Director of Risk

Job Overview

AX Coin (a member of AXG) is the first and only licensed stablecoin issuer under the regulation of the Central Bank of Bahrain. We are seeking a Bahrain-based Director of Risk. This is a senior regulatory leadership role with direct accountability for regulatory integrity, compliance architecture, and legal governance of AX Coin. You will own all regulatory engagement, licensing, compliance frameworks, and enterprise risk management.

This role is critical to ensuring AX Coin operates at the highest regulatory standards, with strong, transparent relationships with the Central Bank of Bahrain (CBB) and other regulatory stakeholders.

• Build and continuously refine an Enterprise-Wide Risk Management Framework (ERMF) commensurate with the size, complexity, and risk profile of the business, covering operational risk, financial risk, compliance risk, technology risk, legal risk, reputational risk, and strategic risk;
• Maintain and update the Risk Register, and conduct regular stress testing and scenario analysis;
• Lead the development and implementation of the Risk Appetite Statement (RAS), ensuring all business activities remain within acceptable risk tolerance levels.

• Exercise independent risk review and substantive challenge authority over major business decisions, new project approvals, third‑party outsourcing arrangements, and key partnerships;
• Monitor company‑wide risk exposures and establish a Key Risk Indicator (KRI) system, triggering early warnings and corrective actions when limits are breached;
• Participate in strategic planning and annual budgeting, ensuring business growth targets are feasible within risk capacity.

• Serve as the company's primary point of contact with the Central Bank of Bahrain (CBB) on all risk management matters, handling regulatory inquiries and examinations;
• Ensure all regulatory submissions (including ICAAP, stress test results, etc., where applicable) are accurate, complete, and timely;
• In accordance with CBB Module FP, ensure that this position continuously satisfies the fit and proper standards of honesty, integrity, financial soundness, and competency, and that all appointment documentation is properly maintained for CBB review.

• Promote a risk‑aware culture throughout the organization through regular training, communication, and performance mechanisms;
• Lead the risk management department, overseeing recruitment, development, and succession planning.

• Supervise and execute the day‑to‑day operational execution of the risk function and manage ad‑hoc risk management matters.

• Bachelor's degree in Risk Management, Finance, Economics, Accounting, Law, or a related field;
• Professional certifications such as FRM, PRM, CRM, CRMA, or ISO 31000 are preferred.

• Minimum of 7 years of experience in risk management within a regulated financial institution, Fin Tech company, or large enterprise, with at least 3 years in a management role;
• Proven track record of establishing and operating an enterprise risk management framework in a financial corporate environment;
• Candidates with legal work experience or a legal background are preferred;
• Hands‑on experience liaising with regulatory authorities (especially the CBB or other GCC regulators) is a strong advantage.

• In‑depth knowledge of Enterprise Risk Management (ERM) frameworks (e.g., ISO 31000, COSO ERM) and risk governance best practices;
• Familiarity with the CBB regulatory framework and related compliance requirements;
• Strong analytical skills, risk reporting capabilities, and executive‑level communication skills;
• Proven leadership and influencing skills to drive risk culture change in a fast‑paced, high‑growth environment.

In accordance with the Central Bank of Bahrain's Fit and Proper Requirements (Module FP), candidates for this position are subject to a rigorous fit and proper assessment.