Margin Operations, Assistant Vice President (Wealth Custody and Clearing)

State Street • Dallas, TX

22d • $65,000 - $113,750

About The Position

State Street’s Wealth Custody & Clearing team is seeking an Assistant Vice President for its Trading & Asset Servicing team to help build, implement, operate, and continuously enhance margin operations across its introducing broker-dealer platform. This builder-operator role combines ownership of key daily margin activities with responsibility for developing scalable procedures, controls, reporting, escalation protocols, and operating practices as client adoption, products, technology, and risk-management needs evolve. Working closely with the Vice President of Trading & Asset Servicing and the Head of Operations, the role will help shape the future vision for margin operations and execute the roadmap to achieve it.

The position applies working knowledge of Regulation T, FINRA Rule 4210, applicable SEC requirements, firm policies, and clearing-firm requirements to margin activity and risk oversight. It coordinates margin calls, maintenance deficiencies, extensions, restrictions, exceptions, concentrated positions, liquidations, and negative-equity responses. The role also supports Regulation SHO and short-selling workflows, broader brokerage operations, and the delivery and interpretation of account and position data and stress-testing outputs from Risk.

The Assistant Vice President partners across Risk, Compliance, Product, Technology, Client Support, Account Onboarding, other operations and control teams, clients, advisors, and clearing firm Apex. The role helps ensure margin activity is managed accurately, emerging risk is identified and escalated, and the operating model remains documented, controlled, and scalable. It also contributes to future-state planning for staffing, processes, controls, technology, automation, data, and product capabilities.

The role requires an undergraduate degree or equivalent relevant experience and 5 or more years of relevant experience, although candidates with highly relevant hands-on margin experience may be considered with a different overall experience profile. The stated annual salary range is $65,000–$113,750 and may vary for locations other than the primary location. Employees are eligible for a comprehensive benefits program, including retirement savings with company match, insurance coverage, paid time off, an Employee Assistance Program, incentive compensation eligibility, and certain tax-advantaged savings plans.

Requirements

• Undergraduate degree or equivalent relevant experience.
• At least 5 years of relevant experience in margin, broker-dealer, clearing, custody, trading, or financial-services operations; candidates with highly relevant hands-on margin experience may be considered with a different overall experience profile.
• Demonstrated experience administering or overseeing margin calls, account restrictions, extensions, concentrations, liquidations, or related operational controls.
• Strong hands-on experience in margin, broker-dealer, clearing, or custody operations, with practical knowledge of brokerage account activity and margin risk.
• Ability to build or materially improve an operating capability by translating requirements into procedures, controls, reporting, workflows, and escalation standards.
• Strong understanding of Regulation T, FINRA Rule 4210, initial and maintenance margin, buying power, house requirements, concentrated positions, margin calls, restrictions, and liquidation mechanics.
• Working knowledge of Regulation SHO and short-selling requirements, including related controls, exceptions, operational processes, and escalation.
• Experience interpreting account-level exposure information, stress-testing results, concentration analysis, or other risk outputs and translating them into operational action and escalation.
• Sound judgment in time-sensitive, risk-sensitive situations and ability to distinguish routine activity from developing credit, market, operational, or client risk.
• Ability to lead through influence and coordinate across Operations, Risk, Compliance, Product, Technology, Client Support, Account Onboarding, advisors, clients, and external providers.
• Working knowledge of broader brokerage operations, including trading, corporate actions, trade lifecycle processes, and multi-asset-class activity.
• Ability to work in a growth environment where processes, controls, technology, and team capabilities continue to evolve.
• Experience with operational reporting, reconciliations, control evidence, audit requests, and regulatory review requirements.
• Familiarity with clearing, workflow, and servicing platforms.
• Series 7 and Series 57 preferred, or willingness to obtain them based on final responsibilities.

Nice To Haves

• Knowledge of Portfolio Margin frameworks and risk-based margin methodologies; direct Portfolio Margin operational experience is a significant plus.
• Familiarity with introducing broker-dealer models and clearing-firm relationships; Apex experience preferred.
• Experience in an introducing broker-dealer, RIA custody, or fully disclosed clearing model.
• Series 4, Series 24, and/or Series 53.
• Experience with Apex Ascend, comparable clearing or margin platforms, Salesforce, and data-driven risk or reporting tools.

Responsibilities

• Help design, implement, and continuously improve the margin operating model, converting regulatory, risk, contractual, and business requirements into procedures, controls, workflows, reporting, escalation paths, and management routines.
• Own and perform key daily margin operations, including account eligibility, documentation, margin calls, maintenance deficiencies, extensions, restrictions, exceptions, and ongoing account activity.
• Review margin reports and account-level activity, including calls, debit balances, maintenance excess or deficiency, buying power, concentrated positions, restrictions, repeated violations, and elevated or emerging exposures.
• Apply Regulation T, FINRA Rule 4210, applicable SEC requirements, firm policies, and clearing-firm requirements when evaluating margin activity, restrictions, exceptions, and escalations.
• Coordinate timely resolution of calls, deficiencies, extensions, restrictions, and other exceptions with clients, advisors, Apex, Client Support, Risk, and internal stakeholders.
• Monitor concentrated and higher-risk positions and support administration, escalation, and implementation of house margin requirements or other risk-based restrictions.
• Identify and escalate accounts approaching or entering negative equity; coordinate restrictions, liquidation activity, client or advisor outreach, recovery actions, documentation, and management escalation.
• Support delivery and validation of account, position, collateral, and related data for stress testing and exposure analysis; review Risk outputs and apply established standards and findings to account-level oversight and operational action.
• Act as an operational liaison with Apex for margin calls, restrictions, liquidations, exceptions, reporting, reconciliations, and account-level issue resolution.
• Maintain margin-related controls, reconciliations, records, exception documentation, management information, and evidence for supervisory review, audit, risk oversight, and regulatory examination.
• Design and maintain margin-related key risk indicators, thresholds, and escalation triggers to support compliance, management oversight, and proactive identification of emerging risks.
• Work with the Vice President of Asset Servicing and Head of Operations on the team’s longer-term vision, including staffing, processes, controls, technology, automation, data, and future product capabilities.
• Support broader brokerage activities, including trading, corporate actions, trade lifecycle processes, short-selling workflows, and other time-sensitive work; contribute to scalable automation, AI-enabled workflows, and integrated platform capabilities.

Benefits

• Retirement savings plan (401K) with company match.
• Insurance coverage including basic life, medical, dental, vision, long-term disability, and optional additional coverages.
• Paid time off, including vacation, sick leave, short-term disability, and family care responsibilities.
• Access to an Employee Assistance Program.
• Eligibility for annual performance-based incentive awards, excluding certain sales roles subject to sales incentive plans.
• Eligibility for certain tax-advantaged savings plans.
• Inclusive development opportunities, flexible work-life support, paid volunteer days, and employee networks.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior