Chief Risk Officer

Asia Digital Exchange; Singapore; On-site; SGD 200,000 - 350,000; Full time

Job summary

A financial market exchange in Singapore is seeking an experienced Chief Risk Officer to lead the risk management function. The ideal candidate will have over 15 years of experience in finance and a deep understanding of both traditional and digital assets. This role involves overseeing the risk management framework and liaising directly with the Board on risk matters. Strong background in regulatory compliance and stakeholder management is essential.

Qualifications

• Minimum of 15 years of experience in traditional finance and digital assets.
• Experience in managing market, credit, liquidity, and operational risk.
• Strong understanding of VaR modelling and risk indicators.

Responsibilities

• Lead the overall risk management framework at the Exchange.
• Ensure independence of the risk management function.
• Report risk matters directly to the Board.

Skills

Financial risk management

Regulatory compliance

Leadership

Stakeholder management

Attention to detail

Education

Bachelor's Degree in Finance, Business or related field

Job description

Position Summary

The Chief Risk Officer (CRO) is a Senior Executive responsible for the effective independent oversight of AsiaNext Exchange’s risks, under the direction of the CEO and the Board of Directors. The CRO’s primary responsibility is to maintain and enhance the risk management framework with appropriate tools for the measurement, reporting and control of AsiaNext’s financial and non-financial risks. The CRO, working with the CEO and BOD, will follow through the risk appetite framework (as per the Board’s stated risk tolerance) expressed in a limit structure for all Exchange services. The CRO will also monitor risk-taking activities on the Exchange platform by its participants and report adherence to limits to the Risk Management Committee. The CRO will report to the CEO while having access to the Board directly, is also a member of the Executive Committee (EXCO).

In this position, you will be responsible to lead the risk management function at the Exchange to:

• Provide the overall leadership, vision, and direction for risk management
• Maintain and enhance an integrated risk management framework for all aspects of risks across the Exchange
• Maintain and adapt our risk management policies, including the quantification of the Exchange’s risk appetite through specific risk limits
• Implement a set of risk metrics and reports, including losses and incidents, key risk exposures, and early warning indicators
• Allocate capital to exposures based on risk, and optimize the Exchange’s risk portfolio through business activities and risk transfer strategies
• Improve the bank’s risk management readiness through communication and training programs, performance measurement and incentives, and other change management programs
• Develop the analytical, systems and data management capabilities to support the risk management program

Responsibilities

Key Responsibilities include, but are not limited to the following list and may vary during your employment based on the needs of the business, as determined by the CEO:

• As Head of exchange-wide risk management, the CRO will be responsible for the overall risk management framework and practices at the Exchange. This includes assessing the creditworthiness of participants at the Exchange and setting appropriate trading and credit limits for their transactions, as well as any settlement risk arising from the Exchange acting as a central counterparty on a post trade basis, and how this risk can be mitigated such that the residual risk is within the risk appetite and capacity of AsiaNext
• To maintain independence of the risk management function, the role of the CRO shall not have any business or revenue generation responsibilities
• The CRO shall also have a direct reporting responsibility to the Board in reporting the risk agenda and advising and responding to the Board on all risk matters
• The CRO shall be a member of all important Senior Management committees including the Executive Committee (EXCO), Risk Committee (which he chairs). New Product Committee and any other management level committees that may be formed from time to time and that have relevance from the perspective of risk management
• The CRO will maintain and adapt the overall risk framework and policy, and ensure a holistic and integrated risk management between the various functions HR, Operations, Technology, Finance, Compliance, Commercial, so as to monitor and ensure proper deployment of risk controls within the functions to address the various risks (market, credit, operational, legal and compliance, reputational)
• Implement proper working of operational risk controls including risk review and upgrade, risk identification, loss event management, risk library development, product line mapping, Control Risk Self-Assessment (CRSA), the development and monitoring of KRIs (Key Risk Indicators), regulatory and economic risk capital computation, and mitigation strategies
• Monitor and ensure proper oversight of market risk including market risk assessment and measurement tools and models for market and liquidity risks, risk monitoring and reporting dashboards, systems, capital computation and mitigation strategies
• Act in a timely manner to ensure effective management, and where necessary mitigation.

Qualifications And Experience

For effective execution of the functions of a CRO, the candidate must ideally have strong functional experience, exposure to regulatory interactions, strong technology orientation, and a keen eye for detail. He/ she must be a team player with Vision who can share and shape the destiny of the Exchange’s vision. Must be able to develop and articulate insights and mentor the team in alignment with the Exchange’s Vision.

• Bachelor’s Degree in Finance, Business or related field
• (Financial) Risk Management experience in market risk, credit risk, liquidity risk, and operational risk, preferably in capital markets and exchanges.
• Possess at least 15 years of working experience in traditional finance and digital assets.
• Good understanding of VaR modelling, risk factors/indicators and stress tests
• Strong understanding of MAS (or G7 countries) regulatory compliance requirements. Knowledge in global regulatory environment/practices is preferred
• Good understanding of traditional financial products (FX, Equities, Bonds, Derivatives, Commodities) and Digital Assets (Cryptos, Stablecoins, Loans, NFTs)
• Experience in managing stakeholders like BOD and institutional shareholders is necessary