Posting Closing Date
July 31, 2022
Reporting to the Director, Risk Oversight & Compliance, the Market & Credit Risk Compliance Manager helps advance CDS & CDCC’s compliance and governance practices further, to ensure that each FMI’s preparation of their quantitative (quarterly) and qualitative (annually) disclosure complies with the PFMI requirements, and that this PFMI program complies with the Clearing Houses’ key compliance standards.
Drawing on his/her expertise, in a financial risk management or legal role within the financial services industry preferably dealing with account and margin structure, the Market & Credit Risk Compliance Manager functions within the framework to maintain the consistency, accuracy and appropriate delegation ownership of the PFMI disclosures. This individual also contributes actively to benchmark PFMI disclosure practices from other CCPs and stays abreast of relevant regulatory developments.
What Will You Do
- Lead and provide support to the Risk Oversight and Compliance (RO&C) team including the CRO/CCO in reviewing and verifying the PFMI qualitative and quantitative disclosures and assigning compliance ratings
- Leverage existing knowledge of financial risk (credit, liquidity and market) and good understanding of financial market intermediaries, to provide effective challenge to the first line on the results related to the disclosures
- Collaborate to update and file the qualitative disclosures on an annual basis aligned with the PFMI principles, with teams across the organization including the Chief Compliance Officer, Legal, enterprise compliance, ERM, Operations and Finance
- Ensure through periodic process reviews that senior Clearing House staff with appropriate knowledge and authority on specific functional areas are identified to “own” each key consideration of an applicable PFMI principle;
- Ensure that these Owners understand the assessment methodology required by the PFMIs, and apply it;
- Develop and implement a second line financial risk compliance process to validate the methodology used to compute the stats used for quarterly quantitative disclosures for CDS and CDCC
- Actively participate in maintaining appropriate written policies and procedures regarding the operation of the Clearing houses, and related training and monitoring
- Provide a central source for resources and questions regarding the PFMI program (eg – to address Owner questions regarding interpretation or application of the PFMIs, and to maintain a record of how previous questions were addressed);
- Supervise and Conduct ad-hoc and periodic benchmarking exercises to evaluate best practices globally in Clearing House PFMI disclosure practices to improve the understanding of the team and internal stakeholders
- Provide support for Ad Hoc Compliance related requests (Basel report) including preparation of documents for Board Presentations and Risk management Committee interactions.
- Highly motivated self-starter who is flexible and goal oriented in a small team involved in several major projects;
- Advanced knowledge related to credit, liquidity and market risk management concepts and financial market instruments, including listed derivative products (options, futures);
- Strong technology and information system skills;
- Outstanding and proven leadership capabilities – communication, influence, negotiation, conflict resolution, people management, relationship management (internally/externally), and multitasking
- Possess expert written, oral, and interpersonal communication skills
- Self-confidence, positive attitude, pragmatism;
- Advanced level of critical thinking, conceptual/abstract reasoning and good judgment
- Ability to effectively lead change management initiatives
- Ability to manage multiple tasks and meet tight timelines without compromising integrity of information;
- Ability to prioritize and execute tasks in a fast paced environment;
- Ability to adapt in a changing environment;
- Ability to foster relationships and collaborative across the organization;
- Strong conceptual and analytical skills, ability to deal with ambiguity, creativity;
- Ability to explain, summarize, synthesize abstract financial concept;
- Attention to detail.
- Bachelor’s degree in a finance discipline such as Economics, Finance, Mathematics, Statistics or pursuing a Law degree
- Bilingual, French and English (oral and written);
- CFA, PRM, FRM, CPA or CIA (Certified Internal Auditor) designation or equivalent.
Minimum 5 to 7 years of meaningful experience in financial risk management.
This role is required to know a language other than French as TMX is an international organization with operations across the globe and its clients, shareholders, competitors, stakeholders, regulators and employees communicate in English.