Head of Mutual Funds and Cash Management Operations

Charlotte, NC, United States

This position is open in Charlotte, North Carolina and New York.

Role Description

FNZ Securities USA, headquartered in New York City, is a self-clearing broker-dealer which provides fully disclosed clearing and custody services to introducing broker-dealers and RIAs in the wealth management space. We are currently going through the application process with FINRA to become a licensed clearing broker-dealer and we expect to commence operations in 2024.

This is a fantastic opportunity and is needed as soon as possible in order to help plan for and build out the operations and credit technology, processes and team prior to commencement of operations.

Role Responsibilities

Manage a team of associates responsible for all aspects of operational processing for the mutual fund and cash management products inclusive of trade processing, settlement, and reconciliation activities.

Develop and implement operational policies, procedures, and controls to ensure compliance with regulatory requirements and industry standards.

Lead a team of operations professionals, providing guidance, mentorship, and support.

Foster a culture of teamwork, collaboration, and continuous improvement within the operations team.

Stay abreast of regulatory changes impacting mutual fund operations and ensure compliance with relevant laws and regulations.

Work in a collaborative manner with the 2nd and 3rd lines of defense to ensure regulatory compliance and timely responses to regulatory inquiries.

Identify, assess, and mitigate operational risks associated with mutual fund and cash management activities. Implement risk management strategies and protocols to safeguard fund assets.

Work closely with technology teams to develop, implement and maintain systems that support mutual fund operations. Evaluate and recommend enhancements to technological infrastructure to improve operational efficiency.

Establish key performance indicators (KPIs) for mutual fund operations and regularly assess performance against benchmarks. Implement measures to enhance operational performance and address any identified issues.

Provide regular updates to senior management on the performance and status of mutual fund and cash management operations. Prepare reports for regulatory authorities and internal stakeholders as required.

Coordinate with product team on all mutual fund and cash management relationships.

Minimum Requirements:

7+ years of industry-relevant experience managing operational functions in a self-clearing US broker-dealer operating in the wealth management space

Currently holds a FINRA Series 24 license

Bachelor's degree in finance, business, or a related field. Advanced degrees (e.g., MBA) may be preferred

In-depth knowledge of operational processes and regulatory requirements related to mutual funds and money market funds

Strong leadership and managerial skills

Excellent communication and interpersonal skills

Analytical mindset with the ability to identify and address operational risks

Willingness to adapt and respond appropriately to new demands, priorities, challenges, and obstacles

Preferred Experience:

Experience managing mutual funds and cash management operations at a self-clearing broker-dealer that provides trade, clearing, and custody services to introducing broker-dealers

Experience reporting directly to the executive management and working closely with other executives to align on the firm's overall business strategy

Experience managing teams in multiple locations and leveraging shared services

Extensive experience in mutual fund operations, with a strong understanding of industry best practices including detailed knowledge of operational processes, NSCC FundSERV and omnibus processing platforms.

Experience and knowledge in the development of cash management platforms including both money fund and FDIC-insured products

About FNZ Culture

Our culture is what drives us. It's at the heart of who we are and everything we do. It's what inspires, excites, and moves us forward. Our ambition is to create a culture for growth, one that opens up limitless opportunities for our employees, customers and the wider world. At FNZ we know that great impact is only possible with great teamwork.

That's why we value the strength and diversity of thought in our global team.

The FNZ Way is the cornerstone of what we do. It is comprised of four values that set the standard for how everyone at FNZ interacts with each other, with our customers, and with all our diverse stakeholders around the world.

1. Care hard for customers and each other

2. Bring ambition to everything we do

3. Own it all the way

4. Work as one open team

Read more about The FNZ Way and our values: www.fnz.com/culture

Opportunities

Right from day one, you will work alongside exceptional, multicultural teams - experts in their respective fields - who will inspire and challenge you to make your greatest impact.

Be part of a highly successful, rapidly growing, global business that is leading the delivery of financial services via cloud computing and partners with some of the world's largest companies;

Working in a flexible and agile way that meets the needs of the business and personal circumstances;

Remuneration, significant financial rewards and career advancement is based on individual contribution and business impact rather than tenure or seniority;

We provide global career opportunities for our best employees at any of our offices in the UK, EU, US, Canada, South Africa, and APAC.

Commitment to Equal Opportunities

At FNZ, we recognise that diversity, equity and inclusion are important factors contributing to our success. We embrace the unique perspective and capabilities of our current and future employees, which will help us continue to drive innovation and achieve our business goals. Recruitment decisions at FNZ are made in a non-discriminatory manner without regard to gender, ethnicity/race, faith, age, nationality, gender identity, sexual orientation, marital status, socio-economic background, disability or military veteran status where all applicants and employees are valued and respected.

In addition, we want to ensure accessibility needs are well supported, if you require specific support please advise us.

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About FNZ

FNZ is committed to opening up wealth so that everyone, everywhere can invest in their future on their terms. We know the foundation to do that already exists in the wealth management industry, but complexity holds firms back.

We created wealth's growth platform to help. We provide a global, end-to-end wealth management platform that integrates modern technology with business and investment operations. All in a regulated financial institution.

We partner with over 650 financial institutions and 12,000 wealth managers, with US$1.5 trillion in assets under administration (AUA).

Together with our customers, we help over 20 million people from all wealth segments to invest in their future.

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