Head of Risk
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Key skills for this role
About the Role
KIRA Financial Brokers LLC seeks a Head of Risk to establish and maintain the Risk Management Framework in compliance with CMA/SCA regulations. The role requires 8-10 years of risk management experience in financial services, with 3-5 years in leadership, and a professional risk certification (FRM, PRM, or equivalent).
Key Skills for This Role
Responsibilities
- Establish, implement, and maintain the Risk Management Framework in full compliance with CMA/SCA regulations
- Develop and maintain the Risk Appetite Statement (RAS) and quantitative Risk Appetite Framework (RAF)
- Lead the annual ICAAP and IRAP processes, including stress testing, scenario analysis, and capital planning
- Oversee the RCSA process and maintain the central Risk Register and Risk Matrix
- Prepare and present monthly risk dashboards and quarterly risk reports to Senior Management and the Board
- Monitor Key Risk Indicators (KRIs) across all risk categories against pre defined thresholds
- Lead the Trade Surveillance program, including automated monitoring and manual review of unfair trading indicators
- Ensure immediate escalation of material risk events, control failures, or risk appetite breaches
- Challenge the effectiveness of existing controls and recommend enhancements
- Deliver annual risk management training to all employees
Requirements
- Bachelor’s degree in Finance, Economics, Risk Management, Business Administration, or related field
- Professional risk certification required (e.g., FRM, PRM, or equivalent)
- Minimum 8–10 years of progressive experience in risk management within the financial services industry
- At least 3–5 years in a leadership role
- Direct experience in an SCA regulated entity (brokerage, investment firm, or bank) is essential
- Deep understanding of CMA / SCA Decision No. 13/Chairman of 2021, AML/CFT regulations, market abuse rules, and prudential requirements
- Proficiency in risk assessment methodologies (RCSA, inherent/residual scoring), KRI development, stress testing, and trade surveillance systems
- Advanced Excel and risk system experience
Full Job Posting
Head of Risk
- The Head of Risk is responsible for establishing, implementing, and maintaining KIRA Financial Brokers LLC’s Risk Management Framework in full compliance with CMA / SCA regulations (Decision No. 13/Chairman of 2021) and international best practices.
- This role acts as the Second Line of Defense (2LOD), providing independent oversight, challenge, and assurance that all material risks are identified, assessed, mitigated, monitored, and reported.
Key Responsibilities
- Own, maintain, and evolve the Firm’s Risk Management Policy.
- Lead the annual policy review cycle and initiate ad hoc reviews.
- Ensure the Risk Management Framework is integrated across all departments.
- Develop and maintain the Risk Appetite Statement (RAS) and quantitative Risk Appetite Framework (RAF).
- Lead the annual ICAAP and IRAP processes.
- Monitor capital adequacy ratios monthly and lead capital breach escalation procedures.
- Oversee the RCSA process and maintain the central Risk Register and Risk Matrix.
- Prepare and present monthly risk dashboards and quarterly risk reports.
- Monitor KRIs across all risk categories.
- Lead the Trade Surveillance program.
- Ensure immediate escalation of material risk events.
- Challenge the effectiveness of existing controls and recommend enhancements.
Qualifications & Experience
- Bachelor’s degree in finance, Economics, Risk Management, Business Administration, or related field. Master’s degree or MBA preferred.
- Professional risk certification required (e.g., FRM, PRM, or equivalent). ICAAP/IRAP certification or training is highly desirable.
- Minimum 8–10 years of progressive experience in risk management within the financial services industry, with at least 3–5 years in a leadership role.
- Direct experience in an SCA regulated entity (brokerage, investment firm, or bank) is essential.
- Deep understanding of CMA / SCA Decision No. 13/Chairman of 2021, AML/CFT regulations, market abuse rules, and prudential requirements.
- Proficiency in risk assessment methodologies (RCSA, inherent/residual scoring), KRI development, stress testing, and trade surveillance systems. Advanced Excel and risk system experience.
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