Chief Risk Officer

6 days ago

New York, New York, United States Paga Full time
Job Title: Chief Risk Officer

About the Role:

The Chief Risk Officer is a critical member of the Paga team, responsible for overseeing various risk management and compliance functions. This individual will ensure that appropriate procedures, protocols, and strategies are implemented to minimize risk and protect the organization.

Key Responsibilities:

  • Develop and Implement Risk Management Framework: Set a risk and compliance framework for the company in line with Paga's strategy.
  • Lead Risk and Compliance Team: Take overall responsibility for the advice, management, and development of Paga's risk and compliance systems.
  • Advise Management Board: Advise the Management Board in the implementation of risk and compliance matters across the Company.
  • Compliance Reporting: Oversee the preparation of compliance reports for the relevant regulatory bodies.
  • Risk and Compliance Issues: Present to the Management Board monthly and quarterly on risk and compliance issues, including any recommendations for improvement.
  • Strategic Planning: Work closely with other members of the Senior Management Team in defining the company's strategy and planning while considering key risks.
  • Team Management: Manage the Risk & Compliance team and provide leadership and supervision to them and their work.
  • Policies and Procedures: Be the responsible individual for all policies on risk and compliance within the Office Procedure Manual, particularly the process of annual review – proposing improvements to manage risk.
  • Risk Assessment: Ensure the company strategy, processes, and compliance requirements have appropriate risk assessment systems and to monitor and ensure the robust management of each individual risk notified under that system.
  • Risk Registers: Ensure those risks are appropriately populated in the various risk registers and appropriate actions taken to ensure the effective management of risk matters, including consulting the Management Board on high-risk areas, Reputational Risk & complex cases.
  • Corrective Actions: Provide guidance and recommendations on corrective actions or risk mitigation strategies to remediate non-compliant situations to Senior Management.
  • Incident Management: Monitor the implementation progress of action plans designed to correct incidents of non-compliance or potential issues in policies, systems.
  • Regulatory Compliance: Ensure appropriate corrective actions or risk mitigations strategies are implemented fully within the required timeframe.
  • Regulatory Reviews: Investigate all breaches and near breaches of all regulations.
  • Partnerships: Lead the Risk Units partnership with Paga's Product Management, Application Development, and Legal teams.
  • Regulatory Compliance Reviews: Perform Regulatory Compliance Reviews to evaluate and ensure the appropriate identification of regulatory responsibility by the assessment of product functionality and associated controls.
  • Internal Audit: Provide support and as appropriate facilitate the engagement with Internal Audit, performing pre-audit activities, assisting with management responses, remediation plan development, and continued engagement with remediation of issues until closure.
  • Third-Party Risk Management: Participate in the Third-Party Risk Management activities and meetings to help ensure timely closure of outstanding third-party management issues; evaluate third-party risk and assist with escalation where needed.
  • Corporate Risk Initiatives: Support corporate-wide risk initiatives to ensure Paga implements required changes to meet internal and external mandates or certifications (e.g., PCIDSS, ISO27001, Enterprise Business Continuity initiatives, Cyber security efforts).
  • AML/CFT Program: Provide oversight on the company's AML/CFT program, Data protection Program, and any other applicable regulatory programs.
  • Risk and Compliance Training: Ensure all applicable risk and compliance training and applicable regulatory awareness training is delivered effectively and to all identified users in accordance with the Management Board requirements, delivering such training personally as appropriate.
  • Regulatory Relationships: Manage the relationship with our regulators, external auditors, external lawyers, law enforcement, and any other applicable external parties.

Requirements:

  • Education: Bachelor's degree in an analytical field such as engineering, finance, computer science, mathematics, economics, or legal.
  • Experience: At least 10 years of relevant work experience.
  • Certifications: Suitable candidate must have either of CFE, CAMS, or FRM Certifications.
  • Knowledge and Skills: Knowledgeable in technology, experience in a highly regulated environment, knowledge of risk management, Information Security, Cyber Security, Business Continuity, and Auditing.
  • Previous Experience: Previous experience in a risk management role within financial services ideally within a platform and product-led environment.
  • Industry Best Practices: Excellent knowledge of industry best risk management practice.
  • Commercial Acumen: Ability to understand and articulate the commercial benefits of effective risk management.
  • Leadership Skills: Proven ability to lead and motivate a team, make commercial business decisions, and be resilient in the face of resistance.
  • Collaboration: Works collaboratively with Management Board and Senior Management to resolve conflicts to acceptable outcomes for all.
  • Judgement: Judgement to balance commercial and compliance risks to achieve positive outcomes.
  • Communication Skills: Excellent relationship management and influencing skills, ability to build supportive relationships with different groups across the firm and externally.
  • Analysis and Reporting: Ability to analyse, present, and report risk management data to senior stakeholders.
  • Leadership and Coaching: Provides strong leadership, mentoring, and coaching within the team to develop skills and expertise.
  • Adaptability: Ability to adapt and respond to change.

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