Managing Director, Head of Prime Finance Risk - New York City

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BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

Head of Prime Finance Risk at BMO would be responsible for overseeing all risk management activities related to the Prime Brokerage business, including identifying, assessing, mitigating, and monitoring potential risks associated with client accounts, securities lending, margining, and other prime brokerage services, ensuring compliance with regulatory requirements while supporting business growth within BMO's risk appetite. 

Key responsibilities include:

• Risk Assessment and Mitigation:
  • Leading the development and implementation of a comprehensive risk framework for the Prime Brokerage business, identifying key risks such as credit risk, market risk, operational risk, and regulatory risk. 
  • Owning and designing margin models and business stress frameworks, while working closely with 2nd line of defense.
  • Conducting regular risk assessments of client portfolios, including creditworthiness analysis, concentration risk monitoring, and margin adequacy checks; and working with clients to remediate if outside risk tolerance 
  • Implementing appropriate risk mitigation strategies, such as margin adjustments, collateral requirements, and exposure limits.
  • Enhancing policies and procedures as new business opportunities evolve to ensure growth in risk conscience way
• Stakeholder Engagement:
  • Collaborating with the Prime Brokerage sales and trading teams to provide risk insights and support business initiatives while ensuring adherence to risk policies. 
  • Liaising with internal auditors and external regulators
  • Partnering with Corporate Banking, Credit Risk and Market Risk Oversight on clients, key risks, market conditions
  • Legal negotiations with clients spanning Prime Brokerage agreements, ISDA/CSA, Master Confirm Agreements and Term Facilities
• Regulatory Compliance:
  • Ensuring adherence to all relevant regulatory requirements related to prime brokerage activities, including reporting obligations and compliance with margin rules. 
  • Staying updated on regulatory changes and implementing necessary adjustments to risk management practices.
• Monitoring and Reporting:
  • Establishing robust risk monitoring processes to identify emerging risks and potential issues within the prime brokerage portfolio. 
  • Producing regular risk reports for senior management, highlighting key risk metrics and potential concerns. 
• Managing small team of risk managers

  Leading a team of risk professionals responsible for managing the Prime Brokerage risk portfolio, including assigning responsibilities, coaching, and developing talent. 

Required Skills and Experience:

• Deep understanding of financial markets, including equities, derivatives, and securities lending. 
• Extensive experience in prime brokerage risk management, including credit risk assessment, margining, and regulatory compliance. 
• Strong analytical and problem-solving skills with the ability to interpret complex data and make informed decisions. 
• Excellent communication and interpersonal skills to effectively collaborate with diverse stakeholders across the business. 
• Proven leadership abilities to manage a team of risk professionals. 
• Familiarity with relevant regulatory frameworks such as the Securities Exchange Act and FINRA rules. 

Salary:

Pay Type:

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact.  We strive to help you make an impact from day one – for yourself and our customers.  We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.