Chief Risk Officer
Location: Cyprus
Company: Noemon Money Limited
Noemon Money Limited is a Cyprus-based Electronic Money Institution (EMI) currently undergoing approval with the Central Bank of Cyprus. The company is dedicated to providing reliable and efficient digital payment solutions, leveraging Cyprus’s position as a key link between Europe and global markets. Noemon Money prioritizes compliance with regulatory standards and aims to support businesses and individuals with secure and efficient payment services tailored to their needs.
Role Overview
The Chief Risk Officer is responsible for the Risk Management Function and runs the Risk Committee.
The focus of the Risk Management function is to manage the Company’s exposure to losses or risk and to protect the value of its assets. The Risk Management function shall include:
- Identifying and assessing the potential risk in the Company’s business (both assessing risks using a comprehensive approach and assessing risks associated with each specific client).
- Developing and executing an action plan to deal with and manage these activities that incur potential losses.
- Continuously reviewing and reporting the risk management practices after they have been put into action/operation.
The overall purpose of the risk management function is to evaluate the potential losses for the Company in the future and to take precautions to deal with these potential problems when they occur. The Risk Management function should, on a proactive basis, identify, document, and assess the risks associated with the Company’s business activities, including the development of new products and business practices, the proposed establishment of new types of business or customer relationships, or material changes in the nature of such relationships.
Risk Committee Responsibilities
The Risk Committee is formed to ensure the assessment and efficient monitoring of the risks inherent in the provision of services to Clients, as well as the risks underlying the Company’s operations. To this end, the Company shall adopt and maintain risk management policies, which identify the risks relating to the Company’s activities, processes, and systems and set its risk tolerance levels.
The responsibilities of the Risk Committee include but are not limited to:
- Scrutinizing and deciding on various risks associated with the Company’s operations.
- Formulating internal policies and measuring their effectiveness in dealing with identified risks.
- Ensuring the Company has clear policies on risk assumption, management, and awareness of all parties involved in the provision of services.
- Evaluating risk factors affecting costs, competitor pricing, and the cost-benefit ratio for services.
- Approving counterparty exposures and policy descriptions for information systems.
- Supervising and approving the Disaster Recovery Plan.
- Reviewing requests from Compliance and AML departments regarding the suspension or termination of merchants due to breaches or violations of regulations.
- Regularly reviewing merchant activities, fraud reports, and transaction monitoring, and taking appropriate action.
- Presenting findings to the Board of Directors (BoD) and making recommendations for risk management policies.
Key Requirements:
- Proven experience in risk management, particularly in financial institutions.
- Familiarity with regulatory frameworks and compliance in the financial industry.
- Strong analytical and problem-solving skills to address risk-related challenges proactively.
Mandatory Requirements:
- Experience in the field of financial markets and the risk management of a financial institution.
Application Process:
This is a full-time, on-location position based in Cyprus. Interested candidates are encouraged to apply via LinkedIn and submit their CV to admin@noemon.money.
