Risk Manager, Payments (Kazakhstan)

Overview

The organization is exploring opportunities to expand its licensed payment business in Kazakhstan and the broader CIS region. This role involves building and running an independent, regulator-ready risk management function for the local licensed payment business, aligned with NBK and AFSA requirements from day one and supporting business growth.

Responsibilities

• Design, implement, and maintain the risk management framework for the local licensed payment business in line with NBK and AFSA requirements, including risk policies, procedures, and the three lines of defence model.
• Develop the risk appetite statement, risk limits, and key risk indicators, and monitor compliance on an ongoing basis.
• Identify, assess, and monitor key risks, including operational, liquidity, currency, counterparty, fraud, outsourcing, information security, and compliance risks; maintain the risk register.
• Monitor compliance with prudential norms and capital requirements, including capital adequacy, liquidity, and open currency position limits; escalate breaches or early warning signals.
• Assess counterparty risk of partner banks and other key counterparties, including risks related to the safeguarding of client funds.
• Conduct stress testing and scenario analysis, and contribute to capital and liquidity planning.
• Perform risk assessments of new products, services, and material changes, including those involving digital assets, and provide risk opinions to management.
• Maintain the operational incident and loss event database, analyze root causes, and track remediation actions.
• Oversee business continuity and operational resilience arrangements in cooperation with technology and operations functions.
• Prepare risk reports for the Board of Directors, its committees, and senior management, as well as risk-related regulatory reporting to the NBK and AFSA.
• Support regulatory inspections and internal and external audits from a risk management perspective.
• Coordinate with compliance, finance, technology, and global risk teams to align local risk practices with group standards and promote a strong risk culture.

Requirements

• Degree in finance, economics, mathematics, or a related field.
• Professional certification (FRM, PRM, CFA) is an advantage.
• 5+ years of risk management experience at a bank, payment organisation, fintech company, or other regulated financial institution.
• Strong knowledge of NBK prudential and risk management requirements for banks and payment organisations, and international risk management standards (Basel principles, COSO, ISO 31000).
• Hands-on experience with operational, liquidity, currency, and counterparty risk management, including limit setting and monitoring.
• Knowledge of the AIFC/AFSA regulatory framework is a strong advantage.
• Experience building or developing a risk management function, including policies, risk registers, and risk appetite frameworks.
• Experience preparing risk reporting for boards and regulators, and supporting regulatory inspections and audits.
• Strong analytical skills; advanced Excel required; SQL or Python is an advantage.
• Experience in crypto, digital assets, or e-money is an advantage.
• Ability to work independently and effectively with global cross-functional teams in a fast-moving environment.
• Fluent Russian and English required; Kazakh strongly preferred.

Compensation & Benefits

• Competitive salary and company benefits.

Location

• Kazakhstan (licensed payment business expansion in Kazakhstan and the broader CIS region).
• Remote-first, work-from-home arrangement (may vary depending on the nature of the role and team).