Brokerage Operations Lead, Cash App

  • Portland, OR, USA
  • Full-time
  • Alternate Location: Salt Lake City, United States

Company Description

Cash App is the fastest growing financial brand in the world. Initially built to take the pain out of peer-to-peer payments, Cash App has gone from a simple product with a single purpose to a dynamic app with over 24 million monthly active users. We are bringing a better way to send, spend, invest, and save to anyone who has ever sought an alternative to the traditional banking system.

Loved by customers and pop culture, we’ve consistently held the top spot for finance in the App Store for many years, seeing more engagement with millions of followers across social media in a day than most brands see in a year. We are building an ecosystem to redefine the world’s relationship with money by making it universally accessible.

We want to hire the best talent regardless of location. Our employment model is distributed, offering the opportunity to collaborate with teams across the world in San Francisco, New York, St. Louis, Portland, Toronto, Kitchener-Waterloo, Sydney, and Melbourne.

Interested in learning more?

Job Description

The Cash App Operations team is responsible for building and managing a scalable operating environment for a fast growing mobile payment app with multiple, external partners and internal, cross-functional stakeholders.  You will be the brokerage operations manager responsible for the critical functions of the broker-dealer for Cash App Investing LLC, identifying and remediating operational issues, influencing product development for brokerage tooling systems, and ensuring compliance with all applicable laws and regulations. This role reports into the Chief Operating Officer of the broker-dealer.

You will be responsible for:

  • Managing all introducing brokerage operations functions for Cash App Investing LLC

  • Managing front office and back office brokerage operations functions including New Accounts, Customer Onboarding, Market Operations, Reconciliations, Trading / Corrections

  • Work closely with the FINOP of the broker-dealer 

  • Create a collaborative working relationship with our clearing, engineering, and product teams to launch, improve, and scale Cash App Investing products, tools, and systems

  • Maintaining supervisory authority over introducing brokerage operations functions and ensuring up-to-date desktop procedures and written supervisory procedures 

  • Monitor and review daily exception reports, and evaluate findings using internal procedures

  • Supervise the on-going execution of the front office function including handling customer inquiries, maintaining compliance, monitoring and driving team and individual performance, record-keeping and scaling/developing the function.

  • Supervise the on-going execution of the back office function including day to day administrative, operational and vendor relationships, managing customer brokerage accounts, trades and transactions to achieve business goals while meeting regulatory requirements.

  • Review outgoing account transfers and close open positions or request transfer extensions

  • Oversee the accurate processing of corporate actions, resolve trade errors, identify suspense positions, etc

  • Provide oversight of our operational playbook with related policies and procedures 

  • Create and execute strategies to increase productivity and efficiency

  • Interface with carrying/clearing firm to review trade reports, quarterly trade activity, and approve new accounts

  • Manage special projects as needed including assisting with examinations and inquiries for the SEC and/or FINRA

Qualifications

You Have:

  • Licenses: Series 7, 66 (or 63) and 24 

  • 5-8 years of brokerage operations experience, including 3 years in a management role

  • Expert-level knowledge of front and back office brokerage operations

  • Experience managing and training a front and back office operations team

  • Ability to quickly learn proprietary web-based front and back office applications

  • Appreciation for compliance and adherence to government and industry regulations

  • Prior success implementing and updating Written Supervisory Procedures

  • Excellent verbal and written communication skills

  • Ability to travel (limited) as needed

Nice to Have:

  • Series 4

  • Experience working at a fast growth FinTech

  • Experience working with Carrying or Clearing Broker-Dealer

  • Extensive SEC/FINRA regulatory and compliance knowledge

  • Excellent research skills including experience with online search tools

  • Bachelor’s in Finance, Economics, or similar area

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Additional Information

Cash App treats all employees and job applicants equally. Every decision is based on merit, qualifications, and talent. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

We will consider for employment qualified applicants with criminal histories in a manner consistent with each office’s corresponding local guidelines.