Chief Risk Officer


About the job

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ABOUT AsiaNext (Asia Digital Exchange)

Asia Digital Exchange (AsiaNext) envisions to become a regulated market infrastructure in Asia to offer a fully integrated end to end trading, settlement and custody service for digital assets. The joint venture between SIX Digital Exchange ("SDX") and SBI Digital Asset Holdings Co., Ltd. will provide a safe environment to issue, trade and custodies digital assets as well as enable the tokenization of existing securities and non-bankable assets to make previously untradeable assets tradeable.

AsiaNext is set to directly target the institutional demand or trading cryptocurrency assets, as well as the growing demand for public and private regulated digital assets and securities. It will leverage the extensive networks of SIX Digital Exchange in Switzerland and Europe, and SBI in the Asian marketplace, as well as their joint expertise in facilitating Institutional clientsโ€™ needs. Both SIX and SBI have demonstrated leadership in digital asset markets globally through several previously launched initiatives in the space.

Position Summary

The CRO is a senior executive responsible for the effective independent oversight of AsiaNext Exchangeโ€™s risks, under the direction of the Board of Directors. The CROโ€™s primary responsibility is to develop and implement a risk management framework with appropriate tools for the measurement, reporting and control of AsiaNextโ€™s financial and non-financial risks. The CRO, with input from the CEO and management, will develop a risk appetite framework (as per the Boardโ€™s stated risk tolerance) expressed in a limit structure for all Exchange services. The CRO will also monitor risk-taking activities on the Exchange platform by its participants and report adherence to limits to the Risk Management Committee.

The CRO will report to the CEO while having access to the Board directly. The CRO is a member of the Executive Committee (EXCO).


In this position, you will be responsible to lead the risk management function at the Exchange.

The CRO Will
  • Provide the overall leadership, vision, and direction for risk management
  • Establish an integrated risk management framework for all aspects of risks across the Exchange
  • Develop risk management policies, including the quantification of the Exchangeโ€™s risk appetite through specific risk limits โ–ช Implement a set of risk metrics and reports, including losses and incidents, key risk exposures, and early warning indicators
  • Allocate capital to exposures based on risk, and optimize the Exchangeโ€™s risk portfolio through business activities and risk transfer strategies
  • Improve the bankโ€™s risk management readiness through communication and training programs, performance measurement and incentives, and other change management programs
  • Develop the analytical, systems and data management capabilities to support the risk management program.

Key Responsibilities include, but are not limited to the following list and may vary during your employment based on the needs of the business, as determined by the CEO
  • As Head of exchange-wide risk management, the CRO will be responsible for the overall risk management framework and practices at the Exchange. This includes assessing the creditworthiness of participants at the Exchange and setting appropriate trading and credit limits for their transactions, as well as any settlement risk arising from the Exchange acting as a central counterparty on a post trade basis, and how this risk can be mitigated such that the residual risk is within the risk appetite and capacity of AsiaNext.
  • To maintain independence of the risk management function, the role of the CRO shall not have any business or revenue generation responsibilities.
  • The CRO shall also have a direct reporting responsibility to the Board in reporting the risk agenda and advising and responding to the Board on all risk matters.
  • Interaction between the CRO and the Board should occur regularly and be documented adequately.
  • The CRO shall be a member of all important senior management committees including the Executive Committee (EXCO), Risk Committee (which he chairs). New Product Committee and any other management level committees that may be formed from time to time and that have relevance from the perspective of risk management.
  • The CRO will develop the overall risk framework and policy, and ensure a holistic and integrated risk management between the various functions HR, Operations, Technology, Finance, Compliance, Product, Commercial, so as to monitor and ensure proper deployment of risk controls within the functions to address the various risks (market, credit, operational, legal and compliance, reputational)
  • Implement proper working of operational risk controls including risk review and upgrade, risk identification, loss event management, risk library development, product line mapping, Control Risk Self-Assessment (CRSA), the development and monitoring of KRIs (Key Risk Indicators), regulatory and economic risk capital computation, and mitigation strategies.
  • Monitor and ensure proper oversight of market risk including market risk assessment and measurement tools and models for market and liquidity risks, risk monitoring and reporting dashboards, systems, capital computation and mitigation strategies.
  • Monitor and ensure proper development, execution and monitoring of the Internal Capital Adequacy Assessment Process (ICAAP), and its deliberation in the Risk Management Committee and BoD.
  • Receive reports and ensure the development, integration and maintenance of all IT systems and applications related to risk management, in conjunction with Head of IT Security and CTO.
  • Monitor the integrity of risk measurement techniques and MIS that are used to monitor the Exchangeโ€™s risk profile relative to its risk appetite.
  • Act in a timely manner to ensure effective management, and where necessary mitigation.
Key Competencies: Skills, Knowledge and Ability
  • Risk Control mindset: Should show mastery of risk disciplines at a exchange-wide and integrated level, risk processes, tools and techniques, capital management, risk-related regulations and compliance.
  • Technical Knowledge: Should have a strong understanding of statistics and quantitative data analysis methods. Should have an understanding of different risk management related IT/software applications.
  • Keen business acumen โ€“ Business and financial judgment, and problem-solving skills are crucial requirements.
  • Strong process orientation โ€“ A strong understanding of banking processes and operations.
  • Intellectual curiosity and analytical approach to work
  • Ability to influence a culture of risk awareness in the organization.
  • Independent thought leadership to strategic decisions and debate
  • Ability to lead and exercise authority through expertise, and experience, showing both strategic and operational understanding of the business model.
  • Strong big-picture and strategic orientation yet detail focused.
  • Strong sense of collaboration and ability to develop positive relationships with key business stakeholders and demonstrate respectful, constructive negotiating skills.
  • Leadership ability to inspire and motivate others to perform well through continuous feedback.
  • Excellent written and oral communication skills, with proven ability to present and explain complex information and suggest process improvements to a diverse audience including Senior Management and the Board.
  • Required Education and Experience
  • For effective execution of the functions of a CRO, the candidate must ideally have strong functional experience, exposure to regulatory interactions, strong technology orientation, and a keen eye for detail. He/ she must be a team player with Vision who can share and shape the destiny of the Exchangeโ€™s vision. Must be able to develop and articulate insights and mentor the team in alignment with the Exchangeโ€™s Vision.
  • Bachelorโ€™s Degree in Finance, Business or related field
  • Masterโ€™s Degree, FRM or other advanced certification preferred.
  • Strong understanding of MAS (or G7 countries) regulatory compliance requirements. Knowledge in global regulatory environment/practices is preferred.
  • Good understanding of traditional financial products (FX, Equities, Bonds, Derivatives, Commodities) and Digital Assets (Cryptos, Stablecoins, Loans, NFTs)

Desired Skills and Experience

Analytical Approach, Credit Risk Management, Market Risk, Oral Communication Skills, Derivatives, Risk Assessment, Modeling, CRO, Tolerance, Data Management, Risk Management, quantitative risk modelling, Quantitative Finance, Statistics analysis, financial products, Bonds, Banking, Operational Risk, Capital, Equities

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