Team Lead, Derivatives Risk Remediation
Remote
Regulatory – Brokerage Operations /
Permanent Full Time /
Remote
Your career is an investment that grows over time!
Wealthsimple is on a mission to help everyone achieve financial freedom by reimagining what it means to manage your money. Using smart technology, we take financial services that are often confusing, opaque and expensive and make them transparent and low-cost for everyone. We’re the largest fintech company in Canada, with over 4 million users who trust us with more than $80 billion in assets.
Our teams ship often and make an impact with groundbreaking ideas. We're looking for talented people who keep it simple and value collaboration and humility as we continue to create inclusive and high-performing teams where people can be inspired to do their best work.
About the Team
The Brokerage Risk Operations team, a part of Brokerage Operations, is responsible for the daily monitoring and remediation of market and credit-related risks within client margin trading accounts, adapting to evolving market conditions. Additionally, the team daily monitors non-margin delinquent client accounts to ensure timely closure of positions with cash debit balances and the execution of related cross-account offsets before these accounts are transferred to the collections team.
We are seeking a Team Lead to head a new function within Brokerage Risk Operations: Derivatives Risk Remediation. This role involves executing risk remediation activities for complex trading products, including margin lending and various complex option derivative strategies (e.g., covered calls, secured puts, spreads, naked strategies), in adherence to established policies. As our business expands into additional complex derivatives, the team is expected to grow to maintain comprehensive risk coverage. Ultimately, the successful candidate will manage a team of Associates and serve as the execution arm for policies set by cross-functional brokerage stakeholders.
About the role
- Serve as the execution arm for policies set by cross-functional brokerage stakeholders.
- Close client positions and/or apply appropriate account restrictions based on single stock and broad-based stress testing metrics to ensure that client exposures are within established stress guidelines, according to established policies and procedures.
- Close client positions at the direction of the Margin Supervision team, subject to ongoing market and credit risk considerations.
- Monitor expiration risk for options and ensure that in-house automated tools remediate option exposures. Serve as a critical backup to automated tools to ensure timely redundancy measures and/or trades are placed to prevent option assignment risk.
- Work with cross functional teams to remediate any post-expiration options assignment exposures.
- Monitor early assignment risk of options and remediate exposures according to established procedures.
- Execute liquidation of short positions resulting from option assignment.
- Monitor for and remediate uncovered option positions.
- Actively monitor client portfolios for option strategies outside their approved trading levels and close positions as required.
- Liaise with cross functional stakeholders to answer any technical client questions received, including but not limited to margin requirements for complex derivatives and associated actions taken on exposure remediation.
- Create and maintain comprehensive policies and procedures for the team, ensuring documentation remains current with evolving products, regulations, and internal processes.
- Establish, track, and ensure adherence to Service Level Agreements (SLAs) for risk remediation activities, providing regular reporting on performance metrics to senior leadership.
- Draft memos and presentations to senior stakeholders when required.
What you’ll bring:
- 3-5 years of experience working in Brokerage Operations, Market Risk Management and/or Trading at a CIRO registered dealer member.
- Excellent knowledge of margin trading and complex derivative products (including option strategies and futures) and associated CIRO 5000 Dealer Member Margin Rules, gained through a combination of education and hands-on experience.
- Must currently be registered as a Supervisor with CIRO or have all the following courses completed for registration: Canadian Securities Course (CSC) or Level 1 CFA, Conduct Product Handbook (CPH), Derivatives Fundamentals Course and Options Licensing (DFOL), Futures Licensing Course (FLC), Options Supervisors Course (OPSC) and Canadian Commodity Supervisors Exam (CCSE).
- Additional designations (or working towards) such as FRM and CFA preferred.
- Strong attention to detail with ability to follow established procedures precisely and execute exposure remediation trades and redundancy measures in a timely manner.
- A keen eye for risk, escalating accordingly in a timely manner.
- Excellent communication and the ability to distill down complex information for senior stakeholder consumption.
- Ability to manage multiple priorities in a fast-paced environment, while working effectively with cross functional stakeholders.
- The ability to lead and build a team from the ground up, ensuring that they are set up for growth and success.
Why Wealthsimple?
🤑 Competitive salary with top-tier health benefits and life insurance
📈 Retirement savings matching plan using Wealthsimple for Business
🌴 20 vacation days per year and unlimited sick and mental health days
📚 Up to $1,500 per year towards wellness and professional development budgets respectively
🛫 90 days away program: Employees can work internationally in eligible countries for up to 90 days per calendar year
🌎 A wide variety of peer and company-led Employee Resource Groups (ie. Rainbow, Women of Wealthsimple, Black @ WS)
💖 Company-wide wellness days off scheduled throughout the year
We’re a remote-first team, with over 1,000 employees coast to coast in North America. Be a part of our Canadian success story and help shape the financial future of millions — join us!
Technology & Innovation at Wealthsimple
We believe the future belongs to those who innovate boldly. At Wealthsimple, every team member is expected to lean into new technologies, including AI, and tooling to rethink how we work, solve problems faster, and create even greater value. We're looking for people who are not just comfortable with change but energized by it. Our commitment is to build a company that evolves at the pace of the world around us, and we want you to help lead that future.
DEI Statement
At Wealthsimple, we are building products for a diverse world and we need a diverse team to do that successfully. We strongly encourage applications from everyone regardless of race, religion, colour, national origin, gender, sexual orientation, age, marital status, or disability status.
Accessibility Statement
Wealthsimple provides an accessible candidate experience. If you need any accommodations or adjustments throughout the interview process and beyond, please let us know, and we will work with you to provide the necessary support and make reasonable accommodations to facilitate your participation. We are continuously working to improve our accessibility practices and welcome any feedback or suggestions on how we can better accommodate candidates with accessibility needs.
We may use artificial intelligence (AI) tools to support parts of the hiring process, such as reviewing applications, analyzing resumes, or assessing responses. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans. If you would like more information about how your data is processed, please contact us.
