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 it