Broker Dealer Regulatory Director

US Broker Dealer Regulatory Reporting is part of the Financial Control function within the Americas Finance umbrella, supporting all businesses within BCI. The team is responsible for ensuring the US Broker Dealer entity satisfies the various financial responsibility rules set out by SEC/FINRA/CFTC/CME, e.g. customer protection, capital requirements and regulatory filings. In addition, this team is also responsible for interpreting certain broker dealer rules and regulations, and providing guidance and advice to businesses on transactions/product developments which may have customer protection, net capital and regulatory filing implications.

The Regulatory Reporting Director will provide support to the head of Regulatory Reporting including the oversight of critical functions of the broker dealer regulatory reporting processes including the monthly FOCUS report and 15c3-1 Net Capital computation. The individual will be responsible for overseeing and managing regulatory transformation initiatives including the implementation of new regulations, along with overseeing the related regulatory reporting processes.

The primary objective of the role is to build sustainable and highly controlled processes that adhere to the relevant rules and regulations. The candidate we are seeking is a highly skilled and motivated individual with leadership abilities, a drive to continually improve processes, and the expertise to oversee complex processes.

This position has extensive coverage of the US Broker-Dealer financial reporting information and will have exposure to a broad range of the entity’s products and business activities. It will have key interfaces with various audiences amongst infrastructure areas such as Operations, Finance, Risk, Treasury, Compliance and Legal.

• Experience and expertise in SEC/FINRA Broker Dealer Regulatory Reporting, overseeing the 15c3-1 Net Capital and FOCUS reporting process.
• Understanding of the operational records and settlement mechanics of a broker dealer.
• Experience & ability to lead a team.
• Ability to independently execute tasks, challenge, and elevate issues where needed.
• Strong attention to detail and ability to present to key stakeholders including senior management and regulators.

• Experience in other areas of regulatory reporting such as the 15c3-3 customer reserve and/or possession or control requirements of 15c3-3, and the CFTC segregation requirements.
• Detail oriented and strong analytical aptitude – ability to work efficiently with advanced spreadsheets and solve problems with minimal guidance.
• Ability to build relationships across teams and with senior management.

Minimum Salary: $250,000

Maximum Salary: $300,000

The minimum and maximum salary/rate information above includes only base salary or base hourly rate. It does not include any other type of compensation or benefits that may be available.

Barclays employees are eligible for a suite of competitive and generous employee benefits, including medical, dental and vision coverage, 401(k), life insurance, and other paid leave for qualifying circumstances.

This position is eligible for an incentive award.

Purpose of the role

To identify, assess and mitigate prudential regulatory reporting risks, provide oversight on regulatory reporting, and maintain open communication with regulators to ensure that the bank's activities and operations comply with all applicable laws, regulations, and internal control policies.

Accountabilities

• Identification and assessment of prudential regulatory reporting risks arising from the bank's activities, products, and services. Development and implementation of strategies to mitigate prudential regulatory reporting risks, ensuring compliance with all applicable laws, regulations, and internal control policies, and conduct regular compliance reviews and audits to identify and address potential compliance gaps or violations.
• Assessment of the effectiveness of the bank’s internal control processes and governance framework, including addressing any weaknesses or gaps that could lead to regulatory reporting non-compliance, and implementation of measures to strengthen internal controls.
• Preparation and submission of regulatory reports to authorities, and provision of support to other departments in their preparation and review of regulatory reports.
• Analysis and presentation of regulatory data to provide insight into business performance, identify trends, and support decision-making.
• Development and implementation of training programmes to educate employees on regulatory requirements and compliance responsibilities.
• Communication and liaising with regulatory bodies, prompt responses to inquiries and provision of requested information, and representation of the bank in meetings with regulators.
• Management of the selection, implementation, and maintenance of regulatory reporting systems and software applications, including collaboration with IT…