Director Brokerage Operations Manager

TIAA•Charlotte, NC

4d•Onsite

About The Position

The Brokerage Operations Manager supervises the clearance, settlement, and reconciliation of the organization's trades and positions on behalf of trade desks across the organization. This job manages a team that works closely with traders, finance, compliance, brokers and custodians and customers to ensure timely settlement of trades, accuracy of books and records and avoidance of unanticipated risk to both the organization and its customers. This job also ensures that all trade reporting requirements are followed and properly documented. The Brokerage Operations Manager job is responsible for leading a multi-site team that provides operational support to TIAA Brokerage clients. Lead team responsible for processing transactions for Brokerage clients. Responsible for all aspects of performance management, coaching and mentoring. Manage day-to-day activities to ensure client requests are completed correctly and in a timely manner. Manages performance of team through regular, timely feedback as well as the formal performance review process to ensure delivery of exceptional performance, engagement, motivation and development of team. Stay current on updates to the Pershing system and changes that impact the team. Drive continuous improvement efforts to improve quality, efficiency, and the client experience. Serve as subject matter expert on Brokerage Operations processes and participate in projects as needed. Build sound relationships across the enterprise to enable business partner support and close alignment with business objectives and firm risk appetite.

Requirements

5 years of broker dealer experience
University (Degree) Preferred
5+ Years Required; 7+ Years Preferred
FINRA Registrations SRC Indicator: Series 7; Series 63; Series 24
Physical Requirements: Sedentary Work
7+ years of broker dealer operations experience
Prior experience working at a trading desk
Prior people management experience
Leadership experience in a highly regulated environment
Proactive and able to prioritize competing tasks

Nice To Haves

University (Degree) Preferred

Responsibilities

Understands and mitigates risk associated with late settlement of cash and securities transactions including market penalties, buy-ins, and claims.
Performs adequate due diligence to completely resolve all issues, in a timely manner, in order to avoid any financial or reputational impact.
Evaluates and improves existing operational processes and maintain up-to-date procedures to reduce risk, increase efficiency, and support regulatory requirements and business initiatives.
Signs off on all required clearance and settlement reports and documentation certifying that information is complete and accurate.
Ensures that trade corrections have been properly processed in a timely manner.
Manages performance of team through regular, timely feedback as well as the formal performance review process to ensure delivery of exceptional performance, engagement, motivation and development of team.
Oversees and may administer complex trade executions and direct trades to outside custodians.
Approves the delegation of large trades to outside brokers and follows up as necessary.
Reviews suspicious/erroneous orders that have been escalated by team members and takes the appropriate action to resolve the issue.
Reviews and reconciles reports to ensure trades have been executed and booked correctly.
Responsible for all aspects of performance management, coaching and mentoring.
Manage day-to-day activities to ensure client requests are completed correctly and in a timely manner.
Stay current on updates to the Pershing system and changes that impact the team.
Drive continuous improvement efforts to improve quality, efficiency, and the client experience.
Serve as subject matter expert on Brokerage Operations processes and participate in projects as needed.
Build sound relationships across the enterprise to enable business partner support and close alignment with business objectives and firm risk appetite.