SVP, Chief Risk Officer - Private Client Group

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• Establishes and oversees the implementation of a risk management framework for the business unit, to include defining the business appetite for risk taking and establish appropriate controls.
• Conducts and presents regular risk reviews in order to provide an independent perspective of the business and to keep pace with the changing business environment.
• Builds trusted relationships with senior leadership, including executive management of the Private Client Group (PCG), the firm's wealth management unit, and Asset Management divisions, serving as a strategic and independent partner to evaluate, challenge, and guide business decisions.

Continuously monitors and analyzes the businesses risk profile and tolerance to include daily risk monitoring across all relevant risk stripes including market, credit, liquidity and operational risks.

• Identifies emerging risks and advises on risk mitigation strategies.
• Leads the development and implementation of risk assessment and quantification models needed to risk manage the business.
• Oversees and evolves risk reporting processes to enhance the accuracy and effectiveness of risk information.
• Ensures the business risk management practices comply with regulatory requirements and industry best practices. Also, engages with regulators to provide essential risk context.
• Reports risk-related data including risk exposure, compliance to risk policies, and effectiveness of current risk management strategies to the Board of Directors, senior management and various risk committees.
• Collaborates with the business and other key stakeholders to evaluate the risk associated with potential mergers and acquisitions, new product offerings, and other initiatives.
• Plays a central role in shaping the firm's 1LOD/2LOD risk governance model, helping define and clarify roles and responsibilities across the risk lifecycle.
• Leads and scales a growing risk team, with responsibility for hiring, developing and managing talent aligned to the evolving needs of a growing organization.
• Acts as a change agent within a transforming environment, setting strategic direction for risk management as the firm continues to deepen capabilities and platform expansion for advisors.
• Performs other duties and responsibilities as assigned.

• Advanced knowledge of risks and regulations in all aspects of the Private Client and Asset Management
• Risk assessment methodologies
• Risk governance structure and design
• Risk policy and procedures
• Infrastructure design, risk controls and segregation of duties
• Relevant risk-based regulatory schemes including Basel I and Basel II and current rules under review
• Sarbanes Oxley regulations
• Software development processes
• ISDA/CSA, and MBA documentation with the ability to provide advice on such documentation negotiation from the credit perspective
• Securities/Private Client and Asset Management products and an understanding of the market standard risk management practices
• Broker-dealer supervisory frameworks, retail investment platforms, and UHNW product risks including structured products, alternatives, and advisory platforms

• Risk operations, work processes, internal controls and banking regulations
• Excellent communication skills to clearly articulate matters while working with internal and external clients
• Planning and scheduling work to meet regulatory organizational and regulatory requirements
• Identifying and applying appropriate monitoring procedures
• Preparing oral and/or written reports
• Making rule-based and analytical decisions
• Project management skills and with experience to successfully complete long- and short-term projects
• Analytical thinking with demonstrated experience identifying and quantifying complex problems and providing effective resolutions
• Leading through change and ambiguity, and influencing cross-functional stakeholders without formal authority
• Balancing independence and collaboration in a client- and business-facing role

• Author policies, procedures, and prepare risk reports for the Executive Committee, Board of Directors, and regulatory agencies as required
• Read, analyze, and interpret complex documents
• Respond effectively to the most sensitive inquiries or complaints
• Deliver persuasive speeches and presentations on controversial or complex topics to top management, public groups, and the Board of Directors
• Apply mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry
• Apply concepts such as fractions, percentages, ratios, and proportions to practical situations
• Define problems, collect data, establish facts, and draw valid conclusions
• Effectively communicate verbally and in writing with management, customers, vendors and staff
• Perform human resource management activities
• Plan, assign, monitor, review, evaluate and lead the work of others
• Coach and mentor others

Education/Previous Experience:

• Bachelor's Degree (B.A.), preferably in Mathematics, with a minimum of fifteen (15) years of financial services experience required
• Experience in broker-dealer or wealth management firms preferred, especially with exposure to front-office or first-line risk roles in addition to second-line oversight
• Demonstrated track record building or transforming risk functions and working with UHNW advisory businesses, structured product platforms, or alternative investments is strongly preferred

If you have questions about this posting, please contact [email protected]