Description
The Buy In Dept. supports all Stock Loan recall and Buy In activity for the firm.The group provides direct support to the sales and trading desk, equity and corporate finance desks and interfaces with many other operational groups ensuring market, regulatory and counterparty risk associated with failed trades are effectively managed.
Main Duties
* Main function of the job includes controlling and providing support for settlement activity both domestic and International.
* Liaise with the Sales assistants and trader assistants as well as various trading and finance desks, customers and counterparts, and other internal operations and finance areas to ensure tasks are processed in an efficient manner and the business is properly supported and well controlled.
* Detailed understanding of stock loan recall and/or buy in related functions
* Detailed understanding of industry rules including Reg SHO/Rule 204, FINRA 11810 and SEC 15c3-3
* Perform exception processing
* Resolve and provide commentary for any cash or stock related breaks.
* Process broker to broker and stock loan buy in entries in ADP and IMPACT
* Participate in new business initiatives and process improvement projects.
* Provide high level of service to internal and external client inquiries
* The individual is also expected to proactively suggest improvements to processes, system, and controls.
Bachelors Degree or equivalent
* 2-5 years Securities Operations experience
* Knowledge of ADP, IMPACT, Loanet and Global One
Preferred Qualifications
* Knowledge of DTC, NSCC Rules & Procedures
* Ability to identify risk