Head of Clearance and Settlement

This position is based in Charlotte, NC. Relocation support provided for successful candidate if required

Role Description

FNZ Securities USA, headquartered in New York City, is a self-clearing broker-dealer which provides fully disclosed clearing and custody services to introducing broker-dealers and RIAs in the wealth management space.

We are currently going through the application process with FINRA to become a licensed clearing broker-dealer and we expect to commence operations in 2024.

This is a fantastic opportunity for a highly experienced Head of Clearance and Settlement to play a critical role in establishing FNZ Securities as a key player in the market.

You will be key in helping to plan for and build out the operations technology, processes and team prior to commencement of operations.

Specific Role Responsibilities

• Oversee the day-to-day operations of the clearance and settlement department, ensuring the timely and accurate processing and settlement of financial transactions.
• Lead and mentor a team of clearance and settlement professionals, fostering a collaborative and high-performance work culture.

Define roles and responsibilities, set performance expectations, and conduct regular performance assessments.

Identify, assess, and mitigate operational risks associated with clearance and settlement processes. Establish and enforce risk management protocols and controls to ensure compliance with industry standards and regulatory requirements.

Collaborate with the second and third lines of defense to develop policies and procedures and risk assessments to identify and mitigate risk and compliance gaps.

Collaborate with internal stakeholders such as trading desks, risk management, and technology teams to streamline processes and address issues promptly.

Build and maintain relationships with external stakeholders, including clearinghouses, regulatory bodies, and industry partners.

• Evaluate, select, and implement technologies to enhance the efficiency and accuracy of clearance and settlement processes.
• Establish key performance indicators (KPIs) to measure the effectiveness and efficiency of clearance and settlement operations.

Prepare and present regular reports to executive management on the performance of the clearance and settlement function.

Experience Required

• 7+ years of industry-relevant experience managing operational functions in a self-clearing US broker-dealer operating in the wealth management space.
• Currently holds a FINRA Series 24 license.
• Deep understanding of the US securities industry and brokerage operations with experience in streetside operations, custody, and clearing
• Demonstrated experience providing guidance and applying operational risk principles and concepts.
• Demonstrated ability to collaborate effectively with teams across functional boundaries to ensure efficiency of operations and effective risk management.
• Willingness to adapt and respond appropriately to new demands, priorities, challenges, and obstacles.
• Data driven and able to analyze metrics and trends, such as monitoring key metrics and data to evaluate performance.
• Strong focus on controls and processes optimization and documentation
• Highly effective in establishing relationships with key stakeholders.
• Strong communicator who is able to clearly articulate priorities and issues to senior management and teammates and to motivate and clearly communicate expectations to operations staff.
• Experience managing operations at a self-clearing broker-dealer that provides trade, clearing, and custody services to introducing broker-dealers.
• Experience reporting directly to the executive management and working closely with other executives to align on operational strategy with the firm's overall business strategy.
• Experience managing teams in multiple locations and leveraging shared services.

About FNZ Culture

Our culture is what drives us. It's at the heart of who we are and everything we do. It's what inspires, excites, and moves us forward.

Our ambition is to create a culture for growth, one that opens up limitless opportunities for our employees, customers and the wider world.

At FNZ we know that great impact is only possible with great teamwork.

That's why we value the strength and diversity of thought in our global team.

The FNZ Way is the cornerstone of what we do. It is comprised of four values that set the standard for how everyone at FNZ interacts with each other, with our customers, and with all our diverse stakeholders around the world.

1. Care hard for customers and each other

2. Bring ambition to everything we do

3. Own it all the way

4. Work as one open team

Read more about The FNZ Way and our values : www.fnz.com / culture

Opportunities

• Right from day one, you will work alongside exceptional, multicultural teams - experts in their respective fields - who will inspire and challenge you to make your greatest impact.
• Be part of a highly successful, rapidly growing, global business that is leading the delivery of financial services via cloud computing and partners with some of the world's largest companies;
• Working in a flexible and agile way that meets the needs of the business and personal circumstances;
• Remuneration, significant financial rewards and career advancement is based on individual contribution and business impact rather than tenure or seniority;
• We provide global career opportunities for our best employees at any of our offices in the UK, EU, US, Canada, South Africa, and APAC.

Commitment to Equal Opportunities

At FNZ, we recognise that diversity, equity and inclusion are important factors contributing to our success. We embrace the unique perspective and capabilities of our current and future employees, which will help us continue to drive innovation and achieve our business goals.

Recruitment decisions at FNZ are made in a non-discriminatory manner without regard to gender, ethnicity / race, faith, age, nationality, gender identity, sexual orientation, marital status, socio-economic background, disability or military veteran status where all applicants and employees are valued and respected.

In addition, we want to ensure accessibility needs are well supported, if you require specific support please advise us.

About FNZ

FNZ is committed to opening up wealth so that everyone, everywhere can invest in their future on their terms. We know the foundation to do that already exists in the wealth management industry, but complexity holds firms back.

We created wealth's growth platform to help. We provide a global, end-to-end wealth management platform that integrates modern technology with business and investment operations.

All in a regulated financial institution.

We partner with over 650 financial institutions and 12,000 wealth managers, with US$1.5 trillion in assets under administration (AUA).

Together with our customers, we help over 20 million people from all wealth segments to invest in their future.