Regulatory Operations Analyst | Operations Control Dept. | Memphis, TN or Southfield, MI

Raymond James - Southfield, MI

Full-time - Entry Level

Remote - Southfield, MI

Securities, Commodity Contracts, and Other Financial Investments and Related Activities

About the position

In this role, you will operate under minimal supervision, utilizing your intermediate knowledge and skills gained through experience and training to monitor the possession and control of client assets. Your primary responsibilities will include completing regulatory reporting and assisting the firm in maintaining compliance with industry and firm rules and regulations. You will collaborate with management to identify opportunities for operational efficiency and productivity improvements, aiming to mitigate financial, reputational, and regulatory risks. Additionally, you will assist in interpreting new and changing rules and regulations, updating processes, and departmental procedures with guidance from your Supervisor or Manager. You will also recommend solutions to problems and engage with internal customers and auditors to research, identify, and resolve observations. Furthermore, you will assist in developing and coordinating periodic operational performance reports and scorecards, including trend analysis and recommended strategies, under the guidance of your Supervisor or Manager.

Responsibilities

• Monitor daily securities possession or control requirements to ensure compliance with the Customer Protection Rule (15c3-3) and proactively communicate deficits to the Lines of Business (LOBs).
• Compile and review regulatory reporting information for Weekly Reserve and Monthly FOCUS reporting, ensuring compliance with applicable industry regulations.
• Monitor operational suspense and clearance accounts, inventory, and dealer accounts for compliance with firm accounting policies and industry regulations, escalating issues as necessary.
• Assist in interpreting new or changing securities rules, regulations, policies, or laws, and update processes for compliance as well as departmental procedures.
• Compile operational account information for internal and external auditors with limited oversight.
• Plan and execute remediation efforts for identified issues with minimal guidance, assisting in formalizing milestones for corrective action plans.
• Identify opportunities for operational efficiency and productivity improvements to mitigate risks and suggest solutions to management.
• Assist in the design, planning, and execution of testing strategies, potentially leading testing efforts of other analysts under supervision.
• Assist in developing and coordinating periodic operational performance reports for management, including trend analysis and recommended strategies.
• Participate in projects and perform other duties as assigned.

Requirements

• Bachelor's Degree (B.A.) in a related field and a minimum of two (2) years' experience in accounting, banking, and/or financial services, or an equivalent combination of experience, education, and/or training approved by Human Resources.
• Knowledge of brokerage operations and how functions performed by Operations Control align with business partners.
• Understanding of financial industry rules, regulations, and laws related to Operations Control processes.
• Familiarity with regulatory terminology, concepts, and guidance, as well as the brokerage industry and financial markets.
• Knowledge of accounting principles and concepts, and practices for testing operational systems and processes.
• Skill in conducting quality control reviews and creating procedure and business process workflow documentation.
• Ability to evaluate processes/systems, identify risks and controls, and recommend actions to mitigate risks.

Nice-to-haves

• Experience with Microsoft Office applications, particularly Excel, Access, and PowerPoint.
• Ability to manage multiple tasks with changing priorities in a fast-paced environment.

Benefits

• Hybrid work environment with 40% in-office and up to 60% work-from-home options.
• Comprehensive health insurance coverage.
• 401(k) retirement savings plan with company matching contributions.
• Paid time off and holidays.
• Professional development opportunities.