Broker Dealer Senior Operations Consultant

New York, NY

Posted: 11/01/2018 Industry: FIN Consulting Job Number: 11538081
We are looking for a Senior Operations Consultant with extensive experience operating and advising under broker-dealer guidelines and has strong knowledge of the SEC/Client rules and regulations especially on the Securities Act of 1933. The consultant needs to have a proven track record to work in a high-performing, fast-paced environment to help finance, business, and securities teams to build out and streamline an operational workflow for this growing function. This is a remote working consulting position, and is part time as needed. Responsibilities
    • Design and build-out system and operational workflows to support broker-dealer operations, including securities and cash transactions, custody, order management and portfolio display
    • Construct integrated flow of broker-dealer activities with Finance ERP ie GL and Stock Ledger
    • Support periodic SEC Rule 15c3-1 (Net Capital) and 15c3-3 (Customer Reserve Computation) calculations, security custody, order processing, FOCUS report and other regulatory filing through system automation
    • Advise on rule interpretations regarding net capital and customer protection
    • Assist in the implementation of operational processes for the daily broker-dealer operations, ensures that the net capital and customer reserves are always respected
    • Help develop strong internal control framework, daily cash / security reconciliation, monthly closing process, and reporting for the broker-dealer operations
    • Establish operational processes and controls, policies and procedures in accordance with Client rules and regulations
    • Collaborate in the creation and implementation of an internal financial accounting early warning system
    • Develop action plans to respond to alerts, warnings, and other financial risk indicators
    • Prepare staff for and attend meetings with regulatory staff members
    • Provide appropriate support for audit and examination activities
Qualifications
    • Client Series 27 is required; Series 24 is a plus
    • At least 8+ years of experience in a combination of finance and broker-dealer industry with emphasis on accounting, cash management and financial reporting.
    • Expert knowledge of SEC / Client rules and regulations and background with the Securities Act of 1933, specifically the resale of private securities
    • Strong operational and reporting experience with the SEC Net Capital and Customer Protection requirements
    • Experience in an advisory role for regulatory interpretations and compliance, accounting, cash management and accounting, accounting, treasury, legal, compliance and business reporting
    • Experience working in an operational support column for broker-dealer activities in the Finance, Compliance, and / or Operations team
    • Experience with federal and state regulatory requirements and prior investigation support
Nice-to-Haves
    • Series 24
    • Experience in using escrow accounts to facilitate securities and related cash transactions
    • Ability to identify risks and advise on action plans to prevent and mitigate the impact of the risks
    • Working knowledge of automated tools and systems available to support brokerage accounting and financial reporting
    • Professional Certification (eg CPA) with solid knowledge of US GAAP accounting for broker dealers

Nick LaPetina

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