An Alternative Net Capital (ANC) Associate Principal Specialist conducts examinations to assess member firms’ risk management frameworks and evaluate systems, procedures and internal controls established to effectively manage market, credit and liquidity risks. The role includes in-depth review, analysis, and testing of the of firms’ books and records and internal control processes to determine that market, credit and liquidity risk exposures are within risk appetite and accordingly capitalized in compliance with SEA Rule 15c3-1(Appendix E), and other applicable rules and regulatory requirements. The review process includes holding meetings with firm personnel in areas such as Risk Management (Market, Credit and Liquidity), Product Controllers, Treasury, Operations, Trading, Legal & Compliance, Internal Audit and Regulatory Reporting. Upon review of the firm’s processes and controls, the assessment and findings are documented and presented to management and/or other relevant internal groups.
Essential Job Functions:
- Intermediate ability to assess member firm’s compliance with the SEA Rule 15c3-1(Appendix E) and other applicable rules and regulatory requirements
- Intermediate ability to assess compliance of firm’s market, credit and liquidity risk management frameworks with the aforementioned rules
- Intermediate ability to evaluate systems and procedures for the establishment and implementation of comprehensive internal controls to effectively manage risk.
- Intermediate ability to review, analyze, and test member firm systems (front, middle, and back office) used to capture, aggregate and measure market, credit and liquidity exposures, limits and associated risks.
- Leads examinations of low, medium-low, and medium-high risk and complexity with moderate supervision.
- Conducts and memorializes discovery and risk reviews of low to medium-high risk and complexity. Participates in reviews of high risk and complexity under general supervision.
- Conducts consultation tasks of basic to moderate complexity under general supervision
- Conducts tasks related to consultations that may include, but is not limited to inquiries received from Risk Monitoring, Examinations, and Enforcement staff
- Conducts tasks related to member firm/investor education that may include, but is not limited to assisting in the development of training as part of seminars, boot camps, and district compliance events.
- Conducts tasks related to staff training that may include, but is not limited to district office training events, podcasts, LMS specific training.
- Conducts examination tasks that may include, but is not limited to: (1) reviews conducted in collaboration with Member Supervision examination staff (2) reviews conducted on matters originated by specialist unit (3) reviews conducted in relation to internal/external tips (4) reviews conducted related to referrals
