How can you limit excessive risk-taking at the institutional level?
Optimal contracting under moral hazard is an incredibly rich field. Any answer to your question would rely more on the assumptions being made about risk preferences, effort sets, etc. than any "universal solution" to moral hazard.

That being said, there are a couple of interesting pieces of the literature to note:


Optimal contracts often have a fixed component (the opposite of your "alignment" premise),  with the variable component offered only insofar as it is required to induce more effort from the agent.
Optimal contracts use any information relevant to determining the effort expended by the agent, not just the result.


So I would think an answer would be to reduce (not increase) the amount of compensation variable upon the result and to condition compensation relative to other benchmarks that would indicate whether someone is just benefiting from tailwind.