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Director, Broker Dealer FINOP



Jersey City, NJ, USA
Posted on Thursday, October 12, 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.

Completing a Series D raise in 2021, 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

As Director - Broker-Dealer FINOP, you will be responsible for the regulatory financial reporting and compliance for the Company’s Broker-Dealers. You will report into the Principal Accounting Officer and work closely with Controllers, Legal, Compliance, Treasury and FPA teams. You will focus on the Finance team’s reporting infrastructure and make sure the Broker-Dealers unit is equipped to scale and support Drive Wealth’s growth strategy.

What you will do

  • Work on day-to-day accounting and reporting responsibilities of self-clearing custody and proprietary trading firm including but not limited to the following:
  • Prepare and submit accurate financial reports, including FOCUS filings and Self Clearing firm SEC reporting, in compliance with established deadlines
  • Calculate and monitor net capital position to meet regulatory requirements
  • Develop and maintain policies and procedures to ensure integrity of financial reporting.
  • Work with the Controllers to ensure timely close of the company books and reporting of financial results in accordance with US GAAP every month
  • Work with Legal and Compliance teams on regulatory exams (FINRA/SEC) and communication
  • Ensure that operational processes (trade processing/settlement/clearing) are accurately reconciled to the accounting general ledger and comply with regulatory requirements
  • Work with Treasurer on liquidity, funding, capital, clearing/trading deposits and other treasury-related items pertaining to legal entities as needed
  • Communicate with Senior management in identifying and resolving Broker-Dealer issues.
  • Provide support for all tax filings and annual audits

What you will need

  • 8+ years’ experience at clearing broker-dealer in Finance and Accounting function
  • 5+ years’ experience as Broker-Dealer FINOP
  • Experience with Self Clearing Firm financial operations and reporting, Stock loan/conduit/Fully paid, Proprietary trading business lines
  • Revenues recognition for multiple asset classes (Equities, Fixed Income, Mutual Funds)
  • Bachelor’s Degree required.
  • Series 27 required.
  • CPA preferred.
  • An understanding of financial reporting systems, procedures, and internal controls
  • Strong organizational skills, attention to detail and prioritization capabilities
  • Demonstrated ability to manage multiple projects and adapt to change
  • Strong analytical, critical-thinking and problem-solving skills
  • Ability to effectively communicate and interact with all levels of management and work in a team-oriented environment.

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
$200,000$225,000 USD

US Benefits

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

Singapore Benefits

  • Insurance – Medical, Dental, Vision, Group Life, LTD & STD
  • Unlimited PTO
  • Flexible working hours and work from home
  • Continuing education and conferences reimbursement
  • Fitness/Wellbeing reimbursement

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.