Head of Counterparty Risk (1st Line)

Wise is a global technology company, building the best way to move and manage the world’s money. Wise is on a mission to make life easier and save money for people and businesses sending international payments. As part of our team, you will help create an entirely new network for the world's money, for everyone, everywhere.

As the Head of Counterparty Risk (1st Line), you will lead global counterparty risk management, serve as the first line of defence, and report to the Corporate Treasurer.

Your Impact

• Framework Development: Design, develop and enhance counterparty risk frameworks that support product innovation while ensuring robust risk controls.
• Strategic Partnership: Work closely with the Wise Platform team to evaluate counterparty risk implications for existing and new products, offering strategic insights and risk-aligned pricing recommendations.
• Risk Assessment: Conduct thorough evaluations of the financial strength and creditworthiness of current and potential counterparties to set credit limits and terms that align with Wise’s risk appetite.
• Data Analysis: Analyze counterparty data and financial documents to determine creditworthiness and risk exposure effectively.
• Regulatory Collaboration: Collaborate with second-line Risk and Prudential teams to ensure compliance with regulatory requirements, such as ICAAP, ICARA, ILAAP, including harm assessments and residual risk identification.
• Stress Testing: Perform comprehensive stress testing and scenario analysis to assess potential impacts on the counterparty portfolio.
• Relationship Management: Establish and maintain strong relationships with banking partners through regular reviews and risk assessments in accordance with our counterparty risk policy.
• Policy Ownership: Own and refine the global Counterparty Risk Policy framework, ensuring alignment with business needs and risk management best practices.
• Cross-Functional Collaboration: Work with Payments and Treasury Operations teams to develop and implement automated counterparty risk controls and monitoring systems.
• Subject Matter Expertise: Serve as the primary subject matter expert on counterparty risk considerations for new product expansions and initiatives.
• Reporting and Insights: Provide regular, data-driven reports and insights to senior management on counterparty risk exposures and trends, ensuring informed decision-making.
• Advisory Role: Act as a trusted advisor to the Asset and Liability Committee (ALCO) and Credit Risk Committee on counterparty risk-related decisions and strategies.

Qualifications

• Extensive experience in credit risk management within financial services or fintech.
• Strong understanding of credit risk frameworks, policies and regulatory requirements, including the Basel regulatory framework.
• Proven track record in developing and implementing risk models and controls.
• Experience in working with regulatory requirements and governance frameworks.
• Experience in IFRS 9 Expected Credit Loss modeling, Unexpected Credit Loss analysis and Basel framework compliance.
• Good understanding of analytical tools like SQL, Python or similar tools.
• Outstanding communication skills with the ability to influence stakeholders at all levels.
• Strong project management skills and ability to drive multiple initiatives simultaneously.
• Adaptable mindset with ability to thrive in a fast-paced environment.

We build money without borders—without judgement or prejudice. We believe teams are strongest when they are diverse, equitable and inclusive. We celebrate our differences and empower every Wiser to progress in their careers.