Head of Risk

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We are Pfida, a truly unique, ethics based, start-up fin-tech company. We don’t provide a mortgage; we specialise in providing true partnership-based finance to purchase homes without dealing with interest or putting our clients into debt. Our goal is to take our services out to the mass market. Winning “Technology Innovator” and “World Islamic Fintech” Awards, we are fast becoming a disruptive player in the home-financing sector. Although the foundations of our business are rooted in Shariah-compliant finance, our ambition is to provide products in an ethical manner whilst eradicating debt for everyone.

Having witnessed huge growth over the last eighteen months, we are now at a point where we are scaling up our team to match the demand for our services. 2025/6 will be the years that define us.

We are dedicated to providing ethical and accessible financing options to our customers, while upholding the highest standards of regulatory compliance and risk management. We are embarking on an exciting phase of growth and are seeking a dynamic and experienced Head of Risk to lead our risk management and compliance functions.

The Role

The successful candidate will be responsible for establishing and overseeing a comprehensive risk management framework, ensuring the company operates within its risk appetite and complies with all applicable regulatory requirements. This role encompasses Risk Management, Compliance (including acting as MLRO), and IT Security. The Head of Risk will report to the CFO and will play a crucial role in supporting the company's strategic growth initiatives.

Key Responsibilities

1. Establish and chair the Risk Committee, ensuring effective oversight of risk management activities.
2. Develop, implement, and maintain a robust risk management framework including risk identification, risk appetite, mitigation strategies, and monitoring, aligned with Shariah principles, legal and regulatory requirements and relevant industry standards.
3. Create and maintain a full cross corporate risk register condensing functional risks into a high level framework that is visible to executives and presented for discussion in relevant forums.
4. Establish and monitor key risk indicators (KRIs) and risk appetite metrics.
5. Conduct regular risk assessments and provide timely reports to the Executive Committee.
6. Foster a risk-aware culture where risk management is embedded across all levels of the organisation.
7. Implement risk management technologies and tools to streamline risk identification, tracking and reporting.
8. Develop and implement business continuity and disaster recovery plans ensuring contingency plans are in place for critical operations and that disaster recovery strategies are regularly updated and tested.
9. Establish and maintain a robust operational risk incident reporting and management system.
10. Review, enhance, and implement comprehensive credit policies and procedures, working with the internal and external Shariah advisors to ensure Shariah compliance.
11. Oversee credit, underwriting and portfolio management, monitoring credit risk exposures and identifying potential risks.
12. Develop and implement effective credit risk mitigation strategies.
13. Promote a strong risk management culture by designing and delivering training to internal stakeholders.

Compliance & MLRO

1. Ensure compliance with all relevant regulatory requirements, including FCA regulations (where applicable) and Shariah governance standards.
2. Act as the Money Laundering Reporting Officer (MLRO), ensuring compliance with AML/CFT regulations.
3. Ensure that adequate risk and compliance presence and/or sign off is available for all projects and change activity.
4. Develop and deliver compliance training programs for staff.
5. Maintain strong relationships with regulators, external auditors, and other relevant stakeholders.

IT Security

1. Work with our outsourced IT security agency to develop and implement a comprehensive IT security strategy to protect sensitive data and systems.
2. Oversee IT risk assessments and security audits.
3. Ensure compliance with data protection regulations.

The description of the work and responsibilities set out in this section is not intended to be exhaustive. You may be allocated other work and responsibilities from time to time as required to suit or meet the evolving and expanding needs of Pfida and its business.

Skills & Qualifications

1. Proven experience as a Head of Risk or senior risk management professional within a financial services environment, ideally within a mortgage or financial services institution, with direct experience engaging with the FCA.
2. Extensive knowledge of FCA regulations and AML/CFT requirements.
3. Demonstrated experience in credit and operational risk management, compliance, and IT security.
4. Experience in setting up and chairing risk committees.
5. Strong analytical and problem-solving skills.
6. Excellent communication and interpersonal skills.
7. Self-starter with strong ability to work effectively in a fast-paced and dynamic environment.

Preferred Qualifications

1. Startup experience strongly preferred.
2. Experience with regulatory license applications is desirable.
3. Strong knowledge of risk management software and tools including AI and cybersecurity in risk management is desirable.
4. Understanding of Shariah principles and their application to financial products is preferred but not essential.

Personal Attributes

1. High level of integrity and ethical standards.
2. Effective leadership and influencing skills, ability to communicate ideas effectively and persuasively and to influence leadership.
3. Strong communicator at all levels, able to present coherent business cases and engender appropriate debate.
4. Strong analytical skills with the ability to assess risks, understand complex data, and evaluate the potential impact of various risk factors on the organisation.
5. Strong strategic vision with the ability to take a broad, long-term view of the company's business model, goals, and potential threats, aligning risk management with the company’s overall strategy.
6. A deep understanding of the industry in which the company operates, along with regulatory requirements and market trends.
7. Confident in making decisions under pressure to handle different risk scenarios.
8. A proactive mindset to identify emerging risks and create practical solutions to mitigate them before they impact the organisation.
9. Strong ability to be flexible and adapt quickly to new risks or market shifts.
10. Team player, whether helping to galvanise the senior leadership team, building teams within the function under control, or understanding the optimisation of interaction with the executive team.
11. Proactive and results-oriented.
12. Ability to work independently and as part of a team.
13. Passion for ethical finance and Shariah-compliant products.

Reporting

Reporting to the CFO and Executive Committee

• Head of Underwriting

Work Arrangements

1. Minimum 3 days in office, up to 2 days from home.
2. May need to vary occasionally, based on business requirements.
3. May require periods of working offsite depending on business requirements and individual project needs.

Package

1. Competitive salary plus bonus.
2. Employee share scheme (once finalised).
3. Pension.
4. Flexible hybrid working.
5. Quarterly company Townhall & activity days.
6. Electric car scheme.
7. Bike to work scheme.

Seniority level

Executive

Employment type

Full-time

Job function

Finance and Sales