Financial Services Controller

Controller

Self-Clearing Broker-Dealer

Position Overview

The Controller will lead all accounting, financial reporting, and internal control functions for a self-clearing broker-dealer. This role partners closely with the FINOP and executive leadership to ensure accurate financial statement reporting, operational integrity, and audit readiness.

While the FINOP owns regulatory capital and net capital compliance, the Controller owns the firm’s GAAP accounting framework, general ledger integrity, close process, and financial reporting infrastructure.

The role operates within a regulated environment overseen by FINRA and the SEC.

Key Responsibilities

Financial Reporting & Close Management

• Lead month-end, quarter-end, and year-end close processes
• Oversee preparation of:
  • Balance Sheet
  • Income Statement
  • Statement of Changes in Equity
  • Cash Flow Statement
• Deliver detailed variance analysis and executive reporting packages
• Maintain general ledger integrity across all broker-dealer entities
• Ensure proper trade date and settlement date accounting

Broker-Dealer Accounting Oversight

• Oversee accounting for:
  • Securities inventory
  • Securities lending transactions
  • Margin receivables and payables
  • Investment banking transactions (IPOs, ATMs, underwriting)
  • Clearing deposits and collateral
• Supervise bank reconciliations and daily cash controls
• Manage payroll accounting and related regulatory inventory reporting
• Ensure TRACE reporting support and transaction accuracy

Regulatory & Audit Support

• Support preparation of:
  • FOCUS Reports (Part II)
  • Supplemental Schedules of Income
  • Form Custody
  • SIPC Forms 6 and 7
• Coordinate annual audited financial statements
• Serve as primary liaison to external auditors
• Maintain documentation supporting regulatory examinations
• Partner with FINOP on net capital and customer reserve tie-outs

Regulatory filings interface with SIPC and oversight bodies including FINRA.

Internal Controls & Process Improvement

• Design and maintain internal control environment
• Implement scalable accounting policies and procedures
• Enhance automation of reconciliations and reporting workflows
• Manage quarterly box counts and physical securities controls (if applicable)
• Strengthen segregation of duties across finance operations

Team Leadership

• Lead and develop accounting staff
• Establish performance metrics and reporting cadences
• Partner cross-functionally with Operations, Treasury, and Compliance
• Drive continuous improvement initiatives

Qualifications

• 7–12+ years of accounting experience within a broker-dealer environment
• 3–5+ years in a leadership role
• Experience at a self-clearing broker-dealer is a must
• Deep knowledge of broker-dealer accounting practices
• Strong understanding of FOCUS reporting support and regulatory audit requirements
• CPA preferred
• Experience working in environments regulated by SEC and FINRA

Ideal Profile

• Technically strong GAAP accountant with capital markets expertise
• Comfortable in a highly regulated financial services environment
• Detail-oriented with strong reconciliation discipline
• Audit-ready mindset
• Able to operate in fast-paced, evolving broker-dealer platforms

Role Distinction:
Controller vs. FINOP

Controller Owns:

• GAAP accounting
• Financial statements
• Close process
• Audit coordination
• Internal controls

FINOP Owns:

• Net capital
• Customer reserve
• Regulatory capital compliance
• FOCUS filing sign-off
• Liquidity stress testing

In high-growth or lean environments, these roles may collaborate closely — but they require distinct expertise.