The Compliance Officer-Non-Financial Regulatory Reporting position requires knowledge and skills regarding non-financial regulatory reporting obligations of brokers and futures commission merchants. This person will help design systems to comply with these regulatory reporting requirements and manage staff that perform reviews of operational processes to ensure that they are being performed effectively and efficiently. He or she will also provide oversight and direction regarding brokerage system order controls.
- Draft technical specifications for the firm’s developers to comply with securities and commodities regulatory reporting obligations.
- Provide compliance guidance and input regarding business processes and potential new products.
- Manage the process to establish, maintain, review, test and modify Operations policies.
- Oversee daily activities related to reconciliations, and all control functions as part of regulatory reporting operational reviews.
- Establish and maintain written supervisory procedures to ensure efficient controls are in place, and any rules changes have been incorporated.
- Assist with the development and reporting of metrics associated with operations control processes and key risks. Identify trends and implement corrective action or process improvements, as necessary.
- Ensure primary and secondary controls are reviewed and tested as appropriate in compliance with organizational policies for risk management.
- Prepare and communicate recommendations for strengthening controls and assist management in developing action plans to address control weaknesses.
- Serve as a resource and liaison for internal and external auditors and examiners in data production.
- Review regulatory responses for accuracy.
- Knowledge of regulatory rules and federal securities law pertaining to broker dealers, particularly non-financial regulatory reporting obligations.
- Clear understanding of industry regulations and implementation of Reg NMS, Regulation SHO and non-financial regulatory reporting.
- Ability to design effective operational testing and tracking systems.
- Knowledge of principles of finance and securities industry operations.
- Foster effective coordination between multiple work groups and functional areas.
- Ability to document and analyze key business processes and risk management controls.
- Technical skills that allow navigation of firm’s systems using basic UNIX commands and scripting techniques. Working knowledge of SQL.
- Ability to read, interpret and apply information from rules, professional publications and implement practical solutions. Participate in industry working groups.
- Bachelor’s Degree (B.A. or B.S.) in Business Administration, Finance or Accounting or a technical field from a four-year college or university.
- 10+ years’ experience in the securities and or commodities industry as a business analyst or consultant or leading a non-financial regulatory reporting group.
- This job requires subject matter expertise in non-financial, regulatory reporting to US securities and Commodities regulators by a self-clearing Broker Dealer. The focus of this position is process improvement, policy development, system implementation and project management.
- Intimate knowledge of the order lifecycle, order coding and FIX protocol is a must.
- Experience at a self-clearing firm or a service bureau reporting agent preferred.
- This job will require the ability to read rules, perform BA work, QA implementations and bring solutions to reporting challenges. This position will work with key stakeholders (Compliance, Legal, Operations, and IT) to ensure all requirements surrounding the end-to-end process are clearly understood and appropriate, and that effective reporting solutions are designed, documented, tested, and implemented.
A successful candidate must have demonstrated in-the-weeds knowledge in one or more of the below named systems including project management and day-to-day operation management:
- Order Audit Trail System Reporting (OATS) / Consolidated Audit Trail Implementation (CAT): Desired skills include prior involvement on an implementation team regarding the order flow, BA work mapping firm functions to reporting scenarios and reporting UAT testing. Also, strong knowledge of account structures to assist with CAT CAIS implementation and testing is desired.
- Large Options Position Reporting (LOPR): Strong familiarity with daily operations of Large Option Position Reporting to the Options Clearing Corporation
- Short Interest Reporting: Understanding of the Short Interest Reporting rules and FINRA reporting system.
- Integrated National Surveillance and Information Technology Enhancements Reporting (INSITE): INSITE reporting familiarity.
- Trade Reporting and Compliance Engine (TRACE): Bond trade reporting rules and operation of the daily regulatory reporting processes.
- Over the Counter Reporting Facility (OTCRF) and Trade Reporting Facility (TRF): Ability to create and submit trade reports and advise and implement regulatory rule changes.
- Large Trader and Ownership and Control Reporting (LTR and OCR reports): US commodity systems development or operation experience.
- Portfolio Margin and Margin Balance Reporting: Basic understanding of margin systems and functioning.
Company Benefits & Perks
- Competitive salary, annual performance-based bonus and stock grant
- Retirement plan 401(k) with competitive company match
- Excellent health and welfare benefits including medical, dental, and vision benefits
- Wellness screenings and assessments, health coaches and counseling services through Employee Assistance Program (EAP)
- Paid time off and a generous parental leave policy
- Daily company paid lunch and a fully stocked kitchen with healthy options for breakfast and snack
- Corporate events including team outings, dinners, volunteer activities and company sports teams
- Education reimbursement and learning opportunities
- Modern offices with sit/stand desks and multi-monitor setups
Interactive Brokers ("IBKR"), a subsidiary of publicly-traded Interactive Brokers Group, Inc., based in Greenwich, Connecticut (NASDAQ: IBKR) is a low-cost provider of trade execution and clearing services for active traders, institutional investors, financial advisors and introducing brokers. IBKR’s premier technology provides electronic access to stocks, options, futures, forex, bonds, and funds worldwide from a single IBKR Integrated Investment account. IBKR is one of the largest online brokers by trade volume and is consistently ranked at the top of its field.
Our employees are part of a dynamic, multinational, fast-paced, results-oriented team working to provide our customers with state-of-the-art trading technology, superior execution capabilities, worldwide electronic access, and sophisticated risk management tools.
Our headquarters are in Greenwich, CT, USA. IBKR has offices in the United States, Australia, Canada, China, Estonia, Hong Kong, Hungary, India, Ireland, Japan, Luxembourg, Russia, Singapore, Switzerland and United Kingdom.
IBKR is a member of NYSE, FINRA, and SIPC. Interactive Brokers Group brokerage affiliates are regulated by securities and commodities agencies around the world.
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For more information, please visit www.ibkr.com/info