Counterparty Credit Risk Associate

Description

Citizens JMP Securities, Inc., Citizens Institutional Broker-Dealer, is seeking a Broker-Dealer Credit Risk Operations Associate to assist with Non-Bank Financial Institutions, including Insurance Companies, Broker-Dealers, Investment Managers, Hedge Funds, Mutual Fund Families, and others.

In this role, you will support the establishment, monitoring, and reviewing of Credit Risk methodology for counterparties on an individual, sector, and portfolio basis. This involves utilizing market data, collaborating with the Citizens Model Risk team, and gaining an understanding of trading businesses such as Equities, Options, High Yield Bonds, and Derivatives via ATM Forwards. You will help build out the current SEC Rule 15c3-5 (the Market Access Rule) program by working with business partners from trading, Compliance, and Trading Operations.

Key Responsibilities:

• Establish and monitor counterparty limits (notional, single order, share quantity).
• Establish market routing limits (ADV %, MAX Price).
• Enhance WSPs for Market Access controls.
• Assist in providing real-time counterparty limits during client onboarding and conduct annual portfolio reviews of active counterparties.
• Ensure proper controls are in place to systematically limit the financial exposure of the broker-dealer that could arise because of market access.
• Ensure compliance with all regulatory requirements applicable to market access.
• Prepare timely and accurate reports to follow up on monitoring results for trading activity and limit requests.
• Maintain credit files and folders to ensure accuracy for internal audit reports and credit quality control.
• Use Excel to coordinate spreadsheets and information related to trading systems.
• Collaborate with trading desks to gather financial data and information from clients to support appropriate limit setting.
• Analyze quality risk indicators (trends, variations, problems) to help minimize losses (less complex analysis).

Key Skills to Success:

• Ability to work effectively as part of a team and manage multiple projects simultaneously.
• Self-starting team player who can think strategically and thrive in a fast-paced, entrepreneurial work environment.

Education / Experience:

• Bachelor’s degree in finance, accounting, or a related field with 1-3 years of experience in finance, credit risk, or trading. Relevant work experience may substitute for education requirements.
• Knowledge of Market Access Rule 15c3-5 required.

Preferred Qualifications and Credentials:

• FINRA Licenses 7 preferred.
• Basic analytical skills, including familiarity with programming and query languages (e.g., SQL) for data analysis.

Hours & Work Schedule 

• Hours per Week: 40
• Work Schedule: M-F

Pay Transparency

The salary range for this position is $111,240 - $150,000, plus an opportunity to earn an annual discretionary bonus. Actual pay is based on various factors including but not limited to the work location, and relevant skills and experience.  

We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens’ paid time off policy exceeds the mandatory, paid sick or paid time-away policy of very local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits.

Some job boards have started using jobseeker-reported data to estimate salary ranges for roles. If you apply and qualify for this role, a recruiter will discuss accurate pay guidance.

Equal Employment Opportunity

Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.