Director of Brokerage Operations
This is an opportunity to join a Fintech firm specializing in many facets of the broker dealer space. You will become one of the CORE influencers in the company. As the Director of Brokerage Operations, you’ll partner with the VP of Operations, Compliance, Risk, and other Directors of Operations in overseeing the broker dealer’s day to day functions including back-office processing. The team is 100% distributed and remote. The role will be reporting directly into the VP of Operations for the U.S. Broker Dealer.
Things You Get To Do:
Participate in standing up an exceptional operational team that will support DTCC self clearing.
Ensure buy-in rules are followed by working with the margin and trading desk teams.
Implement and oversee all suspense accounts, reconciliations, and create a process to manage and monitor all aged items.
Oversee and manage staff members to ensure proper adjustments have been made against the Firm’s Stock Record and that all DTC Breaks, Illogicals, and any Firm obligations have been satisfied.
Have oversight to make sure all fails have been addressed in accordance with FINRA and DTCC requirements.
Implement a process to ensure all Finra extensions required were documented and completed timely.
Manage a team of operations control personnel to ensure all requirements around SEA 15c3-3 are adhered to based upon timelines within the rules specifically around possession or control.
Monitor and supervise daily processing and activity in accordance with SEC and
FINRA broker dealer rules and regulations.
Strong attention to detail and ability to understand upstream and downstream
impacts to operational processes.
Communicating effectively both written and verbally will be a key to your
Provide and create procedures and processes which will support operational functions and efficiencies.
Build and maintain strong working relationships across the organization.
Help guide the firm to T+1 trade settlement.
Ad hoc duties and projects as assigned.
Who You Are (Must-Haves):
Bachelor’s degree in Business a plus, or equivalent experience.
10+ years in broker dealer and clearing correspondent back office functions specifically focused in DTCC settlements and Operations Control.
Series SIE, 99, 7 and 24 licenses are required.
Knowledge of Brokerage Clearing operations and how functions must be performed in order to support the firms DTCC Settlement process, Reconciliations, NSCC Transfers, Reg SHO and other possession or control related tasks.
Knowledge of Financial industry rules, regulations and laws relating to DTCC settlement and rules governing possession or control (SEA 15c3-3)
Possess expert knowledge of U.S. securities back office operations functions of a broker-dealer and/or carrying firm regulations.
Thorough understanding and skills to assist the firm with broker dealer correspondent clearing functions, and be able to apply those skills to the day-to-day operations of the business.
Able to easily work with counterparties such as The DTCC and The OCC custodians.
Ability to Identify relationships, draw logical conclusions and interpret results for use in decision making
Excellent written and verbal communication skills to properly communicate policy and procedures.
Ability to work independently in a remote environment with attention to detail as well as collaboratively within a team environment
Provide recommendations for continuous improvement that will support our client relationship and will provide operational efficiencies.
Ability to juggle multiple priorities in a fast-paced environment
Must be able to follow company tenets of:
Have basic knowledge of Slack, SQL, metabase, or other database coding language
Easily adapt between Microsoft and Google document and spreadsheet solutions
Be flexible to assist other functional areas when necessary
Support department initiatives and company vision
Must be able to change and adapt quickly to the ever-changing regulatory landscape of the financial industry
Who You Might Be (Nice-to-Haves):
Enjoys a fast paced environment, challenges and takes ownership of new responsibilities.
Familiarity with SQL and Python programming languages in order to write and run queries as needed for day-to-day business needs.
Expert in the field of standing up an operation control group for oversight and mandatory reconciliations needed for adherence to rules and regulations requirements.
How We Take Care of You:
Competitive Salary & Stock Options
Benefits: Health benefits start on day 1. In the US this includes Medical, Dental, Vision. In Canada, this includes supplemental health care. Internationally, this includes a stipend value to offset medical costs.
New Hire Home-Office Setup: One-time USD $500
Monthly Stipend: USD $150 per month via a Brex Card
Work with awesome hard working people, super smart and cool clients and innovative partners from around the world
Alpaca is proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse workforce.
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