Risk Director

Overview of the role The Risk Director is responsible for the design, ownership, and effective operation of the firm's enterprise-wide risk management framework. The role provides independent second-line oversight of all material non-financial and financial risks arising from the firm's electronic money issuance, payment services, and foreign exchange trading activities. Regulatory compliance, regulatory interpretation, and day-to-day compliance monitoring are owned by the Compliance Director. The Risk Director works in close coordination with the Compliance Director to ensure alignment between risk appetite, regulatory expectations, and the firm's overall control environment, without duplication or conflict of accountability. The role will also support strategic initiatives, including regulatory licence applications for group entities, and take on risk responsibilities for newly authorised entities once they are operational. 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…