Supervisor - Self Directed Brokerage Business
People & HR, Operations
Miami, FL, USA
Posted on Thursday, August 31, 2023
Online Self-Directed Brokerage Business Supervisor (General Securities Principal) oversees the operations and management of online brokerage business.
- The primary responsibility of the Supervisor will be to ensure compliance with regulatory requirements, and internal procedures.
- Develop and implement policies and procedures to ensure daily monitoring for compliance with relevant laws, regulations, and industry best practices.
- Monitor trade execution activities.
- Perform daily trade surveillance of blotter and sales practice surveillance alerts.
- Perform daily reviews of exception reports.
- Conduct regular audits or ad-hoc reviews of online brokerage operations to identify and address any compliance issues.
- Stay updated on regulatory changes and communicate them effectively to the team.
- Provide guidance and training to employees as needed.
- Oversee the day-to-day operations including error resolution process of the online self-directed brokerage business, ensuring smooth and efficient processes.
- Collaborate with internal departments, such as IT and Risk Management, to address operational challenges and implement system enhancements.
- Manage relationships with clearing firm to ensure effective clearing and settlement processes.
- Foster a positive and collaborative work environment that promotes teamwork and high-performance culture.
- Ensure exceptional customer service is provided to clients, promptly addressing their inquiries, concerns, and escalations.
- Collaborate with teams in Brazil as needed.
- Prepare and present regular reports to senior management regarding remediation activities.
- Bachelor’s degree in finance, Business Administration, or a related field preferred. Industry certifications required (e.g., FINRA Series 7, 24, 63).
- Minimum of 2 years’ experience in a supervisory role within the online self-directed brokerage industry, preferably with experience supervising a Drive Wealth clearing relationship.
- Minimum of 5 years’ experience in Supervision or Compliance position.
- Deep knowledge of securities regulations, including FINRA and SEC rules, as well as industry best practices.
- Strong understanding of online brokerage operations, including trade execution, clearing, settlements, and customer onboarding processes.
- Excellent leadership and team management skills, with a track record of successfully leading and developing high-performing teams.
- Exceptional problem-solving and analytical abilities, with the capacity to identify and resolve complex operational and compliance issues.
- Effective communication and interpersonal skills to interact with internal stakeholders, clients, and clearing partners.
- Proficient in using brokerage and online trading platforms, as well as Microsoft Office Suite and other relevant software.
- Fluent in Portuguese, and English. Spanish proficiency is a plus.