Counterparty Credit Risk Associate

Citizens Bank • New York, NY

258d • $111,240 - $150,000

About The Position

Citizens JMP Securities, Inc., Citizens Institutional Broker-Dealer, is seeking a Broker-Dealer Credit Risk Operations Associate to assist with Non-Bank Financial Institutions, including Insurance Companies, Broker-Dealers, Investment Managers, Hedge Funds, Mutual Fund Families, and others. In this role, you will support the establishment, monitoring, and reviewing of Credit Risk methodology for counterparties on an individual, sector, and portfolio basis. This involves utilizing market data, collaborating with the Citizens Model Risk team, and gaining an understanding of trading businesses such as Equities, Options, High Yield Bonds, and Derivatives via ATM Forwards. You will help build out the current SEC Rule 15c3-5 (the Market Access Rule) program by working with business partners from trading, Compliance, and Trading Operations.

Requirements

• Bachelor's degree in finance, accounting, or a related field.
• 1-3 years of experience in finance, credit risk, or trading.
• Knowledge of Market Access Rule 15c3-5 required.

Nice To Haves

• FINRA Licenses 7 preferred.
• Basic analytical skills, including familiarity with programming and query languages (e.g., SQL) for data analysis.

Responsibilities

• Establish and monitor counterparty limits (notional, single order, share quantity).
• Establish market routing limits (ADV %, MAX Price).
• Enhance WSPs for Market Access controls.
• Assist in providing real-time counterparty limits during client onboarding and conduct annual portfolio reviews of active counterparties.
• Ensure proper controls are in place to systematically limit the financial exposure of the broker-dealer that could arise because of market access.
• Ensure compliance with all regulatory requirements applicable to market access.
• Prepare timely and accurate reports to follow up on monitoring results for trading activity and limit requests.
• Maintain credit files and folders to ensure accuracy for internal audit reports and credit quality control.
• Use Excel to coordinate spreadsheets and information related to trading systems.
• Collaborate with trading desks to gather financial data and information from clients to support appropriate limit setting.
• Analyze quality risk indicators (trends, variations, problems) to help minimize losses (less complex analysis).

Benefits

• Competitive pay.
• Comprehensive medical, dental and vision coverage.
• Retirement benefits.
• Maternity/paternity leave.
• Flexible work arrangements.
• Education reimbursement.
• Wellness programs.
• Paid time off policy exceeds the mandatory, paid sick or paid time-away policy.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree