Head of Counterparty Risk (1st Line)

Company Description

Wise is a global technology company, building the best way to move and manage the world’s money. Min fees. Max ease. Full speed. Whether people and businesses are sending money to another country, spending abroad, or making and receiving international payments, Wise is on a mission to make their lives easier and save them money. As part of our team, you will be helping us create an entirely new network for the world's money. For everyone, everywhere.

Job Description

As the Head of Counterparty Risk (1st Line), you will lead efforts in managing and overseeing Counterparty Risk on a global scale, serving as the first line of defence. Reporting to the Corporate Treasurer, you will be a key player in ensuring that our approaches to counterparty risk management are innovative yet securely aligned with our risk appetite and compliance requirements.

Your Impact:

• Framework Development: Design, develop, and enhance Counterparty Risk frameworks that support product innovation while ensuring robust risk controls are in place.
• 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, making informed decisions on 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: Take ownership of and further refine the global Counterparty Risk Policy framework, ensuring alignment with business needs and risk management best practices.
• Cross-Functional Collaboration: Work alongside 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 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.

Additional Information

For everyone, everywhere. We're people building money without borders — without judgement or prejudice, too. We believe teams are strongest when they are diverse, equitable and inclusive. We're proud to have a truly international team, and we celebrate our differences. Inclusive teams help us live our values and make sure every Wiser feels respected, empowered to contribute towards our mission and able to progress in their careers.