About the role
- Full time position.
- Location – Remote (travel required)
- Reporting into the Head of Trading Services, you are responsible for the strategic planning relating to risk management and the provision of an optimal risk management strategy benefitting our partners.
Possessing strong management experience, you will assist the onboarding and subsequent leadership of a complete risk management function and ensure this function manages and grows the Sportsbook profitability of our partners. You and your team will play a vital role in overseeing P&L and the control of individual players profitability betting on the brands of multiple Sportsbook partners.
A key strategic role, you will already be fluent in the numerous variables that dictates the profitability of Sportsbook players and will look to drive the very best practices towards automation processes and innovation in managing Sportsbook risk going forward.
This role requires a calm and thoughtful leader and one whose communication skills is appropriate for communicating the usual trends associated with the volatility of Sportsbook profitability both internally and to external partners.
This is an opportunity for the successful individual to create a new team, embed best practices and develop a high performing culture for a critical Sportsbook function.
- Define the needs of a recruitment process and subsequently actively participate in the hiring process of all resource connected to risk management, assess candidates and finalise appointments
- Coach, mentor and the supervise a team of Risk Managers establishing a culture of high performance and one where high performance is rewarded and poor performance managed accordingly
- Provides team with resources, tools, and processes to do their respective jobs.
- Work with the VP of Sports and Head of Trading Services to develop a strategy for the development of an industry leading B2B Sportsbook risk management function creating a vision and KPIs for acceptable Sportsbook margins
- Instigate and manage a real-time bet acceptance process for partners educating your team on best practices
- Oversee implementation and use of real-time bet monitors team including concept of bet noting to develop and portray the betting ‘story’ of an individual sports player
- Provide analysis and reporting on each team members decision making when it comes to real-time bet acceptance and player stake factoring ensuring decisions are the right ones and assessed by data
- Be comfortable with subjects including (but not exclusive to) expected margin analysis & binomial distributions together with an understanding of how to use this to develop better margin control
- Implement and agree with partners a risk matrix including comfortable limits for multiple sports and betting environments including real-time risk visibility, controls and hedging options if required
- Conduct and execute transactions associated with hedging where required
- Develop, create and maintain a reporting suite both from existing back-end functionality and with assistance from BI teams containing reports associated with overall and individual player Sportsbook profitability
- Responsible for implementation and distribution of statistical data analysis, evaluation and reporting requirements relating to trading P&L performance as agreed with partners
- Undertake competitor benchmarking to assess partner P&L/margin performance in individual regions and be able to explain the variance based on trading mix and subsequent impact on margin achieved within separate jurisdictions
- Cooperate closely with peers in Trading Development & Product & Technology, building, managing, maintaining and prioritising a trading roadmap/backlog consistent with Pragmatic Play’s wider risk management strategy
- Raise feature requests capable of being prioritised on product backlogs for all features related to functionality associated with risk management and margin control. This will include collaboration with Business Analysts on story writing.
We expect you to have the following skills and background:
- Your financial acumen will have included a high degree of exposure to numbers and you are used to working with risk management tools and looking at numbers.
- Excellent communication and presentation skills with an ability to convey complex risk management concepts, practices and processes to senior but less technical audiences and external partners.
- Analytically minded and good eye for detail – you never lose sight of details that impacts trading margin day-to-day and you possess an analytical approach to decision making
- Ability to thrive under pressure and can deal with volatile situations calmly and without stress to make quick and accurate decisions
- Ability of negotiation and to influence. You must be skilled in dealing with people and influencing people towards a given goal.
- Strategic minded and forward-looking. You must be able to keep pace with the quick and volatile nature of Sportsbook risk management and deliver solutions that align with business objectives as well as obeying risk safeguards.
- Extensive Sportsbook industry experience with an ability to understand all Sportsbook related trading profitability issues and have a good notion on how to rank, core and group any potential risks for our partners
- Flexible approach to working hours. The role will require the management of teams working 24/7 and where peak periods typically happen in evenings and on weekends.
- Available to travel as the role will require potential visits to a fixed base location housing the internal trading and risk management functions whilst occasional travel to visit partners and/or typical industry events is essential.