Compliance Examiner – Membership Application Program recruitment
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MAP Examiners review or investigate, in the context of new and continuing membership applications, risk areas of broker-dealers and allegations of wrong-doing or other non-compliant conduct to protect investors and ensure the integrity of the U.S. financial markets. This position requires excellent analytical and communication skills, consistently high productivity levels and work quality (frequently under tight deadlines), excellent collaboration skills, and a strong commitment to ensuring that the securities industry operates fairly and honestly. Essential Job Functions:
- Conducts reviews of applications and supporting documentation of applicants and firms seeking new or continuing membership with FINRA and certain other self-regulatory organizations. Communicates regularly throughout the application process with firm/applicant management, consultants and counsel.
- Evaluates requests of firms seeking FINRA's position on whether a proposed activity would constitute a material change in business and thus require the filing of a continuing membership application.
- Conducts reviews related to applicant firms' finances and operations; sales, underwriting and trading practices; and supervisory and compliance policies, procedures, internal controls and systems to determine compliance with established standards and rule requirements.
- Analyzes sales practices, investigates disclosure history, and reviews constituent documents (e.g. By-Laws, Operating Agreement, etc.), legal documents (e.g. purchase agreements), regulatory filings, qualifications and licenses, and sources of funding for applicants/ broker-dealers and their associated persons in the context of determining whether to grant, grant with restriction, or deny an application.
- Assesses adequacy of member firms' financial condition and validates accuracy of regulatory filings, net capital computations and books and records.
- Develops evidence and analysis in support of membership application decisions; conducts or participates in interviews and depositions of customers, member firm personnel and others; partners with other member regulation staff, enforcement attorneys and other FINRA staff in the evaluation of applications; and testifies at appeal and administrative hearings.
- Creates supporting documentation to evidence the scope of reviews conducted and the accuracy of conclusions reached.
- Provides comprehensive written and oral reports to broker-dealer executives, consultants/ counsel and FINRA management, including information relating to regulatory concerns noted during application reviews. Prepares written recommendations regarding application decision or recommendation, formal decision letters citing the decision basis, and membership agreements.
- Acquires, maintains and continues to develop core skills and knowledge of relevant rules, regulations, and guidelines through completion of FINRA's structured training programs, which may include attendance at instructor-led classroom training in and outside New York, self-paced learning (print-based and computer-based), and on-the-job training with the support of more experienced examiners or managers. Candidates may have opportunities to coach and guide less experienced examiners.
- May participate in special projects and initiatives.
Qualifications Education/Experience Requirements:
- Bachelor's degree in Finance, Accounting, Business Administration or a related discipline preferred, with a minimum of three (3) accounting courses required. Advanced degree preferred.
- Directly related experience in a securities, finance, regulatory or auditing role is highly preferred. Knowledge of FINRA and SEC rules and regulations is a plus.
- Excellent interpersonal, written and verbal communication skills and competence with office software applications are essential.
- Applicants must achieve an acceptable rating on a pre-employment assessment of writing skills.
- The specific grade level for a successful candidate will be determined based on FINRA's assessment of level of supervision and guidance required by the candidate; level of expertise in securities products, practices, rules and regulations; and level of ability to independently conduct complex work in a quality manner.
Working Conditions: Work is normally performed in an office environment, at FINRA premises or at member firms' offices. Extended hours are frequently required. Overnight travel may be occasionally required (including time for partial or full participation in FINRA's eleven (11) week examiner training program in Rockville, MD during the first year of employment.) FINRA examiners work in a team environment, with opportunities to interact with broker-dealer and FINRA senior managers. The information provided above has been designed to indicate the general nature and level of work of the position. It is not a comprehensive inventory of all duties, responsibilities and qualifications required. Please note: If the "Apply Now" button on a job board posting does not take you directly to the FINRA Careers site, enter www.finra.org/careers into your browser to reach our site directly. FINRA strives to make our career site accessible to all users. If you need a disability-related accommodation for completing the application process, please contact FINRA's accommodation help line at (240) 386-4865. Please note that this number is exclusively for inquiries regarding application accommodations. In addition to a competitive salary, comprehensive health and welfare benefits, and incentive compensation, FINRA offers immediate participation and vesting in a 401(k) plan with company match. You will also be eligible for participation in an additional FINRA-funded retirement contribution, our tuition reimbursement program and many other benefits. If you would like to contribute to our important mission and work collegially in a professional organization that values intelligence, integrity and initiative, consider a career with FINRA. Please note: FINRA's Code of Conduct imposes restrictions on employees' investments and requires financial disclosures that are uniquely related to our role as a securities regulator. As standard practice, employees must also complete FINRA's Employee Confidentiality and Invention Assignment Agreement and comply with the company's policy on nepotism.