Associate Director of Reserve

AXG (Solowin Holdings); Manama; On-site; BHD 90,000 - 150,000; Full time

Job summary

AX Coin, part of AXG, seeks an Associate Director of Reserve in Bahrain to design and operate banking, settlement, liquidity, and payment infrastructure for stablecoin issuance and payments. The role focuses on execution, regulatory compliance, and coordinating with banks and regulators.

Responsibilities include managing FI relationships, reserve composition, stress testing, and overseeing audits. The candidate will lead liquidity design, on-/off-ramp integration, and three-party reconciliation

Qualifications

• Deep understanding of the Central Bank of Bahrain stability and regulatory framework (SIO Module).
• Strong knowledge of AML and sanctions screening in payments.
• Experience with regulated financial products or platforms such as stablecoins or electronic money.
• Experience onboarding and maintaining bank partnerships and payment rails.
• Familiarity with liquidity management, asset-liability duration matching, and stress testing.

Responsibilities

• Manage strategic relationships with custodian banks and partner financial institutions.
• Ensure compliance of reserve assets with ratings, maturities, and currencies under CBB rules.
• Design and execute liquidity and stress tests for reserve pools.
• Operate a yield-bearing model within regulatory constraints.
• Oversee audits and ensure segregation of reserve assets from operating funds.
• Lead fiat on-ramp/off-ramp design and settlement integrations with partners.
• Govern fiat clearing and settlement mechanisms for minting and redemption.
• Establish three-party reconciliation across funds, assets, and on-chain data.
• Support regional expansion of banking and payment capabilities.
• Coordinate AML, sanctions screenings, and regulatory compliance with teams.

Skills

Regulatory knowledge

Payments and settlement

Investment and risk control

Reconciliation and operations

Education

CFA, FRM, CAIA, or CAMS certification

Job description

Job Overview

AX Coin (a member of AXG) is the first and only licensed stablecoin issuer under the regulation of the Central Bank of Bahrain. We are seeking an Associate Director of Reserve who will help with all banking, financial institution, and payment rail relationships. The Associate Director of Reserve is responsible for designing and operating the banking, settlement, liquidity, and payment infrastructure that underpins AX Coin's stablecoin issuance and payments ecosystem. This is a highly execution-focused role requiring deep understanding of transaction banking, settlement, and regulated payment flows.

Key Responsibilities

1.Banking and FI Relationship

Manage strategic relationships with custodian banks and partner financial institutions to ensure the security and efficient operation of reserve custody accounts.

2.Reserve Composition and Compliance Management

Strictly comply with Chapter 6 of the Central Bank of Bahrain CBB SIO Module to ensure full compliance of reserve assets with respect to ratings, maturities, and currencies. Establish and maintain a 1:1 integrity verification mechanism for reserve assets, and monitor daily to ensure the market value of reserve assets never falls below the total face value of stablecoins in circulation.

3.Liquidity Management and Stress Testing

Manage asset maturity structures to ensure high liquidity for real-time minting and redemption demands. Design and execute stress tests under extreme market conditions such as a redemption crunch to ensure the reserve pools resilience.

4.Yield and Risk Balance

Operate a yield-bearing stablecoin model within legal and compliance frameworks.

5.Audit, Reporting and Segregation

Work with accounting firms to complete monthly or quarterly Proof of Reserves audits. Ensure strict physical segregation of reserve assets from corporate operating funds via segregated accounts. Submit reserve asset composition reports to the Central Bank of Bahrain at the required frequency.

6.Payment Rail and Settlement Architecture

Lead the design, integration, and maintenance of fiat on-ramp and off-ramp channels. Establish and manage the connection between settlement accounts and payment partners.

7.Liquidity Flow Design and Oversight

Define and govern the fiat clearing and settlement mechanisms within the stablecoin minting and redemption processes to ensure efficient and transparent fund movement.

8.Reconciliation and Operational Coordination

Establish a three-party reconciliation mechanism among fund flows, asset flows, and on-chain data to ensure consistency between circulating supply, reserves, and in-transit funds. Act as the primary point of contact for banking and payment partners to resolve abnormal operational interruptions.

9.Regional Expansion Support

Support and expand the company's banking and payment capabilities.

10.Stakeholder and Partner Management

Work closely with compliance, product, and operations teams to ensure all payment processes and reserve management activities adhere to AML, sanctions screening, and Central Bank of Bahrain regulatory requirements.

Key Requirements

1.Experience

• Industry Experience: 5+ years of relevant experience in one or more of the following areas: payments, transaction banking, treasury management, financial infrastructure; asset management, asset-liability management ALM, fixed income investment, asset custody; experience supporting regulated financial products or platforms such as stablecoins or electronic money institutions.


• Regional Experience: Experience working with financial institutions, fintechs, or regulatory bodies in Bahrain or the Middle East is preferred.

2.Skills and Knowledge

Regulatory Knowledge:

• Deep understanding of the Central Bank of Bahrain CBBs stablecoin regulatory framework, particularly the SIO Module requirements for eligible reserve assets.


• Familiarity with AML and sanctions screening requirements in the payments space.

Payments and Settlement:

• Strong understanding of payment systems, settlement mechanisms, and liquidity management.


• Hands-on experience onboarding and maintaining bank partnerships and payment rails.

Investment and Risk Control:

• Familiarity with short-term fixed income investments and asset-liability duration matching.


• Capability in liquidity risk modeling and stress testing.

Reconciliation and Operations:

• Ability to design and implement complex multi-party reconciliation processes on-chain vs. bank vs. reserves.

Tools and Certifications:

• CFA, FRM, CAIA, or CAMS certification is preferred.

Fluency in Arabic and English is required.

3.Soft Skills and Attributes

• Strong execution discipline, ability to work under pressure, communication and negotiation skills, and compliance sensitivity.

4.Must have legal authorization to work in Bahrain.