Senior Advisor, Supervision - Trade Correction - Req. 1902520
The Senior Advisor in Trade Corrections will assist trading personnel in real time approval of trade correction requests. Partners closely with senior manager, trading desk personnel and financial advisors (FA’s) to provide decision making and support for pre-approval of cancel/correct requests based on multiple factors and varying criteria. Primary responsibility will be as a product based team member and backup (Equity or Options), in the supervision and execution of real-time cancel and correction requests. Works independently on risk mitigation and process improvement analysis and implementations.
Essential Duties and Responsibilities:
• Work effectively with both trading desk personnel and financial advisors to resolve cancel/correction requests
• Apply appropriate escalation protocol in cancel/correct process
• Serve as point of contact for information and training requests
• Monitors and informs manager regarding regulatory issue updates which may impact cancel and correction policy
• Identifies trends and suggests trend based reporting, assists with designing reviews of such
• Obtain sufficient market structure/trading protocol knowledge to backup equity or options requests
• May consult independently with Financial Advisors and branch managers and recommend actions to ensure compliance with existing rules and regulations as well as prevent potential liability
• Performs other duties and responsibilities as assigned
Knowledge, Skills, and Abilities:
• General equity and/or options market structure and protocol
• One or more of the following functional areas: Equity or Options trading or trading desk support, brokerage operations, trade supervision, risk management, or compliance
• Securities brokerage concepts and broker dealer organization
• Principles of banking, finance, and securities industry operations
• Rules and regulations of the Securities Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), Options Clearing Corporation (OCC) and state securities regulatory agencies sufficient to ask appropriate questions and research accordingly
• All MS Office applications; ability to work with and create ad hoc reporting using advanced Excel functions such as pivot tables and macros a plus
• Access database and QlikView business intelligence software a plus
• Reviewing relevant data to make, or contribute towards making, approval decisions in a time sensitive environment
• Maintaining appropriate communication standards, protocols and response times
• Effectively using standard business software applications to produce correspondence, and maintain spreadsheets/databases and other tools
• Effective communication within a time-constrained environment
• Monitoring market developments and potential impacts for disruptions to approval flow
• Further knowledge of market structure and trading protocol to assist in management of cancel/correct process including anticipation of escalation points
• Execute instructions and request clarification when necessary
• Convey information clearly and effectively through both formal procedural protocol and informal verbal communication
• Work effectively with FA’s as both supervision resource and policy expert while enforcing company policies and procedures and maintaining independence
• Document processes and contribute to process improvement
• Establish and communicate clear directions and priorities
• Provide a high level of service to FA and trading desk process consumers
Educational/Previous Experience Requirements:
• Bachelor’s degree (B.A./B.S.) in a related discipline and a minimum of five (5) years of combined experience in brokerage/financial services with some relevant trading, trading desk support, compliance or risk management experience a plus
• An equivalent combination of experience, education, and/or training.
• Appropriate series license(s) for assigned functional area preferred or the ability to obtain within an established timeframe.
o SIE required provided that an exemption or grandfathering cannot be applied.
o Required to have Series 7, 24 and 63
o Required to have Series 4 if on options desk
o Series 9 and 10 can be used as an equivalent to the 24
• Additional licenses/certifications demonstrating the candidate’s knowledge/expertise in industry regulation and concepts preferred.
Raymond James Guiding Behaviors
At Raymond James our associates use five guiding behaviors (Develop, Collaborate, Decide, Deliver, Improve) to deliver on the firm's core values of client-first, integrity, independence and a conservative, long-term view.
We expect our associates at all levels to:
- • Grow professionally and inspire others to do the same
- • Work with and through others to achieve desired outcomes
- • Make prompt, pragmatic choices and act with the client in mind
- • Take ownership and hold themselves and others accountable for delivering results that matter
- • Contribute to the continuous evolution of the firm