Head of Risk

Weekday AI•Malta, NY

20h•Onsite

About The Position

This role is for one of Weekday's clients. The Head of Risk 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 updates to the Risk Appetite Statement, maintaining a risk register, and identifying, analyzing, quantifying, and mitigating a wide range of risks such as integrity risks (AML/CFT, fraud), ICT, operational, market, credit, legal, compliance, and conflicts of interests. The role involves conducting ongoing risk assessments, designing and monitoring credit risk policies, 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. The effectiveness of the risk management framework will be evaluated annually, and strategies will be adapted to reflect industry trends and emerging risks. The role also includes supporting report preparation for the Board of Directors, senior management, auditors, and regulatory authorities, responding to information requests, and participating in meetings. 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
Ability to communicate clearly and promptly
Team player skills
Genuine interest in digital assets and blockchain technology
Enthusiasm for continuous learning
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

Establish appropriate risk policies and procedures to minimize the Company’s risks.
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.
Systematically record identified risks and mitigation actions.
Address risks faced by the Company with appropriate actions, encompassing integrity risks (such as AML/CFT and fraud), ICT, operational, market, credit, legal, compliance, conflicts of interests, and other relevant risks in accordance with all intended crypto-asset services.
Address risks at various levels, including individual business lines and the overall entity together with outsourced activities.
Regularly evaluate risks to ensure they are managed effectively.
Design, enforce and monitor credit risk policies and oversee exposures.
Recommend risk appetite thresholds and develop monitoring tools.
Maintain activities within relevant risk-related regulations.
Manage key risks, provide analysis, and highlight risk exposures and performance metrics.
Coordinate cross-functionally with business units to refine risk controls and support new product development.
Oversee responses to incidents and crises.
Create targeted strategies to reduce or control risk exposure.
Implement continuous monitoring systems and regular reporting to management.
Assess the effectiveness, relevance, and adequacy of the risk management framework in addressing 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.