Prime Brokerage Compliance
Prime Brokerage Compliance Job / Position
Our client is a leading provider of clearing, execution, and settlement services of investment securities to financial institutions and investment advisors worldwide dealing with listed and over-the-counter equities, bonds and mutual funds. The company also provides other services to brokerage firms and asset managers such as managed account programs, investor services, cash management, retirement accounts and plans, annuities, mutual funds, and other products though about 20 offices around the globe.
Responsibilities· Our client’s Trading Services group requires a Senior Compliance Officer to advise on business activities deriving from its new Prime Broker Services Group. The candidate will be responsible for compliance support and for developing and executing an ongoing review plan for prime brokerage activities. This will include but not be limited to the following:
· Provide guidance and advice regarding compliance issues to members of the prime brokerage team including sales, operations, trading, and securities lending in the oversight of all related prime brokerage activities in the support of hedge funds
· Actively participate in industry and firm regulatory committees and communicate current industry initiatives and regulatory changes to business personnel.
· Conduct business needs analyses, create compliance and firm element presentations and provide education/training to the business on pertinent compliance issues.
· Assist the business in implementing and enhancing policies and procedures and supervisory procedures, as appropriate.
· Coordinate with the Business, Operations and IT to implement and monitor a comprehensive surveillance program. Develop reports to monitor and detect various trading violations (e.g. Reg SHO, Reg M, Trade Manipulation).
· Conduct regulatory and internal compliance testing and verification in conjunction with the firm’s regulatory attorneys and internal audit.
· Work with the Business and AML Compliance to develop a due diligence program for the opening of Prime Broker accounts (i.e. Hedge Funds)
Requirements· Must have 7 - 10 years compliance experience in the financial services industry.
· Prior compliance experience as a regulator or in Compliance at a large securities firm related to prime brokerage activities in supporting all operational aspects in supporting hedge fund customers including order handling, processing, execution, trade reporting, middle office functions, deposits and withdrawal of funds.
Candidate must demonstrate:
· The ability to multi-task multiple high-priority tasks
· The ability to manage through confrontational issues successfully and tactfully
· The ability to represent and enforce compliance, while considering the needs of the business area
· The ability to evaluate risks and mitigations
· The ability to think “outside the box” without posing undue exposure or compliance risk
· Excellent interpersonal skills
· Good analytical skills
· Good judgment
· Strong work ethic
· Good organizational skills
· Computer proficiency required
· Have a Bachelors Degree and Series 7, 8, 9/10 and 24.
· Be a motivated self starter who is capable of working independently and in a team environment
· Have the ability to interface effectively with all levels of management
· Possess excellent communication and presentation skills
Location: Jersey City, NJ
Contact Us Today
If you would like to learn more about this position, apply today. If you are a qualified candidate we will promptly contact you within two business days schedule and conduct a preliminary interview by phone and fully explain the details of this opportunity.
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Last year HSBC Securities Services was ranked #1 in R&M Fund Accounting and Administration Survey for a third year in a row. R&M Surveys being an independent market research administration that specializes in investor services industry. The questionnaire for the survey ranked various providers on 34 aspects of the services they provide from services such as transaction processing, to communications, as well as the quality of employees and the service value for the money. Source
