Sr. Manager, Supervision - Trade Correction Approval - Req. 1901604
Utilizes knowledge, judgement and skills gained through experience and training to independently perform real time approval of trade correction requests. Works closely with trading desk personnel and financial advisors to provide decision making and comprehensive support for pre-approval of cancel/correct requests based on multiple factors and varying criteria. Primary responsibility will be to support a product based team, (Equity or Options), in the supervision and execution of firm policy regarding real-time cancel and correction requests. Will be required to deploy trading and market structure subject matter expertise in a highly complex and time sensitive environment in order to appropriately support both the continuous and periodic review of trading activity and financial advisor procedure and protocol. Will employ knowledge to conceptualize, plan, and execute a variety of process improvement initiatives that often will involve several areas of the firm outside of PCG.
Essential Duties and Responsibilities:
• Performs human resource management activities, including identifying performance problems and approving recommendations for remedial action; identifying training needs, evaluating performance; and interviewing and selecting staff.
• Coaches and mentors subordinates, identifies training needs and recommends development programs.
• Plans, assigns, monitors, reviews, evaluates and leads the work of associates.
• Reviews progress of assignments with senior management.
• Work effectively with both trading desk personnel and FA’s to resolve cancel/correction requests
• Evaluate and document both supervisory and operational procedures
• Proactively ensure compliance with Securities Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), Options Clearing Corporation (OCC) and state securities regulations and platform policies and procedures as they apply to cancel and correction of trading activity
• Evaluate work flows and processes to create efficiencies
• Liaise with internal audit and compliance to address findings and validate process improvement
• Identify potential gaps in trade cancel/correct processes within supervisory, regulatory and risk mitigation frameworks and suggest remediation steps
• Be able to both challenge and apply subjective interpretation to factors culminating in cancel/correct requests on a real-time basis
Knowledge, Skills, and Abilities:
Advanced knowledge of:
• One or more of the following functional areas: Equity or Options trading/trading desk management, brokerage operations/middle office, trade supervision, risk management, or compliance at a broker dealer, hedge fund, or private equity firm
• Concepts, practices and procedures of securities industry and/or banking compliance; including suitability and other compliance/supervisory issues related to trading activity
• Rules and regulations of the Securities Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), Options Clearing Corporation (OCC) and state securities regulatory agencies
• Market structure, protocols, practices and procedures used in the equity and/or options markets
• Organization and time management sufficient to prioritize workload, handle multiple tasks, and meet deadlines
• Communicating effectively both verbally and in writing with detail and precision
• High order reasoning and decision-making involving time sensitive parameters
• Making rule-based and analytical decisions
• Critical thinking and problem solving within a framework of risk management and compliance
• Apply market experience and judgement in a real-time environment to support decision making
• Perform market research to support decision making
• Build solid, effective working relationships with others
• Constructively work under stress and pressure when faced with high workloads and deadlines
• Perform all functions with a high level of accuracy and with a high degree of autonomy
• Handle stressful situations and provide a high level of customer service in a calm and professional manner
• Use appropriate interpersonal styles and communicate effectively, both orally and writing, with all organizational levels
Educational/Previous Experience Requirements:
Bachelor’s degree (B.A./B.S.) preferably in finance, economics, or business and minimum of eight (8) years of combined experience in equity or options trading/market making, trading desk/middle office operations support, trading supervision, or risk management
Any equivalent combination of experience, education, and/or training
• SIE required provided that an exemption or grandfathering cannot be applied
• Series 7 and Series 24 (Equity) or Series 4 and Series 7 (Option)
• Additional licenses/certifications demonstrating the candidate’s knowledge/expertise in industry regulation and concepts preferred