Head of Credit Risk

FNZ Securities USA, headquartered in New York City, is a self-clearing broker-dealer which provides fully disclosed clearing and custody services to introducing broker-dealers and RIAs in the wealth management space. We are currently going through the application process with FINRA to become a licensed clearing broker-dealer and we expect to commence operations in 2024.

This is a fantastic opportunity for a highly experienced Credit Risk Manager to play a critical role in establishing FNZ Securities as a key player in the market. You will be key in helping to plan for and build out the operations and credit technology, processes, and team prior to commencement of operations.

Specific Role Responsibilities

Lead a team of credit professionals and provide mentorship and guidance to team members, fostering a culture of continuous learning and development.

Develop and implement credit risk policies to ensure effective risk mitigation. Assess the creditworthiness of clients, counterparties, and other potential business partners.

Establish and maintain credit policies in compliance with industry regulations. Monitor and evaluate margin levels, ensuring they align with market conditions and regulatory requirements.

Stay abreast of relevant financial regulations, ensuring the firm's credit and margin practices comply with local and international standards. Interact with regulatory bodies, responding to inquiries and facilitating audits.

Work closely with 1st line of defense partners in trading, margin, and operations to ensure seamless coordination of credit risk related issues. Collaborate with technology teams to enhance and optimize credit and margin systems.

Monitor and analyze credit exposures, identifying potential risks and recommending appropriate actions.

Generate regular reports on credit and margin exposures for senior management.

Conduct in-depth analysis to identify trends, anomalies, and areas for improvement. Develop risk assessments and market scenario hypothetical to ensure proper adherence to the firm’s risk tolerance.

Collaborate with the sales team to assess and manage potential risks associated with new client onboarding. Engage with relationship teams to discuss credit requirements and address client inquiries.

Experience Required

7+ years of industry-relevant experience managing credit risk functions in a self-clearing US broker-dealer operating in the wealth management space.

Currently holds a FINRA Series 24 license.

Deep understanding of the US securities industry and brokerage operations with experience in StreetSide operations, custody, and clearing

Demonstrated experience providing guidance and applying operational and credit risk principles and concepts.

Demonstrated ability to collaborate effectively with teams across functional boundaries to ensure efficiency of operations and effective risk management.

Willingness to adapt and respond appropriately to new demands, priorities, challenges, and obstacles.

Data driven and able to analyze metrics and trends, such as monitoring key metrics and data to evaluate performance.

Highly effective in establishing relationships with key stakeholders.

Strong communicator who is able to clearly articulate priorities and issues to senior management and teammates and to motivate and clearly communicate expectations to operations staff.

Experience managing credit at a self-clearing broker-dealer that provides trade, clearing, and custody services to introducing broker-dealers. 

Experience reporting directly to the executive management and working closely with other executives to align on credit risk strategy with the firm’s overall business strategy.

Experience managing teams in multiple locations and leveraging shared services.

About FNZ Culture 

Our culture is what drives us. It's at the heart of who we are and everything we do. It's what inspires, excites, and moves us forward. Our ambition is to create a culture for growth, one that opens up limitless opportunities for our employees, customers and the wider world. At FNZ we know that great impact is only possible with great teamwork. 

That’s why we value the strength and diversity of thought in our global team. 

The FNZ Way is the cornerstone of what we do. It is comprised of four values that set the standard for how everyone at FNZ interacts with each other, with our customers, and with all our diverse stakeholders around the world.

1. Care hard for customers and each other

Right from day one, you will work alongside exceptional, multicultural teams - experts in their respective fields - who will inspire and challenge you to make your greatest impact. 

Be part of a highly successful, rapidly growing, global business that is leading the delivery of financial services via cloud computing and partners with some of the world’s largest companies;

Working in a flexible and agile way that meets the needs of the business and personal circumstances; 

Remuneration, significant financial rewards and career advancement is based on individual contribution and business impact rather than tenure or seniority;

We provide global career opportunities for our best employees at any of our offices in the UK, EU, US, Canada, South Africa, and APAC.

Commitment to Equal Opportunities 

At FNZ, we recognise that diversity, equity and inclusion are important factors contributing to our success. We embrace the unique perspective and capabilities of our current and future employees, which will help us continue to drive innovation and achieve our business goals. Recruitment decisions at FNZ are made in a non-discriminatory manner without regard to gender, ethnicity/race, faith, age, nationality, gender identity, sexual orientation, marital status, socio-economic background, disability or military veteran status where all applicants and employees are valued and respected. 

In addition, we want to ensure accessibility needs are well supported, if you require specific support please advise us.

About FNZ

FNZ is committed to opening up wealth so that everyone, everywhere can invest in their future on their terms. We know the foundation to do that already exists in the wealth management industry, but complexity holds firms back. 

We created wealth’s growth platform to help. We provide a global, end-to-end wealth management platform that integrates modern technology with business and investment operations. All in a regulated financial institution. 

We partner with over 650 financial institutions and 12,000 wealth managers, with US$1.5 trillion in assets under administration (AUA).

Together with our customers, we help over 20 million people from all wealth segments to invest in their future.

FNZ is committed to opening up wealth so that everyone, everywhere can invest in their future on their terms. We know the foundation to do that already exists in the wealth management industry, but complexity holds firms back. 

We created wealth’s growth platform to help. We provide a global, end-to-end wealth management platform that integrates modern technology with business and investment operations. All in a regulated financial institution. 

We partner with over 650 financial institutions and 12,000 wealth managers, with US$1.5 trillion in assets under administration (AUA).

Together with our customers, we help over 20 million people from all wealth segments to invest in their future.