The Head of Brokerage Trade Operations is responsible for leading Margin, Securities Lending, and Asset Servicing for Vanguard’s retail broker-dealer. This role oversees the operational effectiveness, risk management, and regulatory compliance of mission critical brokerage operations, while also supporting client segments with brokerage domain expertise.
Requirements
- Thorough understanding of securities trading and processing practices, organizations, and technology.
- Detailed knowledge of the financial industry and street side operations specifically, including securities lending, securities borrowing, asset servicing, safekeeping, clearance and settlements, and the rules and regulations that govern them.
- FINRA Series 4, 7, 63, 24.
- May be asked to take Series 27.
- Ability to communicate complex and technical topics in a simplified manner to senior audiences.
Responsibilities
- Leads and manages various brokerage functions (Margin, Securities Lending, Asset Servicing), oversees performance of operation, and ensures compliance with SEC, OCC, FINRA regulations.
- Reviews applicable current and future regulatory requirements and business risks in order to ensure effective supervision including Written Supervisory Procedures (WSPs), operational procedures, and control mechanisms commensurate with changes in market regulation and the business environment.
- Represents the Retail B/D with external regulators and parties for some of Vanguard’s most specialized, complex, and highest risk functions.
- Drives consistent improvement in core processes, including quality rates, improvements in flow of work, and productivity increases.
- Supports the incorporation of Lean, Agile, and Six Sigma Management into Trade Operations, including the use of modern operations tools to evaluate the health and performance of core processes.
- Keeps current on market, regulatory, and industry events.
- Drives the development of the departmental strategic plan and budget.
Other
- Serves as leader of senior brokerage leaders and staff of 65. Provides strategic direction, vision, and coaching.
- Effectively manages performance and actively develops direct reports.
- Manages staff, including cross-site leadership.
- Provides guidance, training and motivation as necessary to develop staff and meet project deliverables.
- An undergraduate degree or equivalent combination of training and experience. MBA preferred.
