Regulatory and Risk Lead

Employment; Muscat; On-site; OMR 25,000 - 42,000; Full time

Job summary

Employment seeks a Regulatory and Risk Lead to head the second line of defence for a greenfield financial markets infrastructure venture in Oman. You will own the enterprise risk framework, regulatory relationship, compliance, AML/CF, and information security oversight, with the aim of progressing to Head of Risk and Compliance in the Run phase.

You will design risk taxonomy, appetite, tolerances, KRI's, and governance; manage regulator engagements, inspections responses, and supervisory

Qualifications

• At least 12 years in risk, compliance roles in financial services.
• Experience as second-line risk and compliance owner at a regulated FMI or similar.
• Experience engaging with senior regulators on licensing and supervisory matters.

Responsibilities

• Design the enterprise risk framework from a blank sheet.
• Own regulator engagements and responses to inspections.
• Lead the regulatory engagement plan and supervisory reporting.
• Oversee CPMI-IOSCO compliance and information security oversight.
• Build and lead the Risk and Compliance team.

Skills

Risk management

Regulatory engagement

Regulatory reporting

CPMI-IOSCO

AML/FC controls

Education

Professional qualification (ICA/CISI/ACAMS)

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 elevate 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.