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.  

Candidates in St Petersburg, FL, Memphis, TN, or Southfield, MI will be considered for this hybrid schedule. 

Essential Duties and Responsibilities

• 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.
• 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 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 with 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 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
• Assist 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 manner; 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
• Performs daily and weekly quality review of reconciliation specialist’s work as needed to ensure reconciliations are accurate, complete and that discrepancies have been resolved in a timely manner
• Coordinates/participates in the quarterly examination and verification of physical securities held on premises
• Participates in projects and performs other duties and responsibilities as assigned

Knowledge, Skills, and Abilities:

• Bachelor’s Degree (B.A.) in related field and minimum of two (2) years’ experience in the areas of accounting, banking and/or financial service
• SIE and Series 99 required 

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 365 software (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.
• Demonstrate strong numerical aptitude and use critical thinking when solving operational problems
• Provide a high level of customer service

This is the pay range that Magnit reasonably expects to pay for this position: $28.45/hour - $37.93/hour

Benefits: Medical, Dental, Vision, 401K