Head of Risk (Card Acquiring)

About the Client

Our client is a fast-growing European fintech startup backed by an international holding group. The company is building a next-generation card acquiring business with direct Visa and Mastercard membership, with a strong focus on the European market.

Role Overview

We are looking for a Head of Risk to build and lead the Risk function of our growing card acquiring business. This is a hands-on leadership role with ownership of merchant risk, fraud risk, card scheme compliance, and enterprise-wide risk management.

You will be responsible for developing the company’s risk framework from the ground up, setting risk appetite and controls, overseeing the full e-commerce merchant risk lifecycle, and ensuring compliance with Visa and Mastercard requirements. As an early member of the leadership team, you will work closely with senior management, Compliance/AML, Operations, Product, and Engineering and play a key role in preparing the business for launch and future growth.

Key Responsibilities

• Build and lead the Risk function, developing risk policies, procedures, controls, risk appetite and monitoring frameworks as the company launches and scales.
• Own the end-to-end merchant risk lifecycle for the card acquiring business, including underwriting, onboarding, risk classification, ongoing monitoring and offboarding.
• Define merchant risk ratings, transaction limits, reserves and settlement conditions, including frameworks for higher-risk merchants.
• Ensure compliance with Visa and Mastercard scheme requirements, including MCC rules, VAMP, ECP/EFM, MATCH, VMSS and related remediation processes.
• Oversee merchant fraud, chargebacks and transaction risk, identify emerging risk patterns and make decisions on mitigation, restrictions, holds or merchant termination.
• Own the company’s enterprise-wide risk management framework, including EWRA, risk register, control mapping, KRIs and regular risk reporting.
• Work closely with AML/Compliance, Operations, Product and Engineering to ensure financial crime and operational risks are appropriately identified, escalated and controlled.

Requirements

• 4+ years of experience in risk, merchant underwriting, merchant onboarding, fraud, or payments risk within a card acquirer, Payment Institution, or EMI.

• At least 1+ year of direct hands-on experience in card acquiring, with a strong understanding of the merchant risk lifecycle.

• Strong practical knowledge of Visa and Mastercard scheme rules, MCC classifications, merchant underwriting, fraud and chargeback monitoring.

• Hands-on experience with card scheme risk programmes and controls, including VAMP, ECP, EFM, MATCH, VMSS, and related remediation processes.

• Experience with e-commerce merchant risk, including high-risk merchants.

• Strong understanding of AML/CTF and financial crime risks.

• Languages: English C1 is required, Russian C1 is preferred

• Experience in fintech

• Preferred:

  • Previous experience building or significantly developing a Risk function within a startup, EMI, PI, or acquiring business.
  • Experience working within a regulated financial institution under Latvijas Banka or another EU financial regulator.

Key Soft Skills

• Strong analytical skills with the ability to identify patterns and anomalies in transaction data.
• Good attention to detail and clear documentation skills.
• Comfort in working independently and making decisions.
• Ability to collaborate effectively with different teams.
• Strong communication skills for reporting and escalation.

What We Offer

• Competitive salary aligned with experience
• Fast-track career growth with the opportunity to progress to Risk Director
• Collaborative and transparent team culture
• High-impact role in a scaling fintech company
• Recognition of personal milestones and achievements
• Social benefits