More than 30 years ago, E*TRADE pioneered the online brokerage industry by executing the first-ever electronic individual investor trade. While the landscape of our industry has changed dramatically, our culture of innovation and drive to make online trading accessible to everyone continues to drive us forward. We believe in challenging the status quo, fostering an environment of curiosity and learning, and, above all, putting our customers first.
This position is in strategic support of Clearing Operations with oversight responsibilities for Stock Loan and Physical Securities Custody. This includes managing operational and regulatory risks with direct oversight of 6 US FTE. Additional responsibilities will include oversight of key vendor relationships and regulatory processes such as Buy-In's and Rule 204 monitoring. Participation and oversight in firm lending of excess inventory, borrowing to fulfill delivery commitments, and lending of client securities under a fully paid program. Candidate will also be responsible for performing critical risk reviews and reporting on key performance and process metrics.
- Regular monitoring and close out of CNS fails in compliance with Rule 204.
- Daily processing of stock loan and stock borrow transactions such as mark to market, recalls, returns, reorg updates, end of day balancing, contract compare, and billing.
- Collaboration with E*TRADE teams, partner operations units, counterparties, as well as external service providers to ensure activities are completed within agreed service levels and regulatory prescribed time frames.
- Ensuring overall best practice execution and that daily operating deadlines and quality control measures are met and kept within established service levels.
- Ensuring all regulatory and internal business review and process audits achieve an effective or better rating and that all identified gaps are satisfactorily remediated through a set of management action plans.
- Daily processing of various securities transactions related to security deposits, restricted stock legend removals, security transfers, and Alternative Investment purchases and custody.
- Daily monitoring of outsourcing partner activities to ensure accurate completion.
- Escalate risks to senior management and related stakeholders.
- Partner with internal functions to define and implement process enhancements.
- Deep understanding of the following Operations functions: Securities Lending Operations and Physical Securities Custody.
- Knowledgeable in the following areas: Reg SHO/204 and Customer Protection rules related to client fully paid segregation.
- Strong leadership, staff development and team building skills.
- Exceptional decision making and critical thinking competencies.
- Understanding of brokerage middle and back office processing for various Clearing entities (DTC, Loanet).
- Superior analytical, interpersonal, communication (written, verbal, and technical), presentation, negotiation and problem-solving skills.
- Experience managing the definition and execution of projects.
- Ability to work on multiple initiatives simultaneously.
- Thorough understanding of business process management and workflow.
We offer a competitive and comprehensive benefits package. Please visit https://www.etradecareers.com/why-work-at-etrade/employee-benefits/ to learn more about the opportunities.
E*TRADE Financial is an Equal Opportunity Employer who encourages diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, national origin, religion, sex, age, disability, citizenship, marital status, sexual orientation, gender identity, military or protected veteran status, or any other characteristic protected by applicable law.