Vice President, Clearing and Service Risk Management

Ameriprise Financial Services, LLC; Minneapolis (MN); On-site; USD 151,000 - 251,000; Full time

Job summary

A leading financial services firm is seeking a Vice President for Clearing and Service Risk Management. This role involves strategic leadership in risk management, ensuring compliance with regulations, and overseeing trading operations. The ideal candidate will have extensive experience in financial services and strong leadership skills.

Benefits

Health Insurance

401(k)

Vacation Time

Sick Time

Qualifications

• 10+ years of work experience in financial services with risk or control functions.
• Strong understanding of regulations impacting clearing broker-dealers.

Responsibilities

• Oversee risk functions of the Clearing Broker-Dealer specific to Trading and Operations.
• Ensure adherence to regulatory requirements and manage risk programs.

Skills

Leadership

Risk Management

Compliance

Education

Bachelor's Degree

Job description

Vice President, Clearing and Service Risk Management

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Vice President, Clearing and Service Risk Management

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Mitigate client and firm risk from an operational, compliance, financial, and regulatory risk perspective. Provide strategic leadership and oversight of Service & Operations with a specific focus on the functions within Trading and Operations control to ensure the organization meets all regulatory, compliance, and risk related business requirements through ensuring proper policy, procedures, and controls. This role will be responsible for adherence and management of risk programs set by the second and third Lines of Defense (LOD) risk and control organizations. Provide leadership, training, and coaching to team.

Key Responsibilities

Oversee and manage risk functions of the Clearing Broker-Dealer specific to Trading (i.e., Fixed Income and Equity Trading) and Operations. This includes functions such as: customer protection rule, treasury reporting, counterparty reviews, mark-up/mark-down, execution quality, etc.

Management of key control and governance functions such as Consolidated Audi Trail (CAT), trading committees, general ledger reconciliations, TRACE/MSRB transaction reporting, trading activity fees, etc.

Monitoring of pending and approved regulatory changes with impacts to Trading and Operations. Partner with Business Lines and Compliance to ensure readiness, secure funding, implement controls, etc.

Ensure all required testing, audits, regulatory examinations/inquiries, etc. are completed on time and issues are escalated to second and third Line of Defense programs as required. This also includes day to day management of issue management, risk assessment, and change management programs.

Develop internal partnerships that facilitate sharing of risk information and results across functional lines, resulting in an integrated risk management effort. Partners include Risk and Control Services, Compliance, Legal, AWM Risk, and other control functions.

Identifies control enhancement and deficiencies, assesses exposure and significance, and proposes cost effective recommendations. Ensure business line risk policies are in place and monitored.

Provide effective people leadership through effective coaching, feedback, and sound performance management practices.

Required Qualifications

License: FINRA Series 7 and 24

License: FINRA Series 53; or ability to obtain within 120 days

10+ years of work experience in financial services, specifically with risk or control functions, managing controls of a broker-dealer, and regulatory audits/reporting.

Strong understating of the regulations and laws that impact clearing broker-dealers

Strong knowledge of equity and fixed income regulatory requirements and processes

Strong knowledge or experience with advisory products

Demonstrated people leadership experience

Bachelor’s Degree or equivalent work experience

Ability to influence and collaborate across business lines to achieve results.

Preferred Qualifications

Experience with financial and regulatory reporting

Experience or knowledge of Operations Control functions (e.g., Customer Protection rule oversight, break/fail monitoring, etc.)

License: FINRA Series 27

About Our Company

We’re a diversified financial services leader with more than $1 trillion in assets under management and administration as of 2022. Our team of 20,000 people in more than 20 countries, advise and manage assets and income of more than 2 million individual, small business and institutional clients. We are a longstanding leader in financial planning and advice, a global asset manager and an insurer. Our unwavering focus on our clients and strong financial foundation connects each of our unique businesses - Ameriprise Financial, Columbia Threadneedle Investments and RiverSource Insurance and Annuities. Here, we foster meaningful careers, invest in the future, and make a difference for clients, institutions and communities around the world.

Base Pay Salary

The estimated base salary for this role is $151,000 - $251,000/ year. We have a pay-for-performance compensation philosophy. Your initial total compensation may vary based on job-related knowledge, skills, experience, and geographical work location. In addition, most of our roles are eligible for variable pay in the form of bonus, commissions, and/or long-term incentives depending on the role. We also have a competitive and comprehensive benefits program that supports all aspects of your health and well-being, including but not limited to vacation time, sick time, 401(k), and health, dental and life insurances.

Ameriprise Financial is an equal opportunity employer. We consider all qualified applicants without regard to race, color, religion, sex, national origin, genetic information, age, sexual orientation, citizenship, gender identity, disability, veteran status, marital status, family status or any other basis prohibited by law.

Full-Time/Part-Time

Full time

Exempt/Non-Exempt

Exempt

Job Family Group

Business Support & Operations

Line of Business

CLEAR Clearing

Seniority level

• Seniority level

  Executive

Employment type

• Employment type

  Full-time

Job function

• Job function

  Business Development and Sales

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