DriveWealth is on a mission to make investing easier. We believe that everyone should have the ability to control their financial future, and that access to financial markets should not be limited by geography, wealth, or legacy systems. We are a global B2B financial technology organization dedicated to democratizing access to financial independence around the world. Our mission is realized through an API-based platform, empowering our partners to offer seamless investing and trading experiences to clients worldwide, all from their mobile devices. Our technology provides partners with a modern, extensible toolkit, enabling traditional investment workflows and innovative techniques like fractional share ownership. DriveWealth has evolved into a global platform offering trading of US equities, mutual funds, ETFs, fixed income, and options.
There’s never been a better time to build a category-defining business and there has rarely been a team better positioned for this opportunity. Our culture blends the pace and agility of a fintech start-up with the impact, stability, and discipline of Wall Street. We encourage creativity and experimentation while ensuring institutional-grade execution and regulatory compliance in everything we do. Join us and help build the future of global investing!
About the Role
The Assistant FinOp at this U.S. regulated self-clearing broker-dealer is primarily responsible for ensuring the accurate, complete, and timely preparation and submission of financial and risk-related reports to regulatory bodies like the SEC, FINRA, NFA, CFTC and PCAOB. The role also involves reconciliation, accounting, risk and operations functions.
What You’ll Do
The Assistant FinOp plays a critical role in the Firm’s Finance Department of the broker-dealer entity, ensuring adherence to all applicable U.S. federal, state, and industry regulations. This position involves compiling, analyzing, and presenting financial data, and serving as a key liaison during audits and examinations. Reconciliation of the Firm’s various book-to-bank cash balances and supervision of SEA Rule 15c3-3 Exclusive Benefit of Customers and Exclusive Benefit of PAB (EBOC) bank account withdrawals and deposits.
- Report Preparation & Submission: Prepare, review, and submit key regulatory filings, including monthly/quarterly FOCUS reports (Financial and Operational Combined Uniform Statements) and the SEC Rule 15c3-3 (Customer and PAB Protection Rule) reserve computations. SEC Form 17-H (Risk Assessment Report for Brokers and Dealers) and SIPC 6 & 7 General Assessment Forms
- Capital & Reserve Calculations: Support the daily, monthly, and quarterly calculations related to SEC Rule 15c3-1 & 17a-13 (Net Capital Rule and Securities Box Count and stock loan/borrow & fails confirmations) requirements, ensuring compliance with applicable financial regulations. Prepare and Distribute the Firm’s Daily Net Capital Report (DNC), Stock Loan & Borrow Deficiency
Report (SLAB), Possession or Control Report (PorC) and Bank Monitoring Report (BMR) - Data Analysis & Reconciliation: Analyze, reconcile, and review balance sheets and income statements, performing variance analysis on corresponding items to ensure data accuracy and completeness.
- Policy & Control Enhancement: Participate in the development and review of compliance procedures, internal controls, and process enhancements, including automation efforts, to strengthen the control environment. Draft detailed ICOC control policies and procedures. Maintain internal control matrices for FRR
- Liaison & Support: Serve in a support capacity as the secondary point of contact and support for internal/external auditors and regulatory examiners (e.g., SEC, FINRA, CFTC, NFA, PCAOB), providing necessary documentation and explanations
- Regulatory Monitoring: Monitor changes in the regulatory landscape and communicate updates to the FinOp, internal stakeholders, assessing the impact on existing reporting processes and implementing necessary adjustments
- Ad-hoc Reporting: Handle ad-hoc reporting requests and data validation, collaborating with cross-functional teams including Legal, Operations, Risk, and IT
What You’ll Need
- Education: A bachelor’s degree in accounting, Finance, or a related field is required; a CPA license or an advanced degree is a plus
- Experience: Relevant professional experience in a regulatory reporting or financial reporting role within the financial services industry, ideally with a U.S. broker-dealer
- Regulatory Knowledge: In-depth working knowledge of broker-dealer regulatory requirements, specifically SEC Rules 15c3-1 and 15c3-3, and FINRA rules
- Technical Skills: Proficiency in U.S. GAAP (Generally Accepted Accounting Principles) and strong analytical skills, with the ability to manage and analyze large data sets efficiently (advanced Excel skills often required)
- Soft Skills: Strong attention to detail, excellent written and verbal communication skills, problem-solving mindset, and the ability to work independently and collaboratively in a fast-paced environment
- Certifications (Preferred): FINRA Series 27 or 28 is not required but preferred
Applicants must be authorized to work for any employer in the U.S. DriveWealth is unable to sponsor an employment Visa at this time.
Compensation
Compensation package offerings are based on candidate experience and technical qualifications, as it relates to the role. These are identified and determined throughout your interviewing experience.
Please note: this role is expected to come into our office on a cadence set by the Hiring Manager/Team.
We do our best work when we’re in the same room. To maintain the speed our partners expect, our New York and Chicago teams work in-office 4 days a week. We’ve found that being physically side-by-side is the only way to solve complex problems in real-time and stay truly accountable to the products we ship. When you’re here, you’re working directly with the people making the decisions. To support that work, we provide competitive compensation, equity, and a 401(k) match. We also offer full insurance coverage, a wellness reimbursement, a company-provided phone, and a personal development allowance. Finally, we value the time you spend away from the office with generous PTO, observed holidays, and extended leave.
How We Think About AIWe leverage AI to work smarter and move faster. We seek AI curious talent who are proactive about using emerging tools to increase signal quality, reduce friction and improve outcomes to deliver product faster, provide better service to our partners, and to streamline processes. Your ability to leverage our internal tools and technology to drive results is as important to us as your core domain expertise.
CompensationPay is generally based upon the level, complexity, responsibility, location and job duties / requirements of the specific position. We then source candidates with the requisite skills, expertise, education, training, and experience. If you are selected for an interview, please feel welcome to speak to a recruiter about our compensation philosophy and other available benefits. This role is eligible for base, bonus, equity, 401(k) match, and heavily subsidized benefits and perks.
Equal Employment OpportunityTo build technology and products that are used and loved by people and solve real-world problems, we need to build a team with many different perspectives and experiences. We are an equal opportunity employer. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We encourage candidates from all backgrounds to apply. Applicants in need of special assistance or accommodation during the interview process or in accessing our website may contact us at [email protected].
Agency DisclaimerDriveWealth does not accept agency resumes. Do not forward resumes to our jobs alias, employees, or any other organization location. DriveWealth is not responsible for any fees related to unsolicited resumes.
Top Skills
What We Do
Over the past ten years, DriveWealth has been breaking down the barriers between global investors and U.S. markets and improving the financial lives of people that have been traditionally underserved and underbanked. We’ve built patent-pending technology to fractionalize US equities and were the first to receive a license to do so in 2015.
Why Work With Us
DriveWealth is growing quickly, and we need your help! This year we plan to getting close to doubling our headcount. We've raised over $100M so far from seasoned fin-tech investors Route 66, Point 72, and Raptor.
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