Senior Operations Manager

Senior Operations Manager

Location: Miami, FL (In-office min. 3 days per week)

Company: Velox Clearing LLC

Department: Compliance

Position Type: Full-Time, Onsite/Hybrid

Reports To: Head of Operations

Job Overview:

Velox Clearing LLC is seeking a highly experienced Senior Operations Officer with 5-7 years of broker-dealer Back-office experience, particularly in post-trade functions as well as ACATS and Client Services. The role ensures operational excellence in areas including P&S, settlements with Clearing organizations, reconciliation, possession and control, and Corporate Actions. The Senior Operations Manager will lead a high-performing team, maintain strong relationships with clearing organizations such DTC and OCC. They will also have daily communications with our external vendors in addition to our correspondents and will ensure compliance with regulatory standards.

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Purchase & Sales (P&S): Oversee accurate and timely confirmation, allocation, and booking of trades. Ensure robust controls to mitigate trade breaks and discrepancies.
• Settlement Operations: Manage settlements with clearing organizations, including DTC, OCC, and FICC, ensuring accuracy and timeliness. Develop strategies to minimize settlement failures and maximize resource efficiency.
• Reconciliation: Ensure daily and periodic reconciliation of accounts, trades, and positions to identify and resolve discrepancies promptly. Establish rigorous audit trails and reporting mechanisms for transparency.
• Possession and Control: Oversee compliance with SEC Rule 15c3-3 and other regulatory requirements regarding customer asset segregation.
• ACATS: Mange the daily workflow for Incoming and Outgoing Account transfers as well as transfers related to DWAC and DRS
• Corporate Actions: Direct corporate action processing, including dividends, interest payments, stock splits, and mergers, ensuring accuracy and timely communication with stakeholders. Implement client-centric approaches to minimize disruptions during corporate events.
• Client Services: Meet and develop ongoing relationships with our correspondents as well as lead the Client Services team as they escalate inquires and issues from our customers. Oversee IPO trade allocations and securities movements.
• Team Leadership and Development: Lead, mentor and develop a team of operations professionals, fostering a culture of collaboration and excellence. Provide cross-training opportunities to employees to ensure proper coverage and forward thinking. Perform periodic performance reviews.

Skills and Qualifications:

• Technical Expertise: In-depth knowledge of broker-dealer operations, particularly correspondent clearing, trading, and compliance requirements. Familiarity with KYC rules, trade execution, and clearing operations.
• Communication & Leadership: Strong written and verbal communication skills, with the ability to lead a team of individuals
• Attention to Detail: Exceptional attention to detail, with a proven ability to manage multiple tasks, meet deadlines, and stay organized in a fast-paced environment.
• Critical Thinking & Problem-Solving: A critical thinker with strong problem-solving skills who can identify compliance gaps and risks while finding appropriate solutions.
• Regulatory Knowledge: Comprehensive understanding of FINRA, SEC, and SRO rules, with prior experience managing regulatory inquiries, examinations, and audits.
• Client & Business Interaction: Experience providing guidance and collaborating with internal business units, such as trading, and client services, to ensure regulatory compliance.

Education and Experience:

• Education: Bachelor's degree required; advanced degree in finance, or business are a plus.
• Experience:
• 10 years’ experience in financial services with a minimum of 5-7 years of experience in broker-dealer back-office clearing operations.
• Experience handling regulatory examinations and interacting with FINRA, SEC, and other regulatory bodies.
• Familiarity with the operations of clearing firms and correspondent clearing is strongly preferred.
• Certifications:
• Series 7 and 24 certifications required: Series 27 preferred (or willingness to obtain). Additional FINRA licenses such as Series 4, 57, or 63 are advantageous.
• Familiarity with FINRA rules applicable to broker-dealers and clearing operations is essential.

Work Environment:

• Location: Miami, FL (3 days a week in the office).
• Salary & Benefits: Competitive salary and comprehensive benefits, including medical, dental, vision, 401(k), and PTO.