Job Description – Risk Management Officer


Payac is now seeking to appoint a Risk Management Officer to assume responsibility for the management of the company’s risk management system (‘RMS’).

The successful candidate will have the opportunity to work closely with senior management and play a key role in the design, development and management and oversight of the Company’s RMS. The position would suit an experienced risk professional working within the financial services sector who is looking for a challenging and rewarding role in a growing organisation.

Key Responsibilities

  • Identifying, assessing, reporting, monitoring, and managing all internal and external risks that could affect the Company, including risks to its employees, members, reputation, and assets, and assisting the Chief Compliance Officer (‘CCO’) with managing and mitigating those risks;
  • Providing a report to the Leadership Team and the Risk & Compliance Committee (‘RCC’) which provides an update on your activity, the status of the risk audit, changes to the risk register, a summary of risk events, suspected breaches of the risk management policy, progress on remedial action being undertaken; any other material issue deemed relevant by the officer and any further detail requested by the RCC;
  • Leading the updating and implementation of risk management frameworks, policies, processes, and tools;
  • Defining and leading the governance of risk frameworks and risk measurement and reporting methodologies;
  • Promoting a culture of risk management throughout the organisation;
  • Monitoring the external environmental and wider financial services sector for changes that will present environmental risks to the Company.
  • Ensure each internal/external risk of the Company is identified, assessed, reported, and monitored;
  • Reviewing and documenting any reported risk event within the credit union, including the action taken or recommended;
  • Drafting and maintaining the Risk Management System (RMS) policy and framework of the Company to be approved by the RCC on behalf of the Board;
  • Maintaining a risk register for the Company;
  • Co-ordinating, in conjunction with the CCO, remedial action in line with the risk response plan of the credit union;
  • Continuously monitoring the external environment for any changes which may materially affect the risk appetite and/or risk tolerance of the Company;
  • Communicating the risk management policy, process and roles and responsibilities Company-wide;
  • Suggesting on-going improvements to the RMS to improve the efficiency and effectiveness of the process;
  • Supporting the CCO and Leadership Team in promoting a culture of risk awareness, identification, and management at every level within the Company;
  • Performing any other reasonable task assigned by the CCO & RCC.

The successful candidate should ideally have the following attributes:

  • A minimum of 5 years’ experience working in a risk management role in a financial services organisation. A relevant qualification would be an advantage.
  • A good knowledge of the Irish financial services regulatory framework.
  • Knowledge of credit union legal and regulatory requirements would be an advantage.
  • Knowledge of the management of Third Party and Outsourcing Risk.
  • Excellent attention to detail and organisational skills.
  • Excellent interpersonal, project management and communication skills.
  • Ability to work with initiative and as part of an agile team.

Salary is commensurate with experience.

Occasional travel throughout Ireland required and work outside standard working hours.


Interested candidates should send their CV and cover letter by email to, clearly outlining the role they are applying for. Closing date for receipt of applications is 5pm on Friday 19th January 2024. Applications will not be accepted after this date and time.