Rep Custody Ops MO
Location: Fort Worth, Texas
Description: TD Ameritrade is presently looking of Rep Custody Ops MO right now, this position will be reside in Texas. For detail informations about this position opportunity kindly see the descriptions. Job Title: Rep, Custody Ops MO
Job ID: 102171
Job Location: Fort Worth, Texas
Employment Type: Full-Time
Contract Type: Regular
Manager Level: Suppo! rt Level
A leader in brokerage and investment services for over 35 years, TD Ameritrade offers a full spectrum of powerful solutions and innovative tools for trading and investing. We're constantly expanding our knowledge and bolstering our capabilities, from a leading active trader program to intuitive long-term investment solutions and a national branch system. Combined with some of the industry's brightest minds, there's no limit to how big our accomplishments can be.
From first-time investors to sophisticated traders, TD Ameritrade is focused on helping individuals seek out their financial goals. And you're the ambassador to all that we do. Beginning with our trading platform and proprietary technology to our resolve to outperform, you'll maintain the high level of quality and integrity we're known for, each and every day. With the right opportunity, there's no limit to what you can accomplish.
As a leading employer in financial services, we believe in ! building strong relationships, achieving quality results and w! orking with integrity. It's at the heart of everything we do. That's why we provide you with comprehensive training, benefits and programs that inspire you to achieve more every day. Apply to a TD Ameritrade job today and help our clients pursue their dreams, while you fulfill yours.
Applicants must be eligible to work in the U.S. Immigration sponsorship is typically not available for this position.
Role :
The Restricted and Safekeeping Broker is a specialty broker position. An Analyst in this role is responsible for providing exceptional service by acting as a liaison between all of our clients both internal and external as well as various third parties. The Analyst will need to be able to educate and facilitate all clients with inquiries to the department in a timely manner. This includes the ability to place Restricted Trades and handle inbound and outbound calls regarding Safekeeping and Restricted Stock, Direct Registration System (DRS) transfer! s and Affiliate inquiries. The Analyst must also be cognizant of proper affiliate controls (documentation requirements, researching multiple accounts for potential affiliation using several systems). The Analyst will review notes and make a determination if we have sufficient information on file to place restricted stock trades in coordination with the restricted and safekeeping processor.
Due to the complexity of this role, the Analyst needs to be able to clearly and succinctly explain complex regulations (such as such as SEC Rule 144/904/701/145 and sell by prospectus) to the end client while accurately communicating the information received and processing trades according to those guidelines. The Analyst must be able to communicate across locations in order to make sure the information provided to the client is accurate and processed in a timely manner. The Analyst must be aware and properly execute on a client’s affiliation/insider status which includes the sale o! f securities by a person that owns more than 10% of a particular stock ! or is an insider of the company. An insider would be an officer or director who is involved in policy making and has access to confidential information The Analyst must communicate any information they receive regarding Affiliation or Insider Status and ensure the accounts are properly noted and documented as such.
Risk in this role could occur by failing to take appropriate action, such as the Analyst may put TD Ameritrade out of compliance with SEC and FINRA regulations for Restricted Stock trading and deposits. If a trade is incorrectly placed or an affiliation not correctly communicated for the clients, the firm is exposed to monetary risk in regards to having to repurchase the position for the client or ‘buy the clients back in’ and receive fines from regulatory authority. Client’s shares may have to be bought back in if the appropriate paperwork is not received/requested and procedure is not properly followed. The analyst must communicate clearly with all de! partments and the clients on paperwork that is needed to complete the sales. The Analyst may need to facilitate a buy trade in the open market (buyback) in order to make the client’s account whole and keep the firm in compliance with industry regulations. The price the client is bought in at may be significantly higher than what they sold the security for. The analyst must also be paying good attention to detail as they are asked to be performing other duties in between phone calls.
This role is unique to TD Ameritrade when compared to similar roles in the market. The Analysts are asked to perform DRS transfers, respond to client inquiries via Kana’s, and help process branch images on the side in addition to placing trades and making callouts to clients and legal counsels.
This role is critical to other TDA teams/departments as the Analyst assists Retail, Institutional and the Branch Network and departments within Brokerage Operations with communicating and proc! essing of Restricted Stock as well as the completion of asset gathering! for stock certificates and DRS Transfers for the firm.
This role is critical to the client as the role is a client facing role and is responsible for ensuring deposits are correctly made into the accounts, trades are placed within the correct time frames, and assets are transferred appropriately via DRS. The Analyst daily assists with growing the company’s net new assets averaging 8-10 million of new assets per day. The Analyst is an advocate for the client within the department and other teams while also balancing risk to the firm. . Improper interpretation of documents for restricted stock and control shares can cause SEC rule violations and potential legal implications/loss of opportunity for the client. The Analyst works on behalf of the client to avoid buy back issues which helps mitigate risk for the client and the firm.
This role is critical to the shareholder as this role manages risk to ensure the firm is compliant with industry regulations and TD Amerit! rade’s reputation regarding stock deposits. The Analyst must trade within SEC guidelines and occasionally buy clients in if the necessary paperwork is not submitted. These must be done in a timely manner in order to mitigate risk to the firm and reduce expense to the shareholder.
When looking at this role from a predictability standpoint: Analysts will be taking inbound and making outbound calls daily. The Analysts are asked to perform DRS transfers, respond to client inquiries via Kana’s, and help process branch images on the side in addition to placing trades and making callouts to clients, Transfer Agents and legal counsels.
Unexpected events could occur in this role as this role offers new challenges daily as market conditions can change at any time. The Analyst needs to be able to adjust to new information that comes in regarding securities processing and make sound decisions. The Analyst must be able to identify new or unique information and communi! cate that to the client. The Analyst must determine when to advocate fo! r client exceptions outside of the normal policy while keeping risk to the firm/adherence to all SEC/FINRA rules as guidance.
This role interacts with many other TD Ameritrade departments and their Associates such as: Alternative Investments, Settlements, Retirement Account Services, Client Account Services, Compliance, Risk Analytics, Trading, Fixed Income, Branch Associates, Resource Desk, Priority Response Desk, ACATs, Corporate Actions and Government Reporting. The Analyst serves as the initial point of contact for cage issues. They work in conjunction with these departments to handle escalated/complex issues regarding deposits and transfers to resolve the client’s issues. The Analyst works extensively with the branches and troubleshoots any deposit/transfer issues to assist in bringing in further assets to the firm. The Analyst will work on behalf of the branch and client to work with processors in many departments to ensure the client is able to deposit or sell ! their securities.
This role interacts with external clients. External clients include the end client, transfer agents and attorneys who are writing legal opinions. Analysts will interact with external clients to obtain necessary paperwork to process the certificate deposit or clearance of restricted or control shares. Analysts also work with DTCC, TA’s and TD UK to resolve issues regarding deposits and transfers.
This position’s responsibilities include employing Cage processing guidelines in evaluating client requests placing trades, and using discretion when necessary. Analysts must use solid judgment in organizing and prioritizing work, deferring to a supervisor only for matters related to exceptions and unique circumstances. Analysts must be able to make on-the-spot decisions when communicating with clients involving complicated matters. Analysts will work from designated phone queues, of which volume averages 60/40% internal to external customer calls.
! The Cage Dept. handles millions of dollars in assets daily, in both phy! sical and non-physical form. The groups process settlement and transfer of assets through DTCC, Transfer Agents, Foreign Custodians, Investment sponsors, and Broker Dealers. Due to the large value associated with these movements, risk exposure to the firm, both monetary and regulatory, is extremely high.
Responsibilities:
Placing restricted stock trades pursuant to Rules 144, 145,701, 904 and prospectus sales
Assist processing team in obtaining needed documentation to grant extensions to the buy-back rule
Processing of DRS Transfers, Stock Certificate deposits/withdrawals and KANA inquiries between calls
Understand and assist clients who are affiliates of issuers to ensure guidelines are meet for proper reporting and trading issues
Ability to make sound business decisions and enforce company policy in accordance with applicable industry regulations and firm policies
Advocate for the clients best interest while! balancing risk to the firm/adherence to FINRA/SEC guidelines
Influence business partners to do what is necessary to meet client needs
Provide accurate and responsive information to assist representatives in the answering regarding complex Cage inquiries
Participate in other critical company functional areas as required
Identify and escalate client concerns to management based upon industry trends
Assist team members in the understanding of current policy and procedures
Work with Transfer Agents and clients to trouble shoot processing issues related to DRS processing
Obtaining, explaining, and interpreting SEC forms and working with issuers legal counsel to ensure documentation is in good order prior to placing trades
Discuss and explain to clients complicated buy-back rules and procedures associated with Restricted Stock trading and transaction processing
Work with processing team and Operatio! ns Control to grant extensions provided by FINRA under Restricted Stock! Clearance rules
Active participation in and suggestions for Problem Solving Sessions both from their own ideas to improve processes and advocating suggestions given by clients to improve the processes
Create standard work for fellow associates to enhance best practices both for efficiency and quality of work
Point of contact for client inquiries regarding Safekeeping, Restricted and DRS Transactions, rules, regulations, and procedures.
Assist internal business partners on escalated issues involving clients
Explaining, obtaining, and interpreting SEC forms and working with issuers legal counsel to ensure documentation is in good order prior to placing trades
Facilitate communication with clients on complex buy-back issues for securities under SEC rule 15c3-3
Outbound calls to clients educating them on necessary paperwork to complete deposits and enable trades/removing of restricted legends
Act as liaiso! n between customer, TDA, and third party entities, including but not limited to:
Transfer Agents
Internal and External Clients
Attorneys
Issuers legal counsel
Retail, ICD, Branch Network, Reorg, AI, Operations Control, Access Control, Settlements, Treasury, FIGG
Requirements:
Education Level required: 2 Year College Degree or equivalent experience
Education Level preferred: 4 Year College Degree in Business/Finance
Years Related Experience: 1-3 Years
Attention to detail
High degree of client service
Ability to understand and apply rules and regulations
Proficient in Microsoft Excel and Outlook
Excellent communication skills
Knowledge and understanding of the Direct Registration Statement (DRS) system, preferred
Knowledge and understanding of Restricted Stock Regulations, preferred
Knowledge and unders! tanding of DTCC deposit systems, preferred
Previous Securities! background, preferred
Knowledge of trading, preferred
Ability to learn, retain and apply new information and skills in an efficient and effective manner
Is able to successfully prioritize when faced with requests, demands and deadlines
Builds a culture committed to excellence
Maximizes individual resources and energies
Ability to apply analytical skills for effective problem solving towards the goal of continuous improvement
Ability to collaborate within and across teams
Communicates with thoroughness and clarity in an honest and transparent manner
Flexible and responsive to change
Able to focus and perform under stress
Works with high sense of urgency
Displays resiliency when facing challenges
Consistently displays professionalism and composure across all circumstances, environments and personnel
Participates in meetings in an engaged and pos
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If you were eligible to this position, please email us your resume, with salary requirements and a resume to TD Ameritrade.
Interested on this position, just click on the Apply button, you will be redirected to the official website
This position will be opened on: Sat, 16 Nov 2013 14:33:48 GMT