JOB OVERVIEW
The Manager, Financial Operations is responsible for producing financial regulatory reports and supervising assigned staff that support this function. Serve as liaison supporting external auditors and regulatory bodies regarding financial regulatory reporting and oversee compliance with the SEC Financial Responsibility Rules. This role reports to the CFO of ETC Brokerage Services (ETCB).
RESPONSIBILITIES & DUTIES
- Prepares daily net capital estimates, daily stress test computations, and weekly customer reserve computations in accordance with the rules as promulgated under SEA Rule 15c3-1, SEA Rule 15c3-3 and applicable regulatory guidance.
- Prepares and files financial regulatory filings (e.g. monthly FOCUS, quarterly SSOI reports); monitors and reviews supporting general ledger, balance sheet, trial balance, income statement, reconciled bank statements and clearing statements, commission reports, and accounts payable reports.
- In conjunction with ETCB Controller (1) produces information to fulfill ETCB SEC and FINRA financial regulatory reporting requirements, (2) maintains the chart of accounts mapping between accounting systems and the FIS sub-ledger to accurately reflect the firm’s clearing activity on financial statements and regulatory reports, and (3) prepares financial reporting information for auditing and regulatory examinations.
- Prepares SEC 17H filings, calculates fidelity bond overage (annually), annual SIPC and FINRA assessments, DTCC and OCC reporting, and performs other miscellaneous reporting as required.
- Drives and documents enhanced internal controls infrastructure in accordance with SEA Rule 17a-5.
- Reviews all tasks and responsibilities of the financial regulatory reporting area and proposes changes to make the work performed more efficient and lowers operational risks due to manual processes.
- Coordinates between management and affiliated finance teams to research and resolve queries received; gathers and provides information for requests.
- Conducts quarterly box count and securities confirmations in accordance with SEA Rule 17a-13.
- In conjunction with the CFO, Controller, and CCO, maintains departmental Written Supervisory Procedures in accordance with SEC and FINRA regulatory requirements and industry standards.
- Monitors, interprets, and coordinates the ETCB implementation of policies, procedures and technologies which respond to: (1) new SEC Financial Responsibility rules, (2) applicable new FINRA rules, (3) amendments to applicable SEC and FINRA Rules, and (4) applicable regulatory guidance.
- Coordinates with external auditor and regulatory exam teams as necessary.
- Completes and/or participates in special projects as required or assigned by the ETCB CFO.
- Performs other duties as assigned
QUALIFICATIONS
- Bachelor’s degree with a concentration in Business, Finance or Accounting preferred
- 10+ years of financial services industry experience working for the SEC, FINRA, Public Accounting, and/or Broker Dealers
- Minimum 5 years of Broker Dealer clearing & carrying experience required
- Prior FinOp and/or financial regulatory reporting experience preferred
PROFESSIONAL CERTIFICATIONS
- FINRA Series 27 (Principal) and Series 99, with a clean U4 Securities record
- Certified Public Accountant is a plus
- Additional FINRA licenses may be required post hire
TECHNICAL SKILLS
To be successful in this role, you should have experience with and an understanding of the following:
- Intermediate to advanced level proficiency in Microsoft Office
- Clearing back-office system(s); FIS Phase 3 a plus
- Clearing broker dealer operating environment
CULTURAL COMPETENCIES
In addition to our core company competencies of Cultivates Innovation, Nimble Learning, Action Oriented, Collaborates, and Being Resilient, a successful candidate in this role should exhibit the following behavioral competencies:
- Strategic Mindset
- Drives Results
- Drives Vision and Purpose
- Courage
PHYSICAL DEMANDS/WORK ENVIRONMENT
This job operates in a professional office environment and routinely uses standard office equipment. While performing the duties of this job, the associate is regularly required to speak and hear. The associate is frequently required to sit for extended periods of time, as well as stand, walk, use hands and fingers, and reach with hands and arms. This job requires the ability to lift files, open filing cabinets, and bend or stand on a stool as necessary.
DISCLAIMER/ASSOCIATE ACKNOWLEDGEMENT
The above statements describe the general nature and level of work only. They are not an exhaustive list of all required responsibilities, duties, and skills. Other duties may be added, or this description amended at any time.
