The CRO will be responsible for identifying, measuring, monitoring, and controlling risks arising from the firm’s clearing of U.S. equities and listed options. The role requires significant experience with correspondent clearing, margin, market and credit risk, liquidity, securities lending, settlement exposure, and regulatory requirements. The CRO will work closely with the CEO, COO, Finance, Compliance, Technology, and Client Service teams and will have authority to escalate material risks, impose restrictions, require additional collateral, and recommend liquidation or termination of higher-risk relationships.
Key Responsibilities:- Develop and maintain the firm’s risk-management framework, policies, limits, and escalation procedures.
- Monitor customer, correspondent, counterparty, and firm-level exposure arising from equities, listed options, margin accounts, securities lending, and settlement activity.
- Establish and enforce risk limits for trading, margin and concentration.
- Review daily and intraday risk reports, including margin deficiencies, concentrated positions, stress losses, settlement obligations, and unusual trading activity.
- Oversee stress testing, scenario analysis, liquidity-risk assessments, and contingency planning.
- Evaluate the financial condition, business model, customer base, trading strategy, operational controls, and risk profile of new and existing correspondent clients.
- Participate in client onboarding and periodic reviews and recommend appropriate limits, collateral requirements, product restrictions, or enhanced monitoring.
- Work with Operations and Finance to manage OCC, NSCC, and DTC margin, clearing-fund, collateral, and settlement obligations.
- Coordinate responses to market volatility, large margin calls, settlement failures, account deficits, and other material risk events.
- Review new products, execution venues, trading strategies, and system changes before implementation.
- Partner with Compliance on regulatory, AML, market-manipulation, and trade-surveillance matters that may create financial or reputational risk.
- Support compliance with applicable SEC, FINRA, OCC, DTCC, and exchange requirements, including SEC Rules 15c3-1 and 15c3-3.Establish key risk indicators and provide regular risk reports to the CEO and relevant committees.
- Participate in regulatory examinations, audits, and responses to inquiries
- Build and lead a strong risk-management team and promote a firmwide culture of accountability and prudent risk management.
Required Qualifications:
Minimum of 7 years of broker-dealer, clearing, market-risk, credit-risk, or related financial-services experience.
Significant experience at a carrying or correspondent-clearing broker-dealer.
Strong knowledge of U.S. equities and listed-options clearing.
Experience with margin management, stress testing, concentration risk, liquidity risk, settlement exposure, and customer or correspondent credit risk.
Working knowledge of OCC, DTC, NSCC, FINRA, SEC financial-responsibility rules, Regulation T, portfolio margin, and applicable margin requirements.
Ability to evaluate complex options portfolios, short-option exposure, volatility risk, and liquidation risk.
Experience reviewing introducing brokers, omnibus relationships, institutional clients, or active-trading businesses.
Strong judgment and the ability to make timely decisions during periods of market stress.
Excellent analytical, leadership, communication, and problem-solving skills.
Ability to communicate risk issues clearly to executives, regulators, clients, and technical teams.
Clean regulatory and employment history required.
Preferred Qualifications:
Experience with securities lending, hard-to-borrow securities, low-priced securities, foreign correspondents, or omnibus clearing relationships.
Experience using SQL, risk analytics, relational databases, or business-intelligence tools.
Experience developing automated risk reports, dashboards, alerts, and limit-monitoring systems.
Bachelor’s degree in finance, economics, mathematics, statistics, engineering, technology, or a related field.
LicensingFINRA Series 7 and Series 24 preferred or required based on assigned responsibilities.
Ability to obtain and maintain any additional registrations required by the firm.
Position Details:
Full-time executive position. On-site. Competitive compensation based on experience. Medical, dental, and vision benefits. Life insurance and long-term disability options available.
