Chief Risk Officer
Private Bank – Luxembourg
About the Opportunity
Our client is an established international private banking institution currently building its Luxembourg platform as part of a broader strategic expansion. We have been mandated to identify a Chief Risk Officer (CRO) to help shape and build a new local operation from the ground up.
This is a foundational leadership appointment with ownership of the Risk Management Function, combining strategic oversight with hands-on execution. The successful candidate will play a central role in designing the Bank's risk governance framework, embedding a strong risk culture, and ensuring that robust risk management practices are integrated into every aspect of the organisation from its inception.
The role offers a rare opportunity to join at the beginning of a greenfield journey and leave a genuine imprint on the creation of a new banking platform in Luxembourg.
The Role
The Person
Essential Experience
Personal Attributes
What’s on offer
This is a critical leadership role within a developing Luxembourg platform, offering direct exposure to senior management and governance bodies. The position provides the opportunity to shape the Risk Management function from the ground up and play a key role in supporting the Bank's sustainable growth within a robust governance and regulatory framework.
If you are interested in this position or would like to discuss other roles that we are currently recruiting for, please forward your CV in English.
Private Bank – Luxembourg
About the Opportunity
Our client is an established international private banking institution currently building its Luxembourg platform as part of a broader strategic expansion. We have been mandated to identify a Chief Risk Officer (CRO) to help shape and build a new local operation from the ground up.
This is a foundational leadership appointment with ownership of the Risk Management Function, combining strategic oversight with hands-on execution. The successful candidate will play a central role in designing the Bank's risk governance framework, embedding a strong risk culture, and ensuring that robust risk management practices are integrated into every aspect of the organisation from its inception.
The role offers a rare opportunity to join at the beginning of a greenfield journey and leave a genuine imprint on the creation of a new banking platform in Luxembourg.
The Role
- Lead the design, implementation, and continuous enhancement of the Bank's Risk Management Framework in line with Luxembourg regulatory requirements, EU banking regulations, and Group policies.
- Define, implement, and monitor the Bank's risk appetite framework, ensuring effective oversight across all material risk categories.
- Develop and maintain comprehensive risk management policies, methodologies, and reporting frameworks supporting sustainable business growth.
- Oversee the identification, assessment, monitoring, and mitigation of risks arising from the Bank's activities, including lending, underwriting, derivatives exposure, operational, reputational, ICT and cyber risks.
- Act as the primary point of contact for supervisory authorities, auditors, the Board of Directors, and Board Committees on all risk management matters.
- Advise senior management and governance bodies on risk-related matters, strategic initiatives, and regulatory developments impacting the Bank.
- Support strategic business initiatives by providing independent risk assessments on new products, services, operating model changes, and entity structuring decisions.
- Oversee the quality of the Bank's lending portfolio, including credit risk monitoring, credit review processes, and early identification of deteriorating exposures.
- Lead the oversight of distressed and non-performing assets, working closely with relevant stakeholders to develop and implement appropriate resolution strategies.
- Assess the effectiveness of the Bank's governance arrangements, central administration, and internal control framework from a risk management perspective.
- Coordinate closely with Compliance and other control functions to ensure regulatory requirements, conduct risk considerations, and internal control expectations are appropriately addressed.
- Maintain high-level oversight of Data Protection governance, ensuring appropriate coordination with relevant stakeholders.
- Prepare and deliver regular risk reporting to the Board of Directors and relevant committees.
- Promote a strong risk culture through effective governance, communication, and engagement across the organisation.
The Person
Essential Experience
- 10+ years of experience in Risk Management within the financial services sector, ideally in Private Banking or Wealth Management.
- University degree in Finance, Risk Management, Business Administration, Economics, Law, or a related discipline.
- Professional risk management qualifications are considered a strong asset.
- Strong knowledge of Luxembourg and EU banking regulatory frameworks, including CSSF requirements, credit risk, operational risk, governance, ICT/cyber risk, and AML/CFT expectations.
- Proven experience in designing and implementing enterprise risk management frameworks, risk appetite frameworks, and governance structures.
- Demonstrated expertise in credit risk management, loan portfolio oversight, exposure approvals, and distressed asset management.
- Experience interacting with regulators, auditors, Boards of Directors, and senior governance committees.
- Familiarity with Private Banking and Wealth Management products, complex client structures, cross-border activities, and associated risk considerations.
- Experience coordinating with Compliance and other control functions within a regulated banking environment.
- Fluent in English; French or German would be considered an asset.
- Personal Attributes
Personal Attributes
- Strong leadership presence with the ability to operate independently and influence at senior levels.
- High integrity, sound judgement, and a strong sense of accountability.
- Hands-on, pragmatic approach with the ability to balance strategic oversight and operational execution.
- Excellent stakeholder management and communication skills across all levels of the organisation.
- Resilient and adaptable, with the ability to operate effectively in a growing and evolving environment.
- Collaborative mindset with the ability to foster trust and a strong risk culture.
What’s on offer
This is a critical leadership role within a developing Luxembourg platform, offering direct exposure to senior management and governance bodies. The position provides the opportunity to shape the Risk Management function from the ground up and play a key role in supporting the Bank's sustainable growth within a robust governance and regulatory framework.
If you are interested in this position or would like to discuss other roles that we are currently recruiting for, please forward your CV in English.
Greenfield is a specialist talent advisory firm supporting leadership teams across Luxembourg’s financial, professional services, and corporate ecosystem, addressing complex hiring challenges through judgement, execution, and long-term partnership.
- Pagosa Building, Bloc C
153-155, rue du Kiem
L-8030 Strassen, Luxembourg
