Raymond James Financial, Inc.
Chief Risk Officer - Private Client Group (Wealth Management)
Raymond James Financial, Inc., New York, New York, us, 10261
Essential Duties and Responsibilities
Establishes and oversees the implementation of a risk management framework for the business unit, to include defining the business appetite for risk taking and establish appropriate controls.
Conducts and presents regular risk reviews in order to provide an independent perspective of the business and to keep pace with the changing business environment.
B lands trusted relationships with senior leadership, including executive management of the Private Client Group (PCG), the firm’s wealth management unit, and Asset Management divisions, serving as a strategic and independent partner to evaluate, challenge, and guide business decisions.
Continuously monitors and analyzes the businesses risk profile and tolerance to include daily risk monitoring across all relevant risk stripes including market, credit, liquidity and operational risks.
Identifies emerging risks and advises on risk mitigation strategies.
Leads the development and implementation of risk assessment and quantification models needed to risk manage the business.
Oversees and evolves risk reporting processes to enhance the accuracy and effectiveness of risk information.
Ensures the business risk management practices comply with regulatory requirements and industry best practices. Also, engages with regulators to provide essential risk context.
Reports risk-related data including risk exposure, compliance to risk policies, and effectiveness of current risk management strategies to the Board of Directors, senior management and various risk committees.
Collaborates with the business and other key stakeholders to evaluate the risk associated with potential mergers and acquisitions, new product offerings, and other initiatives.
Plays a central role in shaping the firm’s 1LOD/2LOD risk governance model, helping define and clarify roles and responsibilities across the risk lifecycle.
Leads and scales a growing risk team, with responsibility for hiring, developing and managing talent aligned to the evolving needs of a growing organization.
Acts as a change agent within a transforming environment, setting strategic direction for risk management as the firm continues to deepen capabilities and platform expansion for advisors.
Performs other duties and responsibilities as assigned.
Qualifications Knowledge, Skills, and Abilities
Knowledge of:
Advanced knowledge of risks and regulations in all aspects of the Private Client and Asset Management
Risk assessment methodologies
Risk governance structure and design
Risk policy and procedures
Infrastructure design, risk controls and segregation of duties
Relevant risk-based regulatory schemes including Basel I and Basel II and current rules under review
Sarbanes Oxley regulations
Software development processes
ISDA/CSA, and MBA documentation with the ability to provide advice on such documentation negotiation from the credit perspective
Securities/Private Client and Asset Management products and an understanding of the market standard risk management practices
Broker-dealer supervisory frameworks, retail investment platforms, and UHNW product risks including structured products, alternatives, and advisory platforms
Skill in:
Risk operations, work processes, internal controls and banking regulations
Excellent communication skills to clearly articulate matters while working with internal and external clients
Planning and scheduling work to meet regulatory organizational and regulatory requirements
Identifying and applying appropriate monitoring procedures
Preparing oral and/or written reports
Making rule-based and analytical decisions
Project management skills and with experience to successfully complete long- and short-term projects
Analytical thinking with demonstrated experience identifying and quantifying complex problems and providing effective resolutions
Leading through change and ambiguity, and influencing cross-functional stakeholders without formal authority
Balancing independence and collaboration in a client- and business-facing role
Ability to:
Author policies, procedures, and prepare risk reports for the Executive Committee, Board of Directors, and regulatory agencies as required
Read, analyze, and interpret complex documents
Respond effectively to the most sensitive inquiries or complaints
Deliver persuasive speeches and presentations on controversial or complex topics to top management, public groups, and the Board of Directors
Apply mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry
Apply concepts such as fractions, percentages, ratios, and proportions to practical situations
Define problems, collect data, establish facts, and draw valid conclusions
Effectively communicate verbally and in writing with management, customers, vendors and staff
Perform human resource management activities
Plan, assign, monitor, review, evaluate and lead the work of others
Coach and mentor others
Educational/Previous Experience Requirements
Bachelor’s Degree (B.A.), preferably in Mathematics, with a minimum of fifteen (15) years of financial services experience required
Experience in broker-dealer or wealth management firms preferred, especially with exposure to front-office or first-line risk roles in addition to second-line oversight
Demonstrated track record building or transforming risk functions and working with UHNW advisory businesses, structured product platforms, or alternative investments is strongly preferred
Please note: This role is not eligible for immigration Work Visa sponsorship, either currently or in the future.
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Establishes and oversees the implementation of a risk management framework for the business unit, to include defining the business appetite for risk taking and establish appropriate controls.
Conducts and presents regular risk reviews in order to provide an independent perspective of the business and to keep pace with the changing business environment.
B lands trusted relationships with senior leadership, including executive management of the Private Client Group (PCG), the firm’s wealth management unit, and Asset Management divisions, serving as a strategic and independent partner to evaluate, challenge, and guide business decisions.
Continuously monitors and analyzes the businesses risk profile and tolerance to include daily risk monitoring across all relevant risk stripes including market, credit, liquidity and operational risks.
Identifies emerging risks and advises on risk mitigation strategies.
Leads the development and implementation of risk assessment and quantification models needed to risk manage the business.
Oversees and evolves risk reporting processes to enhance the accuracy and effectiveness of risk information.
Ensures the business risk management practices comply with regulatory requirements and industry best practices. Also, engages with regulators to provide essential risk context.
Reports risk-related data including risk exposure, compliance to risk policies, and effectiveness of current risk management strategies to the Board of Directors, senior management and various risk committees.
Collaborates with the business and other key stakeholders to evaluate the risk associated with potential mergers and acquisitions, new product offerings, and other initiatives.
Plays a central role in shaping the firm’s 1LOD/2LOD risk governance model, helping define and clarify roles and responsibilities across the risk lifecycle.
Leads and scales a growing risk team, with responsibility for hiring, developing and managing talent aligned to the evolving needs of a growing organization.
Acts as a change agent within a transforming environment, setting strategic direction for risk management as the firm continues to deepen capabilities and platform expansion for advisors.
Performs other duties and responsibilities as assigned.
Qualifications Knowledge, Skills, and Abilities
Knowledge of:
Advanced knowledge of risks and regulations in all aspects of the Private Client and Asset Management
Risk assessment methodologies
Risk governance structure and design
Risk policy and procedures
Infrastructure design, risk controls and segregation of duties
Relevant risk-based regulatory schemes including Basel I and Basel II and current rules under review
Sarbanes Oxley regulations
Software development processes
ISDA/CSA, and MBA documentation with the ability to provide advice on such documentation negotiation from the credit perspective
Securities/Private Client and Asset Management products and an understanding of the market standard risk management practices
Broker-dealer supervisory frameworks, retail investment platforms, and UHNW product risks including structured products, alternatives, and advisory platforms
Skill in:
Risk operations, work processes, internal controls and banking regulations
Excellent communication skills to clearly articulate matters while working with internal and external clients
Planning and scheduling work to meet regulatory organizational and regulatory requirements
Identifying and applying appropriate monitoring procedures
Preparing oral and/or written reports
Making rule-based and analytical decisions
Project management skills and with experience to successfully complete long- and short-term projects
Analytical thinking with demonstrated experience identifying and quantifying complex problems and providing effective resolutions
Leading through change and ambiguity, and influencing cross-functional stakeholders without formal authority
Balancing independence and collaboration in a client- and business-facing role
Ability to:
Author policies, procedures, and prepare risk reports for the Executive Committee, Board of Directors, and regulatory agencies as required
Read, analyze, and interpret complex documents
Respond effectively to the most sensitive inquiries or complaints
Deliver persuasive speeches and presentations on controversial or complex topics to top management, public groups, and the Board of Directors
Apply mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry
Apply concepts such as fractions, percentages, ratios, and proportions to practical situations
Define problems, collect data, establish facts, and draw valid conclusions
Effectively communicate verbally and in writing with management, customers, vendors and staff
Perform human resource management activities
Plan, assign, monitor, review, evaluate and lead the work of others
Coach and mentor others
Educational/Previous Experience Requirements
Bachelor’s Degree (B.A.), preferably in Mathematics, with a minimum of fifteen (15) years of financial services experience required
Experience in broker-dealer or wealth management firms preferred, especially with exposure to front-office or first-line risk roles in addition to second-line oversight
Demonstrated track record building or transforming risk functions and working with UHNW advisory businesses, structured product platforms, or alternative investments is strongly preferred
Please note: This role is not eligible for immigration Work Visa sponsorship, either currently or in the future.
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