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Operations Specialist, Options



Jersey City, NJ, USA
Posted on Friday, June 23, 2023

DriveWealth, the pioneer of fractional equities trading and embedded investing, is a visionary technology company that empowers more than 100 partners around the world to engage their customers by placing the markets in the palm of their hand. We believe the future is fractional, transactional and mobile. Every mobile device should be a gateway to accessing investing and savings products, services, advice, and assistance for global citizens of all ages, wealth stages, and levels of financial expertise. DriveWealth’s unparalleled consultative support and cloud-based, industrial strength technology platform allow partners to seamlessly offer branded investing experiences to drive customer acquisition, loyalty, retention, and revenue growth. DriveWealth’s commitment to continuous evolution and innovation makes it the partner of choice for powering the future of investing.

Recently completing a Series D raise, DriveWealth’s mission is to democratize investing globally by working with partners to invent new ways to use its API-based technology to provide emerging investors with cutting-edge embedded experiences, offer first-time access to U.S. markets, and the ability to begin investing with as little as $1. DriveWealth is committed to empowering consumers around the world to become owners by delivering the most modern brokerage infrastructure, unparalleled industry expertise, and a culture of continued evolution.

About the role

We are seeking a highly skilled and experienced Options Operations Subject Matter Expert (SME) to join our dynamic team. As an Options Operations SME, you will play a vital role in managing and optimizing our options trading operations. Your expertise in options operations, risk management, and industry regulations will be crucial in ensuring the efficiency and effectiveness of our options trading activities. The ideal candidate will have a minimum of 3 years of experience in options operations and possess a deep understanding of various options trading strategies and market dynamics.

What you'll do

Options Operations Management

  • Oversee the day-to-day operations of options trading, including trade execution, settlement, and confirmation.
  • Develop and implement efficient procedures and controls for options operations activities to minimize risk and ensure compliance with regulatory requirements.
  • Monitor market conditions, news, and events that may impact options trading, and provide timely analysis and recommendations.

Risk Management

  • Assess and manage risks associated with options trading, including market risk, counterparty risk, and operational risk.
  • Work with the Options team lead to develop and maintain risk management frameworks, policies, and procedures to mitigate potential risks.
  • Work with Options team lead to conduct risk assessments and stress tests to evaluate the impact of market volatility and potential scenarios on options positions.
  • Collaborate with risk management teams and Options Team Lead to ensure compliance with internal risk limits and regulatory requirements.

Regulatory Compliance:

  • Stay updated with relevant regulations, rules, and guidelines related to options trading, including those set by regulatory bodies such as SEC, CFTC, and exchanges.
  • Ensure compliance with all applicable laws, regulations, and internal policies governing options trading activities.
  • Provide guidance and support to internal teams on compliance matters and help implement necessary controls and processes.
  • Participate in audits and regulatory examinations, addressing inquiries and providing necessary documentation.

Process Improvement:

  • Identify opportunities to streamline and enhance options operations processes, automation, and technology platforms.
  • Work closely with technology teams to implement system enhancements, upgrades, and new functionalities.
  • Continuously evaluate existing workflows and propose improvements to increase efficiency, reduce errors, and enhance scalability.

What you'll need

Education and Experience

  • Bachelor's degree in finance, economics, or a related field.
  • Minimum of 3 years of experience in options operations, preferably within a financial institution or brokerage firm.
  • Strong knowledge of options trading strategies, derivatives, and market structure.

Technical Skills

  • Proficiency in options trading systems and platforms, such as order management systems (OMS), execution management systems (EMS), and risk management tools.
  • Familiarity with options pricing models, risk measurement techniques, and trading analytics software.
  • Excellent understanding of market data feeds, exchange protocols, and order routing mechanisms.

Analytical and Problem-Solving Skills

  • Strong analytical skills to analyze complex options positions, market data, and risk metrics.
  • Ability to identify and resolve operational issues, trade discrepancies, and system errors promptly.
  • Aptitude for critical thinking, attention to detail, and the ability to make sound decisions under pressure.

Communication and Collaboration

  • Excellent verbal and written communication skills to effectively interact with stakeholders at all levels.
  • Ability to collaborate with cross

Compensation package offerings are based on candidate experience and technical qualifications, as it relates to the role. These are identified and determined throughout your interviewing experience.

Please note
: this role is expected to come into our office on a cadence set by the Hiring Manager/Team.

Jersey City, NJ HQ (Hybrid) Pay Range
$90,000$120,000 USD

US Benefits

  • Insurance – Medical, Dental, Vision, Life, LTD & STD. HSA and FSA options.
  • Unlimited PTO
  • 401k plan
  • Flexible working hours and work from home
  • Continuing education and conferences reimbursement
  • Fitness/Wellbeing reimbursement
  • Lunch program, snacks and beverages available in the office

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

TO ALL AGENCIES: Please, no phone calls or emails to any employee of DriveWealth outside of the Talent organization. DriveWealth’s policy is to only accept resumes from agencies via Greenhouse (ATS). Agencies must have a valid services agreement executed and must have been assigned by the Talent team to a specific requisition. Any resume submitted outside of this process will be deemed the sole property of DriveWealth. In the event a candidate submitted outside of this policy is hired, no fee or payment will be paid.