[Remote] Team Lead, Derivatives Risk Remediation at Wealthsimple

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, BrokerageIndustries

Requirements

3-5 years of experience working in Brokerage Operations, Market Risk Management and/or Trading at a CIRO registered dealer member
Excellent knowledge of margin trading and complex derivative products (including option strategies and futures) and associated CIRO 5000 Dealer Member Margin Rules
Currently registered as a Supervisor with CIRO or have all the following courses completed for registration: Canadian Securities Course (CSC) or Level 1 CFA, Conduct Product Handbook (CPH), Derivatives Fundamentals Course and Options Licensing (DFOL), Futures Licensing Course (FLC), Options Supervisors Course (OPSC) and Canadian Commodity Supervisors Exam (CCSE)
Strong attention to detail with ability to follow established procedures precisely and execute exposure remediation trades and redundancy measures in
Ability to work effectively in a team environment and communicate complex technical information to non-technical stakeholders
Familiarity with automated tools and systems used in risk remediation activities
Experience with risk remediation policies and procedures, including stress testing and client position management
Strong analytical and problem-solving skills, with the ability to identify and mitigate potential risks
Excellent written and verbal communication skills, with the ability to draft memos and presentations to senior stakeholders
Ability to work under pressure and meet deadlines in a fast-paced environment

Responsibilities

Execute risk remediation activities for complex trading products, including margin lending and various complex option derivative strategies
Monitor expiration risk for options and ensure that in-house automated tools remediate option exposures
Serve as a critical backup to automated tools to ensure timely redundancy measures and/or trades are placed to prevent option assignment risk
Monitor early assignment risk of options and remediate exposures according to established procedures
Execute liquidation of short positions resulting from option assignment
Monitor for and remediate uncovered option positions
Actively monitor client portfolios for option strategies outside their approved trading levels and close positions as required
Liaise with cross-functional stakeholders to answer any technical client questions received, including but not limited to margin requirements for complex derivatives and associated actions taken on exposure remediation
Create and maintain comprehensive policies and procedures for the team, ensuring documentation remains current with evolving products, regulations, and internal processes
Establish, track, and ensure adherence to Service Level Agreements (SLAs) for risk remediation activities, providing regular reporting on performance metrics to senior leadership

Skills

Risk Remediation

Derivatives

Risk Management

Policy Execution

Stress Testing

Account Restrictions

Risk Monitoring

Option Risk

Cross-functional Collaboration

Wealthsimple

Digital platform for investing and financial management

About Wealthsimple

Wealthsimple provides a range of financial tools that help individuals manage their money effectively. Their services include automated investing, where users can set up investment accounts that automatically adjust based on market conditions, and commission-free stock trading, allowing users to buy and sell stocks without paying fees. They also offer cryptocurrency investments for those interested in digital currencies and a straightforward tax filing service that is designed to be quick and user-friendly. Wealthsimple stands out from its competitors by focusing on young professionals and tech-savvy individuals, providing a digital platform that is easy to navigate and understand. The company's goal is to simplify financial management, making it accessible to everyone by using technology to create a more personal and approachable experience in finance.

Toronto, CanadaHeadquarters

2014Year Founded

$826.6MTotal Funding

LATE_VCCompany Stage

Fintech, Financial ServicesIndustries

1,001-5,000Employees

Benefits

Health Insurance

Life Insurance

401(k) Company Match

401(k) Retirement Plan

Paid Vacation

Unlimited Paid Time Off

Professional Development Budget

Wellness Program

Remote Work Options

Paid Holidays

Risks

Increased competition from zero-commission brokers could erode Wealthsimple's market share.

Invite-only rollout of Wealthsimple Cash may limit user adoption and growth.

Rapid cryptocurrency adoption pressures Wealthsimple to innovate its offerings continuously.

Differentiation

Wealthsimple offers a human-centric approach to finance with user-friendly digital tools.

The company provides a seamless platform for investing, trading, saving, and tax filing.

Wealthsimple targets young, tech-savvy professionals seeking accessible financial management solutions.

Upsides

Wealthsimple's AUA reached $50 billion, indicating strong market presence and growth potential.

The rise of AI-driven advisory services can enhance Wealthsimple's personalized investment offerings.

Fractional shares' popularity aligns with Wealthsimple's target demographic, boosting user acquisition.

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