Job Description

VP Broker Dealer Regulatory Reporting

Financial Firm

Whippany NJ

170-200 K base + bonus

Hybrid onsite 3 days/week

Job Description:

Global Investment Bank is seeking a highly skilled and motivated VP Broker Dealer Regulatory Reporting to join their team and oversee the critical function of complying with the various aspects of the broker dealer reporting team. Primary responsibilities include the preparation and supervision of the Customer reserve requirement in accordance with SEC Rule 15c3-3, and various regulatory reports. The ideal candidate will possess natural leadership abilities and the expertise to oversee complex regulatory reporting processes. This position has extensive coverage of the US Broker-Dealer financial reporting information and will have exposure to a broad range of the entity’s products and business activities. It will have key interfaces with various audiences amongst infrastructure areas such as Operations, Finance, Risk, Treasury, Compliance and Legal.

Responsibilities:

To identify, assess and mitigate prudential regulatory reporting risks, provide oversight on regulatory reporting, and maintain open communication with regulators to ensure that the bank's activities and operations comply with all applicable laws, regulations, and internal control policies.

• Identification and assessment of prudential regulatory reporting risks arising from the bank's activities, products, and services. Development and implementation of strategies to mitigate prudential regulatory reporting risks, ensuring compliance with all applicable laws, regulations, and internal control policies, and conduct regular compliance reviews and audits to identify and address potential compliance gaps or violations.
• Assessment of the effectiveness of the bank’s internal control processes and governance framework, including addressing any weaknesses or gaps that could lead to regulatory reporting non-compliance, and implementation of measures to strengthen internal controls.
• Preparation and submission of regulatory reports to authorities, and provision of support to other departments in their preparation and review of regulatory reports.
• Analysis and presentation of regulatory data to provide insights into business performance, identify trends, and support decision-making.
• Development and implementation of training programs to educate employees on regulatory requirements and compliance responsibilities.
• Communication and liaising with regulatory bodies, prompt responses to inquiries and provision of requested information, and representation of the bank in meetings with regulators.
• Management of the selection, implementation, and maintenance of regulatory reporting systems and software applications, including collaboration with IT colleagues to integrate regulatory reporting systems with other enterprise systems.

Requirements:

• Expertise in SEC/FINRA Broker Dealer Regulatory Reporting, including performing and overseeing the 15c3-3 Customer Reserve computation process
• Understanding of the Operational records and settlement mechanics of a broker dealer
• The ability to independently execute tasks, challenge, and escalate issues where needed
• Attention to detail and ability to present to key stakeholders including senior management and regulators
• Developing, implementing, and maintaining effective controls that ensure process integrity and compliance

Nice to have:

• Experience in other areas of regulatory reporting including CFTC segregation requirements, SEC Rule 15c3-1 Net Capital, and the Possession or Control Requirements of SEC Rule 15c3-3.
• Detail oriented and analytical aptitude - ability to work efficiently with advanced spreadsheets and solve problems with minimal guidance.
• Ability to build relationships across teams – Operations, Product Control, Regulatory Reporting, Compliance, etc.

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