Assistant FINOP

About the Role

The Assistant FinOp at this U.S. regulated self-clearing broker-dealer is primarily responsible for ensuring the accurate, complete, and timely preparation and submission of financial and risk-related reports to regulatory bodies like the SEC, FINRA, NFA, CFTC and PCAOB.  The role also involves reconciliation, accounting, risk and operations functions.

What You’ll Do

The Assistant FinOp plays a critical role in the Firm’s Finance Department of the broker-dealer entity, ensuring adherence to all applicable U.S. federal, state, and industry regulations. This position involves compiling, analyzing, and presenting financial data, and serving as a key liaison during audits and examinations. Reconciliation of the Firm’s various book-to-bank cash balances and supervision of SEA Rule 15c3-3 Exclusive Benefit of Customers and Exclusive Benefit of PAB (EBOC) bank account withdrawals and deposits.

• Report Preparation & Submission: Prepare, review, and submit key regulatory filings, including monthly/quarterly FOCUS reports (Financial and Operational Combined Uniform Statements) and the SEC Rule 15c3-3 (Customer and PAB Protection Rule) reserve computations.  SEC Form 17-H (Risk Assessment Report for Brokers and Dealers) and SIPC 6 & 7 General Assessment Forms
• Capital & Reserve Calculations: Support the daily, monthly, and quarterly calculations related to SEC Rule 15c3-1 & 17a-13 (Net Capital Rule and Securities Box Count and stock loan/borrow & fails confirmations) requirements, ensuring compliance with applicable financial regulations. Prepare and Distribute the Firm’s Daily Net Capital Report (DNC), Stock Loan & Borrow Deficiency
  Report (SLAB), Possession or Control Report (PorC) and Bank Monitoring Report (BMR)
• Data Analysis & Reconciliation: Analyze, reconcile, and review balance sheets and income statements, performing variance analysis on corresponding items to ensure data accuracy and completeness.
• Policy & Control Enhancement: Participate in the development and review of compliance procedures, internal controls, and process enhancements, including automation efforts, to strengthen the control environment.  Draft detailed ICOC control policies and procedures.  Maintain internal control matrices for FRR
• Liaison & Support: Serve in a support capacity as the secondary point of contact and support for internal/external auditors and regulatory examiners (e.g., SEC, FINRA, CFTC, NFA, PCAOB), providing necessary documentation and explanations
• Regulatory Monitoring: Monitor changes in the regulatory landscape and communicate updates to the FinOp, internal stakeholders, assessing the impact on existing reporting processes and implementing necessary adjustments
• Ad-hoc Reporting: Handle ad-hoc reporting requests and data validation, collaborating with cross-functional teams including Legal, Operations, Risk, and IT

What You’ll Need

• Education: A bachelor’s degree in accounting, Finance, or a related field is required; a CPA license or an advanced degree is a plus
• Experience: Relevant professional experience in a regulatory reporting or financial reporting role within the financial services industry, ideally with a U.S. broker-dealer
• Regulatory Knowledge: In-depth working knowledge of broker-dealer regulatory requirements, specifically SEC Rules 15c3-1 and 15c3-3, and FINRA rules
• Technical Skills: Proficiency in U.S. GAAP (Generally Accepted Accounting Principles) and strong analytical skills, with the ability to manage and analyze large data sets efficiently (advanced Excel skills often required)
• Soft Skills: Strong attention to detail, excellent written and verbal communication skills, problem-solving mindset, and the ability to work independently and collaboratively in a fast-paced environment
• Certifications (Preferred): FINRA Series 27 or 28 is not required but preferred
  
  Applicants must be authorized to work for any employer in the U.S. DriveWealth is unable to sponsor an employment Visa at this time.