Reg SHO Compliance Officer

About the position

At Clear Street, we dedicate ourselves to maintaining the highest standards of integrity and compliance within our trading operations. We are seeking an experienced Reg SHO Compliance Officer who will specialize in overseeing the company's adherence to the requirements of Reg SHO, with a focus on Rule 204. The Reg SHO Specialist will report directly to the Head of Custody Operations with a dotted reporting line to the Chief Compliance Officer. This individual will be responsible for managing and enhancing the compliance framework for Rules 203 and 204 under Reg SHO. The role involves detailed monitoring, reporting and advising on the company's activities that relate to short sales and close-outs of fail-to-deliver positions. The Reg SHO Specialist will provide guidance on the appropriate application of Reg SHO and the SEC's FAQs related to Reg SHO to specific scenarios that arise in the company's trading, market making, clearing and custody operations. The successful candidate will ensure that the company meets applicable regulatory requirements, mitigates regulatory and operational risk and upholds our commitment to lawful and ethical trading practices.

Responsibilities

• Maintain, administer and enhance compliance policies and procedures and written supervisory procedures related to Reg SHO, particularly focusing on Rule 204.
• Monitor and analyze Reg SHO obligations and aging reports to identify and resolve any issues in real time.
• Work closely with stock loan desk and trading personnel to address any questions or interpretive issues related to Reg SHO.
• Prepare and submit timely reports to internal stakeholders on Reg SHO compliance.
• Draft responses to regulatory inquiries and escalate any issues promptly to the Head of Custody Operations, the Head of the Equity Finance Desk and the CCO.
• Manage client notification process and, when applicable, the penalty box process.
• Train and educate staff on Reg SHO compliance issues, best practices and relevant enforcement proceedings.
• Develop and manage relationships with outside counsel and regulators.

Requirements

• At least 5 years of professional experience in financial services working across compliance or operations functions at a prime broker and/or clearing firm.
• At least 3 years of professional experience in a compliance or control function experience administering the Reg SHO compliance program at a prime broker and/or clearing firm.
• Bachelor degree in Finance, Economics or other similar discipline.
• Experience interacting directly with FINRA and SEC regulators.
• Strong analytical and problem-solving skills.
• Excellent communication skills, both written and verbal, with the ability to interact effectively with all levels of staff and senior management.
• Ability to develop and implement operational processes and procedures around Reg SHO compliance.
• Ability to work in a fast-paced environment, work independently and quickly synthesize information to drive timely decision-making.

Benefits

• Competitive compensation packages
• Company equity
• 401k matching
• Gender neutral parental leave
• Full medical, dental and vision insurance
• In-office benefits including lunch stipends, fully stocked kitchens, happy hours, a great location, and amazing views.