Role: Chief Risk Officer
Hiring Entity: Asia Digital Exchange Pte Ltd. (“AsiaNext”)
Location: Singapore, on-site
Job Type: Permanent role
About Us
AsiaNext is a trusted digital exchange for institutional investors in Asia and globally. It will offer integrated listing, trading, and post-trade services for digital assets, including digital payment tokens. This joint venture between SBI Digital Asset Holdings Co., Ltd. (SBI DAH) and SIX Digital Exchange (SDX) will provide an institutional-grade platform to enable the tokenization and trading of existing securities and non-bankable assets.
AsiaNext will support the growing institutional demand for trading of public and private digital assets. It will leverage the extensive networks of SBI DAH in Asia and SDX in Switzerland and Europe, as well as their joint expertise in fulfilling institutional investors’ needs. Both SBI DAH and SDX have demonstrated leadership in digital asset markets globally through multiple investments, issuances and initiatives in this space.
Why Join Us?
With SIX Group AG and SBI Digital Asset Holdings Co., Ltd. as shareholders, AsiaNext has significant financial backing supporting its mission of building the world’s first institutional-grade digital exchange for institutional investors, and fostering trust through rigorous security and compliance to regulations. The team comprises members with traditional finance, digital finance and technology background spanning decades at UBS, JPMorgan, SIX, Thomson Reuters, MAS, SGX, DBS, Citi, Credit Suisse, Barclays, securities tokens and crypto exchanges, and many others.
If you are looking to develop your career in a professional and well-run environment, yet which moves and grows rapidly, join our diverse and talented team to build the digital exchange of choice for institutional investors.
About This Role:-
The CRO is a senior executive responsible for the effective independent oversight of AsiaNext Exchange’s risks, under the direction of the Board of Directors. The CRO’s primary responsibility is to develop and implement a risk management framework with appropriate tools for the measurement, reporting and control of AsiaNext’s financial and non-financial risks. The CRO, with input from the CEO and management, will develop a risk appetite framework (as per the Board’s stated risk tolerance) expressed in a limit structure for all Exchange services. The CRO will also monitor risk-taking activities on the Exchange platform by its participants and report adherence to limits to the Risk Management Committee.
The CRO will report to the CEO while having access to the Board directly. The CRO is a member of the Executive Committee (EXCO).
Responsibilities
- As Head of exchange-wide risk management, the CRO will be responsible for the overall risk management framework and practices at the Exchange. This includes assessing the creditworthiness of participants at the Exchange and setting appropriate trading and credit limits for their transactions, as well as any settlement risk arising from the Exchange acting as a central counterparty on a post trade basis, and how this risk can be mitigated such that the residual risk is within the risk appetite and capacity of AsiaNext.
- To maintain independence of the risk management function, the role of the CRO shall not have any business or revenue generation responsibilities.
- The CRO shall also have a direct reporting responsibility to the Board in reporting the risk agenda and advising and responding to the Board on all risk matters.
- Interaction between the CRO and the Board should occur regularly and be documented adequately.
- The CRO shall be a member of all important senior management committees including the Executive Committee (EXCO), Risk Committee (which he chairs). New Product Committee and any other management level committees that may be formed from time to time and that have relevance from the perspective of risk management.
- The CRO will develop the overall risk framework and policy, and ensure a holistic and integrated risk management between the various functions HR, Operations, Technology, Finance, Compliance, Product, Commercial, so as to monitor and ensure proper deployment of risk controls within the functions to address the various risks (market, credit, operational, legal and compliance, reputational)
- Implement proper working of operational risk controls including risk review and upgrade, risk identification, loss event management, risk library development, product line mapping, Control Risk Self-Assessment (CRSA), the development and monitoring of KRIs (Key Risk Indicators), regulatory and economic risk capital computation, and mitigation strategies.
- Monitor and ensure proper oversight of market risk including market risk assessment and measurement tools and models for market and liquidity risks, risk monitoring and reporting dashboards, systems, capital computation and mitigation strategies.
- Monitor and ensure proper development, execution and monitoring of the Internal Capital Adequacy Assessment Process (ICAAP), and its deliberation in the Risk Management Committee and BoD.
- Receive reports and ensure the development, integration and maintenance of all IT systems and applications related to risk management, in conjunction with Head of IT Security and CTO.
- Monitor the integrity of risk measurement techniques and MIS that are used to monitor the Exchange’s risk profile relative to its risk appetite.
- Act in a timely manner to ensure effective management, and where necessary mitigation.
Key Competencies: Skills, Knowledge and Ability
- Risk Control mindset: Should show mastery of risk disciplines at a exchange-wide and integrated level, risk processes, tools and techniques, capital management, risk-related regulations and compliance.
- Technical Knowledge: Should have a strong understanding of statistics and quantitative data analysis methods. Should have an understanding of different risk management related IT/software applications.
- Keen business acumen – Business and financial judgment, and problem-solving skills are crucial requirements.
- Strong process orientation – A strong understanding of banking processes and operations.
- Intellectual curiosity and analytical approach to work
- Ability to influence a culture of risk awareness in the organization.
- Independent thought leadership to strategic decisions and debate
- Ability to lead and exercise authority through expertise, and experience, showing both strategic and operational understanding of the business model.
- Strong big-picture and strategic orientation yet detail focused.
- Strong sense of collaboration and ability to develop positive relationships with key business stakeholders and demonstrate respectful, constructive negotiating skills.
- Leadership ability to inspire and motivate others to perform well through continuous feedback.
- Excellent written and oral communication skills, with proven ability to present and explain complex information and suggest process improvements to a diverse audience including Senior Management and the Board.
Qualifications And Experience
- Bachelor’s Degree in Finance, Business or related field
- (Financial) Risk Management experience in market risk, credit risk, liquidity risk, counter party risk
- CCP experience
- Crypto Currency and Blockchain experience
- Good understanding of VaR modelling, risk factors/indicators and stress tests
- Preferably with experience working in a start up
- Strong understanding of MAS (or G7 countries) regulatory compliance requirements. Knowledge in global regulatory environment/practices is preferred.
- Good understanding of traditional financial products (FX, Equities, Bonds, Derivatives, Commodities) and Digital Assets (Cryptos, Stablecoins, Loans, NFTs)
Employment Benefits
- Competitive staff benefits - 21 days annual leave, life insurance, and medical insurance (includes dependents)
- Variable bonus and long-term incentive program
How to Apply
If you are ready to take up a new challenge in a dynamic and fast-growing platform, please send your resume to [email protected], stating your name and title of the position applied for in the subject line.
Only shortlisted candidates will be contacted for further discussion. All personal data collected will be kept strictly confidential for recruitment purpose only.
AsiaNext is an Equal Opportunity Employer. We do not discriminate on the basis of race, religion, colour, sex, gender identity or expression, sexual orientation, age, non-disqualifying physical or mental disability, national origin, or any other basis covered by appropriate law.
Disclaimer
Asia Digital Exchange Pte Ltd (“AsiaNext”) would like to inform you that all our job vacancies are published on our official company website and LinkedIn page. AsiaNext uses only the following reputable third-party job sites – MyCareersFuture, LinkedIn, Jobstreet and Indeed. We advise prospective candidates to exercise caution and not apply for or share personal information for any job posting with any unauthorised sources.
