Examination Manager – Sales Practice, Member Regulation
The Examination Manager develops and supervises District Office regulatory programs and work products related to the routine and special examinations and other reviews related to finances, policies, procedures, practices, and products offered by FINRA member firms and their associated persons and reviews related to the activities of persons associated with FINRA member firms. This is a senior-level professional position supervising examination and support staff of all levels, defining assigned roles, increasing skills, and working under general guidance.
Essential Job Functions:
Supervises examination staff in the execution of the District Office's examination program including routine and special examinations of member firms' financial, sales, trading, underwriting, supervisory and organizational practices and systems to determine compliance with federal and FINRA rules and regulations. This includes assignment and projection of examinations; approval of examination focus; monitoring the start, progress and completion of examinations; review of the execution of the examination; review of the necessary examination elements with all required schedules and reports; review of the examination report; and recommending appropriate disciplinary action resulting from the examination findings.
Supervises examination staff in the execution of the investigation of customer complaints, member firm terminations of associated persons' employment for regulatory cause, and activities of associated persons to determine compliance with federal and FINRA rules and regulations. This includes assignment and projection of investigations; approval of the scope of investigations; monitoring the progress of investigations; review of the execution of the investigation; review of the investigation reports, documents and schedules; review of the investigation report; and determining appropriate disciplinary action resulting from the investigation findings.
Supervises examination staff in the analysis of assigned member firms' financial condition. This includes reviewing firm records, information available from FINRA systems, and other appropriate material; and taking immediate and appropriate action in response to reported financial conditions.
Supervises examination staff in the ongoing surveillance of member firms' activities to identify issues for examination. This includes reviewing approval in the analysis exceptions noted by internal surveillance systems of member firms, comparing systems data to other internal and external data, and questioning member firm personnel.
Supervises examination staff in the collection and analysis of documentation and business plans to determine applicant satisfaction of standards for FINRA membership, and member firm satisfaction of standards for continuation in membership.
Supervises examination staff and/or participates in formal and informal interviews of member firms personnel, member firm customers, other FINRA staff, and staff of other regulatory agencies to gather data pertinent to examinations, investigations and reviews. Testifies at and participates in hearings. Prepares or supervises the preparation of certain hearing exhibits and materials or examination deposition documents. Researches rules, regulations, guidelines, records, and databases to identify relevant data.
Supervises the development and mentoring of examination and support staff at varying levels of expertise; preparing, executing and monitoring staff training and development plans; assessing performance of staff; preparing and delivering performance evaluations; and participating in recruiting, interviewing, retaining and recommending pay actions for staff.
Helps to establish and maintain desired work environment and culture. Facilitates regular and ongoing discussions with individuals to ensure understanding of how individual achievements, behaviors and actions contribute to Department goals.
Supervises or otherwise participates in special projects or regulatory efforts undertaken by FINRA or the District Office. Participates in acceptance testing and/or task forces providing feedback and guidance to ensure examination and related programs are efficient and effective.
Participates in the development and execution of the District Office preventive compliance programs. Serves as a presenter or panelist for member conferences and training. Attends conferences and conducts interviews related to securities industry rules and regulations.
Coordinates and communicates effectively with other FINRA personnel. Provides member firms, public investors and others with timely, accurate responses to inquiries.
Education/Experience Requirements:
- Bachelor's degree and at least eight (8) years of directly related securities experience required; six (6) years experience with FINRA preferred.
- Major in Finance, Accounting, Business Administration, or related field preferred; advanced degree preferred.
- Advanced knowledge of securities industry rules, regulations and guidelines and significant and equivalent experience in a directly related securities industry position may substitute for bachelor's degree.
- Minimum of 3 accounting courses or demonstrated accounting proficiency along with excellent writing skills is required.
- Competence using a desktop computer with the full suite of office software applications preferred.
Working Conditions:
Work is normally performed in an office environment at FINRA and member firm premises. Intermittent overnight travel is required. Extended hours are frequently required. Work environment includes high productivity expectations and tight deadlines.
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