Lead Ops SpecialistApply Job ID: R-000439 Date posted: 06/05/2017 Primary Location CA-San Diego
The Lead Trade Recon Specialist’s primary function is to support trading and trade settlement for Mutual Funds. The Lead Specialist is responsible for ensuring Mutual Fund trade orders are executed with accuracy for both network level 3 and omnibus transactions. This involves making critical decisions in a time sensitive environment in order to meet inflexible deadlines during early morning hours(when management is often unavailable). 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 Specialist must obtain comprehensive product/system knowledge in addition to maintaining strong crucial relationships both internally/externally.
In order to support the functions detailed below, the Lead Trade Recon Specialist must possess excellent decision making skills, time management skills, and effective communication skills.
•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 trades 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. 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
•Maintain the ability to run daily queries from various reports and operational database
•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.
LPL Financial, the nation’s largest independent broker/dealer since 1996* and the fourth largest broker/dealer overall, serves as an enabling partner to more than 14,000 independent financial advisors and approximately 700 financial institutions. Since its formation decades ago, LPL has focused on one primary mission -- enabling independent financial advisors to bring objective and un-biased financial advice to millions of Americans.
Headquartered in Boston, San Diego, and Fort Mill, and powered by more than 3,300 client-centric employees, LPL is financially strong and growing.
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 1996-2016, based on total revenue.