Supervisory Risk Principal

Royal Bank of Canada•Minneapolis, MN

9d•Onsite

About The Position

As a Supervisory Risk Principal, you will be responsible for collecting the required documentation for foreign client account onboarding, applying Firm policy requirements for foreign accounts and identifying/escalating identified risks to the Business Supervision Group and Complex Management. This role is a critical first line of defense position leading the firm’s efforts to protect our brand while managing the risk inherent to the activities conducted by our complex/branch employees and foreign clients.

Requirements

5-7 years of industry related experience
3-5 years of direct supervisory risk experience in a broker/dealer
Series 7, 66 and 9/10
Excellent understanding of AML Customer Due Diligence rules
Comprehensive and in-depth knowledge of investment products and strategies and their suitability for clients based on investment objectives, risk tolerance and financials
An understanding of the securities industry’s regulatory environment and related policies and procedures
Strong and verbal and written communications skills

Responsibilities

Review and approve foreign account paperwork for international accounts
Confirm foreign client account records are appropriately setup on account opening systems
Confirm the client resides in an approved foreign jurisdiction
Confirm the Advisor is approved for the intended foreign jurisdiction where the client resides
Assign cross border training for new International Financial Advisors (IFA)
Confirm the IFA has been provided the appropriate cross border rules for the intended foreign jurisdiction and obtain the IFA’s attestation regarding their understanding of them
Assess risk in all areas of responsibility and escalate potential problems and concerns to the appropriate parties; monitor issues through resolution
Work with complex management on new recruits that have foreign clients intended to onboarded to assess if they fit within the risk appetite and policy requirements of the company
Ensure Anit-Money Laundering (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 appropriately
Stay abreast of various cross border rules with regard to new accounts & expected trade related activity
Maintain a high level of confidentiality in accordance with department, business unit and enterprise standards
Serve as a 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