Head of Risk

Le Meas Executive Search; Dublin; On-site; EUR 120,000 - 180,000; Full time

Job summary

Le Meas Executive Search is assisting a Dublin-based management company to appoint a Head of Risk who will lead the second line of defence across enterprise risk, ICAAP, DORA and regulatory oversight.

The role requires 8–10 years in asset management or fund services, strong governance experience, and the ability to challenge decisions at board level while embedding a robust risk culture in a growing organisation.

Qualifications

• Experience designing and embedding enterprise and operational risk frameworks (risk appetite, KRIs, ESS, RCA).
• Strong knowledge of Irish regulation (UCITS, Central Bank guidance, Fitness & Probity).
• Experience with risk reporting to boards and regulators.
• Ability to challenge at board level and influence decisions.

Responsibilities

• Own and develop enterprise risk framework and risk appetite, policies and risk registers.
• Define and monitor risk indicators and tolerances; maintain risk profile and escalation.
• Provide input to ICAAP, stress testing and regulatory submissions under UCITS IFR/IFD.
• Lead incident management, root cause analysis and lessons learned; manage risk event database.

Skills

Enterprise risk

Policy design

Regulatory knowledge

Communication

Root cause analysis

Independent judgement

Strategic thinking

Education

FRM/PRM/CFA/IOB/ACOI

Job description

We are looking for a Head of Risk to join a Dublin-based Management Company. The business has a suite of Irish-domiciled UCITS registered for distribution across multiple international markets, alongside MiFID permissions supporting European segregated mandate business. As the product range, distribution footprint and regulatory obligations grow, the firm is appointing a Head of Risk to lead the second line of defence.

The successful candidate will be put forward to the Central Bank of Ireland for pre-approval as Chief Risk Officer (PCF-14) and for the Designated Person roles covering Operational Risk Management (PCF-39B) and Fund Risk Management (PCF-39C).

Core Responsibilities

• Own, maintain and continuously develop the Management Company's enterprise risk management framework, risk taxonomy, policies, risk appetite framework and Board-approved risk appetite statement, keeping them proportionate to the nature, scale and complexity of the business.
• Design and run the risk and control self-assessment process across all functions; challenge control design and operating effectiveness, and track remediation to closure.
• Define, calibrate and report key risk indicators and tolerances; maintain the risk register and entity risk profile, and escalate exposures that are outside, or trending outside, appetite.
• Provide risk input to the ICAAP, identifying and quantifying material risks, severe-but-plausible stress and scenario analysis, assessing capital and liquidity adequacy against own funds requirements under the UCITS Regulations and IFR/IFD, and supporting Board approval and submission to the Central Bank.
• Maintain the wind-down plan and wind-down cost analysis, with assumptions, triggers and recovery actions kept consistent with the ICAAP and the risk appetite statement.
• Manage the operational risk framework across process, people, conduct, fraud, data, change, ICT and third-party risk.
• Lead error, incident and near-miss management end to end, including investigation, root cause analysis, client and investor impact assessment, corrective action and lessons learned; operate the risk event and loss database and report themes that drive improvements across the business.
• Maintain and test the breach and escalation protocol, including investment restriction breaches, NAV and pricing errors, dealing and settlement issues and fee errors, with timely notification to senior management, the Boards, the depositary and the Central Bank as required.
• Provide second-line oversight of delegate and outsourcing arrangements, including the administrator, depositary, transfer agent, delegate investment manager, distributors and other Management Company service providers, covering due diligence, ongoing monitoring, service level review and the outsourcing register.
• Ensure the Management Company meets the Central Bank's guidance on outsourcing and operational resilience and the requirements of the Digital Operational Resilience Act (DORA), including ICT risk management, incident reporting and resilience testing; own business continuity and disaster recovery planning and testing.
• Provide independent risk opinion and effective challenge on new products, share classes, distribution markets, service providers, systems and material change initiatives, including formal risk assessment and sign-off.
• Oversee the UCITS risk management process, ensuring global exposure and leverage, market, counterparty, concentration, liquidity and sustainability risk limits are monitored and adhered to, and that liquidity stress testing meets ESMA requirements.
• Produce accurate, consistent and decision-useful risk reporting for the Head of Office, the Board, Fund Boards and relevant committees.
• Act as a key point of contact with the Central Bank on risk matters, and support regulatory returns, thematic reviews and inspections.
• Track regulatory and market developments and translate them into concrete framework changes; maintain risk policies, procedures and authorised signatory lists.
• Embed a strong risk culture across the Dublin office, working closely with Operations, Legal and Compliance, Finance, Technology and Client Service teams across the wider organisation on global risk projects.

Qualifications

• A minimum of 8–10 years' relevant risk management experience gained in asset management, a fund management company, fund administration or professional services, weighted toward operational and enterprise risk.
• A demonstrable track record of designing, implementing and embedding enterprise and operational risk frameworks, including risk appetite, control self-assessment, key risk indicators, event management and root cause analysis.
• Strong working knowledge of the Irish regulatory environment, including the Central Bank UCITS Regulations, the Fund Management Companies Guidance, the Designated Person model, and the Fitness and Probity and Individual Accountability Frameworks.
• Working knowledge of operational resilience, outsourcing and ICT risk requirements, including DORA.
• Sufficient seniority, independence and strength of character to form an independent risk view, defend it under pressure and influence decisions at Board level.
• Excellent written and verbal communication, with the ability to present risk clearly to Boards, regulators and international stakeholders.
• Comfort operating hands-on in a lean, growing office, building processes from a standing start and prioritising independently.
• Previously held a Central Bank-approved PCF function is a plus, as is a relevant professional qualification such as FRM, PRM, CFA, IOB or ACOI, and experience of a delegated investment management model with a non-EU parent.
• Integrity: Commitment to professional standards even in difficult situations; trustworthy and honest; knows and does what is right.
• Judgement & decision making: Makes timely, informed decisions that account for the facts, goals, constraints and risks, including under pressure.
• Analytical: Uses logical thinking to make inferences from data and solve complex problems; relies on facts to support conclusions.
• Accountability & initiative: Takes ownership, follows through on commitments, proactively raises issues and coordinates decision makers to resolve them.
• Communication & positive influence: Open and direct; escalates early; persuades to create action and offers constructive challenge without unnecessary friction.
• Collaboration: Works effectively across operations, legal, compliance, finance, portfolio management, product and client service teams, as well as with external service providers.