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Prime Brokerage Manager
Wedbush Morgan Securities - New York City, NY
posted 4 days ago
About the position
Wedbush Securities is one of the largest securities firms and investment banks in the nation. We provide innovative financial solutions through our Wealth Management, Capital Markets, Futures and Advanced Clearing & Prime Services divisions. Headquartered in Los Angeles, California with over 100 offices and more than 80 correspondent offices, our commitment to providing relentless, customized service is the foundation of our consistent growth. Our Correspondent Services Division has an immediate need for a Client Service Associate. This position will be responsible for opening accounts for correspondent broker dealers, client service, and quality control as well as PMA, Prime Broker, and DBA package review.
Responsibilities
- Open different kinds of accounts for our Correspondent Broker-Dealers and ensure proper set up for AML processes
- Create PMA and Prime Broker approval packets for circulation to committee
- Provide Client Service to correspondents on account related inquiries
- Quality control on the compliance and completeness of documents received for new accounts
- Process account adjustments for our Broker-dealers at their request
- Monitor exception reports (P3 Credit Interest, No DAML, CDC)
- Review policies and procedures and make recommendations to management
- Handle returned mail processes
- Perform other duties as required and assigned
Requirements
- Associate's Degree from an accredited university; Bachelor's Degree preferred
- Attention to detail to quality check documents
- Ability to learn rules and guidelines quickly to maintain document compliance
- Ability to communicate professionally to Clients (Broker Dealers) both verbally and written (through email)
- Proficiency in MS Suite
- Financial services industry or understanding of brokerage business is desirable
- Strong organizational and time management skills with attention to detail with problem solving and critical thinking skills
- Excellent customer service skills with the ability to thrive in stressful situations
- Ability to prioritize, multi-task and meet tight deadlines in a fast-paced environment
Benefits
- Comprehensive medical, dental, and vision coverage with multiple health plan options
- Health Savings Account (HSA) with company-sponsored contributions
- Flexible Spending Accounts (FSA) traditional and dependent care
- Pre-Tax Commuter Benefits
- 401(k) Plan: competitive discretionary company matching and profit-sharing contributions
- Tuition reimbursement ($5,250 max per year)
- Paid Vacation, Sick Time, Holidays, Volunteer Time Off
- Paid Leave: Parental Bonding, Jury Duty, Military, Disability, etc.
- FINRA and Professional License Sponsorship
- Charitable Donation Matching Contributions
- Travel & Employee Assistance and Employee Discount Programs
- Discretionary compensation based on the colleague's and the firm's performance
