Supervisory Risk Principal/Assistant Manager

Royal Bank of Canada•Minneapolis, MN

9h•Onsite

About The Position

As a Supervisory Risk Principal/Assistant Manager, you will be responsible for effectively supervising the daily, weekly, monthly, and periodic business activities performed by Financial Advisors and support staff in the field. You will also perform oversight of certain supervisory activities that remain the responsibilities of complex/branch management. This role serves as a direct supervisor relative to all sales, trade-related, and non-trade related activities for RBC Advantage, Unclaimed Property, Corporate Executive Services, and the International Foreign Business.

Requirements

7-10 years of industry/industry related experience.
3-5 years of direct supervisory experience in a broker/dealer.
Series 7, 63/66, 65 and Series 8 or 9/10 or equivalent combination.
Other licenses may be required.
Excellent understanding of the stock market, investments and investment programs.
Comprehensive and in-depth knowledge of investment products and strategies and their suitability for clients based on investment objectives, risk tolerance and financials.
Job Skills: Audits, Compliance, Critical Thinking, Data Gathering Analysis, Decision Making, Detail-Oriented, Financial Regulation, Industry Knowledge, Interpersonal Relationship Management, Risk Management, Strategic Thinking.

Responsibilities

Review daily trade and periodic activity via the on-line trade blotter (ProSurv) and conduct necessary investigation and follow-up as warranted, including additional review for certain foreign accounts/jurisdictions and mailing of any required exonerating letters; review all related supervisory reports.
Review and Approval of Trade Corrections (Cancel/Rebill and Errors).
Review and Approve any Trade Order Ticket/Syndicate Ticket for applicable business lines.
Responsible for notifying DOL committee of any Self-Correction reporting.
Review and approve new accounts (and options) and account updates as well as related supervisory reports.
Review & approve new Investment Advisory business and oversee the Investment Policy Monitoring.
Review Missing CIP Information Report and Mail/Image CIP Request letters– Feb/Jun/Oct.
Review all daily, weekly & monthly Workflow and Postedge reports and maintain electronically.
Review and maintain the UTMA/UGMA Minor over the Age of Custodial Termination Report.
Open Order Review – Monthly Reminder Email.
Respond to Margins Calls/Cash Calls/Money due notifications.
Monitor and assist with the completion of Reg BI items.
Review Undeliverable Mail Tracking log with focus on trade related items.
Monitor Frozen Account Activity and take action on trades that need to be busted.
Perform account triage and in-depth analysis for monthly account reviews and work with Complex Directors to ensure client contact and action steps are completed and corrective action is implemented as warranted.
Perform analysis on Inactive IAG accounts, work with complex management on a recommended course of action that confirms the client’s best interests are being served.
Supervise all employee-related activities specific to the employee’s personal accounts, outside activities, private securities transactions etc.
Review all communications with the public (excluding e-communications) including advertisements, speaking engagements etc.
Assess risk in all areas of responsibility and escalate potential problems and concerns to the appropriate parties; monitor issue through resolution.
Work with complex management on systemic weaknesses that pose risk to ensure corrective measures are implemented to improve behaviors.
Lead internal review and analysis for material sales practice violations.
Identify, propose and assist in the development of supervisory tools and procedures.
Design, implement and track warning memos when necessary; work with compliance, the Complex Director and the Division on determining when such punitive measures should be imposed.
Work with corporate and field personnel to investigate and resolve potential sales practice issues.
Act as backup to CAM for Operational Workflow approvals (disbursement of funds, journal activity, ACH set up, etc.), cross complex check deposits and 2nd approvals for large or foreign currency wires.
Communicate policy & procedure changes and other issues that impact Financial Advisors and Client Associates to effectively perform their job.
Respond to requests throughout the day from complex employees and other departments within the firm (AML, Margins, IAG Surveillance, Legal).
Prepare and coordinate the annual compliance branch inspections.
Create & implement an action plan to make necessary corrections to address deficiencies.
Ensure the firm’s AML policy & procedures are followed and respond to the department’s Enhanced Due Diligence, Client Due Diligence and surveillance requests.
Ensure all required documents are maintained and archived in the main complex office.
Review and approve Foreign Account Paperwork for International Accounts.
Stay abreast of various cross border rules with regard to new accounts & trade related activity.
Ensure that complaints are escalated to Dispute Resolution in a timely manner.
Maintain a high level of confidentiality in accordance with department, Firm and enterprise standards.
Serves as supervisory subject matter expert on firm initiatives; work with BSG leadership to design related supervisory procedures.
Maintain a high level of knowledge on industry trends and areas of focus to ensure appropriate supervisory practices are in place.