Job Information
Raymond James Financial, Inc. Regulatory Operations Analyst in Memphis, Tennessee
Description
This position will follow our hybrid work model; we expect the selected candidate to be in the office 2-3 days a week at one of the following Corporate Office locations: St. Petersburg, FL, Memphis, TN, or Southfield, MI.
Job Summary:
Under minimal supervision, uses intermediate knowledge and skills obtained through experience and/or training to monitor possession and control of client assets, complete regulatory reporting and assist the firm in maintaining proper compliance with industry/firm rules and regulations. Collaborates with management to identify opportunities for operational efficiency and productivity improvements to mitigate financial, reputational and regulatory risk. Assists and provides input in the interpretation of new and changing rules and/or regulations. Works with management to update processes as well as updating departmental procedures with guidance from Supervisor/Manager. Recommends solutions to problems. Contact with internal customers as well as internal auditors as required to research, identify and resolve observations. Assist in the development and coordination of periodic operational performance reports/scorecards including trend analysis and recommended strategies with guidance from Supervisor/Manager. Assist in the development and coordination of operational desktop procedures, written supervisory policies (WSPs), validating the reports for completeness and accuracy prior to submission with guidance from Supervisor/Manager.
Essential Duties and Responsibilities
Monitors daily securities possession or control requirements to ensure compliance with the Customer Protection Rule (15c3-3); proactively communicates deficits and any identified issues to the LOBs in order to reduce firm deficits
Compiles and reviews regulatory reporting information used for Weekly Reserve and Monthly FOCUS reporting; ensures that reporting information is compliant with applicable industry regulations (e.g. 15c3-3, 15c3-1)
Monitors operational suspense and clearance accounts, inventory, and dealer accounts to ensure compliance with firm accounting policies/industry regulations; escalate identified issues to Supervisor/Manager and the relevant line of business
Assists and provides input in the interpretation of new/changing securities rules, regulations, policies or laws; updates processes for compliance to rules and regulations as well as departmental procedures
Compiles operational account information for internal and external auditors (e.g. FINRA, SEC) with limited oversight
Plans and executes remediation efforts for any identified issues with minimal guidance/support from Supervisor/Manager; assists the Manager or Senior Analyst in formalizing milestones needed in order to implement corrective action plans for any identified issues
Identifies opportunities for operational efficiency and productivity improvements to mitigate financial, reputation and regulatory risk; suggests solutions to Supervisor/Manager
Assists Manager or Senior Analyst in the design, planning, and execution of testing strategies; under direct supervision, may lead the testing efforts of other analysts; communicate any issues to management that require immediate attention in a clear and concise manor; draft recommendations to mitigate risk
Assists in the development and coordination of periodic operational performance reports/scorecards for Management, including trend analysis and recommended strategies
Participates on projects
Performs other duties and responsibilities as assigned
Qualifications
Knowledge, Skills, and Abilities:
Knowledge of:
Brokerage operations and how functions performed by Operations Control align with business partners
Financial industry rules, regulations and laws relating to processes performed by Operations Control
Regulatory terminology, concepts, and guidance
Brokerage industry and financial markets
Accounting principles/concepts
Concepts, practices and procedures for testing operational systems/processes
Skill in:
Conducting quality control reviews for functions performed within Operations
Creating procedure and business process workflow documentation
Evaluating processes/systems and identifying risks and controls; recommending appropriate actions/revisions to resolve any identified gaps or mitigate risk
Executing and creating training materials/programs
Executing test strategies, methodologies and analysis
Operating standard office equipment and using required Microsoft Office (Excel, Access, PowerPoint) and other software applications
Ability to:
Proactively engage, collaborate, and influence business partners in the adoption of identified opportunities to create or enhance a control or process
Support efforts in the evaluation or implementation of a control or process
With minimal guidance, interpret financial/brokerage rules, regulations and security laws; ensure all industry rules, regulations, and security laws that apply to a process are correctly followed
Demonstrate critiacal thinking while managing multiple tasks with changing priorities; meet deadlines in a fast-paced environment with constant interruptions; adapt to a constantly changing environment
Provide a high level of customer service
Quickly understands complex subject matters
Lead cross-training of the team in processes to ensure appropriate bench strength
Coordinates/participates in the quarterly examination and verification of physical securities
Performs user testing of system enhancements and new software applications for accuracy and usability
Evaluates current processes and systems with the purpose of identifying gaps or creating efficiencies and process improvements
Escalates observations/issues to Management that require attention in order to mitigate risk
Verify and reconcile domestic and foreign securities held at various depositories
Monitors daily reconciliations completed by the team to ensure Service Level Agreements are met
Educational/Previous Experience Requirements:
Bachelor’s Degree (B.A.) in related field and minimum of two (2) years’ experience in the areas of accounting, banking and/or financial servicesor
Any equivalent combination of experience, education, and/or training approved by Human Resources
Licenses/Certifications:
SIE required provided that an exemption or grandfathering cannot be applied.
Series 99 or ability to obtain within 120 days (as required by FINRA), required.
Job: Operations
Primary Location: US-FL-St. Petersburg-Saint Petersburg
Other Locations: US-TN-Memphis-Memphis, US-MI-Southfield-Southfield
Organization Operations & Administration
Schedule Full-time
Job Shift Day Job
Travel Yes, 10 % of the Time
Req ID: 2303635
Raymond James Financial, Inc.
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