Risk Manager

Location: Limassol, Cyprus
Company: CMC Markets Cyprus
Department: Risk Management

CMC Markets is a leading global provider of online trading and investment services, with an established international presence and a strong reputation for financial innovation, technology and market expertise.

As part of our continued European expansion, we are seeking an experienced Risk Manager to play a pivotal role in establishing, developing and overseeing the risk management function of CMC Markets Cyprus.

This is a senior opportunity combining strategic risk oversight, regulatory responsibilities and hands-on risk management within a CySEC-regulated investment firm.

The successful candidate will be responsible for developing and maintaining a comprehensive risk management framework, monitoring the firm's financial and non-financial risk exposures, and ensuring alignment with applicable CySEC and European regulatory requirements.

Working closely with Group Risk, Trading, Dealing, Compliance, Finance, Technology and Operations, you will play a key role in establishing a robust and scalable risk management environment supporting the long-term development of CMC Markets Cyprus.

Key Responsibilities

• Lead the development, implementation and ongoing maintenance of the risk management framework for CMC Markets Cyprus.
• Establish and maintain appropriate risk management policies, procedures, controls and reporting structures.
• Ensure the framework is aligned with the firm's business model, risk appetite, Group Risk standards and applicable regulatory requirements.
• Identify, assess, monitor and report material financial and non-financial risks across the business.
• Develop and maintain risk appetite metrics, risk limits and key risk indicators.
• Conduct periodic risk assessments and recommend appropriate risk mitigation measures.
• Provide independent risk oversight and challenge to business functions and management.
• Support the development of risk governance arrangements and reporting to senior management and the Board.
• Monitor and assess the firm's exposure to market, credit, liquidity and counterparty risks.
• Monitor concentration risks and exposure limits across counterparties, products and trading relationships.
• Develop and maintain appropriate stress-testing and scenario-analysis methodologies.
• Work closely with Trading, Dealing and Treasury to identify emerging risks and recommend appropriate mitigation measures.
• Ensure effective monitoring and escalation of material risk exposures, limit breaches and exceptional market events.
• Oversee risk monitoring relating to client trading activity, margin requirements, leverage and account exposures.
• Ensure risk management practices remain aligned with applicable CySEC requirements and the European regulatory framework, including IFR/IFD.
• Work with Finance and Compliance on risk-related aspects of regulatory capital adequacy, liquidity and prudential reporting.
• Contribute to internal capital and risk assessment exercises, including the ICARA process where applicable.
• Prepare and review risk management reports and regulatory submissions within the remit of the risk function.
• Monitor regulatory developments and assess their implications for the firm's risk management framework.
• Support CySEC inspections, internal and external audits and regulatory information requests.
• Identify, assess and monitor operational risks across business activities, systems and processes.
• Monitor operational incidents, control failures, risk events and emerging vulnerabilities.
• Work closely with Technology, Compliance and Operations to assess ICT, cybersecurity and business continuity risks.
• Support risk oversight relating to outsourced functions, third-party providers and critical operational dependencies.
• Contribute to ICT and operational resilience risk assessments in line with applicable regulatory requirements, including DORA where relevant.
• Prepare and present regular risk reports, dashboards and management information to senior management and relevant governance bodies.
• Promote a strong risk-aware culture throughout the organisation.
• Play a central role in establishing and developing the risk management function of CMC Markets Cyprus.
• Implement appropriate local risk policies, controls, reporting processes and governance arrangements.
• Coordinate with Group Risk to ensure integration with CMC Markets' broader European risk management framework.
• Participate in cross-functional regulatory, operational and technology projects.
• Identify opportunities to improve risk monitoring systems, reporting capabilities and internal controls.

Candidate Profile

Essential Qualifications & Experience

• Minimum 7 years of relevant experience in risk management, including experience leading risk functions, within a CySEC-regulated financial services environment.
• Previous experience within the CFD, FX brokerage or investment services industry is strongly preferred.
• CySEC Advanced Certificate is mandatory.
• University degree in Finance, Economics, Mathematics, Risk Management or another relevant discipline.
• Strong understanding of CySEC regulatory requirements, MiFID II and the applicable European prudential framework, including IFR/IFD.
• In-depth knowledge of financial risk management, particularly market, credit, liquidity, counterparty and operational risks.
• Strong knowledge of OTC financial products, especially CFDs and margin FX.
• Solid understanding of trading risk, leverage, margin requirements, exposure management, hedging arrangements and liquidity risk.
• Demonstrated experience implementing and maintaining risk management frameworks, policies and internal controls.
• Experience preparing risk assessments, management reports and regulatory documentation.
• Excellent command of English, both written and spoken.

Preferred Experience

• Previous experience as a Risk Manager, Head of Risk or senior risk officer within a CySEC-regulated investment firm.
• Experience establishing or developing risk management functions within newly regulated entities.
• Familiarity with transferable securities, cash equities and/or crypto-assets.
• Experience with financial risk modelling, stress testing, scenario analysis and prudential risk assessment.
• Knowledge of ICT risk, operational resilience, outsourcing risk and relevant European regulatory requirements.
• Experience with trading platforms, risk monitoring systems, reporting tools and exposure management technologies.
• Exposure to multi-jurisdictional financial services operations and international Group structures.
• Experience supporting regulatory applications, organisational changes and strategic business projects.
• An MSc or relevant professional risk management qualification would be an advantage.

Personal Attributes & Leadership Skills

• Strong leadership capabilities, with the confidence and credibility to influence senior management and operate effectively at Board level.
• Highly analytical, commercially aware and capable of exercising sound independent judgement.
• Proactive, pragmatic and solution-oriented, with a hands-on approach to risk management.
• Strong understanding of the balance between commercial objectives, regulatory requirements and prudent risk management.
• Excellent attention to detail, with the ability to identify, assess and communicate complex risks.
• Ability to constructively challenge business decisions and provide independent risk perspectives.
• Comfortable working independently and collaborating across international teams.
• Proven ability to manage complex projects and build processes and frameworks from the ground up.

Why Join CMC Markets?

This opportunity offers the chance to take a leading role in a strategically important European project within an established global financial services group.

You will have the opportunity to shape the risk management framework of our Cyprus business from its early stages, work closely with international senior management and contribute directly to CMC Markets' continued expansion.

We offer a competitive remuneration package, including a discretionary bonus and MEP award, together with the opportunity to make a meaningful impact within a global fintech organisation.

Equal Opportunities

CMC Markets is an equal opportunities employer. We welcome applications from suitably qualified candidates regardless of gender, sexual orientation, marital or civil partnership status, gender reassignment, race, colour, nationality, ethnic or national origin, religion or belief, disability or age.