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Lead Ops Specialist

Job ID: R-008434 Date posted: 01/06/2020 Primary Location SC-Fort Mill Other Locations CA-San Diego

The primary function of the Lead Ops Specialist within the Trading Operations department is to support trading and trade settlement for Mutual Funds, in addition to supporting operational trading processes for mutual funds, equities, unit investment trusts, precious metals, and commodities. The Lead Ops Specialist is responsible for ensuring Mutual Fund trade orders are executed with accuracy for both network level 3 and omnibus transactions.  This involves independently making critical decisions in a time sensitive environment in order to meet inflexible deadlines, often during early morning hours. Due to the prevalence of the Omnibus Trading model, this consists of coordinating for larger scale transaction processing which is vital to mitigating risk to the firm and its customers. As a result, the Lead Ops Specialist must obtain comprehensive product and system knowledge, in addition to maintaining strong relationships with internal and external partners.

In order to support the functions detailed below, the Lead Ops Specialist must possess excellent decision making skills, time management skills, and effective communication skills.  

Essential Functions:

  • Ensuring Mutual Fund trades are successfully processed across all Mutual Fund sponsors, transfer agents and our omnibus vendor. This requires a comprehensive understanding of Mutual Fund products and fund sponsor trading rules as defined in each fund's prospectus
  • Ensuring price protection is secured for necessary trade rejects on behalf of our advisors and clients while mitigating market risk to the firm. This is conducted in time sensitive environment with price protection deadlines ranging from 5 a.m. to 9 a.m EST. each day
  • Communicating with advisors and responding to inquiries as it relates to Mutual Fund trade status. Coordinating with the Mutual Fund trade desk to facilitate proper execution of trades
  • Communicating closely with transfer agents, fund sponsors and our Omnibus vendor to support trade processing, while implementing process enhancements that improve the customer experience. Identify trends in trade rejects and work with various internal/external business partners to create efficiencies that  reduce the number of customer/LPL trade rejects
  • Ensure compliance with regulatory requirements and adapt to regulatory changes. Actively review procedures, identify areas of risk, and ensure controls are in place to mitigate risk
  • Support operational trading processes of mutual funds, equities, unit investment trusts, precious metals, and commodities.

Other Job Duties:

  • Maintain the ability to run daily queries from various reports and operational databases
  • Must understand accounting in order to reconcile cash transaction accounts and general ledgers daily
  • Provide reconciliation support and oversight to 3rd party Omnibus trading vendor
  • Manual data entry to move cash and shares across back-office accounts
  • Support trade desk calls during high volumes or outages
  • Develop and maintain relationships with business partners such as Mutual Fund sponsors, transfer agents, and Omnibus vendors

Job Requirements:

  • Minimum Education Required: Bachelor's Degree (Focus on Finance or Economics preferred).
  • Minimum Experience Required: 3-5 years within the Financial Services Industry (Trading experience is preferred)
  • Licenses/Certifications: Series 7 ,63 or 66 preferred
  • Software/Systems Skills Required/Preferred: BETA, MS Office Suite (Excel, Word, Outlook, Access), Siebel, Morningstar
  • Attention to detail and strong analytical skills, with ability to make independent decisions.
  • Strong time management and communication skills
  • Ability to work independently and within a group setting
  • Ability to handle fast-paced and deadline driven environment
  • Knowledge of Mutual Fund products and trading environment
  • Knowledge of trading regulations and requirements

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.

Our Culture:

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.

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