Risk Manager - Algo Trading Risk Governance

Work Location :

New York, New York, United States of America

Hours:

40

Line of Business:

Business Management, Strategy & Support

Pay Detail:

$95,000 - $160,000 USD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description:

Preferred Qualifications

Department Overview

TDS Governance & Controls team (TDS G&C) is accountable to perform the 1B risk function (1st Line of Defense) supporting all TD Securities (TDS) businesses including Global Markets, Infrastructure, and Corporate Investment Banking (CIB).

Job Description

This role is part of Algos, Models & Business Managed Tools team within TDS G&C. The team works very closely with business heads across all Global Markets businesses, asset classes, and regions. The team is also the point of contact for key internal partners including Algo Risk Control (ARC), Model Risk, Model Validation, Compliance, Audit, and regional leadership.

The purpose of this role is to build/enhance the Algo Governance program.

Algo Governance Program – work with Algo/eTrading businesses globally while partnering with 2nd Line functions including Algo Risk Control (ARC), Compliance, Operational Risk, and Model Validation. The program covers all Global Markets businesses and asset classes including Foreign Exchange (FX), Fixed Income (FI), and Equities. Main accountabilities include, but are not limited to:

• Enhance current change management processes to increase speed to market while aligning with risk appetite and regional requirements.

• Along with the ARC team, establish clear roles and responsibilities for managing Algo Trading activities across the Three Lines of Defense.

• Establish monitoring framework for Algo trading activities and setup a process to regularly review and assess monitoring tools and processes.

• Work with 2nd Line partners to regularly assess the risks associated with Algo trading activities, and to establish a framework to risk assess each Algo.

• Enhance the Algo Inventory including adding appropriate attributes and designing a solution to maintain the inventory (e.g. Confluence).

• Develop procedures for Issues Management including the timeline identification, escalation, and remediation of Operational Risk Events and regulatory violations.

• Collaborate with Global Market Supervision, business heads, Vendor Management, and ARC to improve transparency and monitoring of Third-Party owned/developed Algos.

Job Requirements

• Direct experience with Algo Trading Risk in a 1st or 2nd line function.

• Risk management experience in a 1st or 2nd line function.

• Working knowledge of capital markets asset classes (e.g. fixed income, FX, equity/FI/FX derivatives) and regulatory environment.

• Strong communication skills with the ability to build relationships at multiple levels across both 1st line businesses and enterprise partners including 2nd line teams and audit.

• Advanced abilities in making decisions using a risk-based approach and articulating the rationale behind those decisions to various audiences.

Manage a diverse portfolio of business management activities for complex or high-risk functional area(s) and implement policies / processes and/or initiatives to meet business management, strategy and governance objectives. Interfaces regularly with management in the delivery of work activities.

Depth & Scope:

• Provides people management leadership by hiring the best talent, setting goals, developing staff, managing employee performance and compensation decisions, promoting teamwork, and handling any/all disciplinary actions, as required

• Works autonomously and accountable for acting as a lead within a specialized business management function and may provide work direction to others

• Provides seasoned specialized knowledge, advice and/or guidance to various stakeholders and team members

• Scope of role may have enterprise impact

• Focuses on short to medium-term issues (e.g., 6-12 months)

• Undertakes and completes a variety of complex projects and initiatives requiring specialist knowledge and/or the integration of cross functional processes within own area of expertise

• Oversees and/or independently performs tasks from end to end

Education & Experience:

• Undergraduate degree

• 7+ years relevant experience

Customer Accountabilities:

• Contributes to the strategic direction of the business management function and plays a key role in the development and implementation of strategies in support of the overall business strategy

• Plans, leads, manages, and / or oversees a diverse set of work activities requiring alignment across multiple areas

• Leads / manages the integrated implementation of policies / processes / procedures / changes in across multiple functional areas

• Provides direction and/or input to complex, wide ranging enterprise or cross-function / business projects/initiatives as a subject matter expert and where necessary participates in identifying, designing and testing solutions and supporting the implementation

• Facilitates key discussions and provides thought leadership to executive audience (output is roadmap and/or strategic plan/ deliverables/frameworks/ short to long term goals etc.)

• Leads partner to management / leadership and respective teams for area of specialization with industry, external and internal, enterprise and business awareness; recognizing and anticipating emerging trends and; identifying issues and opportunities and recommending action to senior management

• Works effectively with multiple teams across a broad spectrum of initiatives and functional domains, influencing and aligning others as needed

Shareholder Accountabilities:

• Adheres to enterprise frameworks and methodologies that relate to business management activities for own area

• Actively manages relationships with corporate and / or control functions and ensures alignment with enterprise and / or regulatory requirements

• Keeps abreast of emerging issues, trends, and evolving regulatory requirements and assesses potential impacts to the Bank

• Assesses / identifies key issues and escalates to appropriate levels and relevant stakeholders where required

• Maintains a culture of risk management and control, supported by effective processes and sound infrastructure an in alignment with risk appetite

• Ensures business operations are in compliance with applicable internal and external requirements (e.g., financial controls, segregation of duties, transaction approvals, and physical control of assets).

• Participates in cross-functional / enterprise initiatives as a subject matter expert helping to identify risk / provide guidance for complex situations

• Leads relevant governance meetings or committees and related deliverables / outcomes

• Leads / facilitates and / or implement action / remediation plans to address performance/risk/governance issues

Employee/Team Accountabilities:

• Provides thought leadership and/or industry knowledge for own area of expertise

• Supports a positive work environment that promotes service to the business, quality, innovation, and teamwork and ensure timely communication of issues/ points of interest

• Identifies and recommends opportunities to enhance productivity, effectiveness, and operational efficiency

• Works effectively as a team, supporting other members of the team in achieving business objectives and providing client services

• Participates in knowledge transfer within the team and business units

Who We Are

TD Securities offers a wide range of capital markets products and services to corporate, government, and institutional clients who choose us for our innovation, execution, and experience. With more than 6,500 professionals operating out of 40 cities across the globe, we help clients meet their needs today and prepare for tomorrow. Our services include underwriting and distributing new issues, providing trusted advice and industry-leading insight, extending access to global markets, and delivering integrated transaction banking solutions. In 2023, we acquired Cowen Inc., offering our clients access to a premier U.S. equities business and highly-diverse equity research franchise, while growing our strong, diversified investment bank. We are growth-oriented, people-focused, and community-minded. As a team, we work to deliver value for our clients every day.

Our Total Rewards Package

Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals. Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition. Learn more (http://hrportal.ehr.com/tdtotalrewards)

Additional Information:

We’re delighted that you’re considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we’re committed to providing the support our colleagues need to thrive both at work and at home.

Colleague Development

If you’re interested in a specific career path or are looking to build certain skills, we want to help you succeed. You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. Whether you have a passion for helping customers and want to expand your experience, or you want to coach and inspire your colleagues, there are many different career paths within our organization at TD – and we’re committed to helping you identify opportunities that support your goals.

Training & Onboarding

We will provide training and onboarding sessions to ensure that you’ve got everything you need to succeed in your new role.

Interview Process

We’ll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation

If you are an applicant with a disability and need accommodations to complete the application process, email the TD Bank US Workplace Accommodations Program at USWAPTDO@td.com . Include your full name, best way to reach you, and the accommodation needed to assist you with the application process.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Federal law prohibits job discrimination based on race, color, sex, sexual orientation, gender identity, national origin, religion, age, equal pay, disability and genetic information.