Overview
Associate Director of Reserve Jobs in Manama, Capital Governorate, Bahrain at AXG (Solowin Holdings)
Title: Associate Director of Reserve
Company: AXG (Solowin Holdings)
Location: Manama, Capital Governorate, Bahrain
Job Overview
AX Coin (a member of AXG) is the first and only licensed stablecoin issuer under the regulation of the Central Bank of Bahrain. We are seeking an Associate Director of Reserve who will help with all banking, financial institution, and payment rail relationships. The Associate Director of Reserve is responsible for designing and operating the banking, settlement, liquidity, and payment infrastructure that underpins AX Coin’s stablecoin issuance and payments ecosystem. This is a highly execution-focused role requiring deep understanding of transaction banking, settlement, and regulated payment flows.
Key Responsibilities
1.Banking and FI Relationship
Manage strategic relationships with custodian banks and partner financial institutions to ensure the security and efficient operation of reserve custody accounts.
2.Reserve Composition and Compliance Management
Strictly comply with Chapter 6 of the Central Bank of Bahrain CBB SIO Module to ensure full compliance of reserve assets with respect to ratings, maturities, and currencies. Establish and maintain a 1:1 integrity verification mechanism for reserve assets, and monitor daily to ensure the market value of reserve assets never falls below the total face value of stablecoins in circulation.
3.Liquidity Management and Stress Testing
Manage asset maturity structures to ensure high liquidity for real-time minting and redemption demands. Design and execute stress tests under extreme market conditions such as a redemption crunch to ensure the reserve pools resilience.
4.Yield and Risk Balance
Operate a yield-bearing stablecoin model within legal and compliance frameworks.
5.Audit, Reporting and Segregation
Work with accounting firms to complete monthly or quarterly Proof of Reserves audits. Ensure strict physical segregation of reserve assets from corporate operating funds via segregated accounts. Submit reserve asset composition reports to the Central Bank of Bahrain at the required frequency.
6.Payment Rail and Settlement Architecture
Lead the design, integration, and maintenance of fiat on-ramp and off-ramp channels. Establish and manage the connection between settlement accounts and payment partners.
7.Liquidity Flow Design and Oversight
Define and govern the fiat clearing and settlement mechanisms within the stablecoin minting and redemption processes to ensure efficient and transparent fund movement.
8.Reconciliation and Operational Coordination
Establish a three-party reconciliation mechanism among fund flows, asset flows, and on-chain data to ensure consistency between circulating supply, reserves, and in-transit funds. Act as the primary point of contact for banking and payment partners to resolve abnormal operational interruptions.
9.Regional Expansion Support
Support and expand the companys banking and payment capabilities across EMEA Europe, the Middle East, and Africa.
10.Stakeholder and Partner Management
Work closely with compliance, product, and operations teams to ensure all payment processes and reserve management activities adhere to AML, sanctions screening, and Central Bank of Bahrain regulatory requirements.
Key Requirements
1.Experience
- Industry Experience: 5+ years of relevant experience in one or more of the following areas: payments, transaction banking, treasury management, financial infrastructure; asset management, asset-liability management ALM, fixed income investment, asset custody; experience supporting regulated financial products or platforms such as stablecoins or electronic money institutions.
- Regional Experience: Experience working with financial institutions, fintechs, or regulatory bodies in Bahrain or the Middle East is preferred.
2.Professional Skills and Knowledge
Regulatory Knowledge:
- Deep understanding of the Central Bank of Bahrain CBBs stablecoin regulatory framework, particularly the SIO Module requirements for eligible reserve assets.
- Familiarity with AML and sanctions screening requirements in the payments space.
Payments and Settlement:
- Strong understanding of payment systems, settlement mechanisms, and liquidity management.
- Hands-on experience onboarding and maintaining bank partnerships and payment rails.
Investment and Risk Control:
- Familiarity with short-term fixed income investments and asset-liability duration matching.
- Capability in liquidity risk modeling and stress testing.
Reconciliation and Operations:
- Ability to design and implement complex multi-party reconciliation processes on-chain vs. bank vs. reserves.
Tools and Certifications:
- CFA, FRM, CAIA, or CAMS certification is preferred.
3.Soft Skills and Attributes
- Strong execution discipline, ability to work under pressure, communication and negotiation skills, and compliance sensitivity.
4.Must have legal authorization to work in Bahrain.
