Principal Examiner - Subordinated Loan

Financial Industry Regulatory Authority, Inc. Denver , CO 80208

Posted 2 months ago

Review and analyze all subordinated loan agreements and related documents submitted by the Membership to make recommendations for approval or denial of each loan. This review includes new loans, amendments, assignments and assumptions, conversions, and prepayments. Work closely with internal staff, and executives and counsel for member firms on the review and approval of documents related to subordinated loan requests with limited guidance and minimal supervision.

Essential Job Functions:

  • Conduct the review of high complexity subordinated loan and secured demand note requests under limited guidance and minimal supervision, in accordance with current policies and procedures.

  • Complete each review within the departments guidelines (10 days for standard loans and 30 days for non-standard).

  • Review all necessary supporting documentation related to each loan (i.e. proof of funding, lender's attestations, and the firm's net capital computation) and make recommendation to management for approval or denial of loan.

  • Analysis of internal systems, i.e. CRD, FOCUS, Profiles, to verify direct and indirect ownership of firm, financial impact of proposed subordinated loan, current and historical net capital deficiencies, and review of firm's membership agreement for approved business activities.

  • Review loans that are not on FINRA's standard forms to ensure that the language in the loan agreement conforms to Appendix D of the Net Capital Rule, SEC Rule 15c3-1.

  • Analyze addendums, riders and side agreements for conflicts with Appendix D of the Net Capital Rule

  • Control of and conduct the independent review of subordinated loans of members of other Exchanges, through Regulatory Services Agreement ("RSA") i.e. CBOE, NYSE and PHLX, adhering to additional rules

  • Perform FOCUS Reconciliation analysis for assigned member firms and resolve differences found between the firm's FOCUS filings and the subordinated loan database.

  • Manage preparation and delivery of the monthly subordinated loan SEC Report, including accompanying documents, i.e. FOIA/cover letter.

  • Answer all questions from the staff and/or membership concerning subordinated loan documentation and procedures, providing member firms accurate and timely responses to inquiries. Leads conference calls with member firms in subordinated loan discussions providing expert guidance.

  • Advise Manager of any significant issue or complex event as they arise during the course of a loan review.

  • Continue to develop an advanced level of knowledge of relevant rules, regulations, guidelines, and industry practices.

  • Leads special projects as assigned.

  • Develops and provides training to staff, as needed, and administers the development of less experienced examiners.

  • Exhibit high productivity levels frequently under tight deadlines.

  • Serve as Regulatory Expert, internally and externally and provide guidance to FINRA staff

Education/Experience Requirements:

  • Minimum of 6 years of securities, compliance, or financial regulatory experience.

  • Knowledge of the Net Capital Rule preferred.

  • Bachelor's degree preferred.

  • Demonstrated ability to deal with senior level management and outside counsel.

  • Strong verbal and written communication skills.

  • Strong analytical and problem solving skills.

  • Ability to prioritize projects efficiently.

  • Detail oriented and self-motivated.

  • Computer literacy in Windows and related applications.

Work Conditions:

  • Work is performed in an office environment.

  • Extended hours may be required.

  • Work environment includes high productivity expectations and tight deadlines.

To be considered for this position, please submit a cover letter and resume. A writing sample may be required as part of the submission.

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.

Important Information

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. FINRA employees are required to disclose to FINRA all brokerage accounts that they maintain, and those in which they control trading or have a financial interest (including any trust account of which they are a trustee or beneficiary and all accounts of a spouse, domestic partner or minor child who lives with the employee) and to authorize their broker-dealers to provide FINRA with duplicate statements for all of those accounts. All of those accounts are subject to the Code's investment and securities account restrictions, and new employees must comply with those investment restrictions-including disposing of any security issued by a company on FINRA's Prohibited Company List or obtaining a written waiver from their Executive Vice President-by the date they begin employment with FINRA. Employees may only maintain securities accounts that must be disclosed to FINRA at one or more securities firms that provide an electronic feed (e-feed) of data to FINRA, and must move securities accounts from other securities firms to a firm that provides an e-feed within three months of beginning employment.

You can read more about these restrictions here.

As standard practice, employees must also execute FINRA's Employee Confidentiality and Invention Assignment Agreement without qualification or modification and comply with the company's policy on nepotism.

Search Firm Representatives

Please be advised that FINRA is not seeking assistance or accepting unsolicited resumes from search firms for this employment opportunity. Regardless of past practice, a valid written agreement and task order must be in place before any resumes are submitted to FINRA. All resumes submitted by search firms to any employee at FINRA without a valid written agreement and task order in place will be deemed the sole property of FINRA and no fee will be paid in the event that person is hired by FINRA.

FINRA is an Equal Opportunity and Affirmative Action Employer

All qualified applicants will receive consideration for employment without regard to age, citizenship status, color, disability, marital status, national origin, race, religion, sex, sexual orientation, gender identity, veteran status or any other classification protected by federal state or local laws as appropriate, or upon the protected status of the person's relatives, friends or associates.

FINRA abides by the requirements of 41 CFR 60-741.5(a). This regulation prohibits discrimination against qualified individuals on the basis of disability, and requires affirmative action by covered prime contractors and subcontractors to employ and advance in employment qualified individuals with disabilities.

FINRA abides by the requirements of 41 CFR 60-300.5(a). This regulation prohibits discrimination against qualified protected veterans, and requires affirmative action by covered prime contractors and subcontractors to employ and advance in employment qualified protected veterans.

2019 FINRA. All rights reserved. FINRA is a registered trademark of the Financial Industry Regulatory Authority, Inc.


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Principal Examiner - Subordinated Loan

Financial Industry Regulatory Authority, Inc.