What are the responsibilities and job description for the Operations Support position at ApTask?
Monitor the daily activities of cash and margin accounts to ensure compliance with the regulations of the Federal Reserve Board (Regulation-T), FINRA, and clients own internal credit policies. Analyzes accounts with credit and risk issues associated with risky trading strategies. Issues maintenance calls on accounts that fall below minimum margin requirements. File extensions with FINRA on open trades. Reviews and approves client requests for payments, transfer of assets within Wealth Management and transfer of assets to other financial organizations. Resource will respond to branch inquiries related to, but not limited to, cash available, buying power, option calculations, margin day trading, trade through violations and disbursement approvals. The resource will review and maintain the accuracy of customer margin account records of securities purchased creating REG-T, House and FINRA calls. The resource will interact with the branch network regarding the remediation of margin accounts requiring action due to down market exposures creating House and FINRA calls and deficit equity. The Margin resource will ensure that all customer accounts with outstanding regulatory exceptions are brought into compliance regarding retention house requirements, FINRA 4210, and Regulation-T. The Margin resource will conduct daily account surveillance activities and enforces sellouts and buy-ins with the Branch offices. Work on ad-hoc projects within the department. Prepare and present Margin presentations and reports to management as well as the Field.
