Oversight Specialist - Clearing and Custody

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At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you're helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

Job Title

Oversight Specialist - Clearing and Custody

Job Description

What is the opportunity?

As an Oversight Specialist for the clearing and custody team you will support Registered Investment Advisors by conducting numerous branch administrative supervision functions in accordance with relevant firm and regulatory policies and procedures for the Advisor Services (AS) channel. Support correspondent broker/dealers (BDs) clearing through RBC C&C who are increasingly looking to their clearing firms for support which helps them to understand and comply with complex regulatory requirements.

If you are a detail oriented, enjoy working in an agile deadline driven environment and would like to progress your career by managing effective relationships then we want to hear from you!

What will you do?

• Review and oversight Postedge exception reports. Work with RIA or Correspondent firms' personnel to mitigate any issues and/or provide information to RIAs.
• Review new accounts and account updates to ensure necessary documentation was received and requests were properly processed
• Process WorkFlow and email requests for items such as margin coding, options coding, deceased coding, rep changes, account changes, and block removal.
• Establish and maintain effective relationships with key personnel in key functions including Compliance, Legal, and Operations
• Review Low Priced securities deposits that fall under Section 5 of the 1933 Securities Act. Maintain internal communication between AML and C&C management to potentially problematic deposits.
• Support AML Group with inquiries to RIAs and BDs including, but not limited to, foreign bank certifications, account closures, and account investigations. Provide guidance to correspondent firms on regulatory and compliance matters
• Act as a key service partner for C&C firms' management to provide guidance on regulatory and compliance matters
• Manage relationships and communication with key points of contact at correspondent firms and RIAs.
• Remain current on industry rules, regulations and practices.
• Consult with and support C&C internal partners to develop and prioritize initiatives, building consensus within the C&C business on design and implementation.
• Ensure that C&C management are informed about issues before they escalate, and can intervene as appropriate.
• Other job related tasks and duties as assigned

What do you need to succeed?

Must-have

• Bachelor's degree or equivalent experience of 3 years in financial services experience
• An understanding of the stock market, investments and retirement plans
• Working knowledge of fixed income products, equities, mutual funds, insurance and annuities
• Series 7 (mandatory) and Series 4 or Series 24 or Series 9/10; OR the ability to acquire Series 24 within 3 months after joining
• Advanced computer skills (including Microsoft Office); Strong customer service skills and problem solving ability

Nice-to-have

• Establish and maintain effective relationships with key personnel in key functions including Compliance, Legal, and Operations
• Intermediate interpersonal verbal and written communication skills
• Demonstrated analytical, organizational and problem solving skills; Comfortable working in fast paced ever-evolving environment
• Strong customer service skills and problem solving ability

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Flexible work/life balance options
• Opportunities to do challenging work
• Opportunities to take on progressively greater accountabilities
• Access to a variety of job opportunities across business

Job Summary

Supports RBC Clearing & Custody firms to manage risks and improved processes. Applies experience and seasoned knowledge, skills, and practices to perform a variety of assignments.

Address:

Minneapolis, Minnesota, United States of America

City:

USA-MN-MINNEAPOLIS

Country:

United States of America

Work hours/week:

40

Employment Type:

Full time

Platform:

Wealth Management

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2023-09-07

Application Deadline:

2023-10-09

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.

We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at rbc.com/careers.