RESPONSIBILITIES & DUTIES
Lending and Financing Products
- Implement and manage lending and financing products, including Fully Paid Lending, Securities-Backed Lending, margin lending, short-sale borrow and locates, and street-side securities lending
- Own the operating model, systems configuration, controls, reporting, and governance for each product
- Manage the lending books, including collateral eligibility and pledging, borrow and loan activity, rate and rebate setting, utilization, and exceptions
- Own product profitability, funding economics, and lending spreads
- Evaluate, onboard, and manage lending platforms, funding partners, and agent banks
- Set policies, risk limits, eligibility criteria, and supervisory controls with Compliance and Risk
Treasury, Funding and Collateral
- Supervise forecasting, and intraday reconciliation / funding demands by clearing entity and product line across all product types
- Supervise DTC and NSCC portal activity, clearing-fund demands, collateral caps, and intraday liquidity adjustments
- Oversee the NSCC required fund deposit, including VaR, mark-to-market and special charges, and obligations under the DTCC line of credit
- Oversee daily settlement across both processing streams, CNS and Fund/SERV, including money settlement and fails
- Manage draws and repayments under the firm's credit facilities, including margin loan draws subject to mandatory prepayment terms
- Direct securities pledging to banks and clearing agencies and confirm control location treatment consistent with SEC Rule 15c3-3
- Maintain banking, custody, and credit facility relationships, sweep programs, NSCC liquidity reporting, and facility attestations
- Maintain daily cash-position reporting and direct investment of excess cash in permissible instruments
- Lead configuration and ongoing management of the customer margin book, including ledger rules, margin calculations, and regulatory output
- Establish and maintain treasury policies, procedures, controls, cash forecasting, and escalation protocols
Stress Testing and Counterparty Risk
- Design and execute liquidity stress tests simulating peak-day strains, clearing-house cap freezes, and counterparty defaults
- Maintain stressed cash-flow forecasts, early-warning indicators, liquidity limits, and escalation protocols
- Present testing results, emerging risks, and recommended actions to senior management.
- Monitor intraday debit and credit exposures across customers, advisers, and correspondent firms, and escalate breaches
- Evaluate financial condition, collateral sufficiency, and settlement risk for banking, clearing, and lending counterparties
- Support treasury due diligence and onboarding of new correspondents and institutional counterparties
Street-Side Securities Financing
- Build, scale, and oversee the street-side securities lending business, including counterparty strategy, operating model, and controls
- Negotiate and onboard institutional counterparties under Master Securities Loan Agreements
- Oversee open borrow and loan positions, rebate rates, collateral, recalls, returns, fails, and net-capital haircut impacts
Regulatory Reporting, Reconciliation and Controls
- Provide source data and operational reporting for SEC Rules 15c3-1, 15c3-3, and 17a-13 and monthly FOCUS, with final sign-off retained by the Financial and Operations Principal
- Supervise quarterly security count procedures and supporting documentation for treasury-controlled positions under SEC Rule 17a-13
- Assemble, review, and submit the monthly FINRA Supplemental Liquidity Schedule
- Maintain daily required reconciliations across clearing systems, sub-ledgers, and the general ledger, and resolve breaks
- Keep Written Supervisory Procedures covering lending products, margin, treasury, and securities finance current and followed
- Maintain audit-ready support and respond to regulators, auditors, and senior management
Leadership and Automation
- Supervise assigned staff, setting objectives, reviewing work, and developing capability
- Serve as the senior point of contact across Finance, Operations, Product, Risk, and Compliance
- Drive automation of treasury data extraction, controls, dashboards, and recurring regulatory and management reporting
Miscellaneous
- Follows assigned work schedule with regular and predictable attendance.
- Performs other duties as assigned.
QUALIFICATIONS
- Bachelor's degree in Finance, Business, Accounting, Economics, or a related field preferred
- 7 - 10 years of progressively responsible experience across securities lending, margin, clearing operations, treasury, or securities finance at a self-clearing broker-dealer
- Experience implementing or managing fully paid lending, securities-backed lending, margin lending, or short-sale borrow and locates
- Experience managing staff and leading cross-functional implementation in a regulated environment
- Experience with NSCC and DTC settlement portals, VaR charges, collateral caps, and clearing-fund structures
- Working understanding of settlement cycles and capital impacts across mutual funds, equities, fixed income, listed options, and U.S. Treasurys
- Strong command of SEC Rules 15c3-1, 15c3-3, and 17a-13, FOCUS and FINRA liquidity reporting, Regulation T, and FINRA Rule 4210
- Demonstrated success standing up new financial operations, negotiating MSLAs, and implementing controls
- Sound judgment and communication skills, with the ability to work independently and interface with regulators, auditors, and counterparties
TECHNICAL SKILLS
- A core securities processing platform, including ledger mapping, margin configuration, and data extraction
- DTC and NSCC settlement portals, reporting, collateral, and clearing-fund functionality
- Commercial banking, custody, settlement, credit-facility, and securities lending platform
- Advanced Excel modeling and data analysis using SQL, Python, or comparable tools
- Workflow automation, control design, dashboard development, and regulatory reporting
PROFESSIONAL CERTIFICATIONS
- FINRA Series 27 (Financial and Operations Principal) required
- FINRA Series 99 (Operations Professional) or an equivalent qualifying registration required where the Series 27 does not satisfy the requirement
- FINRA Series 7, Series 24, and Series 57 considered distinct advantages
- Any additional licenses must be obtained within the time frames required by FINRA, SEC rules, and firm policy
PHYSICAL DEMANDS/WORK ENVIRONMENT
This job operates in a professional office environment, which may include a corporate office setting or a remote/home office environment, and routinely uses standard office equipment and technology such as computers, phones, printers, and video conferencing tools. While performing the duties of this job, the associate is regularly required to communicate effectively, including speaking, hearing, and participating in virtual meetings on camera. The associate is frequently required to sit for extended periods of time, as well as occasionally stand, walk, use hands and fingers, and reach with hands and arms. This job may require the ability to lift files or office materials, open filing cabinets, and bend or stand on a stool as necessary. Remote associates are expected to maintain a safe, secure, and productive work environment with reliable internet access.
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.
