Supervisory Risk Principal

About the role

As a Supervisory Risk Principal, you will lead the firm’s first line of defense in protecting our brand while managing the risk inherent to the activities conducted by our complex/branch employees and foreign clients. This critical position involves collecting 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.

Responsibilities

• Review and approve foreign account paperwork for international accounts
• Confirm foreign client account records are appropriately set up 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 be onboarded to assess if they fit within the risk appetite and policy requirements of the company
• Ensure Anti-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

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 licenses
• 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 verbal and written communication skills

Benefits

• A comprehensive Total Rewards Program including competitive compensation and flexible benefits, such as a 401(k) program with company-matching contributions, health, dental, vision, life, and disability insurance, and paid-time off
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work
• Opportunities to build close relationships with clients
• Potential to earn more through RBC’s discretionary variable compensation program, which increases total compensation based on business performance and individual goals

Pay

The expected salary range for this position is $70,000–$130,000, depending on experience, skills, registration status, market conditions, and business needs.

Schedule

Full-time position with 40 work hours per week.

Location: Minneapolis, MN (250 Nicollet Mall)