Senior Specialist, Margin Supervision

Summary

Join Wealthsimple's Margin Supervision team and contribute to a fast-paced, collaborative environment focused on managing risk within margin accounts. Monitor and manage risk in complex derivative-based accounts, implementing mitigation strategies and enhancing policies and procedures. You will monitor client and firm-level concentration risk, ensuring appropriate management of excessive concentrations. Daily monitoring of client margin accounts is crucial, along with taking remedial actions for under-margined or highly concentrated accounts. You will also perform periodic testing on client accounts, prepare presentations for oversight committees, and collaborate with stakeholders to identify gaps and improve processes. This role requires a strong understanding of complex derivatives, CIRO regulations, and data analysis skills.

Requirements

• 3-5 years of experience in margin and complex derivatives working for an investment dealer in a similar capacity
• Margin expertise and excellent knowledge of complex derivatives and their associated risks
• In depth knowledge of CIRO IDPC 5000 rules pertaining to margin requirements, particularly on equities and complex derivatives
• Data and analytics - strong analytical and problem-solving skills with superior attention to detail. Ability to retrieve and analyze data using SQL
• Ability to work in a fast-paced environment, be a self starter, solve issues independently, and excel in a dynamic setting
• A strong problem solver with extraordinary judgment and ability to navigate through uncertainty
• Collaboration and communication - excellent interpersonal skills and willingness to work in collaboration with various team members
• Someone who speaks plainly and truthfully, is able to communicate complex ideas in an easy- to understand way

Responsibilities

• 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
• Create and enhance policies and procedures to address complex derivatives within margin accounts keeping in mind all CIRO regulatory requirements
• 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 oversight committees, effectively communicating key risks in a clear and concise manner to Senior Management
• Collaborate with relevant stakeholders, identify gaps and support report and system changes as required. Review and assess policies and procedures and recommend enhancements

Preferred Qualifications

• Preferred candidates will have active registration with CIRO as an Investment Representative dealing with complex derivatives and as an Options Supervisor
• Courses required for these registrations include Canadian Securities Course (CSC), Conduct and Practices and Handbook Course (CPH), Derivatives Fundamentals and Options Licensing Course (DFOL), Futures Licensing Course (FLC), Investment Dealer Supervisors Course (IDSC), and Canadian Commodity Supervisor’s Qualifying Exam (CCSE)

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