Head of Risk

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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.

Responsibilities

• Risk Governance & Framework – Design and maintain an ERM framework aligned with CBB Rulebook Vol. 5 and international standards (Basel, ISO, PCI-DSS).
• Risk Appetite – Define and monitor the Risk Appetite Framework , ensuring Board approval and adherence.
• Implement RCSA , ICAAP , stress testing, and ensure independence of the risk function.
• Regulatory & Compliance Alignment – Interpret and implement CBB regulations and supervisory directives.
• Lead risk-related inspections, prudential meetings, and regulatory reporting.
• Support the Board Risk Committee and liaise with the Audit Committee.
• Operational & Technology Risk – Oversee merchant onboarding, KYC / KYB due diligence, and fraud risk controls.
• Monitor transaction flows for settlement risk, chargebacks, fraud, and AML alerts.
• Partner with the CISO on cyber / data security, IT governance, PCI-DSS, BCP / D
• Financial & Credit Risk – Monitor exposures to banks, settlement partners, and high-volume merchants.
• Ensure customer fund safeguarding, liquidity monitoring, and capital adequacy.
• Assess financial resilience of payment accounts, instruments, and float structures.
• Reporting & MIS – Deliver timely risk dashboards and MIS to the CEO, BRMC, and CBB. Conduct scenario analysis and risk assessments for new payment products.
• Report breaches of risk appetite and recommend mitigation strategies.
• Culture & Advisory – Embed a risk-aware culture across the organization.
• Train staff on CBB expectations and evolving risk issues.
• Advise senior leadership on emerging risks – fintech innovations, ESG, AI / ML risks and cross-border flows.

Qualifications & Experience

Professional Certifications

Work Experience

Seniority

Employment type

Job function

Industries

Note : This job description reflects the current requirements for Pay10 Bahrain and may be subject to change.

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