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Regulatory Operations Business Analyst - Req. 1900469


Job Summary:


Under minimal supervision, uses intermediate knowledge and skills obtained through experience and/or training to monitor possession and control of client assets, complete regulatory reporting and assist the firm in maintaining proper compliance with industry/firm rules and regulations.  Collaborates with management to identify opportunities for operational efficiency and productivity improvements to mitigate financial, reputational and regulatory risk.  Assists and provides input in the interpretation of new and changing rules and/or regulations. Works with management to update processes as well as updating departmental procedures with guidance from Supervisor/Manager.  Recommends solutions to problems.  Contact with internal customers as well as internal auditors as required to research, identify and resolve observations.  Assist in the development and coordination of periodic operational performance reports/scorecards including trend analysis and recommended strategies with guidance from Supervisor/Manager.



Essential Duties and Responsibilities


• Monitors daily securities possession or control requirements to ensure compliance with the Customer Protection Rule (15c3-3); proactively communicates deficits and any identified issues to the LOBs in order to reduce firm deficits

• Compiles and reviews regulatory reporting information used for Weekly Reserve and Monthly FOCUS reporting; ensures that reporting information is compliant with applicable industry regulations (e.g. 15c3-3, 15c3-1)

• Monitors operational suspense and clearance accounts, inventory, and dealer accounts to ensure compliance with firm accounting policies/industry regulations; escalate identified issues to Supervisor/Manager and the relevant line of business

• Assists and provides input in the interpretation of new/changing securities rules, regulations, policies or laws; updates processes for compliance to rules and regulations as well as departmental procedures

• Compiles operational account information for internal and external auditors (e.g. FINRA, SEC) with limited oversight

• Plans and executes remediation efforts for any identified issues with minimal guidance/support from Supervisor/Manager; assists the Manager or Senior Analyst in formalizing milestones needed in order to implement corrective action plans for any identified issues

• Identifies opportunities for operational efficiency and productivity improvements to mitigate financial, reputation and regulatory risk; suggests solutions to Supervisor/Manager

• Assists Manager or Senior Analyst in the design, planning, and execution of testing strategies; under direct supervision, may lead the testing efforts of other analysts; communicate any issues to management that require immediate attention in a clear and concise manor; draft recommendations to mitigate risk

• Assists in the development and coordination of periodic operational performance reports/scorecards for Management, including trend analysis and recommended strategies

• Participates on projects

• Performs other duties and responsibilities as assigned


Knowledge, Skills, and Abilities:

Knowledge of:

• Brokerage operations and how functions performed by Operations Control align with business partners

• Financial industry rules, regulations and laws relating to processes performed by Operations Control

• Regulatory terminology, concepts, and guidance

• Brokerage industry and financial markets

• Accounting principles/concepts

• Concepts, practices and procedures for testing operational systems/processes

Skill in:

• Conducting quality control reviews for functions performed within Operations

• Creating procedure and business process workflow documentation

• Evaluating processes/systems and identifying risks and controls; recommending appropriate actions/revisions to resolve any identified gaps or mitigate risk

• Executing training materials/programs

• Executing test strategies, methodologies and analysis

• Operating standard office equipment and using required Microsoft Office (Excel, Access, PowerPoint) and other software applications

Ability to:

• Proactively engage, collaborate and influence business partners in the adoption of identified opportunities to create or enhance a control or process

• Support efforts in the evaluation or implementation of a control or process

• With minimal guidance, interpret financial/brokerage rules, regulations and security laws; ensure all industry rules, regulations, and security laws that apply to a process are correctly followed

• Manage multiple tasks with changing priorities; meet deadlines in a fast paced environment with constant interruptions; adapt to a constantly changing environment.

• Provide a high level of customer service

Educational/Previous Experience Requirements:

• Bachelor’s Degree (B.A.) in related field and minimum of two (2) years’ experience in the areas of accounting, banking and/or financial services


• Any equivalent combination of experience, education, and/or training approved by Human Resources

• Bachelor’s Degree in related field and minimum of two (2) years of experience in the area


• SIE required provided that an exemption or grandfathering cannot be applied.

• Series 99 or ability to obtain within 120 days (as required by FINRA), required.