Ameriprise Financial Services, LLC
Vice President, Clearing and Service Risk Management
Ameriprise Financial Services, LLC, Minneapolis, Minnesota, United States, 55400
Vice President, Clearing and Service Risk Management
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 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 $1.5 trillion in assets under management, administration and advisement as of 2024. With our team of more than 20,000 people in 20 countries, we advise, manage and protect assets and income of more than 3.5 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 focus connects Ameriprise Financial, Columbia Threadneedle Investments and RiverSource Insurance and Annuities. We foster meaningful careers, invest in the future, and make a difference for clients, institutions and communities around the world.
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 or any other basis prohibited by law.
Salary and Benefits The estimated base salary for this role is $151,000 - $251,000 per year. We have a pay-for-performance compensation philosophy. Initial total compensation may vary based on job-related knowledge, skills, experience, and geographical work location. Most roles are eligible for variable pay in the form of bonus, commissions, and/or long-term incentives depending on the role. We offer a comprehensive benefits program including vacation, sick time, 401(k), and health, dental and life insurances.
Job Details Job Type: Full-time, Exempt
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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 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 $1.5 trillion in assets under management, administration and advisement as of 2024. With our team of more than 20,000 people in 20 countries, we advise, manage and protect assets and income of more than 3.5 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 focus connects Ameriprise Financial, Columbia Threadneedle Investments and RiverSource Insurance and Annuities. We foster meaningful careers, invest in the future, and make a difference for clients, institutions and communities around the world.
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 or any other basis prohibited by law.
Salary and Benefits The estimated base salary for this role is $151,000 - $251,000 per year. We have a pay-for-performance compensation philosophy. Initial total compensation may vary based on job-related knowledge, skills, experience, and geographical work location. Most roles are eligible for variable pay in the form of bonus, commissions, and/or long-term incentives depending on the role. We offer a comprehensive benefits program including vacation, sick time, 401(k), and health, dental and life insurances.
Job Details Job Type: Full-time, Exempt
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