Risk Director

Overview of the role The Risk Director is responsible for the design, ownership, and effective operation of the firm's enterprise-wide risk management framework. The role provides independent second-line oversight of all material non-financial and financial risks arising from the firm's electronic money issuance, payment services, and foreign exchange trading activities.

Regulatory compliance, regulatory interpretation, and day-to-day compliance monitoring are owned by the Compliance Director. The Risk Director works in close coordination with the Compliance Director to ensure alignment between risk appetite, regulatory expectations, and the firm's overall control environment, without duplication or conflict of accountability. A group entity will be applying for a MiFID licence in 2026, and this role will support the project and assume MiFID entity risk responsibilities when operational.

Key Responsibilities

Enterprise Risk Management

• Own and maintain the Enterprise Risk Management (ERM) framework, ensuring it remains proportionate to the firm's business model, scale, and complexity.
• Define and embed the firm's risk appetite, tolerances, and escalation thresholds, subject to Board approval.
• Ensure consistent risk identification, assessment, mitigation, and monitoring across all business activities, including payments and FX trading.
• Maintain the firm-wide risk register and oversee the operation of risk assessment methodologies.
  
  

Financial, Prudential & FX Risk Oversight

• Provide independent oversight of risks arising from FX trading activity, including market risk, liquidity risk, settlement risk, and counterparty exposure.
• Review and challenge treasury, hedging, and liquidity management arrangements, including stress testing and scenario analysis.
• Oversee prudential and financial resilience risks relevant to Electronic Money Institutions (EMIs), including capital adequacy, safeguarding risk, and wind-down planning, in coordination with Finance.
  
  

Operational & Technology Risk

• Oversee the firm's operational risk framework, including outsourcing and third-party risk, ICT risk, cyber resilience, fraud risk, and business continuity planning.
• Review material incidents and near misses, ensuring root cause analysis and remediation actions are implemented and tracked.
• Provide risk oversight of payment processing infrastructure, FX execution platforms, and critical systems.
  
  

Conduct & Reputational Risk

• Assess and monitor conduct and reputational risks arising from products, customer journeys, pricing structures, and FX execution practices.
• Support the embedding of a strong risk culture consistent with FCA principles, Consumer Duty, and Treating Customers Fairly outcomes.
• Provide risk input into product governance and new business initiatives, distinct from compliance approval.
  
  

Governance & Board Reporting

• Provide clear, independent risk reporting for the Executive Committee, Board, and Audit & Risk Committee, including emerging risks, risk appetite breaches, and stress scenarios.
• Offer effective challenge to senior management on strategic decisions, growth initiatives, and material business changes.
• Lead risk input into new product approvals, outsourcing decisions, and material change assessments.
  
  

Regulatory Interaction

• Act as the senior management contact for risk-related FCA matters, supervisory reviews, and thematic work, while deferring regulatory interpretation and compliance policy matters to the Compliance Director.
• Support regulatory submissions and reviews by providing risk assessments, scenario analysis, and management information, without assuming ownership of compliance obligations.
  
  

Leadership & Culture

• Lead and develop the Risk function, ensuring appropriate capability, independence, and resourcing.
• Promote risk awareness and accountability across first-line business functions.
• Work collaboratively with the Compliance Director, Finance Director, MLRO, and other Senior Managers to maintain a coherent and effective second-line framework.
• Line manage two team members in line with company values.
  
  

Scope and Accountability The Risk Director retains ownership of the firm's risk framework and oversight activities but is not responsible for:

• Regulatory interpretation or ownership of FCA rules.
• Day-to-day compliance monitoring, testing, or advisory activity.
• Regulatory policy drafting or maintenance.
• AML/CTF or sanctions compliance (owned by the MLRO and Compliance Director).
  
  

These responsibilities sit with the Compliance Director and MLRO, with the Risk Director retaining oversight of the risk impact of regulatory and financial crime issues.

Skills, Knowledge and Expertise

• Senior risk management experience within an FCA-regulated financial services firm, ideally an EMI, payments institution, or FX provider, with MiFID experience.
• Strong understanding of FX-related market, liquidity, and counterparty risks within a regulated environment, and knowledge of both MiFID and MiFID-exempt FX products.
• Demonstrable experience operating independently from compliance functions within a three-lines-of-defence model.
• Proven ability to engage effectively with Boards, senior management, and regulators on risk matters.
• A collaborative team player with a strong work ethic, growth mindset, and commitment to continuous improvement.
• Adaptable, resilient, and able to perform effectively under pressure
  
  

Benefits

We believe great people do their best work when they feel supported, rewarded, and empowered to grow. That’s why we offer a benefits package designed to support your career, wellbeing, finances, and life outside of work.

• Time to Recharge
• 25 days’ annual leave, plus bank holidays
• An extra day off for your birthday
• Holiday loyalty scheme rewarding long-term service
• Work abroad scheme for added flexibility
• Financial Wellbeing
• Competitive pension scheme via salary exchange
• Annual discretionary bonus scheme (eligible after probation)
• Financial education, planning & coaching platform
• Interest-free Season Ticket Loan for London travel
• Salary exchange nursery fee scheme
• Health & Wellbeing
• Life Insurance
• Healthcare platform including:
• Cashback on dental, optical & physio
• Virtual GP access
• Mental health and stress support helplines
• Additional wellbeing resources
• Family & Lifestyle Support
• Enhanced parental leave
• Cycle to work scheme
• Flexible benefits that support everyday life
• Growth & Career Development
• Career development and progression tools
• Opportunities to grow within a fast-scaling international business
• A Great Team Culture

From sporting events and pub nights to seasonal celebrations and socials, we make time to connect and celebrate together.

Diversity & Inclusion We believe that diversity and inclusion are essential to our success. We are committed to fostering a culture where everyone feels valued and respected, regardless of their background, identity or experiences. By embracing diverse perspectives and promoting equity, we aim to create an environment where all employees can perform and reach their full potential.

What’s next?

• We will review your application and come back to you as soon as possible.
• You must be eligible to work in the UK to be considered for this position.
• Full background checks will be carried out on all successful candidates.