Lead Regulatory and Risk

Employment; Muscat; On-site; OMR 46,000 - 69,000; Full time

Job summary

Employment in Oman seeks a Regulatory and Risk Lead to head the second line of defence for a new financial markets infrastructure venture. You will own the enterprise risk framework, regulatory relationships, and AML/financial crime oversight, with a view to progressing into Head of Risk and Compliance during Run.

You will design and implement policies, engage with regulators on licensing and inspections, and lead the second-line function as it matures in a regulated FMI environment.

Qualifications

• At least 12 years in risk, compliance, or regulatory roles in financial services.
• Direct second-line risk and compliance ownership at a regulated financial market infrastructure.
• Experience engaging with senior regulators on licensing, supervisory matters, and inspections.
• Knowledge of CPMI-IOSCO Principles for Financial Market Infrastructures.
• Experience designing AML and financial crime frameworks including MLRO accountability.
• Ability to challenge first-line decisions and escalate to Board level when needed.
• Professional qualifications such as ICA Diploma, CISI, or ACAMS preferred.

Responsibilities

• Design the enterprise risk framework from a blank sheet, incl. risk taxonomy and governance.
• Own regulator relationship, lead responses to inspections and supervisory inquiries.
• Own the regulatory engagement plan: notifications, submissions, meetings, reviews.
• Provide second-line oversight of adherence to CPMI-IOSCO Principles for FMIs.
• Design and own the financial crime framework and MLRO accountability.
• Set information security policy framework and regulator-facing reporting.
• Provide independent second-line reporting to the Board Risk Committee.
• Line-manage the Cybersecurity/Info Security Manager and KYC/Compliance experts.

Skills

Second-line risk ownership

Regulatory engagement with authorities

Regulatory reporting oversight

AML/financial crime framework design

Information security oversight

Board-level escalation & challenge

Education

Professional qualification (ICA Diploma, CISI, ACAMS, or equivalent)

Job description

A new financial markets infrastructure venture is being established in Oman, backed by prominent institutional investors and operating under an international common law framework. The platform is a greenfield central securities depository regulated under the CPMI-IOSCO Principles for Financial Market Infrastructures.

We are hiring a Regulatory and Risk Lead to head the second line of defence. The role is accountable for the enterprise risk framework, regulatory relationship and compliance, financial crime prevention, and oversight of information security. The intention is that the post-holder progresses into the Head of Risk and Compliance role in the Run phase.

The first-line functions own the day-to-day execution and the controls that surround it. The Regulatory and Risk Lead independently reviews, challenges, and reports on that first-line execution; sets the policy and framework standards within which it must operate; and owns the relationship with the regulator across all matters except specific operational regulatory reporting. The post-holder must be willing and able to challenge their peers, including those above them, without flinching, and to escape to the Board where necessary.

What the role covers

• Designing the enterprise risk framework from a blank sheet: risk taxonomy, risk appetite, risk tolerances, key risk indicators, governance, and reporting
• Owning the day-to-day relationship with the regulator on all compliance and supervisory matters; leading the response to inspections and supervisory enquiries
• Owning the regulatory engagement plan: notifications, periodic submissions, supervisory meetings, thematic reviews, and ad hoc requests
• Providing second-line oversight of adherence to CPMI-IOSCO Principles for Financial Market Infrastructures; leading engagement with PFMI assessors and international supervisory bodies
• Designing and owning the financial crime framework: AML, counter-terrorism financing, sanctions, and anti-bribery and corruption; discharging or designating MLRO accountability
• Setting the information security policy framework and providing second-line oversight of first-line information security; owning regulator-facing reporting on cyber matters
• Owning the policy framework: structure, hierarchy, ownership, review cycles, and attestation
• Providing independent second-line reporting to the Board Risk Committee on risk, compliance, financial crime, and information security
• Line managing the Cybersecurity and Information Security Manager, KYC/Compliance Expert, and wider Risk and Compliance team as it builds

Requirements

Who we are looking for

• At least 12 years in risk, compliance, or regulatory roles in financial services, with substantial time in a second-line capacity at a regulated firm. Direct, demonstrable experience as the second-line risk and compliance owner, or a senior member of the second-line function, at a financial market infrastructure, custody bank, exchange, payment system, or major regulated financial institution: this is non-negotiable.
• Direct experience engaging with a senior financial-services regulator on licensing, supervisory matters, inspections, and policy development. Working knowledge of CPMI-IOSCO Principles for Financial Market Infrastructures.
• Direct experience designing and operating an AML and financial crime framework, including MLRO accountability or close support of an MLRO.
• Track record of independently challenging first-line decisions and escalating to Board level where necessary.
• A professional qualification (ICA Diploma, CISI, ACAMS, or equivalent) is an advantage. So is familiarity with the IFC Oman regulatory framework, direct experience in a CSD, CCP, or exchange, and Arabic language skills.

What this is

The second-line function does not exist yet. The risk framework has not been written, the compliance monitoring plan has not been set, and the regulatory relationship is in its earliest stages. The person who takes this role will build all of it and carry it through licensing and into operation.

If you are unquestionably credible with senior regulators, have the independence to challenge upward when the evidence demands it, and want to build a second-line function at a regulated FMI from a blank sheet, this is worth a conversation.