Head of Risk Management

Weekday AI•Malta, NY

2d•Onsite

About The Position

This role is for one of the Weekday's clients. The Head of Risk Management will be responsible for setting up and managing the Risk Management Framework, including establishing appropriate risk policies and procedures to minimize the Company’s risks. This includes advising the Board of Directors on annual updates to the Risk Appetite Statement, maintaining a risk register, and identifying, analyzing, quantifying, and mitigating a wide range of risks such as integrity, ICT, operational, market, credit, legal, compliance, and conflicts of interests. The role involves conducting ongoing risk assessments, managing credit and counterparty risk, implementing risk measurement methodologies, and ensuring compliance with regulatory requirements. The Head of Risk will collaborate with senior management, lead regional incident response and crisis management efforts, develop specific risk management actions, and monitor and report on risk management activities. A key responsibility is to evaluate the risk management framework annually and stay updated on industry trends and emerging risks. Additionally, the role supports the preparation of reports for various stakeholders, responds to information requests from regulators and auditors, and participates in meetings as required. The Head of Risk must undergo the MFSA PQ process.

Requirements

Min Experience: 5+ years
Risk Management
Relevant qualification in financial services or compliance is required
Strong verbal and written communication skills
Sound judgment
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
Enthusiasm for continuous learning and a willingness to explore new frontiers in technology and compliance
Credit Risk

Nice To Haves

Familiarity with the operations of the crypto, investment, or banking sectors will be considered an advantage
Financial Risk
Market Risk
Legal entity risk

Responsibilities

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.
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.
Undergo the MFSA PQ process.