Robinhood is democratizing access to America’s financial system. Since our public launch in 2015, we’ve cemented our position as the fastest-growing brokerage with over two million users and billions of dollars in transaction volume. Robinhood received recognition with the Apple Design Award, the Google Material Design Award, and named Fast Company’s 11th Most Innovative Company in the World.
We’re backed by top-tier investors such as DST Global, NEA, Index Ventures, Thrive Capital, Ribbit Capital, a16z, and GV, as well as individuals such as Jared Leto, Ashton Kutcher, John Legend, Snoop Dogg, and Nas.
About the Role
The Manager will be responsible for daily processing of work associated with department including managing the Account Transfers, Settlement, Income Processing, Corporate Actions, Stock Record, and Internal Controls functional areas. This includes hiring and managing all staff directly and indirectly through managers and team leaders. They will be responsible for managing risk, ensuring deadlines and service levels are met, and for compliance with Firm policy, SEC rules, and FINRA regulations. This is a unique opportunity in a newly developed area. Candidate will be responsible for helping to develop and design departmental processes and guidelines.
As a Securities Processing Manager you will:
- Execution of Written Supervisory Procedures to comply with all SEC and FINRA rules
- Processing customer account transfer requests, both incoming and outgoing, through the NSCC ACATS systems or manually using re-registration documents.
- Process requests for medallion signature guarantee requests or as need for account transfers
- Process settlement functions for street-side settlement counter-parties including DTCC, OCC, NSCC, Schwab, Federated, AIP, and others. Analyze Continuous Net Settlement activity and reconcile accordingly. Process Purchase Orders, Delivery Orders, Delivery/Withdrawal at Custodian, and all other settlement and transfer functions as required.
- Process income activities including cash dividends, reinvested dividends, short and long term capital gains, return of capital, and any other income event. Post income to client accounts and reconcile all shares and cash accordingly. Manage the Dividend Reinvestment Program.
- For all security types, process corporate actions including stock splits, reverse splits, mergers, pre-funding, return of capital, bonus issue, asset ID change, spin-offs, and voluntary tender offers. All corporate action activity is posted to customer accounts ad reconciled.
- Maintain the stock record for all security types. Receive and delivery shares of securities as necessary to maintain reconciliation between the stock record and each good control location including DTCC, NSCC, AIP, all sub-accounting systems, other broker-dealers, and any bank.
- Manage all physical securities, such as stock certificates, in the vault. Maintain security procedures to keep access to the vault and the safe limited to authorized personal.
- Reconcile all functions within the entire Brokerage Operation via an Internal Controls function with includes reconciling cash and securities in every account against assets at good control locations and banks to insure possession and control in accordance with SEC and FINRA rules.
Some things we consider critical to being a Securities Processing Manager:
- Bachelor’s Degree or equivalent work experience
- 5+ years working in a broker-dealer operation
- FINRA Series 7 and 24 license (or ability to obtain within 120 days)
- Strong understanding of brokerage operation functions
- Self-starter with ability to work independently
- Good communication and analytical skills
- Ability to effectively manage multiple priorities and adapt to a changing environment
Nice to haves:
- 8+ years of experience in a brokerage operation
- Management experience over account transfers, div/reorg, stock record, or settlements
Note to Recruiters and Placement Agencies: Robinhood does not accept unsolicited agency resumes. Please do not forward resumes to any person or email address at Robinhood prior to obtaining a signed agreement from Recruiting/HR. Robinhood is not liable for and will not pay placement fees for candidates submitted by any agency other than its approved recruitment partners. Furthermore, any resumes sent without an agreement in place will be considered your company's gift to Robinhood and may be forwarded to our recruiters for their attention.