Chief Risk Officer - Ireland at Virtu Financial

Dublin, County Dublin, Ireland

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Not SpecifiedCompensation

Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Financial ServicesIndustries

Requirements

Bachelors Degree in Finance, Business or related field, IRM qualifications or other risk certifications programmes also considered
Minimum of 5+ years' relevant experience in Banking or Investment Firms (e.g. investment banking, capital markets), will also consider risk consultancy and risk audit experience
Previous experience as a PCF-14 holder or similar would be advantageous
Evidence of developing and embedding an enterprise risk management framework
Ability to support and provide robust oversight and challenge to both first line of defence and senior management
Good knowledge of Irish/EU legislation relevant to the firm i.e. MIFID II, IFPR, BRRD
Evidence of managing the process to create and embed the ICARAP (ICAAP) framework
Evidence of ability to deal effectively with the firm's stakeholders i.e. Senior Management, Board, Regulators (e.g. reporting directly to the board / regulatory engagement)
Ability to work on own initiative and as part of a broader Global team of risk specialists
Specialization in Operational and/or Market risk highly desirable
Strong process orientation and excellent written and oral communications skills
Domiciled in Ireland (successful candidate outside of Ireland will be expected to relocate to work in our Dublin office)

Responsibilities

Oversight and continued development of the firm's risk framework including policies and procedures
Development and embedding of the firm's Risk Appetite (Key Risk Indicator) framework including monitoring of measures & metrics, losses and incidents, key risk exposures and early warning indicators
Engagement with business lines to identify, quantify and mitigate risks
Review, document and approve client trading limits in line with the firm's Credit and Counterparty Risk policy and procedures
Monitoring of trading activity in a second line capacity
Engagement with Senior Management and the business in a consultative business-partner capacity on all matters pertaining to risk
Liaising with the Board of Directors, local Senior Management and Group Risk to raise awareness of risk and the actions taken to mitigate and manage same
Work with the 1st Line in investigating, mitigation and reporting of risk events
Annual and periodic risk and control assessments
Controls testing, validation and quantification
Continued development, execution and monitoring of the firm's ICARAP (ICAAP) framework
Continued development, execution and monitoring of the firm's BRRD Recovery Planning framework
Liaison with other 2nd Line functions including Compliance & Group Risk as part of our broader 2nd line of defence monitoring

Skills

Key technologies and capabilities for this role

Risk FrameworkRisk AppetiteKey Risk IndicatorsCredit RiskCounterparty RiskTrading LimitsControls TestingRisk AssessmentsICAAPBRRD Recovery Plan

Questions & Answers

Common questions about this position

Is this role remote or does it require working in an office?

The role requires the candidate to be domiciled in Ireland, and a successful candidate outside of Ireland will be expected to relocate to work in the Dublin office.

What experience is required for the Chief Risk Officer position?

Candidates need a Bachelor's Degree in Finance, Business or related field, minimum 5+ years relevant experience in Banking or Investment Firms, evidence of developing an enterprise risk management framework, and good knowledge of Irish/EU legislation like MIFID II, IFPR, BRRD.

What is the salary for this Chief Risk Officer role?

This information is not specified in the job description.

What are the key responsibilities of this role?

Responsibilities include oversight and development of the risk framework, embedding Risk Appetite framework, engagement with business lines to identify and mitigate risks, monitoring trading activity, and liaison with Senior Management, Board, and other functions on risk matters.

What makes a strong candidate for this Chief Risk Officer position?

Strong candidates have previous experience as a PCF-14 holder or similar, evidence of managing ICARAP (ICAAP) framework processes, and the ability to provide robust oversight and challenge to first line of defence and senior management.

Virtu Financial

Market making and trading solutions provider

About Virtu Financial

Virtu Financial specializes in market making and trading solutions, providing services that enhance the efficiency of financial markets. The company uses advanced technology and its understanding of market structures to offer a variety of products, including execution services, liquidity sourcing, and analytics. Clients such as institutional investors and broker-dealers benefit from Virtu's ability to generate liquidity, which helps stabilize markets. A key feature of Virtu's offerings is its Open Technology platform, which supplies clients with data-as-a-service, including a library of APIs and tools to improve trading strategies. Unlike many competitors, Virtu emphasizes transparency and a comprehensive approach to trading, aiming to support clients in navigating global financial markets effectively.

New York City, New YorkHeadquarters

2008Year Founded

$194.5MTotal Funding

IPOCompany Stage

Fintech, Financial ServicesIndustries

501-1,000Employees

Benefits

Wellness Program

Gym Membership

Risks

Increased competition from firms like Citadel Securities challenges Virtu's market share.

Regulatory scrutiny on high-frequency trading may raise compliance costs for Virtu.

Cryptocurrency market volatility impacts Virtu's liquidity provision and risk management.

Differentiation

Virtu leads in electronic market making across diverse asset classes globally.

The Open Technology platform offers a robust data-as-a-service solution with extensive APIs.

Virtu's commitment to transparency and innovation strengthens its industry position.

Upsides

Growing demand for algorithmic trading boosts Virtu's market making services.

ESG investing trends increase demand for transparent trading platforms like Virtu's.

Quantum computing advancements enhance Virtu's trading algorithms and market efficiency.

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