Responsible for management of national strategic and tactical initiatives by providing high quality research, analysis and advice on the economics of securities regulation and policy in support of the Office of the Chief Economist and FINRA’s mission. The work product informs current rule-making initiatives, instantiated rules, and potential areas of future regulatory actions through analysis of the economic impacts of existing and potential rulemakings.
As the subject matter expert in a major financial markets research area of the Office’s work, the Senior Director will work independently with limited supervision and guidance to engage in and oversee statistical, econometric and financial analysis projects to evaluate the risks, costs and impacts of market practice and regulatory alternatives to establish a defined process and in support of department needs across FINRA.
**Please note there are 2 different openings leading teams of 2 different enterprises within OCE (details of both "Market Structure" and "Member Conduct" are included below)
The candidate should have a deep knowledge of trading and the economics of one or more of the following areas:
1. Equity market microstructure
2. Fixed income markets
3. Treasury securities
4. Derivative securities
The candidate should have expertise in working with very large datasets along with panel/time series econometrics and/or forecasting models.
The candidate should have a deep knowledge of the economics of one or more of the following areas:
1. Broker-Dealer sales practice issues (e.g., stock recommendations and suitability, customer abuse through churning and other methods, or broker dealer disclosures).
2. Broker-Dealer operations and risk management.
3. Arbitration of securities-related claims through FINRA’s dispute resolution forum or similar venue.
4. Other aspects of BD business operations including underwriting practices, analyst activities, advertising of securities, or private placement activity.
- The candidate should have expertise in conducting complex analyses on panel data sets, developing predictive and multi-stage regression models.
Serve as a member of the OCE management team
- Lead, participate in, and support strategic and tactical initiatives as requested by departmental and executive management.
Serve as an advisor to the Chief/Deputy Chief in relation to the major financial markets research area research area, including:
- Consulting with the Chief/Deputy Chief Economist regarding strategic planning, focusing on the direction and priorities of the Office;
- Working with the Chief/Deputy Chief Economist to establish organizational policies, goals, objectives and strategies that drive to measurable results;
- Establishing strong business process management practices and recommendations for efficiencies;
- Providing counsel on emerging regulatory issues and the appropriate response of the Office.
Manage a team of professionals who identify and analyze the economic impacts of securities regulation and support the development of regulatory responses. Responsibilities include:
- Directs individuals and separate teams focused on delivering high quality results within one or more major areas of the financial markets;
- Coordinates assignment of staff;
- Mentors and develops staff; responsible for staff performance management and training;
- Identify resource needs and hiring within the organization;
- Directs the program of economic impact review of FINRA rulemaking;
- Reviews work and provides feedback to before final submission to the Chief Economist/Deputy Chief Economist to ensure all work product meets/exceeds FINRA standards.
Lead and oversee research in relation to the major functional area in support of FINRA’s mission:
- Lead and conduct qualitative and quantitative assessments of the economic impact of a range of FINRA prospective rulemakings and retrospective rule reviews;
- Design, conduct and/or oversee analyses related to the economic activities of FINRA regulated persons and firms, including topics related to market structure, market conditions, and market abuse;
- Create and deliver analyses, written summaries, presentations and commentary designed to inform decision makers of the economic arguments and evidence in reports and studies;
- Identify areas/opportunities, conduct analyses, and make recommendations that may influence rulemaking decisions.
- Create and publish reports on various economic and financial topics for internal and external audiences.
Serve as the primary liaison between the Office of the Chief Economist and the various internal and external constituencies:
- Develop constructive and cooperative working relationships with peers and senior leaders within FINRA, such as the Office of General Counsel, Market Regulation, Office of Emerging Regulatory Issues, Office of Risk to provide thought leadership and enhance OCE’s impact in supporting FINRA’s mission, and maintain those relationships over time;
- Serve as the Office’s representative for FINRA-wide initiatives, such as task forces or working groups, as necessary;
- Establish and maintain strategic external relationships with the research communities in academia, industry and regulatory/government entities;
- Represent the Office of the Chief Economist in internal, academic and industry-wide conferences, seminars, presentations and other speaking engagements; and
- Present research findings to topic area experts, including securities industry professionals and other regulators.
- PhD in economics, finance, statistics or a similar degree.
- 5-8 years of direct experience is required, or a combination of education and experience that demonstrates equivalent expertise.
- Management experience strongly desired
- Significant experience in producing complete economic analyses, including project design and development, econometric modeling, statistical analysis, data collection and manipulation, programming, and written reports.
- Proficiency with statistical analytic tools such as R, MATLAB and/or SQL.
- Ability to work variety of people with varying skill and knowledge levels.
- Excellent communication skills, both orally and in writing.
- Ability to handle multiple tasks under tight deadlines.
- Self-starter who is comfortable working independently as well as on a team.
- Strong project management skills.
- Regular office conditions.
- Some travel may be required.
To be considered for this position, please submit a cover letter and resume. A writing sample may be required as part of the submission.
The information provided above has been designed to indicate the general nature and level of work of the position. It is not a comprehensive inventory of all duties, responsibilities and qualifications required.
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In addition to a competitive salary, comprehensive health and welfare benefits, and incentive compensation, FINRA offers immediate participation and vesting in a 401(k) plan with company match. You will also be eligible for participation in an additional FINRA-funded retirement contribution, our tuition reimbursement program and many other benefits. If you would like to contribute to our important mission and work collegially in a professional organization that values intelligence, integrity and initiative, consider a career with FINRA.
FINRA’s Code of Conduct imposes restrictions on employees’ investments and requires financial disclosures that are uniquely related to our role as a securities regulator. FINRA employees are required to disclose to FINRA all brokerage accounts that they maintain, and those in which they control trading or have a financial interest (including any trust account of which they are a trustee or beneficiary and all accounts of a spouse, domestic partner or minor child who lives with the employee) and to authorize their broker-dealers to provide FINRA with duplicate statements for all of those accounts. All of those accounts are subject to the Code’s investment and securities account restrictions, and new employees must comply with those investment restrictions—including disposing of any security issued by a company on FINRA’s Prohibited Company List or obtaining a written waiver from their Executive Vice President—by the date they begin employment with FINRA. Employees may only maintain securities accounts that must be disclosed to FINRA at one or more securities firms that provide an electronic feed (e-feed) of data to FINRA, and must move securities accounts from other securities firms to a firm that provides an e-feed within three months of beginning employment.
You can read more about these restrictions here.
As standard practice, employees must also execute FINRA’s Employee Confidentiality and Invention Assignment Agreement without qualification or modification and comply with the company’s policy on nepotism.
Search Firm Representatives
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