Broker Dealer CFO & FINOP

Excited To Grow Your Career?

BBVA is a global company with more than 160 years of history that operates in more than 25 countries where we serve more than 80 million customers. We are more than 121,000 professionals working in multidisciplinary teams with profiles as diverse as financiers, legal experts, data scientists, developers, engineers and designers.

About The Job:

Finance professional in Banking/Capital Markets with 15+ years’ experience managing large and diverse teams. Have a deep knowledge of US GAAP and IFRS and responsible for communication with US supervisors such as FINRA, the SEC and the FRB.

Seeking a highly motivated, detail-oriented individual with leadership skills to work as the Chief Financial Officer and FINOP of a U.S. broker-dealer subsidiary of a global financial services group based out of Europe.

Job Description:

Accounting Responsibilities:

• Oversee all day to day accounting responsibilities
• Monitor daily activities, including firm funding, firm pricing, cash flow, daily P&L, accounts payable/receivable and back office reporting
• Serve as the primary contact for the annual audit of the BD financial statements
• Manage system reconciliations and month-end closing process
• Prepare monthly finance presentation to Senior Management and quarterly presentation to the Board of Directors
• Supervise daily journal entries
• Analyze monthly variances in balance sheet and income statement activity
• Track and analyze revenue and operating expenses by lines of business
• Interact with all departments for any technical issues and new regulatory requirements that may have an impact for the NY entities (new accounting pronouncements under US GAAP and IFRS).
• Perform analysis for new transaction reviews from the business from an accounting standpoint.
• Review fee sharing agreements and ensure each legal entity is getting their appropriate split of fees in accordance with accounting requirements.
• Prepare monthly and year-end tax accounting and be the point person together with the Tax manager for the conversations with tax advisors, auditors, etc.

Regulatory Responsibilities:

• Be responsible for the monthly and annual FINRA FOCUS Reports including the form X-17A-5 Part II, Supplemental Statement of Income (SSOI), Form Custody for Broker Dealers, Supplemental Liquidity Schedule (SLS), Off Balance Sheet Report (OBS) and SEC 17H reports
• Ensure compliance with the SEC’s Uniform Net Capital Rule 15c3-1 (including daily net capital computations) and Customer Protection Rule 15c3-3 (weekly) for a self-clearing broker dealer
• Prepare TIC S, TIC BC, & TIC BL monthly reporting to the Federal Reserve
• Manage monthly consolidation to BD’s foreign parent
• Manage audits with regulators and internal/external auditors

Alco Responsibilities

• Conduct responsibilities as Secretary of the Asset-Liability Committee which involves: 1) Review monthly package to be presented to ALCO, 2) understand changes in funding composition and relationship between assets & liabilities and 3) lead monthly ALCO meetings and coordinate important matters to be discussed with Short Term Desk, Customer Funding Desk, Risk and Finance teams in Head Office and the US.
• Review of budget/forecasts with Risk and any impact to structural funding needed.
• Oversight over usage of lines of credit with Head Office and funding costs associated with borrowing.
• Ensure annual review of liquidity agreements with affiliates in the US and Head Office.

Qualifications

• Accounting background in US broker-dealer
• FINRA Series 27 Financial Operations Principal (FINOP) License
• 15 + years’ experience
• Bachelors or Masters in Accounting
• CPA is a plus
• Knowledge of U.S. GAAP and SEA rules surrounding Broker-Dealers
• Professional experience and knowledge of both financials and operations of self-clearing broker dealer with a foreign parent and foreign affiliates and focus on institutional business
• Experience in using Broadridge Impact system
• Experience in using Workday Enterprise Management
• Proficient in Microsoft Office

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

With respect to this position in our New York Office, the expected base salary ranges from $250,000 to $300,000. It is not typical for offers to be made at or near the top of the range. Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, certifications obtained. Market and organizational factors are also considered. In addition to salary and a generous employee benefits package, successful candidates are eligible to receive a discretionary bonus.

*Employment eligibility to work with BBVA in the U.S. is required as the company will not pursue visa sponsorship for these positions

Legal Requirements

It is not typical for offers to be made at or near the top of the range. Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, certifications obtained. Market and organizational factors are also considered. In addition to salary and a generous employee benefits package, successful candidates are eligible to receive a discretionary bonus.

Pay Transparency Policy Statement

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information (41 C.F.R. 60-1.35 (c)).

Individuals With Disabilities

BBVA USA, BBVA Securities Inc., and BBVA S.A. New York Branch invite all interested and qualified applicants to apply for employment opportunities. If you are a U.S.-based job seeker with a disability who is unable to use our online tools to search and apply for jobs, please contact us by emailing: disabilityaccessjobs.us@bbva.com or by calling toll-free (in the U.S.) 1-844-664-9275. Please indicate the specific type of assistance needed*.

*The disability access telephone line and email address are reserved solely for job seekers with disabilities requesting accessibility assistance or an accommodation. Please do not call about the status of your job application if you do not require accessibility assistance or an accommodation. Messages left for other purposes, such as following up on an application or non-disability related or technical issues, will not receive a response.

Eeo Statement

BBVA USA, BBVA Securities Inc., and BBVA S.A. New York Branch have a firm and unwavering policy to provide equal employment opportunity without regard to age, citizenship, color, disability, ethnic origin, gender, gender identity and expression, marital status, nationality, national origin, race, religion, sexual orientation, genetic predisposition, protected veteran status, or any other status or classification protected by federal, state or local law. This policy includes all job groups, classifications and organizational units. With regard to employment, this policy extends to applicants and covers our recruiting, hiring, promotion, transfer, demotion, discipline, termination, benefits, compensation and training practices as well as social and recreational activities.

View the "EEO is the Law" & "View the EEO is the Law Supplement Poster" poster. BBVA USA, BBVA Securities, Inc., and BBVA NY are equal opportunity and affirmative action employer.