Group Head of Risk

Market Securities; Dubai; On-site; AED 900,000 - 1,300,000; Full time

Benefits offered by this job

Direct access to Managing Partners

International scope

Competitive compensation

Dubai or London base with travel

Job summary

Market Securities in Dubai seeks a Group Head of Risk to lead the enterprise risk management framework across brokerage and asset management. You will provide independent oversight, escalate material risks, and partner with Compliance, Legal and Finance to strengthen risk governance.

The role requires at least 6 years in risk within regulated financial services, a track record of building or restructuring risk functions, and fluency in English. Dubai or London base with international travel.

Qualifications

• Structured thinker with analytical and written communication skills.
• Experience leading risk functions in regulated financial services.
• Ability to operate autonomously in a lean, entrepreneurial environment.
• Fluency in English; French or Arabic a plus.

Responsibilities

• Design and implement the Group's enterprise risk management framework as second line of defence.
• Chair the Risk Committee and produce risk reporting for Partners and regulators.
• Lead annual ICARA processes and develop stress testing programmes.
• Oversee counterparty, market and broker risk across all entities.
• Lead RCSA programme and drive risk-based remediation across departments.
• Collaborate with Compliance, Legal and Finance to ensure regulatory alignment.

Skills

Structured thinking

Analytical skills

Written communication

Autonomy

Commercial awareness

Discretion

English fluency

Job description

About Market Securities

Market Securities is an independent, international broker-dealer with approximately 350 professionals across 11 offices: London, Paris, Geneva, Monaco, Madrid, Tunis, Dubai, Karachi, Lahore, Hong Kong and New York. The Group operates across four main regulated entities — KBL (Kyte Broking Limited, FCA), MSF (Market Securities France, AMF), MS LLC (Market Securities New-York, SEC, CFTC, Finra, NFA) and MSD (Market Securities Dubai, DFSA) — covering fixed income, equities, currencies, commodities, structured products and cross‑asset brokerage.

The Group also encompasses regulated asset management activities in Dubai and Geneva, which fall within the scope of the Group Risk function.

The Group is entering a phase of structured growth, underpinned by governance reform, technology investment and operational modernisation. The Group Head of Risk joins at a pivotal moment to take over risk responsibilities currently overseen at Partner level.

Role Purpose

The Group Head of Risk is a senior leadership position responsible for overseeing and further developing Market Securities’ enterprise risk management framework across the Group’s brokerage and asset management businesses.

The role provides independent oversight, coordination and challenge across all entities and jurisdictions, ensuring a consistent approach to risk management across the Group.

The role reports to two Managing Partners, with unrestricted access to all Managing Partners. The postholder is expected to escal material risks directly and independently, without requiring prior clearance from any business line.

The postholder will strengthen and further develop the Group’s risk management capability, working closely with Compliance, Legal and Finance across all entities and jurisdictions.

Key Responsibilities

Risk Framework & Governance

• Design and implement the Group's enterprise risk management framework, operating as the second line of defence and providing independent oversight of risk-taking activities across all business lines and support functions.
• Own and maintain the Group Risk Appetite Statement, reviewed and validated annually with the Managing Partners.
• Chair the Risk Committee and produce regular risk reporting for Partners and, where applicable, regulators across the Group’s brokerage and asset management businesses.
• Develop and maintain a Group-wide risk register, updated on a defined cadence.
• Review and challenge new products, new markets, new desks and material business changes through an appropriate New Product Approval governance framework, with documented Risk involvement before launch or distribution and when material changes occur.

Capital, Liquidity & ICARA

• Lead and coordinate the annual ICARA process for KBL and equivalent prudential risk assessments across the Group’s other regulated entities and asset management businesses, in line with their respective regulatory frameworks.
• Develop and maintain the stress testing and reverse stress testing programme, calibrated to the Group's risk profile and business model.
• Support wind-down planning and ensure the firm maintains credible and documented recovery options.
• Monitor capital and liquidity adequacy on an ongoing basis and escal early warning indicators to the Managing Partners.
• Coordinate ICARA outputs with Finance (CFO) and Compliance to ensure consistency across regulatory submissions.

Counterparty, Market & Broker Risk

• Oversee counterparty risk, including broker defaults, concentration risk and credit exposure across the Group's trading relationships.
• Monitor settlement and clearing risk, maintaining oversight of open positions, failed trades and liquidity exposure.
• Provide risk oversight of any principal positions, inventory risk and market exposure where applicable.
• Maintain visibility of liquidity risk across all entities, with particular focus on the regulatory liquidity requirements of each regulated entity.
• Provide independent risk assessment and ongoing oversight of structured products arranged or distributed by the Group, including issuer and counterparty credit risk, market and liquidity risk, product complexity, payoff structures and relevant valuation risks. Assess potential exposures and losses to the Group and its clients, including under stressed scenarios.

RCSA (Risk and Control Self-Assessment)

• Lead the RCSA programme across all departments and entities, ensuring consistent methodology and meaningful engagement from function heads.
• Facilitate department-level workshops to identify, assess and score risks across all key business and support functions.
• Assess and challenge the adequacy and effectiveness of control environments for each function, identify gaps and tracking remediation actions through to closure.
• Produce consolidated RCSA reporting for Partners and ensure outputs feed into audit and regulatory readiness processes.

Regulatory & Compliance Interface

• Work closely with Compliance on risk-related regulatory matters across all Group entities, business lines and jurisdictions, reflecting each entity’s permitted activities and applicable regulatory framework.
• Provide independent oversight and challenge of adherence to applicable risk management and prudential requirements, escalating material breaches, control weaknesses and emerging risks to the relevant senior management and governing bodies.
• Work with Compliance and local MLROs to assess and challenge financial crime risks, including money laundering, terrorist and proliferation financing, sanctions, fraud, and bribery and corruption, ensuring these are appropriately reflected in the Group’s risk framework, risk appetite and reporting.
• Provide independent risk input and challenge in relation to client onboarding, ongoing reviews and the acceptance, continuation or exit of high-risk or complex client relationships, informed by customer due diligence findings, screening results and changes in client risk profiles.
• Maintain oversight of outsourcing and third‑party risk.
• Provide risk-function oversight of conflicts of interest and market abuse as conduct risk categories within the Group’s risk framework.
• Assess and report on Non‑Financial Misconduct (NFM) as a risk category, in coordination with Compliance and HR.

Operational Risk & Business Continuity

• Oversee operational risk monitoring across trading, technology, finance and support functions.
• Oversee the maintenance and testing of the Group's Business Continuity Plan (BCP) and Disaster Recovery procedures.
• Provide independent oversight and challenge of cyber security, technology resilience and incident response protocols.

Culture & Stakeholder Engagement

• Embed a risk‑aware culture across the Group through training, communication and direct engagement with desk heads and function leads.
• Act as a trusted advisor to the Managing Partners on risk‑related strategic decisions, including new market entry, product launches and significant business changes.
• Liaise with external auditors, legal counsel and external advisors on risk‑related matters.

Candidate Profile

Experience

• Minimum 6 years of relevant risk management experience within a regulated broker‑dealer, investment firm or financial services group.
• Demonstrated experience building or restructuring a risk function in a small‑to‑mid‑size institution.
• Strong working knowledge of FCA (MiFIDPRU/ICARA) regulatory requirements and familiarity with DFSA, AMF and asset management regulatory frameworks.
• Hands‑on experience leading RCSA programmes across multiple business lines.
• Track record of engaging directly with senior leadership and regulators.

Skills & Attributes

• Structured thinker with strong analytical and written communication skills.
• Ability to operate autonomously in a lean, entrepreneurial environment — builder mindset, not just operator.
• Commercially aware: understands how risk decisions affect business performance and broker relationships.
• Discreet, calm under pressure, and able to deliver difficult messages constructively.
• Fluency in English required; French or Arabic a plus given the Group's geographic footprint.

What We Offer

• Direct access to and close partnership with Managing Partners and the wider Partners group.
• A mandate to strengthen a risk function that reflects the firm's ambitions.
• International scope across the Group’s brokerage and asset management businesses, covering multiple regulatory jurisdictions.
• Competitive compensation package commensurate with seniority and scope.
• Dubai or London base with regular travel to Paris, and other offices as required.