Risk Manager

Risk Manager – CMC Markets Cyprus
Location: Limassol, Cyprus
Company: CMC Markets Cyprus
Department: Risk Management
Remuneration: Up to €70,000 annually + discretionary bonus + MEP award
The Opportunity
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 Responsibilities1. Risk Management Framework & Governance
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.
2. Market, Credit, Liquidity & Counterparty Risk
Monitor and assess the firm's exposure to market, credit, liquidity and counterparty risks.
Oversee risk exposures across relevant financial instruments, trading activities and liquidity providers.
Monitor concentration risks and exposure limits across counterparties, products and trading relationships.
Assess risks associated with execution arrangements, hedging activities and liquidity providers.
Monitor liquidity conditions and potential exposure arising from market volatility or stressed market conditions.
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.
3. Trading & Client Risk Oversight
Oversee risk monitoring relating to client trading activity, margin requirements, leverage and account exposures.
Monitor client risk concentrations, trading behaviour and exposure across relevant products and asset classes.
Assess potential risks arising from volatility, liquidity disruptions and exceptional market conditions.
Review the effectiveness of trading-related risk controls, margin arrangements and escalation procedures.
Monitor exposure arising from the firm's execution and hedging arrangements.
Collaborate with Dealing and Trading teams to ensure appropriate risk management controls are maintained.
Identify emerging risks associated with new products, instruments and trading strategies.
Support the assessment of risk implications arising from changes to trading conditions, execution arrangements and product offerings.
4. Regulatory & Prudential Risk Management
Ensure risk management practices remain aligned with applicable CySEC requirements and the European regulatory framework, including IFR/IFD.
Support the firm's prudential risk assessment processes and ongoing monitoring of regulatory risk requirements.
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.
Maintain complete and accurate risk management documentation, policies and supporting records.
5. Operational, ICT & Third-Party Risk
Identify, assess and monitor operational risks across business activities, systems and processes.
Support the establishment and ongoing maintenance of an effective operational risk management framework.
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.
Review the effectiveness of operational controls and recommend enhancements where necessary.
Ensure material operational and ICT risks are appropriately documented, escalated and monitored through to remediation.
6. Risk Reporting & Board Advisory
Prepare and present regular risk reports, dashboards and management information to senior management and relevant governance bodies.
Provide clear assessments of the firm's risk profile, material exposures and emerging risks.
Escalate significant risk events, breaches and control weaknesses in a timely manner.
Support Board and senior management decision-making through independent risk analysis and recommendations.
Maintain effective communication with Group Risk and relevant control functions.
Contribute to strategic business discussions by assessing the risk implications of operational and commercial initiatives.
Promote a strong risk-aware culture throughout the organisation.
7. Business Establishment & Strategic Projects
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.
Support the assessment and implementation of new products, services and business initiatives.
Participate in cross-functional regulatory, operational and technology projects.
Provide risk management expertise in relation to changes in the firm's operating model, execution arrangements and business activities.
Identify opportunities to improve risk monitoring systems, reporting capabilities and internal controls.
Support the development of a scalable risk management framework capable of accommodating future business growth.
Candidate ProfileEssential 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 resilien

Skills
Risk Management, Documentation