DriveWealth is 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.
We seek enthusiastic professionals to contribute diverse perspectives and experiences to our Brokerage-as-a-Service platform. Our culture blends the pace and opportunity of a tech start-up with the impact, stability, and significance of Wall Street. We encourage creativity and experimentation while ensuring institutional-grade execution and regulatory compliance in everything we do. We value diversity and inclusion, celebrating the unique differences of our employees as we scale and grow together. We’re guided by operating principles grounded in accountability, teamwork, integrity, and solutions built to scale. Join us!
About The Role:
We are seeking a Director, Head of Cash Management to serve as the lead architect of DriveWealth’s liquidity engine. In our "Brokerage-as-a-Service" model, cash movement is the lifeblood of the platform. You will own the end-to-end strategy for intraday liquidity, regulatory asset segregation, and capital optimization. This is a high-stakes leadership role requiring a "FinOps" mindset. You will navigate the transition to T+1 settlement cycles, ensuring that our fractional trading engine remains perfectly liquid and fully compliant with the most stringent SEC protection rules.
What You’ll Do:
- Regulatory Compliance: Own the daily and weekly Customer and PAB (Proprietary Accounts of Broker-Dealers) reserve formula calculations in accordance with SEC Rule 15c3-3.
- Liquidity Management: Monitor and manage intraday liquidity to meet settlement obligations with NSCC, DTC, and OCC, particularly during high-volatility market events.
- Capital Optimization: Oversee the firm’s cash sweep programs and manage bank relationships to optimize interest income while ensuring immediate availability of funds.
- Settlement Oversight: Lead the team responsible for the daily reconciliation of firm and client funds, ensuring the proprietary fractional ledger remains in sync with external bank and clearinghouse positions.
- Funding Strategy: Manage tri-party repo and committed credit facilities to support firm capital requirements and Net Capital (SEC Rule 15c3-1) compliance.
- Process Automation: Collaborate with Engineering and Product teams to build automated reconciliation and reporting tools within an API-first environment.
What You’ll Need:
- Experience: 10+ years in finance, with a minimum of 5 years in a self-clearing Broker-Dealer or Prime Brokerage environment.
- Technical Knowledge: Expert-level understanding of SEC Rules 15c3-3 and 15c3-1, including the specific requirements for asset segregation and the reserve formula.
- Licensing: SIE and Series 99 or 7 required. Series 27 (Financial and Operations Principal) is strongly preferred.
- Operational Skills: Deep knowledge of clearinghouse workflows (NSCC, DTC, OCC) and the mechanics of tri-party repo or credit lines.
- Systems Fluency: Ability to work with SQL or data visualization tools (Tableau/Looker) to manage and reconcile high-volume transaction data.
- Leadership: Proven ability to manage cross-functional projects between Finance, Operations, and Engineering.
- Location: Required to be in the New York office at least 4 days a week.
Applicants must be authorized to work for any employer in the U.S. DriveWealth is unable to sponsor or take over sponsorship of an employment visa at this time.
Benefits
- Competitive medical, dental, and vision insurance options
- Mental health resources
- Generous paid time off with observed holidays (varies per country)
- Paid parental leave for biological and adoptive parents
- Up to $2,500 or local equivalent each year to invest in continued education and personal development
- Up to $900 each year or local equivalent for fitness and wellness reimbursement
- Company-provided phone (varies by country)
- For HQ in-office employees, a daily lunch stipend, unlimited snacks, and engaging office space in the Financial District
- Pre-tax commuter benefits (US only)
- Employer 401K match (US only)
Benefit offerings vary based on country and are subject to change.
Equal Employment Opportunity
To 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 Disclaimer
DriveWealth does not accept agency resumes. Please 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.
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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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