Broker Dealer Regulatory Reporting Controller

Broker Dealer Regulatory Reporting Controller job at MDMSRecruiting LLC. Jersey City, NJ.

Internal control is based on Permanent control (1st & 2nd Level) and Internal Audit that are separate and independent from each other while being complementary.

The Financial Control Team (CTL) is part of the Second Level Permanent Control Teams that is responsible for monitoring the effectiveness of the financial and operational control framework which aims at ensuring the quality and accuracy of financial statement substantiation, regulatory reporting, liquidity and capital management. It is a transversal role covering Control Testing and Reviews for Investment Banking Business Lines and Prime Brokerage which are linked to entities across the Americas.

This particular individual will be part of the CTL Team that designs test plan, collects samples, independently tests, and reports on test results and conclusion of operational and financial control sufficiency and effectiveness of financial and regulatory reporting under SEC 17a-5 and CFTC rules. The CTL Team is responsible for the control test of all processes that have an impact on the financial and regulatory reporting, throughout Front office, Middle office, Back office, Risk and Finance Department process from transaction input to financial and regulatory reporting.

• Perform all aspects of regulatory reporting level 2 control reviews on SEC 15c3-1, 15c3-3, 17a-13, Finra 2231, CFTC Seg etc. (including but not limited to mapping regulatory rules to existing controls, identifying control design gaps, identifying financial risk areas, conducting walkthroughs, testing control execution and identifying control ineffectiveness, communication and follow‑up of improvement areas).
• When applicable, lead staff assigned to the level 2 control reviews towards the set objectives (Set clear control steps and objectives to assigned staff, manage allocated time and remain within budget, organize communication and status meetings with other members part of the same project, provide feedback when applicable).
• Have a high degree of knowledge on SEC and Finra regulations on broker dealer operations. Monitor on the applicable perimeter, the evolution of the risks, the normative and regulatory changes and the projects. Stay abreast of industry trends/developments to determine their impacts on SG's regulatory reporting framework.
• Represent the Finance Controls team in front of Senior Management.
• Interact with external auditors on SG controls and audit findings. Coordinate with SG pertinent stakeholders for audit finding remediations.
• Promote technological improvements to the level 2 control function by automating workflows using business intelligence tools (Alteryx, Knime, PowerBI, Spotfire, etc.).
• Assume a leadership role within the team and take an active participation to the longer‑term goals of the Finance Control team. Guide and train new or/and junior staff.
• Engage in equal footing with the first control teams to independently identify, measure, control and report aggregate risks.

• Analytical skills in order to be able to give an independent and relevant opinion on the control framework or the correct application of regulations on broker dealer operations.
• Strong audit skills and good knowledge of SEC and Finra regulations.
• Product knowledge in Broker Dealers — derivatives, loans, funding vehicles, currencies, fixed income, equity securities and commodities.
• Ability to understand Banking & Investment business lines and able to challenge the processes with a continuous improvement mindset.
• Communication skills: ability to interact with a wide range of staff (all staff levels & management).

• Knowledge of SEC and Finra regulatory reporting requirement (e.g. SEC 15c3-1, 15c3-3, 17a-13, Finra 2231, Finra 4210, CFTC Seg, etc.).
• Knowledge on Financial market and investment products.
• Knowledge of financial products accounting flows, treatment and their impacts on P&L, Balance Sheet and Off‑Balance Sheet in US GAAP and IFRS.

• 8+ years of experience in regulatory examination, regulatory reporting, financial control or related field under Banking & Financial Industry.

• Bachelor’s degree in Finance, Accounting, or related field required.
• Series 27, CPA license a plus.
• Work experience with SEC, Finra or CFTC a plus.
• Advanced degree a plus.