Role Overview for Chief Risk Officer with a Global Brokerage – New York, NY
JRG Partners is proud to partner with a premier, Tier-1 global brokerage firm in their search for a distinguished and strategic Chief Risk Officer (CRO). This pivotal executive leadership position, based in the heart of the financial world, New York, NY, is responsible for the stewardship of the firm’s entire risk management landscape. The successful candidate will be a visionary leader with an impeccable track record, tasked with architecting and executing a comprehensive Enterprise Risk Management (ERM) framework that aligns with the firm’s strategic objectives, regulatory requirements, and dynamic market conditions.
Reporting directly to the Chief Executive Officer and the Board of Directors’ Risk Committee, the CRO will serve as the ultimate authority on all risk-related matters. This role demands a unique blend of deep technical expertise, strategic foresight, and exceptional leadership to navigate the complexities of global financial markets. The CRO will be instrumental in fostering a robust risk-aware culture that permeates every level of the organization, ensuring that risk considerations are embedded in all business decisions and strategic initiatives. You will be responsible for identifying, assessing, monitoring, and mitigating all material risks facing the firm, including market, credit, operational, liquidity, legal, regulatory, and reputational risks.
This is a transformative opportunity to shape the future of a leading financial institution. The CRO will not only protect the firm’s capital and reputation but also act as a strategic partner to the business, enabling sustainable growth and innovation by providing critical insights and risk-based guidance. You will lead a global team of highly skilled risk professionals, setting the vision and direction for the function while mentoring the next generation of risk leaders. If you are a seasoned risk executive with the gravitas, expertise, and drive to lead a world-class risk function, we invite you to explore this exceptional career opportunity.
Key Responsibilities of Chief Risk Officer with a Global Brokerage – New York, NY
The Chief Risk Officer will have a broad and critical mandate, encompassing the full spectrum of risk management activities. Key responsibilities include, but are not limited to:
Enterprise Risk Management (ERM) Framework
Design, implement, and continuously enhance the firm’s ERM framework, policies, and procedures to ensure they are comprehensive, effective, and aligned with industry best practices and regulatory expectations.
Risk Governance and Strategy
Lead the firm’s risk governance structure, including chairing key risk committees and presenting detailed risk analysis to the Executive Committee and the Board. Develop and maintain the firm’s risk appetite statement and tolerance limits, ensuring they are well-defined and consistently applied.
Multi-Faceted Risk Oversight
Provide expert oversight across all principal risk categories:
- Market Risk: Oversee the measurement and management of risks arising from changes in market prices, including interest rates, foreign exchange rates, equity, and commodity prices. Supervise VaR, stress testing, and scenario analysis models.
Credit Risk
Manage counterparty credit risk across trading and lending activities. Establish credit policies, limits, and approval processes, and oversee the monitoring of credit exposures and portfolio quality.
Operational Risk
Develop and lead the operational risk management framework, including risk and control self-assessments (RCSAs), key risk indicators (KRIs), loss data collection, and scenario analysis. Address risks related to technology, cybersecurity, third-party vendors, business continuity, and internal fraud.
Liquidity Risk
Ensure the firm maintains adequate liquidity to meet its obligations under both normal and stressed conditions. Oversee liquidity risk measurement, stress testing, and contingency funding plans.
Regulatory & Compliance Risk
Partner with the Chief Compliance Officer to ensure adherence to the complex web of global financial regulations (e.g., SEC, FINRA, CFTC, Dodd-Frank, MiFID II). Proactively identify and mitigate emerging regulatory risks.
Quantitative Analysis and Modeling
Oversee the development, validation, and implementation of all risk models. Ensure the integrity and effectiveness of quantitative tools used for risk measurement, capital adequacy assessment (ICAAP), and stress testing.
Leadership and Team Development
Lead, mentor, and develop a high-performing global risk management organization. Attract, retain, and cultivate top talent, fostering an environment of collaboration, intellectual curiosity, and professional excellence.
Stakeholder Management
Serve as the primary point of contact for regulators, rating agencies, and auditors on all risk-related matters. Build and maintain strong, credible relationships with these key external stakeholders.
Cultural Transformation
Champion a proactive and disciplined risk culture throughout the firm. Ensure that risk management is not just a function but a shared responsibility, empowering all employees to identify and manage risks effectively.
Requirements for the Chief Risk Officer with a Global Brokerage – New York, NY
The ideal candidate will be a distinguished leader with extensive experience and a deep, nuanced understanding of the global financial landscape. Specific qualifications include:
Experience
A minimum of 20 years of progressive experience in risk management within a large, complex financial services firm, such as a global investment bank, brokerage, or asset manager. At least 10 years in a senior leadership capacity, with proven experience managing a large, geographically dispersed team.
Educational Background
An advanced degree (MBA, PhD, or Master’s in Finance, Economics, or a quantitative field) is strongly preferred. A bachelor’s degree from a top-tier university is required.
Technical Expertise
Comprehensive knowledge of all major risk disciplines (market, credit, operational, liquidity). Deep familiarity with sophisticated financial products, trading strategies, and capital markets.
Regulatory Acumen
In-depth understanding of the global regulatory environment, including rules and guidance from key regulators in North America, Europe, and Asia. Demonstrable experience in successfully navigating complex regulatory examinations and inquiries.
Quantitative Skills
Strong quantitative and analytical capabilities, with a thorough understanding of risk modeling, statistical analysis, and financial engineering. Experience in model risk management is essential.
Leadership Qualities
Exceptional leadership and management skills with a proven ability to influence and drive change across a large organization. The ability to articulate a clear vision, inspire a team, and build consensus among senior stakeholders.
Communication Skills
Outstanding written and verbal communication skills. Must possess the executive presence and gravitas to effectively present complex risk concepts to the Board of Directors, senior executives, regulators, and clients.
Certifications
Professional certifications such as the Financial Risk Manager (FRM) designation from the Global Association of Risk Professionals (GARP) or Chartered Financial Analyst (CFA) are highly desirable.
Benefits & Perks Offered
Our client is committed to attracting and retaining top-tier executive talent by offering a highly competitive and comprehensive compensation and benefits package. This includes:
Executive Compensation
A highly competitive base salary complemented by a significant annual performance-based bonus and a long-term incentive plan (e.g., restricted stock units, performance shares) designed to reward strategic contributions and long-term value creation.
Comprehensive Health & Wellness
Premier medical, dental, and vision insurance plans for you and your eligible dependents. The package includes executive physical programs, mental health support, and wellness resources to promote a healthy work-life balance.
Retirement & Financial Planning
A robust 401(k) retirement plan with a generous company match. Access to personalized financial planning services and wealth management resources.
Generous Paid Time Off
A substantial paid time off (PTO) policy, including vacation, sick days, and personal days, as well as a generous parental leave policy to support growing families.
Professional Development
A strong commitment to your continued growth, with support for executive education, industry conferences, and professional certifications.
Relocation Support
A comprehensive relocation package is available for exceptional candidates who are not currently based in the New York metropolitan area.
Perks
Additional executive-level perks may include club memberships, subsidized transportation, and other bespoke benefits.
How to Apply
This is a retained, confidential search. If you are a transformative risk leader ready to take on a career-defining challenge, we encourage you to apply. To express your interest, please submit your resume and a cover letter detailing your qualifications and strategic vision for this role. All applications will be treated with the strictest confidence.
JRG Partners is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all candidates and employees. We believe that a diverse team is a strong team, and we welcome applicants from all backgrounds.
This executive search is being conducted exclusively by JRG Partners’ Financial Services practice. Please direct all inquiries and applications through our designated portal to ensure your candidacy is reviewed promptly by the dedicated search committee.
