Associate, Margin Supervision

Summary

Join Wealthsimple's Margin Supervision team and contribute to a fast-paced, collaborative environment focused on monitoring client margin accounts and mitigating risk. You will be responsible for daily operational activities, risk management, and ensuring compliance with established policies and procedures. The role requires expertise in complex derivatives and a strong understanding of margin requirements. You will collaborate with various stakeholders, including product, compliance, and market risk teams. This position offers the opportunity to make a significant impact on the margin business while working in a dynamic and innovative setting. Wealthsimple provides a competitive salary and benefits package, including health insurance, retirement savings matching, paid time off, and professional development opportunities.

Requirements

• 1-3 years of experience working for an investment dealer in a similar capacity working with complex derivatives
• Margin expertise and excellent knowledge of complex option strategies and their associated risks
• In depth knowledge of CIRO IDPC 5000 rules pertaining to margin requirements, particularly on equities and options
• Data and analytics - strong analytical and problem-solving skills with superior attention to detail. Ability to retrieve and analyze data using SQL
• A strong problem solver with extraordinary judgment and ability to navigate through uncertainty
• Collaboration - excellent interpersonal skills and willingness to work in collaboration with various team members
• Communication - speaks plainly and truthfully. Communicates complex ideas in a simple and easy-to-understand way
• Ability to work in a fast-paced environment and excel in a dynamic setting

Responsibilities

• Be responsible for daily execution of all operational activities related to margin supervision
• Monitor and manage risk within margin accounts holding complex derivatives based on established policies and procedures on a daily basis. Effectively implement risk mitigation strategies/solutions in a timely manner
• Monitor client level and firm level concentration risk, to ensure excessive concentration on securities is being managed appropriately by monitoring market conditions, liquidity, volatility, security specific fundamentals, and the results of stress tests
• Monitor client margin accounts on a daily basis to ensure account margin is on-side. Ensure remedial actions are taken on accounts that are under-margined based on established policies and procedures
• Ensure remedial actions are taken against highly concentrated accounts based on established policies and procedures
• Ensure margin requirements are adjusted for securities by assessing the results of modeled outputs and ongoing market conditions
• Perform periodic testing on client margin accounts to ensure that market values, loan values, margin, and equity balances are being calculated appropriately and escalate issues to stakeholders in a timely manner
• Prepare relevant presentation materials on margin lending activities for the Brokerage Risk Operations Team., effectively communicating key risks in a clear and concise manner to Management

Preferred Qualifications

Preference given to individuals who have successfully completed the Investment Dealer Supervisor Course (IDSC), Derivatives Fundamentals and Options Licensing Course (DFOL), Options Supervisor Course (OPSC) and other relevant Canadian Security Investment (CSI) courses

Benefits

• Competitive salary with top-tier health benefits and life insurance
• Retirement savings matching plan using Wealthsimple for Business
• 20 vacation days per year and unlimited sick and mental health days
• Up to $1,500 per year towards wellness and professional development budgets respectively
• 90 days away program: Employees can work internationally in eligible countries for up to 90 days per calendar year
• A wide variety of peer and company-led Employee Resource Groups (ie. Rainbow, Women of Wealthsimple, Black @ WS)
• Company-wide wellness days off scheduled throughout the year