About this role
Counterparty & Credit Risk Specialist | Based in Barcelona
Kantox is formalising its counterparty and credit risk function. As we scale our Liquidity Model client base, we need someone to build and operate the framework that governs client credit assessment, margin management, and exposure oversight, and to embed sound risk culture across our first line of defence.
This is a hands-on role combining framework development with daily risk operations in a regulated fintech environment. You will work closely with Sales, Operations, Finance, and group-level risk stakeholders, and report directly to the Chief Risk and Compliance Officer, with a broader mission to develop risk awareness and embed a sound risk culture across Kantox's first line of defence.
What you will work on Framework & Governance
Drafting and maintaining the internal procedure and policy governing collateral and risk management, including margin methodology, eligible collateral, and escalation thresholdsDesigning and maintaining the Counterparty & Credit Risk Policy, ensuring periodic review covering governance, risk appetite, limit structure, and escalation protocolsDefining a client tiering model based on creditworthiness and ensuring it is embedded in platform margin parametersTranslating entity-level risk appetite into per-client credit limitsMonitoring regulatory developments affecting counterparty and credit risk (EMIR, EBA guidelines) and assessing their impact on Kantox's framework, proposing updates to the CRO as requiredSupporting the development of risk awareness within Kantox's first line of defence, acting as a point of reference for Sales, Operations, and Finance on counterparty and credit risk mattersDaily Risk Monitoring
Monitoring counterparty exposure daily: MtM positions, margin balances, and credit limit utilisationOverseeing the margin call process to ensure calls reflect credit assessment and current market conditionsMaintaining a daily monitoring report on negative MtM versus margin deposit per client, and acting on exceptions promptlyImplementing the escalation process for failed margin calls, including thresholds for restricting open positionsManaging credit limit breach notifications and coordinating with Sales and Operations on remediationClient Credit Assessment
Conducting initial credit assessments for new clients onboarding under the Liquidity Model, including creditworthiness analysis and tier assignmentReviewing and updating credit assessments periodically and on an event-driven basisMaintaining documented credit files for each Liquidity Model clientReporting
Presenting counterparty risk exposure, limit utilisation, margin call status, and recommended mitigating actions to the Risk Committee on a quarterly basisMaintaining the counterparty risk section of the internal Risk and Control Self-Assessment (RCSA)Supporting the operational risk team on any incident declarations related to counterparty or collateral events The setup You will be based in our Barcelona office, embedded within the Risk Management function as part of the second line of defence. Kantox is a 200-person fintech and a BNP Paribas company, which means you will have the agility of a scaling business and the backing of one of Europe's largest financial groups. This is a full-time, permanent role reporting to the Chief Risk and Compliance Officer.
Who you are
You have hands-on experience in credit risk, counterparty risk, or collateral management within a bank, broker-dealer, or regulated FX or derivatives firm. You are comfortable building frameworks from the ground up, operating them day-to-day, and communicating their implications clearly to non-risk stakeholders.
Concretely:
Minimum 3 years of experience in credit risk, counterparty risk, or collateral management within a bank, broker-dealer, or regulated FX or derivatives firmDirect experience with FX forwards, collateral management, and margin frameworks including initial margin, variation margin, and MtM monitoringExperience building or operating credit limit frameworks and client tiering models in an FX or derivatives contextStrong quantitative skills: ability to analyse MtM portfolios, calculate margin requirements, and assess credit exposureAbility to draft clear, structured credit policy documentation in EnglishSound understanding of FX product mechanics (spot, forwards, swaps, options) and their credit risk implicationsAdvanced Excel; Python or SQL for data analysis is a plusPrior exposure to EMIR, CRR, or equivalent regulatory requirements is desirableExposure to operational risk management is a valued competencyUniversity degree in Finance, Economics, Mathematics, or a related quantitative disciplineCFA, FRM, or equivalent professional certification is desirableFluent in English; Spanish is desirable What we offer
Competitive base salary31 days of annual leavePrivate health insuranceFree language lessons (Spanish, English and French)Flexible working hours and short FridaysHybrid working modelSponsored learning and development budgetRelocation package if requiredBarcelona office with 360° views of the cityFresh fruit, unlimited coffee and Pizza Fridays About Kantox
We are a profitable, 200-person fintech and a BNP Paribas company, with offices in London and Barcelona. We have grown consistently since 2011, built on a product that handles real financial complexity for clients who depend on it every day. As we scale our Liquidity Model and deepen our regulatory footprint, risk management is becoming a critical function. This is a rare opportunity to build something that matters, from the ground up, inside a company that is growing.
Kantox is an equal opportunity employer. We hire on merit and welcome applicants regardless of background, nationality, gender, age, sexual orientation, or disability status.