Head of Risk - Cyprus

The role

The Head of Risk owns risk management for Bitvavo Europe Limited in Cyprus. This person will manage enterprise risk, financial risk, and non-financial risk frameworks.

What you will do

• Own and improve the risk management framework, including risk taxonomy, appetite, and the three-lines-of-defence model
• Maintain the risk appetite framework across credit, market, solvency, liquidity, operational, reputational, strategic and technology risk
• Produce reporting for the Board and Risk Committee
• Support the Board's annual assessment of framework effectiveness and respond to Internal Audit and CySEC findings
• Monitor exposure to clients, clearing members, CCPs, bilateral counterparties and custodians
• Conduct independent review of margin methodology and set tolerance levels
• Manage inventory, hedging, settlement mismatches, FX and corporate action exposure
• Oversee settlement liquidity, cash funding, liquidity stress testing and the contingency funding plan
• Own the ICARA, including own funds and K factor monitoring and prudential reporting to CySEC
• Run firm wide and reverse stress tests

Required qualifications

• Based in Cyprus and able to work from Limassol office
• Approximately 8 to 10 years in risk management within a regulated broker, investment firm, exchange or clearing member
• Several years leading a risk function or major risk domain
• Demonstrated ownership of enterprise risk framework and risk self assessment
• Proficient knowledge and experience in both financial and non-financial risk within an exchange or broker firm operating in the capital markets and or crypto domain
• Expert knowledge of financial instruments, including crypto, stocks, ETFs, derivatives and commodities, and the clearing and settlement process
• Working knowledge of the CIF prudential framework, including the IFD/IFR regime, ICARA, K factor requirements and prudential reporting to CySEC, including FinRep and Corep
• Familiarity with the wider requirements applying to a CIF, including the Investment Services and Activities and Regulated Markets Law, relevant CySEC circulars and directives, MiFID, DORA, MiFIR and E
• Quantitative fluency, with the ability to interrogate margin models, stress scenarios and exposure data

About the company

Bitvavo launched its digital assets trading platform in 2018 to bridge the gap between traditional currencies and digital assets. It is a market leader in the Netherlands and one of the largest in Europe.