Cambridge Investment Research, Inc., one of the nation’s leading independent financial solutions firm has an opening in Accounting for a full-time, Director of Cash Management Solutions.
Job Summary: The Director of Cash Management Solutions, will be responsible for managing the firm’s cash & cash equivalent platform; including the sweep program, and other cash management solutions. This position will lead the day-to-day effortsfor ensuring the firms cash sweep offerings are being managed per its Terms & Conditions. The Director of Cash Management Solutions will be responsible for projections and other budget and forecasting activities associated withCIG’s cash flow analysis. While this position is not primarily responsible for product strategy you will work with those associates as needed ensuring CIG maintains a competitive suite of cash management solutions as well as educating affiliated financial professionals within CIG’s network of comprehensive cash solutions.
Essential Duties and Responsibilities:
· Manage the day to day relationship with StoneCastle, Pershing, and National Financial as it pertains to all cash management related solutions
· Serve as the firm’s SME on all cash management related questions/issues
· Train General Ops/Support, IA Support, and Cashiering departments on a frequent basis to ensure consistency of information on all cash management solutions
· Frequently track cash sweep revenue and ensure results are in line with projections
· Model future sweep program revenue forecasts based upon interest rate projections and program bank allocations
· Run monthly multi-level product & account level analysis and provide to vendor for client yield adjustments
· Thoroughly review monthly client yield calculations and ensure calculations are accurate and remain competitive
· Responsible for making all disclosure adjustments for the cash sweep program, such as updates to the program bank lineups, monthly rate adjustments, and all other relevant factors required to be disclosed to customers
· Conduct sensitivity and stress testing analysis on cash sweep program on a regular basis
· Lead efforts with project team to rationalize cash sweep offerings across the firms multiple clearing options
· Assist with advisor level awareness calls as needed to ensure they are educated on liability management solutions
· Serve as a resource when needed for advisors to develop strategies to incorporate cash management into their wealth management practices
· Bachelor’s degree from four-year college or university; and seven years related experience and/or training in the Financial Services industry.
· Prior experience in banking and/or brokerage cash sweep space preferred.
· Substantial experience working with financial advisors, particularly those in the wealth management space.
Certificates and Licenses:
Financial Industry Regulatory Authority (FINRA) Series 7 and Series 24 and Series 65/66.