We’re supporting a growing acquiring and payments business focused on international merchants, including high-risk industries such as crypto, Forex, gambling, subscription-based businesses, SaaS, and cross-border e-commerce.
We are looking for an experienced Head of Risk to lead the risk function and build a scalable risk management framework that supports sustainable business growth while protecting the company from financial, operational, and regulatory risks.
This is a strategic leadership role with significant influence over merchant onboarding, portfolio management, fraud prevention, chargeback control, and compliance with Visa and Mastercard requirements.
You will work closely with executive leadership, Compliance, AML, Operations, Finance, Sales, and Technology teams to ensure the business grows within an appropriate risk appetite while maintaining strong relationships with payment schemes and regulatory stakeholders.
Location: Riga, Latvia (hybrid)
Employment Type: Full-Time
Product: Acquiring / Payment Processing
Focus: Merchant Risk, Underwriting, Fraud Prevention & Portfolio Management
Language: Fluent English required
Compensation: Competitive, depending on experience and expertis
What You’ll Do
- Lead and develop the Risk Department, including risk analysts and monitoring specialists
- Develop and implement the company’s acquiring risk strategy
- Establish and maintain merchant risk management policies, procedures, and underwriting standards
- Make risk decisions regarding merchant onboarding, restrictions, reserve requirements, processing limits, and account termination in line with the company’s risk appetite
- Assess and approve merchants operating in high-risk industries, including cryptocurrency, Forex, CFD, gambling, betting, subscription-based businesses, SaaS, digital services, and international e-commerce
- Monitor merchant portfolio quality and proactively identify emerging financial, operational, and reputational risks
- Monitor fraud levels, chargeback ratios, transaction decline rates, and financial losses across the merchant portfolio
- Manage reserves, security deposits, rolling reserves, processing limits, and other risk mitigation measures
- Ensure compliance with Visa and Mastercard requirements, policies, and risk monitoring programmes
- Oversee participation in card scheme monitoring programmes, including VAMP, MATCH, and other related initiatives
- Collaborate closely with Compliance, AML, Sales, Operations, Finance, and Technology teams to support effective risk management across the business
- Prepare risk reporting and portfolio analysis for executive management, board members, regulators, and payment partners
- Support regulatory reviews, audits, and assessments conducted by regulators, card schemes, and external auditors
- Lead, mentor, and develop a team of risk managers, analysts, and monitoring specialists
What You Bring
- Higher education in Finance, Economics, Mathematics, Risk Management, or a related field
- 7+ years of experience in banking, acquiring, payments, fintech, or financial services
- At least 3 years of experience leading and developing risk teams
- Deep understanding of:
- Acquiring and payment processing
- Merchant underwriting and portfolio risk management
- Fraud prevention and monitoring
- Chargeback processes
- Visa and Mastercard regulations
- High-risk merchant sectors
- Experience managing international merchant portfolios and cross-border payment flows
- Strong analytical and decision-making skills with the ability to balance commercial growth and risk management
- Experience presenting risk matters to senior stakeholders and executive management
- Fluency in English
Nice to Have
- Experience working within an acquiring bank, PSP, PayFac, or EMI
- Experience interacting with regulators and international payment schemes
- Knowledge of PCI DSS and information security frameworks
- Experience building or scaling risk functions in a fast-growing payments environment
Why Join?
- Opportunity to shape and lead the risk function of a growing acquiring business
- Direct influence on merchant strategy, portfolio growth, and risk appetite
- High visibility and collaboration with executive leadership
- Exposure to international merchants and high-risk industries
- Entrepreneurial and fast-moving environment with significant ownership
- Opportunity to build scalable risk processes and make a measurable business impact
- Hybrid working model, offering flexibility while maintaining close collaboration with key stakeholders
- Stable employment under a full-time employment contract
- Health insurance after successful completion of the probation period
- Join a growing fintech at an exciting stage, where your decisions will directly influence the company’s future development
- Work alongside experienced payments, acquiring, risk, and compliance professionals in an international environment
- Competitive compensation package aligned with your experience and expertise
Interested? Let’s talk. Reach out and we’ll share more about the company, the setup, and next steps.