Sports Governance Consultant, Intern
TRACE International, Inc.
Team Lead, Derivatives Risk Remediation
Wealthsimple
full-time
Posted on:
Location Type: Remote
Location: Remote • 🇨🇦 Canada
Visit company websiteJob Level
Senior
About the role
- Serve as the execution arm for policies set by cross-functional brokerage stakeholders.
- Close client positions and/or apply appropriate account restrictions based on single stock and broad-based stress testing metrics to ensure that client exposures are within established stress guidelines, according to established policies and procedures.
- Close client positions at the direction of the Margin Supervision team, subject to ongoing market and credit risk considerations.
- Monitor expiration risk for options and ensure that in-house automated tools remediate option exposures. Serve as a critical backup to automated tools to ensure timely redundancy measures and/or trades are placed to prevent option assignment risk.
- Work with cross functional teams to remediate any post-expiration options assignment exposures.
- Monitor early assignment risk of options and remediate exposures according to established procedures.
- Execute liquidation of short positions resulting from option assignment.
- Monitor for and remediate uncovered option positions.
- Actively monitor client portfolios for option strategies outside their approved trading levels and close positions as required.
- Liaise with cross functional stakeholders to answer any technical client questions received, including but not limited to margin requirements for complex derivatives and associated actions taken on exposure remediation.
- Create and maintain comprehensive policies and procedures for the team, ensuring documentation remains current with evolving products, regulations, and internal processes.
- Establish, track, and ensure adherence to Service Level Agreements (SLAs) for risk remediation activities, providing regular reporting on performance metrics to senior leadership.
- Draft memos and presentations to senior stakeholders when required.
Requirements
- 3-5 years of experience working in Brokerage Operations, Market Risk Management and/or Trading at a CIRO registered dealer member.
- Excellent knowledge of margin trading and complex derivative products (including option strategies and futures) and associated CIRO 5000 Dealer Member Margin Rules, gained through a combination of education and hands-on experience.
- Must currently be registered as a Supervisor with CIRO or have all the following courses completed for registration: Canadian Securities Course (CSC) or Level 1 CFA, Conduct Product Handbook (CPH), Derivatives Fundamentals Course and Options Licensing (DFOL), Futures Licensing Course (FLC), Options Supervisors Course (OPSC) and Canadian Commodity Supervisors Exam (CCSE).
- Additional designations (or working towards) such as FRM and CFA preferred.
- Strong attention to detail with ability to follow established procedures precisely and execute exposure remediation trades and redundancy measures in a timely manner.
- A keen eye for risk, escalating accordingly in a timely manner.
- Excellent communication and the ability to distill down complex information for senior stakeholder consumption.
- Ability to manage multiple priorities in a fast-paced environment, while working effectively with cross functional stakeholders.
- The ability to lead and build a team from the ground up, ensuring that they are set up for growth and success.
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
margin tradingcomplex derivativesoption strategiesfuturesexposure remediationrisk managementliquidation of short positionsmonitoring client portfoliosstress testing metricsService Level Agreements (SLAs)
Soft skills
attention to detailcommunicationability to manage multiple prioritiesteam leadershipcross-functional collaborationproblem-solvingtime managementescalation of riskdocumentationpresentation skills
Certifications
CIRO Supervisor registrationCanadian Securities Course (CSC)Level 1 CFAConduct Product Handbook (CPH)Derivatives Fundamentals Course and Options Licensing (DFOL)Futures Licensing Course (FLC)Options Supervisors Course (OPSC)Canadian Commodity Supervisors Exam (CCSE)Financial Risk Manager (FRM)Chartered Financial Analyst (CFA)