Risk Officer
Cryptocurrency
Bahrain
BFB Resident
The Risk Officer is a critical role within our cryptocurrency exchange in Bahrain, responsible for developing, implementing, and monitoring the exchange's risk management framework. This role requires a deep understanding of cryptocurrency markets, regulatory requirements, and risk management best practices. The Risk Officer will identify, assess, mitigate, and report on various risks, ensuring the exchange's operations are secure, compliant, and resilient.
Responsibilities
Risk Management Framework Development & Implementation: Design, implement, and maintain a comprehensive risk management framework tailored to the specific risks associated with cryptocurrency exchange operations, including market risk, credit risk, operational risk, cybersecurity risk, AML/CFT risk, and regulatory risk.
Risk Identification & Assessment: Proactively identify and assess potential risks across all business areas, including trading, custody, compliance, technology, and operations. Utilize quantitative and qualitative methods to evaluate the likelihood and impact of identified risks.
Risk Mitigation & Control: Develop and implement risk mitigation strategies and controls to minimize exposure to identified risks. This may involve developing policies, procedures, and controls related to KYC/AML, transaction monitoring, cybersecurity, and data privacy.
Monitoring & Reporting: Continuously monitor the effectiveness of risk controls and provide regular reports to senior management and the board on the exchange's risk profile, emerging risks, and risk management performance. Develop and maintain key risk indicators (KRIs) to track risk appetite and tolerance.
Regulatory Compliance: Stay abreast of evolving regulatory requirements related to cryptocurrency exchanges in Bahrain and internationally. Ensure the exchange's risk management framework complies with all applicable laws and regulations, including AML/CFT regulations.
Cybersecurity Risk Management: Collaborate with the IT security team to assess and mitigate cybersecurity risks, including hacking, phishing, and data breaches. Contribute to the development of cybersecurity policies and procedures.
AML/CFT Compliance: Work closely with the compliance team to ensure the exchange's AML/CFT program is effective and aligned with regulatory requirements. Contribute to the development of KYC/AML procedures and transaction monitoring systems.
Incident Management: Develop and implement incident response plans to effectively manage and mitigate the impact of risk events. Conduct post-incident reviews to identify lessons learned and improve the risk management framework.
Training & Awareness: Provide training and awareness programs to employees on risk management policies, procedures, and best practices. Promote a strong risk culture within the organization.
Collaboration & Communication: Collaborate effectively with other departments, including compliance, technology, operations, and legal, to ensure a coordinated approach to risk management. Communicate risk-related information clearly and concisely to various stakeholders.
Qualifications:
Bachelor’s degree in finance, Risk Management, Business Administration, or a related field. Master's degree or relevant professional certifications (e.g., FRM, CFA, CISA) are preferred.
Minimum of 5-7 years of experience in risk management, preferably within the financial services industry. Experience in the cryptocurrency or fintech sector is highly desirable.
Strong understanding of cryptocurrency markets, blockchain technology, and related risks.
Knowledge of regulatory requirements for cryptocurrency exchanges, including AML/CFT regulations.
Experience in developing and implementing risk management frameworks and methodologies.
Strong analytical and problem-solving skills, with the ability to assess and mitigate complex risks.
Excellent communication and interpersonal skills, with the ability to effectively communicate risk-related information to various stakeholders.
Ability to work independently and as part of a team.
Strong ethical and professional standards.
Preferred Skills:
Experience with risk management software and tools.
Knowledge of data analytics and visualization techniques.
Familiarity with cybersecurity best practices.
Arabic language proficiency.