New Accounts Associate
About The Position
The New Accounts Associate plays a central role in the client lifecycle at Guggenheim Securities, LLC – a FINRA registered broker-dealer – facilitating the onboarding, Know-Your-Customer (KYC), and Anti-Money Laundering (AML) processes required to open new institutional accounts and maintain existing ones. Because account readiness directly gates the firm’s ability to transact, this role sits on the critical path for revenue-generating activity across five product lines. Responsibilities include reviewing account documentation in accordance with legal and regulatory standards. This role requires meticulous attention to detail and the ability to effectively prioritize workflow while examining materials submitted by both internal and external business partners. Coverage spans product areas such as Investment Banking (both domestic and international branches), Equities Sales & Trading, Derivatives, Fixed Income, and Syndication.
Requirements
- Bachelor’s degree or equivalent experience
- Two to four years of relevant experience in account onboarding, KYC/AML, client documentation, or a comparable operations or control function
- Must successfully pass a background check
Nice To Haves
- Familiarity with the Bank Secrecy Act, Anti-Money Laundering, Know-Your-Customer, FinCEN and Broker-Dealer rules and regulations
- Prior experience working in the financial services industry, with a background in documentation, is preferred
- Demonstrated ability to prioritize and handle multiple projects and assignments
- Ability to collaborate across product lines and effectively manage competing priorities through strong time management and problem-solving skills
- Highly organized, detail oriented and thorough, ensuring all work processes are completed accurately and appropriately
- Demonstrates consistent professionalism in communication and can clearly articulate complex or problematic situations
- Strong team player with a positive, collaborative attitude
- Proactive, able to anticipate needs, take initiative, operate independently, and recognize when escalation is necessary
- Adaptable and able to respond effectively to changing situations
- Skilled in reviewing and analyzing customer documentation and initiating appropriate follow-up actions
- AI-curious and proactive about adopting emerging tools, with a track record of using technology to improve process quality or turnaround time in a documentation- or control-oriented role
- Proficiency in the Microsoft Suite, with working knowledge of Excel, Visio, and Access
- Familiarity with Pershing NetX360, LSEG World-Check One, LexisNexis and DocuSign
Responsibilities
- Receive and process new account requests from sales personnel, liaising directly with clients
- Manage the periodic renewal of existing client accounts, conducting scheduled KYC refresh and ongoing due diligence reviews on a risk-based cycle, obtaining refreshed documentation and certifications from clients, and remediating expired or deficient records within established timeframes
- Screen customers against the OFAC, SDN and other sanctions lists utilizing LSEG World-Check One, escalating positive screening outcomes to the AML Team
- Coordinate with internal teams such as: AML, Compliance, FinOps, Business Controls, Legal, Sales & Trading Desk Supervisors, Risk and Operations
- Conduct research on various regulatory platforms for client information and verification in accordance with established policies and procedures
- Handle trade-level documentation such as Options Agreements, Electronic Trading Agreements, QIB Certifications, and similar instruments
- Review existing client files for completeness as specified by policies and procedures
- For Sales & Trading, utilize Pershing’s NetX360 to open client allocation accounts
- Facilitate Requests for Information (RFI) from external business partners and clients
- Perform suitability assessments for prospective Investment Banking investors in accordance with Confidential Marketing policies and procedures
- Apply the firm’s proprietary and AI-enabled technology to fulfill onboarding and FinCEN requirements, and identify opportunities to improve those workflows
- Produce and distribute recurring reporting on onboarding pipeline status, account renewal and expiration cycles, outstanding documentation deficiencies, and escalation metrics for Compliance, desk supervisors, and senior management, including data for regulatory and audit requests
- Manage internal approvals and signoffs
- Participate in ad hoc projects as assigned
- Provide periodic evening and weekend support during active transaction periods
Benefits
- Annual base salary between $80,000 and $90,000
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
Associate degree
