CFO, Wealth management, Toronto based CIRO member (Part -Time 30-40 hrs./ month)
- Establish and maintain policies and procedures for the Dealer relating to financial IIROC requirements,
- Monitor adherence to the Dealer’s policies and procedures to provide reasonable assurance that the Dealer complies with the financial IIROC requirements,
- Identify any breaches of approved capital usage limits and report them in accordance with section 4116, and
- Report to the Ultimate Designated Person as soon as possible if there is any indication that the Dealer or any individual acting on its behalf may be in non-compliance with the financial requirements of IIROC and:
(a) the non-compliance creates a reasonable risk of harm to a client
(b) the non-compliance creates a reasonable risk of harm to the capital markets, or
(c) the non-compliance is part of a pattern of non-compliance.
The CFO is responsible for compliance with IIROC’s financial and operational rules.
This includes:
- Supervision of and responsibility for the overall accounting and regulatory financial reporting infrastructure of the Dealer, including monitoring of capital adequacy and early warning tests, free credit limits,
insurance requirements and aging of unsegregated customer fully paid and excess margin security positions,
- Final preparation, approval and responsibility for the accuracy of financial reports submitted to IIROC,
- Supervision of individuals who assist in the preparation of these reports,
- Supervision of and responsibility for individuals who are involved in the maintenance of the Dealer’s books and records from which these reports are derived, and
- Supervision of outsourced functions relating to the CFO’s responsibilities.
- Participate in executive management meetings and inquire about and review relevant contracts, ongoing liabilities, future commitments and operational matters that may impact the Dealer’s balance sheet and capital position.
- A part-time CFO’s regulatory obligations are the same as those of a full time CFO. The duties and responsibilities of the CFO still apply if the CFO works off-site or with multiple Dealers.
- Provide effective leadership to the finance team while managing financial reporting, compliance, cash flow, investments, taxation, risk, and key external relationships.