VP Securities Lending Operations

LPL Financial•New York, NY

1d•$141,110 - $235,149

About The Position

LPL Financial is searching for a seasoned industry leader to architect and drive the strategic development of its securities lending operations program, encompassing Margin, Fully Paid Lending, Funding, and Operational Oversight. This role is central to designing, integrating, enhancing, and overseeing the daily operations related to securities lending, funding, and settlement activities. The Vice President of Securities Lending Operations will work closely with the Head of Securities Lending and collaborate across internal teams including Trading, Operations, Risk, Compliance, Legal, Technology, Credit, Regulatory Reporting, and Finance, as well as with external vendors and partners, ensuring seamless operational integration and adherence to regulatory requirements throughout all facets of LPL’s securities lending and funding processes. This opportunity is ideal for a highly experienced professional with deep expertise in securities lending, clearing, and settlement, who is eager to leverage their advanced knowledge in a dynamic environment.

Requirements

Minimum of 15+ years of progressive experience in securities lending, with a significant portion in leadership and management role.
Extensive experience in Broker dealer operations, securities lending, markets, products, strategies, and the regulatory landscape.
Experience developing and executing a successful securities lending program, including Fully Paid Lending with internal teams and regulators.
Experience managing Securities Lending Operations, Settlements, Firm Balancing (cash and securities) and Purchase and Sales teams.
Significant knowledge of Regulatory Reporting, Daily reconciliations, Corporate Actions, Dividends, and Funding capabilities and risk.
Strong knowledge of risk management principles and practices related to securities lending.
Substantial understanding of how FIS, BETA, DTCC, and OCC platforms and data reconciliation tools, flows and reports are managed and leveraged within a broker dealer
Ability to balance the "flow" nature of a broker dealer with the fiduciary considerations of an investment advisor.
Served on SIFMA committees and Industry initiatives to develop and support best practices.
Excellent communication skills and ability to communicate findings to senior leadership.
Ability to build and maintain strong relationships with internal and external stakeholders.
Experience with relevant securities lending technology platforms and systems.
Ability to thrive in a fast-paced and dynamic environment.

Nice To Haves

FINRA Series 7, 53, 63 and 99

Responsibilities

Develop and implement a comprehensive securities lending operational roadmap for LPL's securities lending program, aligned with the firm's overall business objectives and risk appetite.
Establish and maintain a strong risk management framework for the securities lending program, including the identification, assessment, mitigation, and monitoring of relevant risks
Ensure compliance with all applicable regulatory requirements, internal policies, and industry best practices. Collaborate with Risk Management and Compliance teams to develop and implement appropriate policies and procedures.
Collaborate with operational teams to map and assess current LPL processes, ensuring they are adjusted and integrated to support future LPL Securities Lending and funding capabilities, particularly by incorporating new Securities Lending activities into daily segregation deficit processes and compliance.
Leverage robust operational experience to share information to create operational excellence within the firm.
Oversee the day-to-day securities lending operational team and process, ensuring efficient and effective settlement and regulatory compliance of lending and borrowing activities.
Optimize operational collateral management processes to ensure adequate funding flows and coverage to minimize risk.
Support Finance in establishing dealer, suspense, and clearance accounts to accurately reflect securities lending and funding positions.
Enhance transparency for Risk and Finance teams to develop accurate reporting of activities, balances, and projections.
Create and implement policies, procedures, and supervisory guidelines for securities lending activities.
Implement daily procedures to collaborate with Dividend and Corporate Actions teams to capture and post activity related to securities lending activity efficiently.