AVP - Cash Reconciliation

5 days ago

Fort Mill, SC, United States Vaco Full time
Company Overview:
Our client is a well-established, Fortune 500 technology-enabled financial services organization experiencing ongoing growth and transformation. The company fosters a collaborative and dynamic culture with strong leadership and opportunities to impact enterprise-level accounting operations.

ROLE OVERVIEW:
The Assistant Vice President (AVP), Cash Reconciliation is a senior leadership role within Finance & Operations, responsible for overseeing daily cash and asset reconciliation activities and ensuring strict compliance with SEC Rule 15c3-3 (Customer Protection Rule).

This leader plays a critical role in safeguarding the firm’s financial integrity by managing complex reconciliation processes, overseeing the daily Customer Reserve Calculation, strengthening internal controls, and partnering closely with Treasury, Accounting, Compliance, Risk, and Technology teams. The role combines deep technical expertise, regulatory knowledge, and people leadership in a fast-paced broker-dealer environment.

KEY RESPONSIBILITIES:
Cash & Asset Reconciliation Oversight
  • Lead end-to-end daily reconciliation of cash, clearing, suspense accounts, and asset positions across custodians and trading platforms
  • Review and resolve breaks, exceptions, and aged items in accordance with internal policies and FINRA/SEC requirements
  • Oversee interest, corporate actions, and other cash-related activity

Daily Customer Reserve Calculation (SEC Rule 15c3-3)
  • Oversee preparation and review of the daily Customer Reserve Formula calculation, ensuring full regulatory compliance
  • Validate segregation requirements, debit/credit computations, and proprietary balances
  • Coordinate with Treasury, Accounting, and Regulatory Reporting to ensure timely movement of funds into and out of Reserve Bank Accounts
  • Ensure proper documentation, controls, approvals, and audit support for reserve processes
  • Identify and remediate discrepancies, system issues, or calculation breaks

Month-End Close & Accounting
  • Approve journal entries including cash reclasses and interest accruals (daily/monthly)
  • Perform monthly account certifications and reconciliations
  • Provide income statement and balance sheet fluctuation analysis (monthly and quarterly)
  • Support internal and external audits

Governance, Controls & Compliance
  • Maintain and enhance internal controls supporting cash, asset, and reserve processes
  • Partner with Internal Audit, Compliance, and Risk on audits, exams, and regulatory inquiries
  • Ensure adherence to FINRA, SEC, and internal policy requirements

Team Leadership & Development
  • Lead, coach, and develop a team of reconciliation analysts and senior specialists
  • Align resources to meet critical daily deadlines and regulatory timelines
  • Foster a culture of accuracy, risk awareness, accountability, and continuous improvement

Systems & Process Improvement
  • Drive automation and process enhancements across reconciliation and reserve systems
  • Lead UAT, system upgrades, data validations, and performance improvements
  • Partner with technology teams on root cause analysis and remediation of system issues

Reporting & Stakeholder Partnership
  • Deliver daily, weekly, and monthly reconciliation and reserve reporting to senior stakeholders
  • Escalate material reconciliation issues or reserve variances posing financial or regulatory risk
  • Support regulatory filings and financial reporting as required

DESIRED BACKGROUND:
  • Bachelor’s or Master’s degree in Finance, Accounting, Business, or related field
  • 8+ years of experience in finance, accounting, cash reconciliation, broker-dealer operations, or financial controls
  • Series 99 (or ability to obtain within 120 days of hire)
  • Expertise in SEC Rule 15c3-3 and broker-dealer regulatory requirements
  • Proven leadership experience managing teams or senior analysts
  • Advanced Excel skills and experience with reconciliation platforms
  • Experience with Oracle, BETA, Kyriba, or similar broker-dealer systems a plus
  • Prior ownership of Customer Reserve Calculations a plus
  • CPA or other relevant certifications a plus
  • Experience driving automation and process optimization initiatives

Determining compensation for this role (and others) at Vaco/Highspring depends upon a wide array of factors including but not limited to the individual’s skill sets, experience and training, licensure and certifications, office location and other geographic considerations, as well as other business and organizational needs. With that said, as required by local law in geographies that require salary range disclosure, Vaco/Highspring notes the salary range for the role is noted in this job posting. The individual may also be eligible for discretionary bonuses, and can participate in medical, dental, and vision benefits as well as the company’s 401(k) retirement plan. Additional disclaimer: Unless otherwise noted in the job description, the position Vaco/Highspring is filing for is occupied. Please note, however, that Vaco/Highspring is regularly asked to provide talent to other organizations. By submitting to this position, you are agreeing to be included in our talent pool for future hiring for similarly qualified positions. Submissions to this position are subject to the use of AI to perform preliminary candidate screenings, focused on ensuring minimum job requirements noted in the position are satisfied. Further assessment of candidates beyond this initial phase within Vaco/Highspring will be otherwise assessed by recruiters and hiring managers. Vaco/Highspring does not have knowledge of the tools used by its clients in making final hiring decisions and cannot opine on their use of AI products.

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