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About the Role
The Risk Director is responsible for designing, owning, and operating the firm's enterprise-wide risk management framework. This role provides independent second-line oversight for non-financial and financial risks related to electronic money issuance, payment services, and foreign exchange trading. The role will also support a MiFID license application in 2026 and assume associated risk responsibilities.
Responsibilities
- Own and maintain the Enterprise Risk Management (ERM) framework, ensuring it is 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
Requirements
- 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.
- Must be eligible to work in the UK.
- Full background checks will be carried out on all successful candidates.
Skills
- Enterprise Risk Management (ERM)
- Risk appetite definition and embedding
- Risk identification, assessment, mitigation, and monitoring
- Risk register maintenance
- Risk assessment methodologies
- FX trading risk oversight (market, liquidity, settlement, counterparty)
- Treasury, hedging, and liquidity management review
- Stress testing and scenario analysis
- Prudential and financial resilience risk oversight (EMIs)
- Capital adequacy
- Safeguarding risk
- Wind-down planning
- Operational risk framework oversight
- Outsourcing and third-party risk management
- ICT risk management
- Cyber resilience
- Fraud risk management
- Business continuity planning
- Incident review and remediation tracking
- Payment processing infrastructure risk oversight
- FX execution platform risk oversight
- Critical systems risk oversight
- Conduct and reputational risk assessment
- Risk culture embedding
- Product governance risk input
- New business initiative risk input
- Risk reporting (Executive Committee, Board, Audit & Risk Committee)
- Effective challenge to senior management
- New product approval risk input
- Outsourcing decision risk input
- Material change assessment risk input
- FCA liaison for risk matters
- Regulatory submission support
- Risk function leadership and development
- Risk awareness promotion
- Collaboration with Compliance, Finance, MLRO, and Senior Managers
- Team management
Location
- London
Work Type
- Permanent
- Full Time
Experience Level
- Senior
Benefits
- 25 days’ annual leave, plus bank holidays
- An extra day off for your birthday
- Holiday loyalty scheme rewarding long-term service
- Work abroad scheme for added flexibility
- Competitive pension scheme via salary exchange
- Annual discretionary bonus scheme (eligible after probation)
- Financial education, planning & coaching platform
- Interest-free Season Ticket Loan for London travel
- Salary exchange nursery fee scheme
- Life Insurance
- Healthcare platform including: Cashback on dental, optical & physio, Virtual GP access, Mental health and stress support helplines, Additional wellbeing resources
- Enhanced parental leave
- Cycle to work scheme
- Flexible benefits that support everyday life
- Career development and progression tools
- Opportunities to grow within a fast-scaling international business
- Social events (sporting events, pub nights, seasonal celebrations, socials)
About the Company
- We believe that diversity and inclusion are essential to our success. We are committed to fostering a culture where everyone feels valued and respected, regardless of their background, identity or experiences. By embracing diverse perspectives and promoting equity, we aim to create an environment where all employees can perform and reach their full potential.