Head of Risk

We are seeking an experienced Head of Risk to lead the Enterprise Risk Management (ERM) function of Pay10 Morocco, ensuring compliance with the regulatory framework of Bank Al-Maghrib (BAM) and national supervisory expectations.

The role requires strong leadership across regulatory, operational, financial, and technology risks, while cultivating a sound risk culture and safeguarding Pay10 Morocco’s reputation as a trusted and compliant payment services provider in the Moroccan market.

Key Responsibilities

1. Risk Governance & Framework

* Design, implement, and maintain the Enterprise Risk Management (ERM) framework aligned with Bank Al-Maghrib directives, Circular 3/W/2019, and international good practice (Basel, ISO 31000, PCI-DSS).
* Define and oversee the Risk Appetite Framework, ensuring Board approval and operational adherence.
* Lead risk identification, assessment, and monitoring processes (operational, financial, compliance, IT, and strategic).
* Ensure independence and effectiveness of the Risk function and periodic reporting to the Board.

2. Regulatory & Compliance Alignment

* Interpret and implement Bank Al-Maghrib regulations applicable to PSPs and payment institutions.
* Prepare and submit required risk and prudential reports to the regulator.
* Support the Audit & Risk Committee and coordinate with Internal Audit to maintain an effective control environment.
* Liaise with local and regional authorities on emerging risk, compliance, and prudential matters.

3. Operational & Technology Risk

* Oversee merchant onboarding, KYC/KYB due-diligence, and fraud-risk controls.
* Monitor payment flows for settlement, chargeback, and fraud risk, ensuring AML/CFT alignment per BAM Circular 1/W/2019.
* Collaborate with IT and cybersecurity teams on data protection, PCI-DSS, business-continuity, and incident-response programs.

4. Financial & Credit Risk

* Monitor exposures to banking partners, settlement intermediaries, and major merchants.
* Ensure proper fund-safeguarding mechanisms, liquidity management, and capital adequacy as required by BAM.
* Conduct counterparty and credit-risk assessments and maintain oversight of financial resilience for payment flows and float accounts.

5. Reporting & Management Information

* Produce periodic risk dashboards and reports for the CEO and Board.
* Conduct scenario analysis and stress testing to anticipate financial and operational vulnerabilities.
* Report breaches of risk appetite and recommend remedial or mitigation actions.

6. Culture & Advisory

* Embed a risk-aware culture across all functions of Pay10 Morocco.
* Train teams on BAM requirements and evolving risk trends in the fintech/payments space.
* Advise leadership on emerging risks such as digital innovation, ESG, AI/ML applications, and cross-border payment flows.

Qualifications & Experience

Academic Background

* Postgraduate degree in Finance, Risk Management, Business Administration, or Economics.

Professional Certifications

* At least one Global Risk Credential: FRM, PRM, CRMP, or IRM Diploma.
* At least one Compliance or Audit Credential: CAMS, ICA Diploma, CFE, or equivalent.
* An additional Technology/Cyber Risk certification (CISM, CISA, or CISSP) is a strong asset.

Experience

* 12–15 years of progressive experience in risk management within financial services, fintech, or banking.
* 3–5 years in a senior leadership risk role (Head of Risk, Deputy CRO, or equivalent).
* Demonstrated expertise in:
* Bank Al-Maghrib regulatory engagement and inspections.
* Payment-service risk management (acquirers, wallets, settlement networks, cross-border flows).
* Operational, financial, technology, and compliance-risk frameworks aligned with international standards.