Obligations Specialist Business & Monetary Controls

$53,000 - $68,000 yearly
  • The Resume Review - Recruiting Department
  • Jacksonville, FL, USA
  • Jul 18, 2022
Full time Accounting Finance

Job Description

Job description

 

The primary responsibilities of this role are to maintain compliance with internal and external rules and regulations, ensure timely resolution / payment in accordance with regulatory requirements and review and resolve past due trade commitments and equity maintenance calls.
 
The candidate will be responsible for:
• Compliance with the Federal Reserve’s regulations that pertain to credit extensions (Margin and Loan management) as well as FINRA’s (Regulation T and SRO) rules pertaining to trade commitments.
• Reviewing and resolving trade and non trade commitments which include compliance, collections, overdrafts and trade related violations according to the Firm‘s policy and procedures and external rules and regulations.
• Providing assistance with various administrative and reporting responsibilities for the section.
• Providing subject matter expertise and service to Client Associates/Financial Advisors and Client Relationship Managers regarding alternative resolution paths as to how a trade commitment or equity deficiency (margin maintenance call) can be resolved.
• Providing assistance in implementing the Section’s and Department’s Critical Few Objectives.
The primary responsibilities of the Obligations Specialist are to maintain compliance with internal and external rules and regulations, ensure timely resolution / payment in accordance with regulatory requirements and review and resolve past due trade commitments and equity maintenance calls

Responsibilities include:
Compliance with the Federal Reserve’s regulations that pertain to credit extensions (Margin and Loan management) as well as FINRA’s (Regulation T and SRO) rules pertaining to trade commitments.
Reviewing and resolving trade and non-trade commitments which include compliance, collections, overdrafts and trade related violations according to the Firm‘s policy and procedures and external rules and regulations.
Providing assistance with various administrative and reporting responsibilities for the section.
Providing subject matter expertise and service to Client Associates/Financial Advisors and Client Relationship Managers regarding alternative resolution paths as to how a trade commitment or equity deficiency (margin maintenance call) can be resolved.
Providing assistance in implementing the Section’s and Department’s Critical Few Objectives.
 
Required Skills:
  • Current Series 7 FINRA registration or ability to obtain successfully within 90 days.
  • Understanding of the Securities Industry and the various internal and external rules and regulations affecting the industry and department (e.g., Regulation T, New York Stock Exchange, Firm policies and procedures and margin and option rules and regulations.
  • Direct internal branch and home office contact, forced liquidation processing to ensure trading commitments (cash commitments and Regulation T calls) and equity deficiency calls (maintenance calls and minimum equity calls) are met within regulatory and Firm policy timeframes.
  • Excellent analytical and decision making skills.
  • Excellent writing and interpersonal.
 
Desired Skills:
  • College Degree preferred.
     
  • The ability to assume a leadership role with minimum supervision from the management team as it relates to completing special projects and resolving daily issues and concerns