Business Unit: Risk Management/ Compliance
Reporting to: Executive Director
Salary: 5000 Euros gross (negotiable) , includes company phone, medical insurance and no 13th salary, bonuses based on performance
Risk management Duties :
Head of Risk Management is responsible for managing day-to-day activities associated with all aspects of the risk management function at the company.
Head of Risk Management works collaboratively with the Management and all business and support functions employees.
Manage the implementation of all aspects of the risk function, including implementation of processes, policies, tools and systems to identify, assess, measure, manage, monitor and report risks;
Manage the corporate risk and control assessment reporting process as well as manage and maintain infrastructure elements (e.g. management reporting, including reporting to senior management);
Manage and participate in key decision-making processes (e.g. strategic planning, capital adequacy and liquidity planning, new products and services, compensation design and operation);
Monitor the following:
the adequacy and effectiveness of the Company’s risk management policies and procedures;
the level of compliance by the Company and its relevant personal with adopted and imposed trading and counterparty limits, arrangements, processes and mechanisms;
the adequacy and effectiveness of measures taken to address any deficiencies in those policies, procedures, arrangements, processes and mechanisms, including failures by the relevant persons of the Company to comply with such arrangements, processes and mechanisms or follow such policies and procedures.
Encompass all material risks to the Company, on- and off-balance sheet, portfolio-wise and business-line level. In order to perform effective risk assessments, regularly and on an ad hoc basis, evaluate the risks faced by the Company and its overall risk profile;
Keep pace with developments such as balance sheet and revenue growth; increasing complexity of the company’s business, risk configuration or operating structure; geographic expansion; mergers and acquisitions; or the introduction of new products or business lines;
Support the Board in its implementation, review and approval of the Company risk governance framework which includes the Company’s risk culture, risk appetite, liquidity, leverage and risk limits;
Prepare and submit reports and notifications to the Risk Management Committee, Board of Directors, regulators, internal auditors, external auditors and any other stakeholders.
Key Competencies & Qualifications :
University Degree in Banking, Finance, Economics or in a related field;
Minimum of 5 years’ experience within risk function;
Strong knowledge of banking products and services;
Knowledge of Cyprus regulatory requirements;
Excellent communication and interpersonal skills;
The ability to explain complex information clearly and simply;
The ability to analyze and research information;
Energetic, flexible with a positive attitude;
An honest and trustworthy manner;
Ability to take initiative and deliver results in a dynamic environment;
Attention to details;
Disciplined and self-motivated;
Fluent in English (Russian strongly beneficial)
Compliance Duties :
Compliance is responsible for ensuring the Company complies with its regulatory requirements, adheres to legal standards and internal policies.
The Role combines duties on enforcing regulations in all aspects and levels of business as well as provide guidance on compliance matters.
In addition the Compliance officer oversees and trains the Company’s employees on the compliance procedures, changes in regulatory environment and best practices.
Ensure that the compliance procedures are followed in order for the Company to comply with CySEC requirements;
Develop and oversee control systems to prevent or deal with violations of legal guidelines and internal policies
Revise procedures, reports and manuals periodically to identify hidden risks or non-conformity issues
Keep abreast of regulatory developments within or outside of the company as well as evolving best practices in compliance control
Prepare reports on a regular basis for senior management and external regulatory bodies as appropriate; ensure proper reporting of violations or potential violations to the regulatory bodies and senior management as appropriate and/or required.
Collaborate and liaise with other departments and external counsels to direct compliance issues for investigation and resolution.
Monitor and coordinate compliance activities of other departments to remain abreast of the status of all compliance activities and to identify trends.
Identifies potential areas of compliance vulnerability and risk; develops/implements corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations in the future.
Monitor the Company as part of its compliance to the current Cyprus legislation;
Provide assistance to internal or external auditors in compliance reviews;
Monitor compliance systems to ensure their effectiveness;
Design or implement improvements in communication, monitoring, or enforcement of compliance standards;
Taking ownership of the induction training for all new joiners, the annual AML training and any other ad-hoc training requirements;
Monitor KYC procedure.
Key Competencies & Qualifications :
University degree in Law is a mandatory;
In-depth knowledge of the industry’s standards and regulations
Experience as a compliance officer with CySec regulations companies
Legal education background will be considered as an advantage;
Excellent knowledge of reporting procedures and record keeping
A business acumen partnered with a dedication to legality
Previous experience in the financial industry;
Skills Required: Problem Analysis and Problem Solving, Decision-making, Influencing, Strong communication skills, Ability to work in a fast-paced environment, Negotiation skills, Organizing and Time Management Skills.