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

State Street•Boston, MA

1d•$65,000 - $113,750

About The Position

Wealth Custody & Clearing 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 owns key daily margin activities while shaping how the capability evolves as client adoption, product scope, technology, and risk-management needs develop. Working closely with the Vice President of Trading & Asset Servicing and the Head of Operations, the role helps define and execute the future vision and roadmap for margin operations. The position applies working knowledge of Regulation T, FINRA Rule 4210, applicable SEC requirements, firm policies, and clearing-firm requirements to margin activity, including calls, maintenance deficiencies, extensions, restrictions, exceptions, concentrated positions, and liquidations. It supports risk-based oversight by delivering and validating account and position data for Risk, interpreting stress-testing and exposure outputs, and incorporating findings into operational action and escalation. Familiarity with Regulation SHO and short-selling operations is important; Portfolio Margin and risk-based margin knowledge are strongly preferred. The Assistant Vice President partners across Risk, Compliance, Product, Technology, Client Support, Account Onboarding, other operational and control teams, clients, advisors, and the clearing firm. The role also supports broader brokerage operations across trading, corporate actions, short-selling workflows, and the trade lifecycle. It helps strengthen first-line controls and mature a scalable, documented operating model aligned with the longer-term product and technology roadmap.

Requirements

Strong hands-on experience in margin, broker-dealer, clearing, or custody operations, with practical knowledge of brokerage account activity and margin risk.
Demonstrated ability to build or materially improve an operating capability by converting 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 and risk-sensitive situations, including distinguishing routine activity from developing credit, market, operational, or client risk.
Ability to lead through influence and coordinate effectively 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.
Comfort working in a growth environment where processes, controls, technology, and team capabilities will continue to evolve.
Experience with operational reporting, reconciliations, control evidence, audit requests, and regulatory review 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.

Nice To Haves

Knowledge of Portfolio Margin frameworks and risk-based margin methodologies; direct operational experience supporting Portfolio Margin is a significant plus.
Familiarity with introducing broker-dealer models and clearing-firm relationships; Apex experience preferred.
Series 7 and Series 57 preferred, or willingness to obtain them based on final responsibilities.
Series 4, Series 24, and/or Series 53.
Experience in an introducing broker-dealer, RIA custody, or fully disclosed clearing model.
Portfolio Margin experience, including operational implementation or ongoing oversight.
Experience with Apex Ascend, comparable clearing or margin platforms, Salesforce, and data-driven risk or reporting tools.

Responsibilities

Help design, implement, and continuously enhance the margin operating model, translating regulatory, risk, contractual, and business requirements into procedures, controls, workflows, reporting, escalation paths, and management routines.
Own and execute daily operational activities supporting the margin lending program, 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 the 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, outreach, recovery actions, documentation, and management escalation.
Support delivery and validation of account, position, collateral, and related data used for stress testing and exposure analysis; review Risk outputs and incorporate findings into account-level oversight and operational action.
Serve 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, establish, and maintain margin-related key risk indicators, thresholds, and escalation triggers to support compliance, management oversight, and identification of emerging risks.
Work with the Vice President of Asset Servicing and Head of Operations to shape and execute the longer-term team vision, including staffing, processes, controls, technology, automation, data, and future product capabilities.
Support broader brokerage activity, 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.
Basic life, medical, dental, vision, long-term disability, and other optional insurance coverages.
Paid time off, including vacation, sick leave, short-term disability, and family-care responsibilities.
Access to an Employee Assistance Program.
Incentive compensation, including eligibility for annual performance-based 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.
Employee networks.