Senior Risk Officer

Independent Trading Group (ITG), Inc.; Canada; On-site; CAD 120,000 - 180,000; Full time

Benefits offered by this job

Benefits plan

RRSP matching (opt-in)

Job summary

Independent Trading Group (ITG), Inc. is seeking a Senior Risk Officer to shape growth governance across capital, regulatory risk, and risk infrastructure. You will own the RAC framework, monitor VaR and RWA, validate models for derivatives, and report to Board and regulators.

A 10+ year background in Canadian capital markets with CIRO familiarity is required, along with experience building risk infrastructure and a strategic, hands-on leadership style.

Qualifications

• 10+ years of risk management experience at a Canadian broker-dealer or capital markets firm.
• Deep derivatives expertise: Greeks, VaR, stress testing, and model validation across options, futures, swaps.
• Hands-on structured products experience: autocallables, ELNs - payoff analysis, gap risk, hedging.
• Deep working knowledge of CIRO regulations: RAC, margin, capital adequacy, and regulatory reporting.
• Experience building or improving risk infrastructure: limit monitoring, real-time risk engines, reporting platforms.
• Quantitative proficiency: advanced Excel, Python or R, SQL, Bloomberg.

Responsibilities

• Own the RAC framework; optimize capital allocation across desks through policy and technology.
• Monitor RWA and leverage ratio impacts for derivatives and structured product inventory; lead restructuring to maintain capital buffers.
• Prepare CIRO risk reports; lead regulatory examinations and inquiries on derivatives and structured product activities.
• Track CIRO/OSC/CSA developments and assess implications for trading and risk infrastructure.
• Oversee daily risk exposures, VaR, and limits across asset classes; manage breach escalation.
• Design firm-wide stress testing program: rate shocks, vol regime shifts, liquidity events, macro tails.
• Produce scenario and reverse stress test results for Board and senior management reporting.

Skills

Derivatives expertise

Structured products

CIRO regulations

Real-time risk engines

Excel

Python or R

SQL

Bloomberg

Tools

Bloomberg Terminal

Python

R

SQL

Job description

Position Overview

Independent Trading Group (ITG) is a CIRO-registered broker-dealer providing institutional execution, market making, retail execution and trading services across equity, fixed income, and derivatives markets. The firm is in an active growth phase including the launch of new and exciting business lines. The Senior Risk Officer will help shape how that growth is governed.

Key Responsibilities

Capital & Regulatory Risk

• Own the RAC framework; optimize capital allocation across DMM, prop, and agency desks through policy and technology.
• Monitor RWA and leverage ratio impacts for derivatives and structured product inventory; drive restructuring initiatives to maintain capital buffers.
• Prepare all CIRO risk reports; lead regulatory examinations and inquiries on derivatives and structured product activities.
• Track regulatory developments (CIRO, OSC, CSA) and assess implications for trading and risk infrastructure.
• Oversee daily risk exposures and sensitivities, VaR, and monitoring limits across all asset classes holistically; manage breach escalation.
• Manage structured products risk (autocallables, ELNs, principal-protected notes): payoff, gap, correlation, and liquidity risk; partner with trading on pricing and hedging design.
• Own P&L attribution: ensure daily P&L is fully reconciled to risk sensitivities; investigate unexplained P&L.
• Validate pricing and risk models for illiquid derivatives and structured products; maintain a model inventory and independent review cadence.
• Design the firm-wide stress testing program: rate shocks, vol regime shifts, liquidity events, and macro tail scenarios.
• Produce scenario and reverse stress test results for Board and senior management reporting; identify concentration risks and recommend remediation.
• Monitor margin requirements, settlement obligations, and funding needs; manage counterparty credit limits for clearing brokers and counterparties.
• Identify and monitor operational risks across trading systems, back-office, technology, and vendor dependencies; maintain risk event log and drive remediation.
• Collaborate with technology on real-time risk infrastructure: capital allocation systems, automated limit monitoring, and intraday pre-trade controls.
• Produce daily/weekly/monthly KRI dashboards, limit utilization reports, and stress summaries for CEO, Committee, and regulators.
• Maintain and enhance the firm’s ERM framework; develop and maintain the Risk Appetite Framework and establish enterprise-wide risk limits and escalation thresholds.
• Conduct annual enterprise risk assessments; oversee risk taxonomy, risk inventories, and key risk indicators.
• Coordinate risk reporting across all business lines.
• Present enterprise risk assessments to senior management and the Board Risk Committee.

New Product & Business Risk Review

• Serve as a voting member of the New Product Approval Committee; conduct independent risk assessments of new products, services, markets, and trading strategies.
• Evaluate operational, market, liquidity, capital, technology, and compliance risks of proposed initiatives; provide risk approval recommendations prior to implementation.
• Present quarterly risk reports to the Board Risk Committee; provide annual risk appetite and enterprise risk assessments.
• Escalate material limit breaches, capital concerns, liquidity risks, and emerging threats on a timely basis.

Qualifications & Experience

Required

• 10+ years of risk management experience at a Canadian broker-dealer or capital markets firm.
• Deep derivatives expertise: Greeks, VaR, stress testing, and model validation across options, futures, swaps.
• Hands-on structured products experience: autocallables, ELNs - payoff analysis, gap risk, hedging.
• Deep working knowledge of CIRO regulations: RAC, margin, capital adequacy, and regulatory reporting.
• Experience building or improving risk infrastructure: limit monitoring, real-time risk engines, reporting platforms.
• Quantitative proficiency: advanced Excel, Python or R, SQL, Bloomberg.

Preferred

• FRM, CFA, or PRM designation (FRM + CFA combination strongly valued).
• Familiarity with futures introducing broker structures and FCM/IB clearing mechanics.
• Experience with CIRO regulatory examinations on derivatives activities.
• Exposure to DMM or proprietary trading risk frameworks; OSFI guideline awareness.

Who We Are Looking For

Independent risk authority with the confidence to challenge trading desks constructively. Strategic thinker with a hands-on operating style suited to building infrastructure in a growing firm. Exceptional communication skills — able to translate quantitative risk into clear executive narratives. High integrity, sound judgment, and executive presence for Board and regulatory interactions. Collaborative across trading, compliance, finance, operations, and technology.

What We Are Offering

A competitive salary ($120,000 - $180,000 per year, based on experience) plus bonuses, and a comprehensive benefits plan. RSP contribution matching on an opt-in basis, is also available to all senior level employees