Chief Risk Officer Fnality Services at Fnality

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 Services performs certain functions and processes that are common across FnPS’s, are “non-core” to each FnPS’s effective and resilient operation and can be more efficiently fulfilled by one or more common service providers. Fnality Services performs these functions under contractual arrangements with each Fnality Local.

The CRO Role:

Fnality Services 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 Fnality Services
• 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 Services to ensure full compliance with regulatory expectations whilst maintaining the Fnality Ways of Working approach
• Lead, alongside the CEO, the successful operation of Fnality Services.

You will need to take accountability for

• The day-to-day running and continuous improvement of the Fnality Risk System for Fnality Services and its associated ecosystem. This includes the risk model (structure and content), the risk activities (Identification, Assessment, Evaluation and Treatment) and efficacy of mitigations. It will also include oversight of the incident management process and approach
• The effective running of the risk governance framework within Fnality Services (e.g. risk committee), working closely with the other lines of defence in our three lines of defence risk management model
• Compliance with the Operational Resilience directives from the Bank of England as they apply to Financial Market Infrastructures and broader global standards e.g. those set by BIS/FSB etc
• Reporting on the risk management of Fnality Services internally (e.g. to the Board) and externally (e.g. to the regulators), building effective working relationships with them
• Managing and monitoring the risks associated with Fnality Services to assure the level of service required
• Taking a hands-on approach to incident management analysis, staying informed, providing insight and guidance, as well as providing updates to regulators and other external stakeholders
• Facilitating the sharing and analysis of information between other Fnality legal entities in different jurisdictions, as required, to ensure cross-jurisdiction risk management and compliance
• Management of vendor and partnership relationships in conjunction with the CEO
• Managing resources in the Fnality Ways of Working ensuring T-shaped development and performance.

Required competencies:

• Extensive Risk management expertise in banking or financial services gained from compliance or operational risk experience
• Experience of building operational processes and risk management frameworks from the ground up
• Senior interaction with regulators
• Ability to operate at C-Suite level when dealing with the Board and external participants
• AGILE methodologies (preferred)
• People management
• Understanding of wholesale payments industry/settlement risk strongly 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

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 privacy@fnality.org.