job: Associate Director, Risk Management

Location; New York, NY

Report this job

Job Description

We Work to Protect Investors. Join our Team.

FINRA is seeking a well-qualified individual for our Associate Director, Risk Management opening in New York, NY. To be considered for this position, please submit your resume through our career site atwww.finra.org/careers – no phone calls, please.

Job Summary:

The Associate Director of Market Risk is responsible for the design, development, enhancement, and implementation of key market risk measurement methodologies and approaches as they relate to account and portfolio level holdings. Specifically, the Associate Director participates in, supports, and leads national strategic and tactical initiatives to identify, prioritize, and quantify risk exposures as requested by management in Member Regulation, Enforcement, Market Regulation and the Office of Fraud Detection and Market Intelligence.  The Associate Director is responsible for recommending risk measurement strategies and ensuring that internal risk models provide FINRA’s leadership with historical and predictive risk priorities to inform the regulatory operations and activities.

This is a highly technical position that requires specialized expertise working under minimal supervision and guidance.

Essential Job Functions:

• Working with leading outside experts and internal risk specialists, designs, develops and implements market risk measurement strategies at an account or portfolio level.  Serves as a FINRA expert on risk measurement.
• Manages the design and deployment of an intelligent risk based platform using qualitative and quantitative methods to detect unanticipated financial risks in the market and assess the impact of those risks to the investing public.  Develops recommendations for business leaders on market risks so that FINRA resources are deployed in a meaningful, efficient manner.
• Manages the design, development, and implementation of account and transaction level analytics for all traded Equity, Fixed Income, and Structured Products to size material exposures and establish tolerances in line with an overall risk profile.  Advises business leaders when they establish or modify the overall risk profile.
• Defines and develops risk models and scenarios in support of the risk organization’s mandate.
• Determines resource needs to implement risk models.  Works with external data sources and vendors to acquire necessary data and safeguard such data in FINRA’s possession.
• Keeps current with and provides thought leadership in new risk monitoring and surveillance techniques.
• Coaches and mentors less experienced analysts to enhance development and to ensure consistent achievement of established standards.
• Engages team members and management to identify issues and problems and to devise solutions; includes working with other groups to develop risk scores, profiles, peer comparisons, financial performance metrics, exposures against limits, and other risk analyses.
• Leads and participates in ad hoc special projects and national initiatives, as requested.  Shares risk and related regulatory intelligence generally and specifically related to ad hoc special projects and initiatives.
• Manages multiple, complex projects at one time.

Job Requirements

Education/Experience Requirements:

• A Master’s degree with a major in Finance, Econometrics or related field is required; a PhD in a quantitative discipline is preferred.
• At least five years of professional experience working with advanced statistical concepts; must possess strong analytical and quantitative skills.
• Strong understanding of market risk in financial markets, and investment banking products.
• Significant experience in market risk measures and methodologies including analysis of market risk, VaR, stressed VaR, generic risk measures such as Beta, Alpha, Duration, Convexity, Implied Volatility, IRC, and the Greeks.
• Working knowledge of building and validating risk management models; ability to define the modeling process, articulate the underlying business assumptions, and document the model development process.
• Significant experience with risk applications, including scenario analysis, stress testing, back testing, statistical theory, Internal rating system (regression based models, structural based models, etc.), Econometric modeling and forecasting, and statistical and qualitative techniques.
• Familiarity with the Basel Accord and the fundamentals of trading.  Strong understanding of the entire traded global portfolio regarding issues related to market risk.
• Excellent programming knowledge and working experience in SAS and SQL.
• Excellent writing, communication and interpersonal skills are required.
• Strong leadership skills and the ability to resolve issues and support change.
• The ideal candidate must be proactive and able to work independently, possess effective time management skills, and be a committed self-starter who is detail oriented and a strong team player.

Working Conditions:

• Work is normally performed in an office environment at FINRA. Extended hours are frequently required.
• Occasional travel may be required.
• Work environment includes high productivity expectations and tight deadlines.

The information provided above has been designed to indicate the general nature and level of work of the position. It is not a comprehensive inventory of all duties, responsibilities and qualifications required.

Please note: If the “Apply Now” button on a job board posting does not take you directly to the FINRA Careers site, enter www.finra.org/careers  into your browser to reach our site directly.

FINRA strives to make our career site accessible to all users. If you need a disability-related accommodation for completing the application process, please contact FINRA’s accommodation help line at 240.386.4865. Please note that this number is exclusively for inquiries regarding application accommodations.

In addition to a competitive salary, comprehensive health and welfare benefits, and incentive compensation, FINRA offers immediate participation and vesting in a 401(k) plan with company match. You will also be eligible for participation in an additional FINRA-funded retirement contribution, our tuition reimbursement program and many other benefits. If you would like to contribute to our important mission and work collegially in a professional organization that values intelligence, integrity and initiative, consider a career with FINRA.

Important Information

FINRA’s Code of Conduct imposes restrictions on employees’ investments and requires financial disclosures that are uniquely related to our role as a securities regulator. FINRA employees are required to disclose to FINRA all brokerage accounts that they maintain, and those in which they control trading or have a financial interest (including any trust account of which they are a trustee or beneficiary and all accounts of a spouse, domestic partner or minor child who lives with the employee) and to authorize their broker-dealers to provide FINRA with duplicate statements for all of those accounts. All of those accounts are subject to the Code’sinvestment and securities account restrictions, and new employees must comply with those investment restrictions—including disposing of any security issued by a company on FINRA’s Prohibited Company List or obtaining a written waiver from their Executive Vice President—by the date they begin employment with FINRA.  Employees may only maintain securities accounts that must be disclosed to FINRA at one or more securities firms that provide an electronic feed (e-feed) of data to FINRA, and must move securities accounts from other securities firms to a firm that provides an e-feed within three months of beginning employment.

As standard practice, employees must also execute FINRA’s Employee Confidentiality and Invention Assignment Agreement without qualification or modification and comply with the company’s policy on nepotism.

About FINRA

The Financial Industry Regulatory Authority (FINRA) is an independent, non-governmental regulator for all securities firms doing business with the public in the United States.  FINRA works to protect investors and maintain market integrity in a public-private partnership with the Securities and Exchange Commission (SEC), while also benefiting from the SEC’s oversight.  In its role as investor guardian, FINRA is informed, but not influenced, by the industry that it regulates.  FINRA’s independent regulation plays a critical role in America’s financial system–all at no cost to taxpayers.

FINRA’s independent regulation plays a critical role in America’s financial system and touches virtually every aspect of the securities business—from registering and educating industry participants to examining securities firms; writing rules; enforcing those rules and the federal securities laws; informing and educating the investing public; providing trade reporting and other industry utilities; and administering the largest dispute resolution forum for investors and registered firms.

All told, FINRA oversees more than 4,100 brokerage firms, more than 160,000 branch offices and almost 636,000 registered securities representatives. We also perform market regulation under contract for the major U.S. stock markets, including the New York Stock Exchange, NYSE Arca, NYSE MKT, The NASDAQ Stock Market and the EDGA and EDGX Exchanges.

In today's fast-paced and complex global economy, FINRA is a trusted advocate for investors, dedicated to keeping the markets fair and proactively addressing emerging regulatory issues before they harm investors or the markets.

FINRA has approximately 3,400 employees and operates from Washington, DC, and New York, NY, with 20 regional offices around the country.

Find out more about us and how we work—and view our current openings—at www.finra.org/careers.

Search Firm Representatives

Please be advised that FINRA is not seeking assistance or accepting unsolicited resumes from search firms for this employment opportunity. Regardless of past practice, a valid written agreement and task order must be in place before any resumes are submitted to FINRA. All resumes submitted by search firms to any employee at FINRA without a valid written agreement and task order in place will be deemed the sole property of FINRA and no fee will be paid in the event that person is hired by FINRA.

FINRA is an Equal Opportunity and Affirmative Action Employer 

All qualified applicants will receive consideration for employment without regard to age, citizenship status, color, disability, marital status, national origin, race, religion, sex, sexual orientation, gender identity, veteran status or any other classification protected by federal state or local laws as appropriate, or upon the protected status of the person’s relatives, friends or associates.

FINRA abides by the requirements of 41 CFR 60-741.5(a). This regulation prohibits discrimination against qualified individuals on the basis of disability, and requires affirmative action by covered prime contractors and subcontractors to employ and advance in employment qualified individuals with disabilities.

FINRA abides by the requirements of 41 CFR 60-300.5(a). This regulation prohibits discrimination against qualified protected veterans, and requires affirmative action by covered prime contractors and subcontractors to employ and advance in employment qualified protected veterans.

©2014 FINRA. All rights reserved. FINRA is a registered trademark of the Financial Industry Regulatory Authority, Inc.

Company Overview

FINRA is dedicated to investor protection and market integrity through effective and efficient regulation of the securities industry.

FINRA is not part of the government. We’re an independent, not-for-profit organization authorized by Congress to protect America’s investors by making sure the securities industry operates fairly and honestly.

Report this job