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BIT (formerly Matrixport) is a global digital asset financial services and infrastructure group headquartered in Singapore, managing over US$7 billion in assets and facilitating more than US$7 billion in monthly trading volume. The company offers custody, trading, asset and wealth management, liquidity and financing solutions, and tokenised real-world assets (RWA) to institutional and professional investors globally, with regulated entities across Singapore, Hong Kong, Switzerland, the United Kingdom, the United States, and Bhutan.
You will lead operational risk management for BIT Group's Major Payment Institution (MPI), Fly Wing Technologies Pte Ltd, reporting to the CEO of the MPI with dotted reporting to the Group Chief Compliance Officer. This is a strategic leadership role responsible for building and institutionalising a best-in-class risk culture, governance infrastructure, and control environment that can withstand regulatory scrutiny, support business growth, and underpin BIT's ambitions in both digital assets finance and traditional finance.
Key responsibilities include:
**Risk Framework & Governance:** Own and continuously develop the Enterprise-Wide Risk Assessment (EWRA) framework across all business lines, entities, and jurisdictions. Establish and maintain a robust risk appetite framework defining risk tolerances and embedding them into business decision-making. Develop and maintain risk framework and policies including operational risk, business continuity management, third-party risk management, model risk, artificial intelligence risk, and technology risk policies. Report on risk matters at Management Meetings, presenting risk reports and escalating material risks to the highest level.
**Risk Identification, Assessment & Monitoring:** Lead identification and assessment of risks across all business functions including technology, cybersecurity, people and conduct, process and control failures, third-party, artificial intelligence, and business continuity risks. Establish and maintain risk registers ensuring all material risks are identified, assessed, owned, and mitigated. Design and implement key risk indicators (KRIs) and risk dashboards providing real-time visibility to the CEO, Board, and senior leadership. Oversee operational loss event data collection, root cause analysis, and lessons-learned processes. Conduct periodic risk and control self-assessments (RCSA) across key business processes. Incorporate fraud risk into Group-wide risk identification and assessment, covering external fraud (account takeover, social engineering, payment fraud), internal fraud, and digital asset-specific fraud typologies (wash trading, address manipulation, API exploitation).
**Technology, Cyber, AI & Model Risk:** Ensure technology risk and cybersecurity risk are systematically identified, assessed, and managed across exchange infrastructure, custody systems, APIs, data dependencies, and cloud architecture. Oversee artificial intelligence and model risk management, ensuring all quantitative models used in risk management, pricing, and trading are subject to appropriate validation, governance, and ongoing monitoring. Assess and manage risks from AI and automation tools deployed across the Group, including model bias, explainability, and data integrity risks.
**Business Continuity & Incident Management:** Own and maintain the Business Continuity Management and Disaster Recovery framework including business impact assessments, recovery time objectives, and continuity plans for all critical functions. Lead the crisis management and incident response framework ensuring rapid, coordinated responses to operational risk events including system outages, cyber incidents, and market disruptions. Manage post-incident reviews and embed learnings into risk controls and business processes.
**Third-Party & Vendor Risk Management:** Establish and govern the third-party risk management framework covering due diligence, ongoing monitoring, and exit planning for critical vendors and counterparties. Assess operational risks from key third-party dependencies including banking API providers, custody sub-contractors, technology vendors, and data providers.
**Regulatory Engagement & Board Reporting:** Serve as the primary risk management representative in regulatory examinations, supervisory dialogues, and audit processes. Prepare and present risk management reports to the Board of Directors and Senior Management, translating complex risk data into clear, actionable governance insights. Ensure risk management framework meets or exceeds expectations of all relevant regulators.
**Requirements:**
- Bachelor's degree in Finance, Economics, Mathematics, Engineering, or a related discipline (Master's degree or MBA advantageous)
- 8-12 years of progressive experience in risk management within financial services, fintech, or digital asset environments
- Proven track record of developing or significantly enhancing risk management frameworks and policies
- Experience operating in a regulated financial institution under MAS or equivalent, with direct involvement in regulatory examinations and supervisory engagement
- Background in digital assets or financial technology strongly preferred; candidates from traditional banking with genuine interest in digital assets will be considered
- Strong knowledge of technology and cyber risk including cloud risk, API dependency risk, and exchange infrastructure risk in a digital asset context
- Familiarity with model risk management principles including validation, governance, and ongoing monitoring of quantitative models
- Strategic thinker with strong execution capability able to set risk framework direction and drive implementation across a complex, multi-entity organisation
- Analytically strong, able to design and interpret risk metrics, dashboards, and quantitative risk assessments
- Collaborative and influential, able to drive risk culture change without direct authority over all business functions
