Managing Director, Head of Prime Finance Risk - New York City

Application Deadline:

03/13/2025

Address:

151 W 42nd Street

Job Family Group:

Capital Mrkts Sales & Service

BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

Head of Prime Finance Risk at BMO would be responsible for overseeing all risk management activities related to the Prime Brokerage business, including identifying, assessing, mitigating, and monitoring potential risks associated with client accounts, securities lending, margining, and other prime brokerage services, ensuring compliance with regulatory requirements while supporting business growth within BMO's risk appetite. 

Key responsibilities include:

• Risk Assessment and Mitigation:
  • Leading the development and implementation of a comprehensive risk framework for the Prime Brokerage business, identifying key risks such as credit risk, market risk, operational risk, and regulatory risk. 
  • Owning and designing margin models and business stress frameworks, while working closely with 2nd line of defense.
  • Conducting regular risk assessments of client portfolios, including creditworthiness analysis, concentration risk monitoring, and margin adequacy checks; and working with clients to remediate if outside risk tolerance 
  • Implementing appropriate risk mitigation strategies, such as margin adjustments, collateral requirements, and exposure limits.
  • Enhancing policies and procedures as new business opportunities evolve to ensure growth in risk conscience way
• Stakeholder Engagement:
  • Collaborating with the Prime Brokerage sales and trading teams to provide risk insights and support business initiatives while ensuring adherence to risk policies. 
  • Liaising with internal auditors and external regulators
  • Partnering with Corporate Banking, Credit Risk and Market Risk Oversight on clients, key risks, market conditions
  • Legal negotiations with clients spanning Prime Brokerage agreements, ISDA/CSA, Master Confirm Agreements and Term Facilities
• Regulatory Compliance:
  • Ensuring adherence to all relevant regulatory requirements related to prime brokerage activities, including reporting obligations and compliance with margin rules. 
  • Staying updated on regulatory changes and implementing necessary adjustments to risk management practices.
• Monitoring and Reporting:
  • Establishing robust risk monitoring processes to identify emerging risks and potential issues within the prime brokerage portfolio. 
  • Producing regular risk reports for senior management, highlighting key risk metrics and potential concerns. 
• Managing small team of risk managers

  Leading a team of risk professionals responsible for managing the Prime Brokerage risk portfolio, including assigning responsibilities, coaching, and developing talent. 

Required Skills and Experience:

• Deep understanding of financial markets, including equities, derivatives, and securities lending. 
• Extensive experience in prime brokerage risk management, including credit risk assessment, margining, and regulatory compliance. 
• Strong analytical and problem-solving skills with the ability to interpret complex data and make informed decisions. 
• Excellent communication and interpersonal skills to effectively collaborate with diverse stakeholders across the business. 
• Proven leadership abilities to manage a team of risk professionals. 
• Familiarity with relevant regulatory frameworks such as the Securities Exchange Act and FINRA rules. 

Salary:

Pay Type:

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-