Director, Risk Monitoring

FINRA•Jersey City, NJ

4d•$154,400 - $299,600•Hybrid

About The Position

This role is responsible for ensuring the implementation and completion of the Risk Monitoring Program for a specific Organizational Business Model or Business Segment through daily management of Risk Monitoring Analysts. The Director will actively supervise the activities of Risk Monitoring Analysts, ensuring the timeliness, precision, and quality of risk assessments, related reports, intelligence, and regulatory responses. This includes overseeing the development of risk-based Regulatory Responses and evaluating the adequacy of firm corrective actions. The Director will implement and provide direction on the goals and objectives for the risk monitoring program, collaborating with aligned leadership and managing staff to meet these goals. They will ensure exam strategies include applicable risks and that corrective action is taken. Day-to-day management involves directing the completion and outcome of continuous real-time risk identification for a portfolio of member firms, ensuring accurate prioritization of risk through an understanding of firm business activities, associated risks, and mitigation controls. The role also involves serving as a primary resource to the Senior Director for updates, identifying and surfacing key or emerging issues, and communicating decisions. Responsibilities include overseeing coordination with the Membership Application Program (MAP) group, ensuring the timeliness and quality of risk monitoring work in MAP applications, and resolving material business changes. The Director will represent the Organizational Business Model/Segment in complex and elevated risk FINRA member interviews, and develop and coach Risk Monitoring staff through development plans, performance evaluations, and overall performance management. They will serve as a proxy for the Senior Director as needed and participate in interviewing, onboarding, and retaining staff. Additionally, the role involves participating in industry conferences, managing support for special projects, surveys, committee assignments, and technology initiatives impacting Risk Monitoring. The position requires demonstration of FINRA’s values and collaboration in furtherance of FINRA’s mission.

Requirements

Bachelor's Degree or an equivalent combination of education and experience required.
Major in Accounting, Finance, Economics, Business Administration, or related fields preferred.
Demonstrated advanced working knowledge of the securities and/or financial-related industry required with substantive experience related to a FINRA firm grouping preferred.
Has participated in or led Finance or Business specific projects, directing Associates; Can lead a variety of projects across multiple disciplines/businesses.
FINRA Securities Industry Essentials (SIE) certification or acceptable industry equivalent certification is required upon hire or within 16 months of the start date of the assigned SIE training cohort.
Strong working knowledge of securities industry rules, regulations and related guidelines, including:
Advanced knowledge of FINRA's nine risk fundamentals
Advanced knowledge of FINRA's nine risk fundamentals
Advanced knowledge of securities rules and regulations
Advanced knowledge of firm business models, business lines, customer bases, products and services
Intermediate-to-Advanced knowledge of U.S. GAAP accounting standards
Ability to anticipate how material industry risks are manifested, identify trends and patterns for firms in a Firm Group or sub-group, design and implement methods necessary for proactive risk identification and advise and consult effective regulatory responses necessary to address such risks.
Proficiency of Microsoft Office suite of applications.
Exemplifies the FINRA Leadership Characteristics and serve as a role model for staff in the department.
Strong leadership skills, including the ability to deal effectively with people, to make decisions, and find solutions, to encourage and support change, and to deal with problem situations involving member firms and individuals in situations.
Ability to manage risk monitoring execution staff and effectively influence while providing advice and guidance.
Ability to manage a team of direct reports responsible for execution of risk monitoring program components for a portfolio of firms. Provides support, coaching, and counsel to the team. Manages the development of team members by authoring and assigning goals, conducting periodic coaching and feedback reviews, and administering annual performance evaluations.
Work independently, possess strong project management and organizational skills.
Self-starter and able to administer a number of complex assignments related to their firm portfolio, as well as special projects, concurrently, including unstructured assignments that require autonomy and independent judgment.
Excellent written and verbal communication skills, including interpersonal skills and presentation skills.
Establish and maintain effective working relationships at all levels inside and outside the organization.
Strong interpersonal, negotiation, and diplomacy skills, with a high comfort level in relations with FINRA senior staff, while directing Risk Monitoring execution staff from multiple locations.

Nice To Haves

MBA, JD, other graduate degree and/or relevant industry certification(s) preferred.

Responsibilities

Actively supervises the activities of Risk Monitoring Analysts in their conduct of risk monitoring activities, front-line responsibility for timeliness, precision and quality of risk assessments, related reports, intelligence, and regulatory responses shared with Risk Monitoring, Examinations and other departments for a portfolio of firms within an Organizational Business Model or Business Segment.
Oversees development of risk-based Regulatory Responses that address identified risks and evaluation of the adequacy of firm corrective actions to assist with Examination Strategy.
Implements and provides direction on the goals and objectives for a risk monitoring program specific to firms in an Organizational Business Model or Business Segment’s Risk Monitoring team, effectively collaborates and coordinates with aligned Risk Monitoring leadership, while managing activities of downline staff to ensure the goals and objectives are met.
Ensures exam strategy includes applicable risks and that corrective action is taken.
Day-to-day management, directing completion and outcome of continuous real-time risk identification for a portfolio of member firms. Ensures the accurate prioritization risk, through an understanding of firm business activities, the risks associated with those business activities and the controls in place to mitigate those risks; oversees development and execution of regulatory responses (i.e., firm meetings, exams, heightened supervision, etc.).
Serves as a primary resource to the Senior Director for updates; responsible for identifying and surfacing key or emerging issues within business segments, and briefings on current firm information. Actively communicates, supports and implements corporate, department and team decisions.
Responsible for overseeing coordination with Membership Application Program (MAP) group, timeliness and quality of risk monitoring work in MAP applications, and resolving other material business changes. In addition, represent the Organizational Business Model/Segment in complex and elevated risk FINRA member interviews.
Develops and coaches Risk Monitoring staff, to include development plans, performance evaluations, and overall performance management.
Serves as a proxy for the Senior Director as needed in meetings on firms or examinations, as well as day-to-day interactions with external regulatory agencies and other related stakeholder organizations.
Along with risk monitoring senior management, responsible and accountable for the process of interviewing, onboarding and retaining staff.
Participates in industry conferences and meetings in support of FINRA outreach initiatives.
Manages and provides direction to support special projects, surveys, committee assignments and technology initiatives impacting Risk Monitoring (i.e. the identification of technology needs by Risk Monitoring and the development of Business Requirements).
Demonstration of FINRA’s values.
Collaboration, both in-person and virtually, in furtherance of FINRA’s mission of investor protection and market integrity.

Benefits

Discretionary bonus
Overtime pay
Comprehensive health, dental and vision insurance
Basic life, accidental death and dismemberment, supplemental life, spouse/domestic partner and dependent life, and spouse/domestic partner and dependent accidental death and dismemberment, short- and long-term disability, long-term care, business travel accident, disability and legal insurance
Immediate participation and vesting in a 401(k) plan with company match
FINRA-funded retirement contribution
Tuition reimbursement
Commuter benefits
Adoption assistance
Backup family care
Surrogacy benefits
Employee assistance
Wellness programs
Generous time-off program starting at 15 days of paid time off (increasing with years of service, up to 25 days)
5 personal days
9 sick days
Two volunteer service days
Military leave
Jury duty leave
Bereavement leave
Voting and election official leave
Care of a family member leave
Childbirth and parental leave
Nine paid holidays