Head of Risk Management

On behalf of our client, a licensed Financial Services Company and an Electronic Money Institution, we are looking for a Head of Risk Management to be based at their offices in Nicosia, Cyprus.

Main Duties and Responsibilities

• Leads and oversees the Company’s risk management framework, ensuring that risks are effectively identified, assessed, monitored, and reported in line with regulatory requirements and the Company’s risk appetite.
• Develops, maintains, and periodically reviews the Company’s risk management policies, procedures, and risk appetite framework.
• Oversees the Company’s prudential risk management processes, including capital adequacy monitoring and related regulatory disclosures.
• Prepares and presents regular risk management reports to senior management and the Board of Directors, providing insights on the Company’s risk profile and key risk developments.
• Supports the effective functioning of the Company’s risk governance structure, including participation in relevant committees and contributing to risk-related decision-making.
• Oversees the management and monitoring of credit, counterparty, market, and operational risks, ensuring that exposures remain within approved limits and policies.
• Ensures appropriate risk assessment processes are in place for clients, counterparties, and business activities.
• Maintains and monitors the Company’s risk register, ensuring that emerging and existing risks are appropriately documented and mitigated.
• Establishes and monitors Key Risk Indicators (KRIs) and ensures that risk monitoring tools and reporting mechanisms remain effective. Oversee third-party and outsourcing risk management, ensuring that external arrangements comply with applicable regulatory requirements and internal policies.
• Collaborates with other control functions, including IT security and compliance, to ensure appropriate management of ICT, operational, and fraud-related risks.
• Oversees the implementation and testing of the Company’s business continuity and disaster recovery arrangements to ensure operational resilience.
• Act as the Company’s Outsourcing Officer, overseeing outsourcing arrangements and ensuring compliance with relevant regulatory frameworks, including the EBA Outsourcing Guidelines.
• Promotes a strong risk culture across the organisation by providing guidance and support to business units on risk-related matters.

Job Requirements

• University degree in Finance, Economics, Risk Management, Mathematics, or a related field
• 5+ years of similar experience in risk management within a within an Investment Firm, Electronic Money Institution or Payment Institution
• Experience in credit risk, counterparty risk, and operational risk management
• Familiarity with prudential requirements, ICARA processes, Pillar III disclosures and capital adequacy frameworks
• Excellent analytical, organisational, and communication skills
• Ability to work independently while interacting effectively with senior management and committees

Benefits

• Professional development and training allowance
• Employer’s contribution to a provident fund
• Private medical insurance for the whole family
• Paid parking
• Frequent corporate events and activities
• Free snacks and beverages

All CVs will be handled with the utmost confidentiality.