Licensed Trader

Licensed Trader/Operations Specialist

Boca Raton Florida based RIA Wealth Management firm is seeking a licensed Trader/Operations Specialist to join our team. 

The ideal candidate should have a solid understanding of investment products, financial plans, and alternative investments; along with an extensive background in executing trades in all asset classes: ETFs, Mutual Funds, Alternative Investments, Fixed Income, Structured Notes, Interval Funds, Money Markets, Derivatives/Options. The Trader will be responsible for placing trades for all advisors in our firm along with investment-related operational support, analysis & execution. This role will be collaborating with Financial Advisors on the implementation of financial plans based on the client’s stated objectives and risk tolerance. Additionally, the Trader will monitor our managed models and oversee the ongoing rebalancing of the client's investment plans. The Trader will also be involved in special investment related research and analysis; as needed.

Position Responsibilities

·      All firm trading

o  Processing trade requests from 8+ licensed advisors utilizing Schwab trading institutional platform

o  Work with inv plan associate to verify compliance & suitability with trade requests

o  Analyze market conditions & market volatility for best execution prices

o  Maintain Trade blotter for compliance on a trade by trade basis

o  Confirm trades are filled & executed

o  Rebalancing models and plans as requested by advisory teams

o  Large scale model / investment changes

-Changing positions and or weights of existing holdings in our models

-Managing a large scale investment or position change (example from a structured note to another structured notes with better terms)

-Evaluating credit risk, realized gains, & suitability

o  Tracking interval fund redemptions

o  Cash creation for quarterly management fees

o  Daily monitoring of cash flow transactions & creating cash for margin balances

o  Proactive maintenance of auto deposits/withdrawals & auto trades required for cash flows

o  Creating cash for alternative investments and capital calls

o  Structured notes

-Quote notes through various sources

-Maintain client note purchase requests in adherence with inv plans

-Purchase notes on trade date under the firm’s master ID and allocate to designated accounts from purchase list

-Work with Fixed Income trading desk at Schwab to get bids for requested sells of structured notes as needed

-Track performance of notes (missed coupons of income notes, intrinsic value vs pricing of growth notes, etc.)

-Work with advisory teams as notes mature or get called for reinvestment

·       Maintenance of Portfolio Management Program (Tamarac Reporting)

o  Responsible for position definitions (utilizing Morningstar and other resources as needed) to define investments with accurate asset category, projected income, etc.

o  Input and adherence to client Investment Plan Target Allocations

o  Use of Tamarac reporting to run & manage bulk security reports

·       Operational Processing

o  Set up distributions (wires/money movements) for advisors after cash creation

o  Monitoring & analyzing corporate actions & communicating with Advisors with any necessary implementations

o  Tracking, processing, and documenting trade errors and cancel/rebills

o  Roth Conversions (processing in kind conversions)

·       Analysis & Research

o  Cost Basis analysis of transferred positions with an emphasis on tax implications

o  As needed by various advisory teams, research a position, investment or strategy

o  Back test various strategies for viability

o  Run time value scenarios for various marketing pieces

o  Back testing & analysis of tactical trading strategies and models

o  Heavy use Microsoft EXCEL for various trading strategies, work flow management, rebalancing & special projects (Vlookups, index/match, pivot tables)

·       Reporting / Illustrations

o  Use of Morningstar to run client existing snapshots & analysis of investment products

o  Use of SIPS to run income projections

o  Use of planning programs (money guide & retirement analyzer) as needed to assist Advisors

o  Use of Holistiplan and Tax Report card to run tax reports & analysis

·       Structured Settlements

o  Value these as they’re presented by factoring companies

o  Assist in having court orders and stipulations reviewed & working with associated attorneys involved for execution

o  If payment servicer is needed, work with them on all needed documentation

·       Quarterly Investment Committee

o  Report quarterly performance & analysis of our models, investments, strategies & indexes using Morningstar

o  Create agenda & lead meeting; facilitating guest speakers, etc.

o  Implement firm-wide changes resulting from meeting decisions

·       Annual RMD Project

o  Lead master “Required Minimum Distributions” project firm wide

o  Calculating & tracking satisfied/needed/in-process RMDs

o  Assist advisors in workflow management of their RMDs

Qualifications: 

·       Series 65 License REQUIRED

·       Education:  Bachelors degree

·       2+ years experience in Financial/Wealth Management trading, analysis & planning

·       Technology savvy; initiative to learn, explore, and implement new technology 

·       Working knowledge of Microsoft Office; solid understanding needed with Excel 

·       Good personal appearance and habits 

·       Must be able to successfully pass both criminal and financial background checks 

·       Personable, professional, confident, flexible, detailed oriented and a quick worker 

·       Attention to detail and accuracy 

·       Strong organizational skills

·       Monday-Friday 8:30-5:30; potential for hybrid or remote 

Salary: 

·       $80-90K/ year depending on experience 

Benefits/PTO:

·       2 Weeks PTO & all market holidays off

·       Medical, Dental & Vision insurance offered

·       Long term & short term disability

·       Retirement Plan