquidate based on risk sensitivities ( Greeks ) rather than just line items (e.g., •"Don't just sell the spot asset; buy the put options to flatten the Delta first"•)
  • Design and tune the decision logic for the liquidation lifecycle: Open Market Liquidation (smart order routing and order book interaction). Internalization / Hedging (Delta-neutralizing the portfolio internally). Private Auctions (soliciting bids from liquidity providers)
  • Liquidity Intelligence: Collaborate with Exchange Liquidity Managers to estimate order market impact and monitor L1-L3 order book dynamics
  • Regulatory Defense: Ensure all liquidation logic meets the "Commercially Reasonable" standard. Produce quantitative evidence and backtesting results to justify execution decisions to regulators and institutional clients

Skills

  • Ph.D. or Master's degree in a highly quantitative field (Physics, Mathematics, Statistics, Financial Engineering, or Computer Science)
  • 6+ years of relevant experience with a Ph.D from a top program
  • 8+ years of relevant experience with a Master's degree
  • Experience in one of the following hybrid areas: Central Risk Book (CRB) execution trading quant at a Tier 1 Investment Bank, Default Management risk quant at a major Clearing House (CCP) or Prime Broker, Electronic Market Making with a specific focus on inventory management, liquidation, or risk constraints
  • Deep understanding of Almgren-Chriss frameworks, Order Book Dynamics (L1-L3 data), and Auction Theory
  • Experience with Cross-Margining methodologies and models (e.g., offsetting Crypto futures against Spot, or Equity Options against Index futures)
  • Production-level proficiency in Python
  • Experience deploying quantitative models into production environments and integrating with execution APIs
  • Proven ability to lead cross-functional projects (Product, Eng, Data Science) and communicate complex technical findings to non-technical stakeholders
  • Hands-on experience modeling both Delta-One (Spot/Futures) and Non-Linear (Options/Vol) products
  • Familiarity with modern data pipelines (e.g., Airflow) and real-time data streaming architectures (e.g., Kafka)
  • Understanding of specific nuances in crypto market structure (24/7 trading, fragmented liquidity, on-chain vs. off-chain settlement)

Benefits

  • Medical
  • Dental
  • Vision
  • 401(k)

Company Overview

  • Coinbase is a crypto exchange and wallet platform that allows merchants and consumers to buy, sell, and store digital currencies. It was founded in 2012, and is headquartered in San Francisco, California, USA, with a workforce of 1001-5000 employees. Its website is https://www.coinbase.com.

    • Company H1B Sponsorship

  • Coinbase has a track record of offering H1B sponsorships, with 181 in 2025, 92 in 2024, 96 in 2023, 284 in 2022, 183 in 2021, 66 in 2020. Please note that this does not guarantee sponsorship for this specific role.

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