Manager, Counterparty Credit Risk
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Job Description
Manager overseeing counterparty credit risk for Wealthsimple’s Securities Lending activities. Responsible for building and leading the centralized credit risk assessment function from the ground up.
Responsibilities:
- Own and up-level the end-to-end procedures for the counterparty credit risk assessment process, ensuring consistency, scalability, and auditability across all workflows.
- Conduct and compile comprehensive credit assessments and provide detailed written recommendations for new and existing counterparties, incorporating financial analysis, AML screening, and operational due diligence to determine appropriate credit limits.
- Evaluate counterparty creditworthiness holistically and provide recommendations on counterparty onboarding and ongoing monitoring — factoring in financial strength (liquidity, leverage, capital, credit ratings), size of the securities lending/borrowing book, entity structures sharing a common parent, and other qualitative/quantitative considerations.
- Establish, monitor, and maintain counterparty concentration limits within our OMS platform ensuring exposures remain within approved thresholds.
- Report on, review, and escalate forward-looking risk metrics to ensure securities lending activities remain within our risk tolerance.
- Author, maintain, and enhance relevant policies and procedures, identifying gaps and recommending enhancements as the program evolves.
- Prepare presentation materials on counterparty credit risk activities for oversight committees, communicating key risks clearly and concisely to Sr. Management.
- Build, mentor, and manage a team of risk specialists over time, scaling the function as the program matures and taking on additional operational onboarding responsibilities.
Requirements:
- Demonstrated success over a minimum of 4–8+ years in counterparty credit risk, credit analysis, or a highly relevant credit risk management role within the financial services or brokerage sector is required. Candidates with exceptional skills and experience may be considered for a more senior position.
- Strong command of financial statement analysis, credit rating methodologies, and counterparty credit risk assessment frameworks required along with providing recommendations to Sr. Management in a clear and concise manner that enables decision making.
- Preference given to individuals who have successfully completed or are in the process of completing their CFA, CPA, or FRM.
- Relentlessly pursues root causes and is willing to continuously expand their knowledge and competencies.
- Acts without being told what to do and is ready to "roll up their sleeves" and build a centralized function from the ground up. Takes full ownership of work and proactively identifies risks before they materialize.
- Plans, organizes, and prioritizes effectively across multiple concurrent counterparty reviews and projects.
- Speaks plainly and truthfully. Distills complex credit and risk concepts into clear, actionable recommendations for any audience.
Benefits:
- Top-tier health benefits and life insurance
- Long-term group savings with employer match, through Wealthsimple for Business
- 20 vacation days, 4 wellness days, and unlimited sick and mental health days per year
- 90 days away: work outside Canada for up to 90 days per year
- Employee resource groups, including Rainbow (2SLGBTQ), Women of WS, and Black at WS
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