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Manager, Margin Supervision



Posted on Wednesday, January 31, 2024
Your career is an investment that grows over time!
Wealthsimple is on a mission to help everyone achieve financial freedom by reimagining what it means to manage your money. Using smart technology, we take financial services that are often confusing, opaque and expensive and make them transparent and low-cost for everyone. We’re the largest fintech company in Canada, with over 3 million users who trust us with more than $30 billion in assets.
Our teams ship often and make an impact with groundbreaking ideas. We're looking for talented people who keep it simple and value collaboration and humility as we continue to create inclusive and high-performing teams where people can be inspired to do their best work.
We are seeking a Manager, Margin Supervision to perform supervisory activities for margin lending and effectively manage regulatory, financial and reputational risk to the business.

In this role, you will have the opportunity to:

  • Monitor client margin accounts on a daily basis to ensure account margin is on-side. Ensure remedial actions are taken on accounts that are under-margined based on established policies and procedures.
  • Monitor securities concentration, both at a client account level and firm level to ensure excessive concentration is being managed appropriately by monitoring liquidity, volatility, security specific fundamentals, specific account dynamics and the results of stress tests.
  • Ensure remedial actions are taken against highly concentrated accounts, if necessary, based on established policies and procedures.
  • Ensure “house” margin requirements are adjusted for securities, by assessing the results of modeled outputs, ongoing market conditions and the resulting impact on any under-margined exposure.
  • Perform periodic testing on client margin accounts to ensure that Market Values, Loan Values, Margin and Equity balances are being calculated appropriately and escalate issues to stakeholders in a timely manner.
  • Perform periodic testing to ensure that the automated client margin account opening process is working as intended, based on established criteria.
  • Prepare relevant presentation materials on margin lending activities for oversight committees.
  • Identify gaps and support report and system changes as required.
  • Review and assess policies and procedures and recommend enhancements as the margin program evolves.
  • Keep abreast of and ensure compliance with all CIRO, FINTRAC and other regulatory requirements.
  • Support the authoring and review of margin-related client communications and educational materials.
  • Support information and documentation requests as part of external audits (e.g, CIRO FinOps).
  • Build solid relationships across Product, Compliance, Risk, Finance, Operations to ensure that there are strong feedback channels to continuously improve the margin monitoring framework, ensuring risk is appropriately monitored, reported and remediated in a timely manner.

Required skills:

  • Completion of the Investment Dealer Supervisor Course (IDSC), Derivatives Fundamentals and Options Licensing Course (DFOL) and Options Supervisor Course (OPSC). If not already registered with CIRO, the successful candidate will be required to register upon hiring.
  • 3 - 5 years of experience working for an investment dealer in a similar capacity.
  • Completion of added CSI courses, CFA, FRM a plus.
  • Margin expertise and excellent knowledge of complex option strategies and their associated risks. In depth knowledge of CIRO IDPC 5000 rules pertaining to margin requirements, particularly on equities and options.
  • Data and analytics - strong analytical and problem-solving skills with superior attention to detail. Ability to retrieve and analyze data using SQL.
  • A strong problem solver with extraordinary judgment and ability to navigate through uncertainty.
  • People leadership - ability to recruit and motivate a strong team as the margin program expands; possess a warm, direct and growth-mindset leadership approach.
  • Collaboration - excellent interpersonal skills and willingness to work in collaboration with various team members.
  • Communication - Speaks plainly and truthfully. Communicates complex ideas in a simple and easy-to-understand way.
Why Wealthsimple?
🤑 Competitive Salary with top-tier health benefits and life insurance
📈 Retirement savings matching plan using Wealthsimple Work
🌴 20 vacation days per year and unlimited sick and mental health days
📚 Up to $1500 per year towards wellness and professional development budgets respectively
🛫 90 days away program: Employees can work internationally in eligible countries for up to 90 days per calendar year
🌎 A wide variety of peer and company-led Employee Resource Groups (ie. Rainbow, Women of Wealthsimple, Black @ WS)
💖 Company-wide wellness days off scheduled throughout the year
We’re a remote-first team, with over 1000 employees coast to coast in North America. Be a part of our Canadian success story and help shape the financial future of millions — join us!
Read our Culture Manual and learn more about how we work.
DEI Statement
At Wealthsimple, we are building products for a diverse world and we need a diverse team to do that successfully. We strongly encourage applications from everyone regardless of race, religion, colour, national origin, gender, sexual orientation, age, marital status, or disability status.
Accessibility Statement
Wealthsimple provides an accessible candidate experience. If you need any accommodations or adjustments throughout the interview process and beyond, please let us know, and we will work with you to provide the necessary support and make reasonable accommodations to facilitate your participation. We are continuously working to improve our accessibility practices and welcome any feedback or suggestions on how we can better accommodate candidates with accessibility needs.