About the Job:
A leading self-clearing proprietary broker-dealer, is seeking a CFO to oversee the self-clearing brokerage operations, related affiliates and serve as a member of our executive team. Reporting to the CEO, this role is responsible for the implementation and management of finance and accounting processes, external filing and financial reporting, and accounting controls and functions. This individual will collaborate with business unit and functional teams for the end-to-end process in producing consolidated financial statements and related disclosures as required by GAAP and the SEC. Additionally, this position will monitor emerging SEC guidelines and new and proposed U.S. GAAP accounting standards.
Responsibilities/ Essential Functions
- Collaborate with the CEO and senior management on the day-to-day operations of a proprietary trading firm.
- Partner with management to identify areas for process improvement and make recommendations for change.
- Perform P & S and margin calculations to ensure data reconciliation.
- Prepare financials and maintain books and records for the Broker-Dealer in compliance with GAAP, while meeting all regulatory reporting requirements.
- Provide relevant support for financial information analyses, reports, and recommendations.
- Ensure timely and accurate completion of month-end, quarter-end, and year-end closing processes.
- Stay updated on regulatory developments and make strategic recommendations for process/control modifications and oversee their implementation.
- Maintain relationships with key external stakeholders (regulatory/government bodies, external auditors) relevant to the Broker-Dealer.
- Provide value-added and strategic insight to various organizational areas within the Firm and other stakeholders throughout the business.
- Manage tax planning and compliance for all required federal, state, local, payroll, property, and other applicable taxes.
- Supervise and/or perform the Broker-Dealer's responsibilities under all financial responsibility rules governed by the Securities Exchange Act of 1934 (Exchange Act).
- Demonstrate strong knowledge of accounting processes through clear communication and prompt responsiveness to internal and external parties.
- Collaborate with all departments to ensure efficient and accurate consolidation of financial information and new systems with accounting processes and systems.
- Facilitate and/or perform various duties, including:
- FOCUS Reports
- Net Capital Computations
- Supplemental Schedule of Income (SSOI)
- Form Custody
- Brokerage Statement Analysis
- Securities Investor Protection Corporation (SIPC)
- Annual Audit Support
- FINRA Examination Support
- Accounting Due Diligence
- Bookkeeping
- Other duties as assigned
Education/Certification:
- B.S. in Accounting or Finance required; Advanced degree is a plus
- Series 27 is required
- CPA preferred but not required
Knowledge and Skills:
- The ideal candidate is intelligent, professional, polished, and articulate, with good interpersonal and analytical skills.
- 10+ years relevant broker-dealer experience working in Operations and/or Finance as a FINOP or Finance management position at a self-clearing broker-dealer.
- Expert knowledge of broker-dealer operations, and regulatory reporting needs including FINRA, SEC, and other agencies as required.
- Demonstrated analytical skills including the ability to synthesize quantitative and qualitative data to draw conclusions and assist in decision making.
- Extremely reliable character with a demonstrated ability to handle sensitive information with discretion.
Prior experience across several disciplines including but not limited to Operations, Finance, Compliance, Risk Management, Cash Management, and Treasury is a plus.
