Chief Risk & Compliance Officer
Corporate Risk & Compliance focuses on several key risk types, including conduct, credit, financial crimes, information security, interest rate, liquidity, market, model, operational, regulatory compliance, reputational, strategic, and technology risk. The function provides leadership, enhances communications, assists with problem identification and solutions, and shares industry best practices. In addition, the practice provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.
As a Leader, you will be expected to achieve success by leading through influence and collaborating across the Management team, in order to execute against the firm's vision and strategic priorities.
The CRCO will report directly to the COO and will leverage their experience and knowledge of risk management, business functions, products, and services to provide independent, holistic risk leadership and to support management’s oversight of the business.
This leader will provide senior management with an independent perspective of the level of risk to which the firm's activities are exposed across various risk types. They will accomplish this through an in-depth understanding of Regulatory, Operational, Credit, Fiduciary & Investment Risk, as well as Independent Testing & Validation, and by leveraging the broader SMArtX team to provide independent risk oversight, and challenge for the business activities. This leader will regularly present to senior management and regulators the risk position of the business.
What you’ll do:
• Provide a single point of contact to the leadership for all oversight to include financial and non-financial risks.
• Understand themes and trends across multiple risk types along with the impact of those themes and trends
• Thoroughly evaluate practice risk, regulatory requirements and risks, fiduciary obligations, and issues that arise within Registered Investment Advisor (RIA) and broker dealer activities.
• Identify and lead necessary targeted risk reviews across and lines of business through influence to evaluate business activities, identify key risks and issues, and lead resolution through sustainable solutions.
• Ensure appropriate oversight of Market, Reputational, and Climate driven risks (where applicable).
• Demonstrate and sponsor appropriate risk management and leadership behaviors in support of doing what is right for our clients, partners, and employees to drive competitive advantage through ethics, diversity, and inclusion initiatives.
• Identify and escalate risk and control issues with transparency, in a timely manner, and in accordance with Company policies and procedures.
• Implement a Risk Management Framework through promoting the adoption of the Risk Operating Model, setting clear behavioral expectations for risk management, ensuring clearly defined roles and accountability, and promoting a sound control environment.
• develop and implement sustainable and effective Vendor Risk Management procedures.
• Drive the execution of remediation plans and support regulatory commitments working closely with Sr. Management.
• Regularly present to senior management, regulators, and internal and external shareholders.
• Oversee and actively manage risks within the risk appetite, oversee the continued refinement and/or development of appropriate controls, and ensure thorough and timely resolution of issues.
• Promote a strong risk management culture and discipline throughout their businesses.
• Advise senior business leadership regarding appropriate operations policies and processes leveraging risk management metrics/business scorecard, track performance, and monitor trends across the business.
In addition to understanding and challenging the current risk profile of the business, the
Chief Risk & Compliance Officer is responsible for confirming that their respective business strategic priorities align with the Company's risk appetite and the risk management governance framework.
What we are looking for:
• 12+ years of risk experience, financial services industry experience, or a combination of both
• 10+ years of management experience
• 10+ years of experience within the Wealth & Investment Management line of business being covered, with an extensive risk background and broad familiarity with regulatory and risk requirements covering RIAs and Broker Dealers
• Expertise in all risk categories including credit, operational risk, and compliance, with extensive knowledge of laws and regulations from the regulatory agencies
• Proven experience successfully leading a line of business or corporate function in a business of comparable size, scale, complexity, and regulatory oversight
• Deep knowledge of the infrastructure needed to support a line of business, leading edge risk practices, and required end-to-end processes
• Proven communication skills with the ability to influence, develop, partner with, and maintain collaborative relations at all levels within the organization and externally with customers, regulators, partners, and communities within a highly matrixed organization
• Strong understanding of supervisory frameworks for Financial Advisor activity with the ability to identify inadequacies
• Strong understanding of risks arising from inappropriate sales practices with Elder & Vulnerable clients with the ability to challenge frameworks to identify sales practices issues
• Strong understanding of product risks and appropriateness of these products to WIM clients
• Thorough understanding of and ability to use data, and partner with data teams to identify risks and issues
• Strong understanding of Fiduciary obligations in the Broker Dealer regulatory construct
• Strong understanding of conflicts inherent in the discretionary activity and mitigating strategies
• Strong educational credentials with an M.B.A. or Master's degree preferred
Leadership, integrity, and credibility will be determining factors in selection. Successful candidates will be articulate and possess a demonstrated leadership capability; they will be impressive in their inter-personal effectiveness and with regard to their accomplishments. This role requires leaders with strong relationship management, influencing, vision, and execution skills. A key differentiator will be the ability to understand and operate successfully in a rapidly evolving corporate environment. This role requires a sense of urgency, passion for results, and personal accountability for achievement.
Location: West Palm Beach, Florida
SmartX Advisory Solutions was founded in 2013 and is a rapidly growing, leading financial technology firm developing breakthrough innovation in the wealth management industry. If you want to work in a professional, yet relaxed, atmosphere with other dynamic individuals, submit your resume today.
SMArtX Advisory is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. Vestmark prohibits employment discrimination on the basis of race, color, religion, gender identity, sex, sexual orientation, pregnancy, national origin, age, disability status, protected military or veteran status, and genetic information.