Chief Risk Officer - Fnality US

Introduction

Here at Fnality, we are powering the future of finance, together: combining best in class technology with free-flowing creativity, and expertise that can make business better for everyone. There are no precedents for what we’re doing. With you on our side, we’ll be setting new ones every day.

In a complex world, we are here to bring clarity and make positive change.

Fnality US will be the newest entity within the Fnality Global Payments ecosystem, the operator of a new regulated payment system for the United States of America.

As this is a new entity and you will be one of the initial hires in the US, you will be involved in developing and implementing the US business’s risk management framework, with support from colleagues within Fnality International until the Fnality US team is fully resourced.

The CRO Role:

Fnality US is looking for a Chief Risk Officer who can demonstrate competencies which will enable them to successfully:

• Work in a regulated environment in the financial sector, with direct accountability to regulators and the Board for the management of risk of the USD Fnality Payment System (USD FnPS)
• Build a risk culture that is embedded in every policy and process of the company (Technology, Security, Personnel, Environment etc)
• Design and implement the risk framework for Fnality US and oversee its ongoing management
• Lead Fnality US’s efforts to comply with regulatory expectations whilst maintaining the Fnality Ways of Working approach
• Attend meetings with regulators in U.S. east coast on a regular basis, some travel to the UK may be required

Over time, you will need to take accountability for

• The set-up, day-to-day running and continuous improvement of the Fnality Risk Management Framework for Fnality US. This includes the risk management model (structure and content), the risk management activities (Identification, Assessment, Evaluation and Treatment), and ongoing assessment and of controls effectiveness. It will also include oversight of Fnality US’s approach to incident management.
• The effective set-up and running of the risk governance framework within Fnality US (eg risk committee), working to build out in coordination with the other lines of defence in our three lines of defence risk management model.
• Compliance with applicable regulatory requirements on cybersecurity and operational resilience as they apply to Financial Market Infrastructures and other FMI regulatory standards.
• Reporting on the risk management of Fnality US internally (eg to the US Board and wider Fnality Ecosystem) and externally (eg to the regulators), building effective working relationships with them.
• Sharing information with other Fnality legal entities in different jurisdictions, as required, to ensure cross-jurisdiction risk management and compliance.
• In time, the management of partnership relationships in conjunction with the CEO for new use cases where USD FnPS will provide the payment leg for transactions.
• Managing resources in the Fnality Ways of Working ensuring T shaped personnel development and performance.
• Provide strategic leadership, engaging stakeholders in shaping a vision for the future direction and development of the organisation – the dimension for expansion include:
  • Participation, Use Cases, PvP settlement with other Fnality Payment Systems and DvP settlement with other business platforms.
  • Managing resources in the Fnality Ways of Working ensuring resilience, fungibility,
    development and performance of the team

Required experience

• Extensive risk management expertise in FMIs, banking or financial services gained from compliance or operational risk experience
• Senior interaction with regulators or ideally previous experience working at the Federal Reserve or other relevant regulators
• Understanding of relevant US laws and regulations applicable to FMIs
• Ability to operate at C-Suite level when dealing with the Board and external participants
• Ideally, work experience in risk management at start-ups/fintech or other fast-evolving businesses
• People management
• Understanding of wholesale payments, technology and cyber security preferred

A bit more about us

Digital transformation is changing our lives, work and businesses. While other sectors evolve however, financial markets remain slow, fragmented and siloed. What the world needs now is a future-facing financial system for the digital age.

At Fnality, we have been speaking – and listening – to the real users of today’s financial systems. From businesses to banks, there is a clear, collective ambition for a simpler, faster, safer and more resilient payment system; one that can move and settle money quickly and efficiently, with minimised risk and much more transparency.

Fnality Global Payments

We are building a new payment system that will enable tokenised, peer-to-peer markets.

Fnality Global Payments (FnGP) will comprise a series of national systems, each regulated in its home jurisdiction. We call each of these a Fnality Payment System (FnPS)

In each payment system, a Fnality settlement asset will act as the settlement/payment asset for any Payment (P), Delivery v, Payment (DvP) or payment vs. payment (PvP) need.

FnGP are underpinned by Distributed Ledger Technology (DLT).  The nature of DLT is such that it enables FnGP to:

• Operate a true peer-to-peer market
• Allow for immediate settlement
• Interoperate across business platforms and jurisdictions

The key benefits of the above are:

• Reduced counter-party and credit risk
• Reduced operational risk
• Efficient liquidity management
• An ability to move resources from risk mitigation to business growth

Eligibility

This CRO role is with the entity running the US FnPS, it is a US based role and you must be eligible to work in the US. Please note we cannot sponsor visas for this role.

How will we use the information about you?

We will use your personal information to process your application, to enable us to assess your suitability for a role and for other legitimate business purposes such as improving our sites and talent management practices. We may share your data with third parties to achieve these purposes. We will not use or share your information for marketing purposes. 

We will take appropriate security measures to safeguard your information in accordance with data protection legislation.

If you would like further information about how your information may be processed by us, please contact us at [email protected].