Director of Broker Dealer Operations
Job Title: Director of Broker Dealer Operations
Location: NYC (hybrid)
Salary: Base Salary $175k-225k + Bonus
Company Summary:
As a team lead, you embody a player/coach mentality, always ready to roll up your sleeves and lend a hand in a fast-paced, high-growth start-up. You thrive in the dynamic environment of a start-up, eager to scale broker-dealer operations to match business growth while ensuring stability, safety, and compliance. Recognizing the importance of collaboration, you work closely with like-minded individuals to solve problems and achieve team goals. You maintain a positive attitude and embrace the key characteristics valued at Flourish: grit, craftsmanship, and a collaborative approach.
The Director of Broker Dealer Operations will be responsible for:
- Manage and develop the broker dealer operations team, fostering growth and efficiency
- Collaborate with the data team to forecast growth, optimize fund allocations, and report on key business metrics for the sweep program
- Facilitate daily cash movements and perform daily cash reconciliation within the broker sweep program, ensuring accuracy and compliance
- Run and optimize proprietary algorithms for fund distribution among bank partners, and handle monthly interest settlements and reconciliations
- Drive the on-boarding of new banks and strategic partners, developing and maintaining relationships with program bank's operations leadership
- Provide audit support and ensure adherence to operational controls and regulatory requirements, while partnering with finance for monthly regulatory reporting
- Oversee and complete the daily, weekly, monthly and quarterly tasks for the broker dealer, including allocation algorithm, daily wires, and system controls
The Director of Broker Dealer Operations should have the following qualifications and skills:
- 7+ years of experience in operations and/ or treasury functions within Fin-tech start-ups, asset managers or large banks
- Active FINRA license (SIE, Series 99, Series 27) or ability to obtain Series 27 within 60 days
- Familiarity within USD payment rails and SEC/ FIRNA broker dealer regulations
- Team player who is a problem solver and a self-starter; Willing to dive in and provide sustainable solutions
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