Chief Risk Officer

Our client, a well-established fintech with a focus on investments in both traditional and digital assets, is looking to expand their business in Asia. The company is looking for a Chief Risk Officer to join them. This role is pivotal in ensuring the integrity of the company’s operations and establishing an enterprise risk framework and standards.

Position Summary

The Chief Risk Officer (CRO) is responsible for the effective independent oversight of the company’s risk, under the direction of the Board. The CRO’s primary responsibility is to develop and implement a risk management framework with appropriate tools for the measurement, reporting, and control of both financial and non-financial risks.

The CRO will report to the CEO while having access to the Board directly.

Job Responsibilities

• Provide overall leadership, vision, and direction for risk management.
• Establish an integrated risk management framework for all aspects of risks across the firm.
• Develop risk management policies, including the quantification of the company’s risk appetite through specific risk limits.
• Implement a set of risk metrics and reports, including losses and incidents, key risk exposures, and early warning indicators.
• Allocate capital to exposures based on risk, and optimize the company’s risk portfolio through business activities and risk transfer strategies.
• Improve the firm’s risk management readiness through communication and training programs, performance measurement and incentives, and other change management programs.
• Develop the analytical, systems, and data management capabilities to support the risk management program.

Key Responsibilities include, but are not limited to the following list:

• The CRO will be responsible for the overall risk management framework and practices. This includes assessing the creditworthiness of participants at the company and setting appropriate trading and credit limits for their transactions, as well as any settlement risk arising from the company acting as a central counterparty on a post-trade basis, and how this risk can be mitigated such that the residual risk is within the risk appetite and capacity of the business.
• To maintain independence of the risk management function, the role of the CRO shall not have any business or revenue generation responsibilities.
• The CRO shall also have a direct reporting responsibility to the Board in reporting the risk agenda and advising and responding to the Board on all risk matters.
• Interaction between the CRO and the Board should occur regularly and be documented adequately.
• The CRO shall be a member of all important Senior Management committees including the Executive Committee (EXCO), Risk Committee (which he chairs), New Product Committee, and any other management level committees that may be formed from time to time and that have relevance from the perspective of risk management.
• The CRO will develop the overall risk framework and policy, and ensure a holistic and integrated risk management between the various functions (HR, Operations, Technology, Finance, Compliance, Product, Commercial) to monitor and ensure proper deployment of risk controls within the functions to address the various risks (market, credit, operational, legal and compliance, reputational).
• Implement proper working of operational risk controls including risk review and upgrade, risk identification, loss event management, risk library development, product line mapping, Control Risk Self-Assessment (CRSA), the development and monitoring of KRIs (Key Risk Indicators), regulatory and economic risk capital computation, and mitigation strategies.
• Monitor and ensure proper oversight of market risk including market risk assessment and measurement tools and models for market and liquidity risks, risk monitoring and reporting dashboards, systems, capital computation, and mitigation strategies.
• Monitor and ensure proper development, execution, and monitoring of the Internal Capital Adequacy Assessment Process (ICAAP), and its deliberation in the Risk Management Committee and BoD.
• Receive reports and ensure the development, integration, and maintenance of all IT systems and applications related to risk management, in conjunction with Head of IT Security and CTO.
• Monitor the integrity of risk measurement techniques and MIS that are used to monitor the Exchange’s risk profile relative to its risk appetite.
• Act in a timely manner to ensure effective management, and where necessary mitigation.

Qualifications And Experience

• For effective execution of the functions of a CRO, the candidate must ideally have strong functional experience, exposure to regulatory interactions, strong technology orientation, and a keen eye for detail. He/ she must be a team player with vision who can share and shape the destiny of the Exchange’s vision. Must be able to develop and articulate insights and mentor the team in alignment with the Exchange’s Vision.
• Bachelor’s Degree in Finance, Business or related field.
• (Financial) Risk Management experience in market risk, credit risk, liquidity risk, counterparty risk.
• Possess at least 15 years of working experience in the financial service industry, including 2 or more years of experience working in a crypto exchange, blockchain service provider or in a fintech startup environment will be an added benefit.
• Good understanding of VaR modelling, risk factors/indicators, and stress tests.
• Strong understanding of MAS (or G7 countries) regulatory compliance requirements. Knowledge in global regulatory environment/practices is preferred.
• Good understanding of traditional financial products (FX, Equities, Bonds, Derivatives, Commodities) and Digital Assets (Cryptos, Stablecoins, Loans, NFTs).
• Comes with Central Counterparties (CCP) experience.

Skills, Knowledge and Ability

• Risk Control mindset: Should show mastery of risk disciplines at an exchange-wide and integrated level, risk processes, tools and techniques, capital management, risk-related regulations, and compliance.
• Technical Knowledge: Should have a strong understanding of statistics and quantitative data analysis methods. Should have an understanding of different risk management-related IT/software applications.
• Keen business acumen – Business and financial judgment, and problem-solving skills are crucial requirements.
• Strong process orientation – A strong understanding of banking processes and operations.
• Intellectual curiosity and analytical approach to work.
• Ability to influence a culture of risk awareness in the organization.
• Independent thought leadership to strategic decisions and debate.
• Ability to lead and exercise authority through expertise and experience, showing both strategic and operational understanding of the business model.
• Strong big-picture and strategic orientation yet detail-focused.
• Strong sense of collaboration and ability to develop positive relationships with key business stakeholders and demonstrate respectful, constructive negotiating skills.
• Leadership ability to inspire and motivate others to perform well through continuous feedback.
• Excellent written and oral communication skills, with proven ability to present and explain complex information and suggest process improvements to a diverse audience including Senior Management and the Board.

Please email your CV directly in word format with job reference no. 14595 to sophia@theedgepartnership.com

Please note that due to the high number of applications only shortlisted candidates will be contacted. If you do not hear from us in the next 5 business days we regret to inform you that your application for this position was unsuccessful.

EA Licence: 16S8131

Recruiter Licence: R22104669