Asset & Wealth Management, Wealth Management Risk Team, Regional Risk Manager, Associate - Dallas

JOB SUMMARY & RESPONSIBILITIES

YOUR IMPACT

Are you a strategic thinker with a strong work ethic, desire to work within a growing global business, and ability to think outside the box?  Associates on the Wealth Management Risk Team will gain exposure and access to senior managers in PWM, build expertise in business analysis and project management/execution, and develop a deeper understanding of the PWM business on a macro level. The team is seeking a candidate who has the ability to thrive in a fast-paced environment where attention to detail, strong communication skills, and passion for working with others are essential to maintaining and enhancing our business. 

 

OUR IMPACT 

Private Wealth Management (PWM) secures, develops and manages relationships with high-net-worth individuals, their families, family offices and foundations. PWM assists clients with building and preserving their financial wealth by creating and implementing long-term asset allocation within the context of each client’s particular risk tolerance and by providing access to innovative investment ideas and opportunities.  PWM professionals develop customized investment strategies and offer a full array of wealth management products and services, including private banking and trust company services.

 

The Regional Risk Manager (RRM) role is an in-business risk function (1st line) responsible for proactively identifying and mitigating risks – including, but not limited to economic, operational, and reputational risks – inherent to our PWM business.  They will work closely with US PWM Management, Regional Management Teams, Regional Compliance Managers, and PWM teams to review and advise on various supervisory activities.  Additionally, the candidate will play an instrumental role in ensuring the PWM business responds to the dynamic global regulatory environment. 

 

HOW YOU WILL FULFILL YOUR POTENTIAL 

• Review and analyze current and proposed client portfolios from a risk and suitability perspective, including account activity, transaction history, and client communication
• Proactively identify inconsistencies between client account activity as compared to internal investment policy guidelines, the client’s stated investment objectives, risk tolerance and portfolio goals, and work with PWM team to address appropriately 
• Keep PWM teams apprised of regulatory changes and their potential impact to the PWM business while also educating PWM personnel on internal policies 
• Collaborate with PWM teams, Product teams, and the Strats team to identify accounts posing excessive economic risk to the client or the firm. Advise Private Wealth Advisors (PWAs) on how to communicate and address potential issues with clients and, where necessary, set risk thresholds
• Ensure that client profile changes, portfolio reviews, and noteworthy account activities are documented appropriately through investment and relationship notes
• Collaborate with Compliance, Legal to review, assess risks, and make business decisions regarding potential non-traditional business opportunities
• Report at PWM Risk Working Group meetings on accounts with highest levels of risk.  Collaborate with Working Group members and PWM teams to develop and implement risk mitigation recommendations by creating customized risk reports for client presentation purposes and establishing/imposing risk thresholds when appropriate   
• Partner with Compliance and Legal to respond to regulatory and audit requests
• Participate in various regional supervisory reviews of PWM accounts
• Work with Strats team to develop specific risk analytics/reporting to be used internally and/or externally with clients
• Report regularly to the US PWM Management Team and PWM Regional Management Teams in each coverage office, keeping them apprised of key client and business risks, and the steps being taken to mitigate them

 

WHERE WILL YOU MAKE AN IMPACT

Our Private Wealth Management business spans the globe, and you will be working with individuals in the following locations in the United States: Atlanta, Boston, Chicago, Dallas, Houston, Los Angeles, New York, Miami, Philadelphia, San Francisco, Seattle, Washington, D.C. and West Palm Beach.

QUALIFICATIONS

EXPERIENCE & SKILLS WE’RE LOOKING FOR

• Minimum of 3 years of experience in a financial organization, preferably in the private