Head of Risk

This role is for one of the Weekday's clients

Min Experience: 5+ years

Location: Malta
JobType: full-time

Risk Management

• Set up and manage the Risk Management Framework: Establish appropriate risk policies and procedures to minimize the Company’s risks.
• Recommend updates to the Risk Appetite Statement: Advise the Board of Directors on annual updates and appropriate risk tolerance limits, clearly outlining the level of risk acceptable in line with strategic goals.
• Maintain a risk register: Systematically record identified risks and mitigation actions. 
• Identify, analyze, quantify, and mitigate risks: Address risks faced by the Company with appropriate actions. The risk identification should encompass not only integrity risks (such as AML/CFT and fraud) but also ICT, operational, market, credit, legal, compliance, conflicts of interests, and other relevant risks in accordance with all intended crypto-asset services. The risk identification process should address risks at various levels, including individual business lines and the overall entity together with outsourced activities.
• Conduct ongoing risk assessments: Regularly evaluate risks to ensure they are managed effectively.
• Credit and Counterparty Risk Management:  Design, enforce and monitor credit risk policies and oversee exposures.
• Implement risk measurement methodologies: Recommend risk appetite thresholds and develop monitoring tools.
• Ensure compliance with regulatory requirements: Maintain activities within relevant risk-related regulations.
• Collaborate with senior management: Manage key risks, provide analysis, and highlight risk exposures and performance metrics. Also coordinate cross-functionally with business units to refine risk controls and support new product development.
• Lead regional incident response and crisis management efforts: Oversee responses to incidents and crises.
• Develop specific risk management actions: Create targeted strategies to reduce or control risk exposure.
• Monitor and report on risk management activities: Implement continuous monitoring systems and regular reporting to management.
• Evaluate the risk management framework annually: Assess its effectiveness, relevance, and adequacy in addressing emerging risks.
• Stay updated on industry trends and emerging risks: Adapt strategies to reflect changes in the environment.

General

• Support the preparation of reports for the Board of Directors, senior management, auditors, and regulatory authorities.
• Respond to information requests from regulators and auditors, and provide assistance during thematic reviews conducted by these parties.
• Participate in meetings as required.

The Head of Risk has to undergo the MFSA PQ process.

Required Skills

 The incumbent is expected to have, 

• familiarity with the operations of the crypto, investment, or banking sectors will be considered an advantage; 
• relevant qualification in financial services or compliance is required; 
• strong verbal and written communication skills, sound judgment, and analytical abilities;
• follow-up skills and the ability to communicate clearly and promptly are essential;
• team player skills with a genuine interest in digital assets and blockchain technology; and
• enthusiasm for continuous learning and a willingness to explore new frontiers in technology and compliance.

Credit Risk

Financial Risk, Market Risk, legal entity risk