Broker Dealer Job Description
Broker Dealer Duties & Responsibilities
To write an effective broker dealer job description, begin by listing detailed duties, responsibilities and expectations. We have included broker dealer job description templates that you can modify and use.
Sample responsibilities for this position include:
Broker Dealer Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Broker Dealer
List any licenses or certifications required by the position: CPA, CIA, CFSA, CFA, ACAMS, IIBA, SMMP, AML
Education for Broker Dealer
Typically a job would require a certain level of education.
Employers hiring for the broker dealer job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Finance, Business, Accounting, Financial Services, MBA, Education, Graduate, Sound, Management, Economics
Skills for Broker Dealer
Desired skills for broker dealer include:
Desired experience for broker dealer includes:
Broker Dealer Examples
Broker Dealer Job Description
- Ensures all processes are compliant with FINRA and SEC rules/regulations and internal policies and procedures
- Participate in developing a review work plan based on the results of the annual compliance risk assessment
- Ensure review work plan addresses regulatory priorities and that reviews are designed to meet applicable regulatory guidance
- Periodically report on significant activities conducted and planned for the upcoming period
- Review all banking-related reports prior to vetting the report with other stakeholders
- Representation of all products distributed and marketed by Columbia Management
- Conducts sales or product training meetings and public seminars for financial advisors
- Keeps abreast of industry/market trends and developments and maintains sound working knowledge of Columbia's products and services
- Daily and monthly posting of journal entries
- Month-end close and financial statement preparation
- Experience with independent broker dealers and regional firms preferred
- Technical market knowledge
- Actual experience in the design and implementation of the above programs
- 10+ years of previous management experience within an operations function
- Extensive experience and knowledge of regulatory requirements within brokerage operations
- Ability to think and lead strategically, while still considering tactical, day-to-day concerns
Broker Dealer Job Description
- Monitoring Net Capital
- Preparation of annual audited financial statements
- Daily / monthly financial reporting
- Interacting with brokers and third party service providers
- Acting as a liaison with other department within the firm, such as Legal, Compliance and Operations
- Implementing policies, procedures and internal controls
- Works closely with Back Offices to resolve Fund/SERV rejected trades within the required timeframe
- Maintains a working knowledge of the NSCC's Fund/SERV product, fund changes, and policies so that questions and issues can be handled appropriately
- Partners with the other Dealer Services teams, BFDS, and other Departments to ensure that service expectations are met, work is completed per the stated guidelines, and issues are resolved in a timely fashion
- Gains professional growth by actively participating in training classes, monthly call monitoring feedback sessions, and performance discussions
- Strong ability to work across multiple levels of leadership
- Ability to effectively partner and influence both internal and external partners required, including leaders at all levels of the organization
- Comfortable working and leading in a flexible, fast-paced environment
- Strong prioritization skills and able to manage multi tasks in order to accomplish competing assignments
- Solid mutual fund and registered plan knowledge
- Solid experience in US GAAP and broker dealer regulatory reporting
Broker Dealer Job Description
- Process updates to the DST system as needed per requests from intermediaries
- Assist with NSCC Trading and NSCC Liaison teams when needed
- Oversee FINRA and SEC audits for the BD and RIA’s internal and independent audits
- This is a manager of managers position that leads a team of approximately 35 professionals performing various supervisory, risk management, operational and oversight functions
- This is a management position that leads the BD organization across related supervisory, risk management, operational and oversight functions
- Answers and responds to inquiries from intermediaries
- Analyzes and prepares transaction adjustments
- Performs a review of assigned reports and processed work
- Represents Intermediary Services during projects and initiatives
- Securities recordkeeping and operational regulatory requirements
- Risk/Control - Ensures risks are appropriately identified, and are measurable able to be monitored in firm's Systems
- Influence/Negotiation - Consistently reads different situations accurately and takes appropriate approach to gain senior colleague/client commitment
- Experience with GAAP, General Ledger, and Internal Controls
- 4 year College degree in business or accounting desired
- 15+ years of operations/compliance/risk management experience with a diversified financial services organization
- Experience with FINRA and SEC audits for the BD and RIA’s internal and independent audits
Broker Dealer Job Description
- Builds and maintains a broad knowledge base of the securities industry (regulatory, markets, products, processes, and operational methodologies)
- Oversight of email review processes/programs
- Risk assessments, and
- Broker-dealer training programs
- Perform testing to verify compliance with recordkeeping and operational regulatory requirements
- Administer an email surveillance program acting as a key Retirement Compliance liaison supporting appropriate supervisory practices
- Assist in preparation of Risk Assessments
- Coordinate annual broker-dealer compliance training (including assistance with development and deployment of web-based training), prepare and issue management reports on completion of annual broker-dealer training
- Support business continuation planning as BCP Inputer and backup BCP Planner
- Create and maintain broker-dealer Written Supervisory Procedures
- NASD series 7, 63/65/66, 24 securities licenses preferred
- Clean compliance record, no contractual restrictions regarding distribution of investment products
- Juniors, who are pursuing a major in economics, finance, investments or related fields
- 0-2 years of professional experience, preferably in a customer service role
- Assist with review of gift & entertainment requests
- Compliance and/or relevant retirement business experience required (background in compliance, legal, operational, audit or other control functions is helpful)
Broker Dealer Job Description
- Reconcile draw, bonus, and salary expenses and post tax deductions
- Reconcile and post required transactions to the general ledger and commission based employee blotters
- Reconcile all aspects of commissions, transfer pay, and post tax deductions
- Perform audits to ensure taxable wages are in balance
- Maintain policy and procedures manuals
- Work as a liaison with the banks responsible for ACH and physical paycheck processing
- Administer commission based employee payouts, compensation, and special deals
- Assist with reconciliation of commission payable accounts
- Print and seal payroll checks
- Reconciles Financial Advisor's blotter commissions to paycheck commissions
- Strong relationship management skills, confidence in dealing with senior business contacts with the understanding of service excellence
- Client relationship management experience a plus
- Strong analytical skills (e.g., understanding of more complex regulatory requirements and their application to the retirement business)
- Strong technology/software application skills
- Ability and willingness to partner with team members and PR business associates
- Series 6 or 7 registration a plus