Flourish Broker Dealer Operations Lead

About You
With an eye for details, you know the importance of triple checking your work to ensure accuracy and believe that is the minimum standard. You are thoughtful about risk, learn quickly from your mistakes and are commercially minded and motivated to ensure operations support business objectives. Digging into the details is exciting and you are constantly looking for ways to make established processes more streamlined and efficient - both with the help of full automation and via more manual processes where appropriate. You have a player/coach mentality and as a team lead, you are always willing to roll up your sleeves and lend a helping hand in a fast moving, high-growth startup. You understand that startups move quickly and you are excited by the task of continuing to scale broker dealer operations to keep pace with business growth, while always ensuring stability, safety, and compliance. You are calm under pressure and take pride in successfully coaching your team through challenges. Knowing that collaboration is key, you work closely with like-minded individuals to solve problems and contribute to team objectives. Finally, you have a default positive attitude and embrace key characteristics we look for in Flourishers: grit, craftsmanship, and a collaborative approach.
Principal Responsibilities

• Lead team in ensuring daily, weekly, monthly, and quarterly required tasks are completed in support of our broker dealer:
  
  • Run proprietary allocation algorithm to derive the most optimal distribution of customer funds among brokered sweep program bank partners
  • Facilitate daily cash movement of customer funds within the brokered sweep program as well as movement of funds between Flourish products and entities
  • Perform daily cash reconciliation of customer cash within the brokered sweep program
  • Process monthly interest settlement and reconciliation at program banks
  • Provide audit support and adhere to operational controls and regulatory requirements
  • Partner with Finance to complete all necessary monthly regulatory reporting
• Manage, mentor, and develop the existing Broker Dealer Operations team
• Build, maintain, and evolve Broker Dealer Operations processes to streamline core tasks, improve efficiency, and reduce mistakes
• Partner with the Data team to forecast growth, explore optimal allocations, and report on key business metrics related to the sweep program
• Track and report on Broker Dealer Operations KPIs to the Flourish executive team
• Become an expert on the details of our allocation process and sweep program in order to represent Operations in discussions with Leadership, Product, and Engineering on new and existing functionality for Flourish Cash and other Flourish products
• Represent Operations in our program bank relationship strategy:
  
  • Drive onboarding of new banks into the cash sweep program, or any other strategic partners for new product initiatives
  • Develop strategic relationships with program banks' operations leadership
  • Aid in ongoing bank and partner risk monitoring
• Manage Flourish's treasury strategy to optimize yield within defined risk and regulatory parameters
• Stay abreast of key trends in the banking and payments space to propose new initiatives to enhance our offerings

Minimum Qualifications

• 7+ years experience in operations and/or treasury focused function from fintech startup, asset manager, or large bank
• Bachelor's degree
• FINRA SIE and Series 99 license or willing to get within the first 60 days of joining
• FINRA Series 27 or willing to get within the first 90 days of joining
• Due to the nature of this position, as part of the background check process, candidates must be able to pass a fingerprint background check to qualify as a fingerprinted person under FINRA. For roles requiring registration, additional regulatory screenings may apply, including a review of Form U5 disclosures and other relevant licensing information.
• Familiarity with various USD payment rails and infrastructure (i.e. Fedwire, SWIFT, CHIPS, ACH, FedNow, etc.) strongly preferred
• Familiarity with SEC/FINRA Broker Dealer regulations such as 15c3-1 Net Capital rules and 15c3-3 Customer Reserve rules strongly preferred
• Proven track record and keen eye for process improvement and streamlining procedures
• Reliable, eager, ambitious, self-starter, strong attention to detail a must
• Self starter "Player / Coach" that does not require a lot of oversight and is willing to dive in to create sustainable solutions
• Team player who is driven to solve problems and meet deliverables
• Previous management experience

Preferred Qualifications

• Experience working with various cash and/or fixed income products a plus

MassMutual is an equal employment opportunity employer. We welcome all persons to apply.
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
Salary Range: $172,000.00-$225,700.00