On behalf of our client, a leading Electronic Money Institution (EMI) headquartered in Cyprus, GRS Recruitment is seeking a highly experienced Head of Risk Management to join their team in Nicosia. This senior-level position is approved by the Central Bank of Cyprus (CBC) as a Key Function Holder, reporting directly to the Board of Directors and administratively to the CEO. The successful candidate will be responsible for providing independent oversight of all material risks, ensuring compliance with CBC, EBA, and DORA requirements, while supporting the company’s mission to deliver innovative and secure financial solutions.
MAIN DUTIES AND RESPONSIBILITIES
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Lead the design, implementation, and maintenance of a comprehensive Risk Management Framework, including Risk Register, Risk Appetite Statement, KRIs, and customer risk classification in collaboration with Compliance.
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Oversee the identification, assessment, and monitoring of all material risks (operational, ICT/cyber, financial, outsourcing, reputational), including risk assessments for new products and services.
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Coordinate stress testing, scenario analysis, and updates to risk ratings.
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Ensure DORA compliance through ICT incident management, business continuity, disaster recovery, and third-party/vendor risk oversight.
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Monitor emerging risks including crypto assets, blockchain, and AI sectors.
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Prepare and present risk reports to the Board of Directors and CBC, escalating significant incidents promptly with corrective action recommendations.
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Review and update risk policies and foster a strong risk-aware culture through training and awareness initiatives.
CANDIDATE PROFILE
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Minimum 5 years’ experience in a senior risk management role within an EMI, payment institution, bank, or other regulated financial services entity.
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Proven expertise in risk identification, measurement, monitoring, and reporting across operational, ICT/cyber, financial, outsourcing, and reputational risks.
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Demonstrated knowledge of DORA implementation and ICT/cybersecurity frameworks.
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Practical experience in risk assessment for crypto-asset and blockchain sectors.
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Skilled in applying both quantitative and qualitative risk analysis methodologies.
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Meets the CBC’s fit & proper criteria for Key Function Holders: impeccable professional conduct, no regulatory sanctions, and strong ethical leadership.
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Advanced analytical skills with proficiency in Excel, BI tools, and statistical methods for scenario modelling and stress testing.
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Strong ability to interpret complex datasets and detect emerging risks.
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Strategic mindset with the ability to translate technical insights into clear, actionable recommendations.
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Proactive, adaptable, and effective in a fast-paced, technology-driven environment.
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Excellent communication and collaboration skills across all levels of the organisation.
COMPANY BENEFITS
Due to the high volume of applications, we receive at GRS Recruitment, only shortlisted candidates will be responded to.
To apply for this position, please email your CV to
Ross Pitman, ross@grsrecruitment.com quoting the above job reference or call +357 25 342 736 for further information.