AVP - Cash Reconciliation

Company Overview

Our client is a well‑established, Fortune 500 technology‑enabled financial services organization experiencing ongoing growth and transformation. The company fosters a collaborative and dynamic culture with strong leadership and opportunities to impact enterprise‑level accounting operations.

The Assistant Vice President (AVP), Cash Reconciliation is a senior leadership role within Finance & Operations, responsible for overseeing daily cash and asset reconciliation activities and ensuring strict compliance with SEC Rule 15c3-3 (Customer Protection Rule).

This leader plays a critical role in safeguarding the firm’s financial integrity by managing complex reconciliation processes, overseeing the daily Customer Reserve Calculation, strengthening internal controls, and partnering closely with Treasury, Accounting, Compliance, Risk, and Technology teams. The role combines deep technical expertise, regulatory knowledge, and people leadership in a fast‑paced broker‑dealer environment.

• Lead end‑to‑end daily reconciliation of cash, clearing, suspense accounts, and asset positions across custodians and trading platforms.
• Review and resolve breaks, exceptions, and aged items in accordance with internal policies and FINRA/SEC requirements.
• Oversee interest, corporate actions, and other cash‑related activity.

• Oversee preparation and review of the daily Customer Reserve Formula calculation, ensuring full regulatory compliance.
• Validate segregation requirements, debit/credit computations, and proprietary balances.
• Coordinate with Treasury, Accounting, and Regulatory Reporting to ensure timely movement of funds into and out of Reserve Bank Accounts.
• Ensure proper documentation, controls, approvals, and audit support for reserve processes.
• Identify and remediate discrepancies, system issues, or calculation breaks.

• Approve journal entries including cash reclasses and interest accruals (daily/monthly).
• Perform monthly account certifications and reconciliations.
• Provide income statement and balance sheet fluctuation analysis (monthly and quarterly).
• Support internal and external audits.

• Maintain and enhance internal controls supporting cash, asset, and reserve processes.
• Partner with Internal Audit, Compliance, and Risk on audits, exams, and regulatory inquiries.
• Ensure adherence to FINRA, SEC, and internal policy requirements.

• Lead, coach, and develop a team of reconciliation analysts and senior specialists.
• Align resources to meet critical daily deadlines and regulatory timelines.
• Foster a culture of accuracy, risk awareness, accountability, and continuous improvement.

• Drive automation and process enhancements across reconciliation and reserve systems.
• Lead UAT, system upgrades, data validations, and performance improvements.
• Partner with technology teams on root cause analysis and remediation of system issues.

• Deliver daily, weekly, and monthly reconciliation and reserve reporting to senior stakeholders.
• Escalate material reconciliation issues or reserve variances posing financial or regulatory risk.
• Support regulatory filings and financial reporting as required.

• Bachelor’s or Master’s degree in Finance, Accounting, Business, or related field.
• 8+ years of experience in finance, accounting, cash reconciliation, broker‑dealer operations, or financial controls.
• Series 99 (or ability to obtain within 120 days of hire).
• Expertise in SEC Rule 15c3-3 and broker‑dealer regulatory requirements.
• Proven leadership experience managing teams or senior analysts.
• Advanced Excel skills and experience with reconciliation platforms.
• Experience with Oracle, BETA, Kyriba, or similar broker‑dealer systems a plus.
• Prior ownership of Customer Reserve Calculations a plus.
• CPA or other relevant certifications a plus.
• Experience driving automation and process optimization initiatives.

Determining compensation for this role depends on a wide array of factors including skill set, experience, training, licensure, certifications, office location, and other business needs. Salary range is noted in this posting. The individual may also be eligible for discretionary bonuses and participate in medical, dental, vision benefits, and the company’s 401(k) retirement plan.