Equity Trading AdministratorApply Job ID: R-005955 Date posted: 02/14/2019 Primary Location CA-San Diego
The Equity Trading Administrator is a core role within the equity trading desk. In addition to having all the power and job functions of a normal trader, this individual has additional responsibilities including but not limited to:
- routing larger equity and option orders
- monitoring and maintaining technical connections with various market centers
- communicating and managing the vendor relationships
- controlling and managing the impact of corporate action events on open orders
- monitoring trades for trade breaks and other trade settlement issues
- maintaining account balancing within LPL inventory accounts
- Documenting all policies, procedures and controls for the equity trade desk.
Additionally, this role is within a call center environment, taking 25-45 calls a day from advisors, clients and internal partners with a focus on customer service. The administrator should have an in-depth knowledge of equity, ETF and option markets and appreciates the market impact and execution complexity of large trades. It’s expected that the administrator also possess strong technical and analytical skills. This role will offer the ability to collaborate and gain insight into multiple internal departments including but not limited to, other trading desks, Technology, Purchase and Sales, Corporate Actions teams as well as a variety of outside firms and vendors.
1. Demonstrate a strong knowledge of market mechanics & conditions, LPL operations, Beta, trading platforms, and other areas of the Trade desk. Assist advisors with recommdations of order placements.
2. Demonstrate exceptional customer service skills with the ability to educate advisors and clients with strong level of expertise.
3. Comply with regulatory requirements, adapt to new regulatory changes. Have a thorough understanding of internal and external audits, actively review procedures, identify areas of risk, and ensure proper controls are followed.
4. Maintain high level knowledge of LPL processes and system platforms as they relate to Equity Trading and other areas that interact with trading. Help facilitate training programs for the group as well as other business units as needed. Represent Equity Trading as the subject matter expert for new projects when needed.
5. Demonstrate problem solving and decision making. Identifying trading and settlement issues by working with the market centers and exchanges. Apply good judgment when routing large equity and option orders. Act as a primary point of contact for market centers and other execution venues in addition to following, updating and maintaining all administrative procedures.
Other Job Duties:
1. Familiarity with rebalancing systems, i.e. FISERV, Security APL, & Advent Moxy
2. Understanding of ACT and OATs reporting
Minimum Education required: Bachelor’s Degree (focus in: finance preferred, but not required)
Minimum Experience required: (including years of experience) 3-5 years (focus in: Equity Trading)
Licenses/Certifications Required/Preferred: FINRA 7, 63 & 57 preferred
Proficient in the following required: MS Word, Excel & Outlook (Beta Preferred)
About LPL Financial:
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker/dealer*. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions. LPL and its affiliates have more than 3,700 employees with primary offices in Boston, Charlotte, and San Diego.
If you join LPL, you will join a culture that believes in delivering a world-class client experience and looks to all employees to contribute to that goal by sharing their creativity, experience, and passion for continuous improvement. As a destination of choice, our top priorities are growth and development, social responsibility, and financial health for our employees.
We offer competitive compensation and industry leading benefits, including a wellness facility with onsite fitness classes, healthy meal choices, and a walk-in clinic. We support employee financial health through a 401k match, ESPP, and employee discounts. Work/life balance is our foundation and is supported through paid holidays, and paid time off (including time to volunteer). We foster a diverse work environment through Employee Resource Groups and diverse strategic partnerships.
Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please login or create an account to apply to this position. Principals only. EOE
*As reported by Financial Planning magazine, June 1996-2017, based on total revenue.