Senior Risk Manager
Foresters Financial is a diversified financial services company that is expanding its distribution and footprint across the US. With headquarters on Wall Street, and assets under management of approximately US$11.0 billion, Foresters Financial includes a broker-dealer, asset management firm, investment advisory firm, transfer agent and a life insurance company.
Foresters Financial is growing its brand presence across the US, expanding distribution of our investment products in select wholesale channels and increasing our footprint of retail locations.
Since its founding in 1930, Foresters Financial has earned a reputation for its commitment to the long-term interests of its clients, representatives and employees. In 2011, Foresters Financial joined the Foresters group of companies. Foresters is an international financial services provider with more than three million clients and members in the United States, Canada and the United Kingdom. From their start over 140 years ago, Foresters has helped families improve their financial well-being and make a make a difference in their communities. Almost a century-and-a-half later, this commitment still sets the Foresters group of companies apart.
PURPOSE OF ROLE:
The Senior Risk Manager for NAAM is primarily responsible for supporting the NAAM CRO in the continuous development of risk management practices at NAAM to ensure they are commensurate with the risk profile of the business, in line with regulatory expectations, and meet best practice in the asset management industry. The Senior Risk Manager will also contribute to the development of risk management best practice across Foresters Financial.
KEY RESPONSIBILITIES AND ACCOUNTABILITIES:
Risk assessment and monitoring
- responsible for maintaining the Risk Management Policy (the Policy) to ensure it remains appropriate and making recommendations for change as necessary
- put in place and maintain controls to ensure compliance with the Policy and to escalate identified areas of non-compliance to the CRO as appropriate with proposals for remediation.
- be accountable for oversight and challenge of departmental risk registers
- be accountable for risk event reporting, and follow-up on root cause analysis and subsequent action plans
- work with front-line staff, develop and monitor key risk indicators for the business linked to expressed risk appetite
- work with stakeholders to design/update policies and procedures that relate to internal controls
- work with risk colleagues across the enterprise to develop common standards of best practice
- develop and provide such risk reporting as is deemed necessary
- assist the CRO in the preparation of the quarterly risk report to the NAAM Board
- assist in the development and delivery of risk training
- advise staff on risk matters
- encourage risk-based decision making
- encourage documentation of risk management activities
- provide input into Risk Appetite development
- provide input into development of new risk-related procedures
KEY QUALIFICATIONS AND COMPETENCIES:
- At least 10 years of business experience in broker dealer and asset management, including strong experience in risk management.
- Sound knowledge of current best practices and regulatory requirements in risk management and processes in broker dealer and asset management industry.
- Experience working with senior management.
- Strong interpersonal skills with the ability to build strong working relationships across functional areas; strong influencing skills.
- Demonstrated strong personal accountability; results and impact oriented.
- Strong organizational, analytical and planning abilities.
- Strong time management skills and ability to multi-task and respond to evolving organizational needs.
- Excellent communication skills (verbal, written, presentation and report writing).
- Outstanding professionalism and professional work ethic approach.
- Good judgement and decision making skills to act effectively in resolving issues which arise.
- Influence and motivate strategic and operational management to participate in corporate risk management programs.
- Strong understanding of financial issues and ability to analyze situations relating to the level of risk and necessary mitigations.
- Be flexible in dealing with people and creative in achieving a proportional risk management framework, recognizing the competing demands on business partners.
- This positon is based in New York / Edison.
Foresters Financial is an Equal Opportunity Employer.