Position Purpose: In this role, the individual will be responsible for enhancing the review process, and conducting comprehensive investigations (as needed) on Low Price Security (“LPS”) activity to detect potential fraud, market manipulation, and/or other financial crime schemes. Expert level knowledge of Equity Capital Markets is a must. The Investigator will utilize internal and external data and resources for investigative and research purposes. The individual will also be responsible for enhancing LPS trade surveillance monitoring processes, using available analytics, risk scoring and surveillance reporting. Combined logic should be applied during the review process based on holistic information derived from surveillance and transactional monitoring data.
They will be working and collaborating with AML/Compliance, Operations and Equity Capital Markets Desk Heads through all aspects of applying necessary measures during the review process. The individual will apply expertise and sound rationale in order to help identify patterns of suspicious behavior through comprehensive research and analysis. They must be detail oriented, organized, and possess effective communication skills.
- The individual will perform ongoing Low Price Security surveillance reviews on trading activity (Equity Capital Markets) via data sources including: Pershing Large Volume Liquidation Reports in DVP/RVP (Source: NETX360 Report Center), Power BI’s Custom LPS Reports, Pershing LPS report – Daily & Monthly, Broadcort LPS Report (Daily, Bi-weekly & Monthly), and utilize other applicable ad hoc data where needed. This process, and analysis will also be fully detailed in the enhanced DTPs. DTPs will address steps taken on isues requiring further action, as well as escalations and controls applied when trading activity is not in line with the Firm’s LPS Policy. The process will detail the flow of documented reviews conducted. A monthly metrics report should also be produced to reflect volumes, issues arising from reviews, controls applied and actions taken.
- The individual will enhance and implement written LPS surveillance and transaction monitoring desktop procedures (“DTPs”) to identify and detect potentially suspicious activity and anomalous behavioral patterns. The DTPs should detail the day-to-day processes on reviews conducted, methods of analysis used, material and tools applied, rationale approach for dispositions, escalation actions and controls. Procedures should also address potential red flags and typologies relative to the broker dealer’s business model. They will also ensure the procedures are reviewed and updated as needed (at a minimum annually).
- The individual will assist in enhancing day-to-day processes relating to surveillance monitoring
- They will communicate with senior business stakeholders (Equity Traders and Sales) on a regular basis in relation to activity requiring additional information and advise front office on control measures required.
- Based on outcome of reviews, as needed, the individual will evaluate if a client risk rating enhancement is required and work with onboarding and AML team members to ensure EDD is implemented accordingly.They will also evaluate if enhanced monitoring is needed and implement accordingly.
- The individual will monitor accounts that have been decisioned for exits and ensure the offboarding process has been completed. They will follow up as needed with the business and operations. Additionally, s/he will ensure the exited relationships are added to unwanted client list (blacklist).
- The individual will develop and prepare monthly reports to be presented to Senior Management
- Must have expert level knowledge of Equity Capital Markets and ability to assess and identify potential suspicious activity in equity low-priced transactions
- 5 years of financial services experience in Compliance, with strong product knowledge of equities, fixed income, options/derivatives, including speculative investment vehicles (low price securities).
- Solid expertise in conducting trade surveillance reviews, investigations, and monitoring of activity.
- Efficient working knowledge of BSA AML Laws and FINRA/SEC regulations
- Strong analytical skills with ability to identify and assess potential risk and apply mitigating controls.
- Effective communication skills
- Excellent written and analytical skills.
- Systems knowledge preferred: Pershing, Broadcort, Actimize, BETA, Bridger/Lexis Nexis, Power BI, Various OMS systems
- Ability to take initiative and drive improved change to process as needed
- Excellent organization and multitasking skills.
- Strong work ethic
- Series 7, 24 preferred
- CAMS Certification a plus
Physical requirements/Working conditions:
- Climate controlled office environment
- Minimal physical requirements other than occasional light lifting of boxed materials
- Dynamic, time-sensitive environment