Risk Director

Enterprise Risk Management

• Own and maintain the Enterprise Risk Management (ERM) framework, ensuring it remains proportionate to the firm's business model, scale, and complexity. 
• Define and embed the firm's risk appetite, tolerances, and escalation thresholds, subject to Board approval.
• Ensure consistent risk identification, assessment, mitigation, and monitoring across all business activities, including payments and FX trading. 
• Maintain the firm-wide risk register and oversee the operation of risk assessment methodologies.

Financial, Prudential & FX Risk Oversight

• Provide independent oversight of risks arising from FX trading activity, including market risk, liquidity risk, settlement risk, and counterparty exposure. 
• Review and challenge treasury, hedging, and liquidity management arrangements, including stress testing and scenario analysis.
• Oversee prudential and financial resilience risks relevant to Electronic Money Institutions (EMIs), including capital adequacy, safeguarding risk, and wind-down planning, in coordination with Finance. 

Operational & Technology Risk

• Oversee the firm's operational risk framework, including outsourcing and third-party risk, ICT risk, cyber resilience, fraud risk, and business continuity planning.
• Review material incidents and near misses, ensuring root cause analysis and remediation actions are implemented and tracked. 
• Provide risk oversight of payment processing infrastructure, FX execution platforms, and critical systems. 

Conduct & Reputational Risk

• Assess and monitor conduct and reputational risks arising from products, customer journeys, pricing structures, and FX execution practices. 
• Support the embedding of a strong risk culture consistent with FCA principles, Consumer Duty, and Treating Customers Fairly outcomes. 
• Provide risk input into product governance and new business initiatives, distinct from compliance approval. 

Governance & Board Reporting

• Provide clear, independent risk reporting for the Executive Committee, Board, and Audit & Risk Committee, including emerging risks, risk appetite breaches, and stress scenarios. 
• Offer effective challenge to senior management on strategic decisions, growth initiatives, and material business changes. 
• Lead risk input into new product approvals, outsourcing decisions, and material change assessments. 

Regulatory Interaction

• Act as the senior management contact for risk-related FCA matters, supervisory reviews, and thematic work, while deferring regulatory interpretation and compliance policy matters to the Compliance Director. 
• Support regulatory submissions and reviews by providing risk assessments, scenario analysis, and management information, without assuming ownership of compliance obligations. 

Leadership & Culture

• Lead and develop the Risk function, ensuring appropriate capability, independence, and resourcing. 
• Promote risk awareness and accountability across first-line business functions. 
• Work collaboratively with the Compliance Director, Finance Director, MLRO, and other Senior Managers to maintain a coherent and effective second-line framework.
• Line manage two team members in line with company values. 

Scope and Accountability 

• Regulatory interpretation or ownership of FCA rules. 
• Day-to-day compliance monitoring, testing, or advisory activity. 
• Regulatory policy drafting or maintenance. 
• AML/CTF or sanctions compliance (owned by the MLRO and Compliance Director). 

• Senior risk management experience within an FCA-regulated financial services firm, ideally an EMI, payments institution, or FX provider, with MiFID experience. 
• Strong understanding of FX-related market, liquidity, and counterparty risks within a regulated environment, and knowledge of both MiFID and MiFID-exempt FX products. 
• Demonstrable experience operating independently from compliance functions within a three-lines-of-defence model.
• Proven ability to engage effectively with Boards, senior management, and regulators on risk matters. 
• A collaborative team player with a strong work ethic, growth mindset, and commitment to continuous improvement. 
• Adaptable, resilient, and able to perform effectively under pressure