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Bitvavo

Head of Risk - Cyprus

Cyprus
Director+ · FullTime · Cyprus
POSTED 22 SEPTVERIFIED 1D AGO
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48 days opentrue age
Posted 22 Sept
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In 2018, Bitvavo launched the first version of its digital assets trading platform, to bridge the gap between traditional currencies and digital assets. By offering transparent fees, a wide range of assets and an easy to use platform, Bitvavo is making the currency of the future accessible for everyone.

In two years' time, Bitvavo has established itself as the market leader in the Netherlands and one of the largest in Europe, with over one million users exchanging tens of billions of digital assets a year.

About the Role

This is a local Head of Risk role, based in Limassol, owning risk management for Bitvavo Europe Limited, our MiFID II regulated entity in Cyprus and reporting to our Group Head of Risk in Amsterdam.

As this is a local role, we are only considering candidates who are currently based in Cyprus and able to work from Limassol.

What You'll Be Doing

Enterprise Risk and Governance

Own and continuously improve the risk management framework, including risk taxonomy, risk appetite, tolerance levels, risk register, policies, RCSA methodology and the three-lines-of-defence operating model

Maintain the risk appetite framework across credit, market, solvency, liquidity, operational, reputational, strategic and technology risk

Produce concise, decision-oriented reporting for the Board and Risk Committee, covering the risk tolerance dashboard, top risks, appetite breaches, emerging themes and open issues

Support the Board's annual assessment of framework effectiveness and respond to Internal Audit and CySEC findings within the function's remit

Financial Risk

Counterparty and credit: Monitor exposure to clients, clearing members, CCPs, bilateral counterparties and custodians, including limits, concentration analysis and collateral

Client margin and leverage: Conduct independent review of margin methodology, define stress tests, set tolerance levels and gap risk on derivatives and leveraged products, and challenge assumptions and back test outcomes

Market risk: Manage inventory, hedging, settlement mismatches, FX and corporate action exposure, within set sensitivity and position limits

Liquidity and funding: Oversee settlement liquidity, cash funding for settlement purposes, liquidity stress testing and the contingency funding plan

Capital: Own the ICARA, including own funds and K factor monitoring, internal capital and liquidity adequacy, and wind down analysis, supporting accurate prudential reporting to CySEC

Stress testing: Run firm wide and reverse stress tests covering extreme market moves, gap events, venue or CCP disruption, clearing broker default and volume spikes, with clear management actions

Non-Financial Risk

Third party and outsourcing: Conduct criticality assessment, due diligence, concentration risk analysis, exit strategies and maintenance of the register of arrangements

Business impact analysis: Own the methodology and cycle, criticality, MTO, RTO/RPO and dependencies, feeding BCP/DR and third party criticality

Incident management and escalation procedure: Manage severity classification, escalation triggers to ExCo, Board and CySEC via Compliance, live assessment and post incident remediation

Operational resilience: Define important business services, impact tolerances and resource mapping, run scenario and tabletop testing, and close gaps under DORA

What We're Looking For

Based in Cyprus and able to work from our Limassol office, as this is a local role and only candidates already based in Cyprus are being considered

Approximately 8 to 10 years in risk management within a regulated broker, investment firm, exchange or clearing member, including several years leading a risk function or major risk domain

Demonstrated ownership of enterprise risk framework and risk self assessment (not solely advisory or policy experience)

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

Source · BitvavoFirst seen 4 NovOriginal ↗