Head of Risk

17 hours ago

Manama, Manama, Bahrain Pay10 Global Full time 90,000 - 120,000 per year

We are currently seeking an experienced Head of Risk to join our Bahrain operations.

The Head of Risk is responsible for developing and executing Pay10 Bahrain's Enterprise Risk Management (ERM) framework, ensuring compliance with the CBB's Rulebook and supervisory expectations. The role requires leadership across regulatory, operational, technology, financial, and cyber risks, while fostering a strong risk culture and safeguarding Pay10's reputation as a trusted payment services provider in Bahrain.

KEY RESPONSIBILITIES / ACCOUNTABILITIES

Risk Governance & Framework
–

  1. Design and maintain an ERM framework aligned with
    CBB Rulebook Vol. 5
    and international standards (Basel, ISO, PCI-DSS).
  2. Define and monitor the
    Risk Appetite Framework
    , ensuring Board approval and adherence.
  3. Implement RCSA, ICAAP, stress testing, and ensure independence of the risk function.

Regulatory & Compliance Alignment
–

  1. Interpret and implement
    CBB regulations
    and supervisory directives.
  2. Lead risk-related inspections, prudential meetings, and regulatory reporting.
  3. Support the
    Board Risk Committee
    and liaise with the Audit Committee.

Operational & Technology Risk
–

  1. Oversee merchant onboarding, KYC/KYB due diligence, and fraud risk controls.
  2. Monitor transaction flows for settlement risk, chargebacks, fraud, and AML alerts.
  3. Partner with the
    CISO
    on cyber/data security, IT governance, PCI-DSS, BCP/D

Financial & Credit Risk
–

  1. Monitor exposures to banks, settlement partners, and high-volume merchants.
  2. Ensure customer fund safeguarding, liquidity monitoring, and capital adequacy.
  3. Assess financial resilience of payment accounts, instruments, and float structures.

Reporting & MIS
–

  1. Deliver timely
    risk dashboards and MIS
    to the CEO, BRMC, and CBB.Conduct scenario analysis and risk assessments for new payment products.
  2. Report breaches of risk appetite and recommend mitigation strategies.

Culture & Advisory
–

  1. Embed a
    risk-aware culture
    across the organization.
  2. Train staff on CBB expectations and evolving risk issues.
  3. Advise senior leadership on
    emerging risks
    – fintech innovations, ESG, AI/ML risks and cross-border flows.

Qualification & Experience

Academic

  • Postgraduate degree in Finance, Risk Management, Business Administration, or related field.

Professional Certifications

  • One Global Risk Credential: FRM, PRM, CRMP, or IRM Diploma.
  • One Compliance Credential: CAMS, ICA Diploma or CFE.
  • One Cybersecurity/IT Risk Credential: CISM, CISA, or CISSP

Work Experience

  • Minimum 12–15 years of risk management experience in financial services, payments, or banking.
  • At least 3-5 years in a senior leadership risk role (Head of Risk, Deputy CRO, or equivalent).
  • Demonstrated experience in:
  • CBB regulatory engagement and inspections.
  • Payment ecosystem risk (PSPs, acquirers, wallets, cross-border flows).
  • Basel/ICAAP, operational risk, cyber risk, and financial resilience frameworks.

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