Director, Prime Brokerage Stock Record

RBC Capital Markets is launching a prime brokerage business for equities, starting in North America. To serve hedge fund and institutional clients, we need an accurate, near real-time view of every position by depot: what we own, what clients own, and what has been lent, borrowed or pledged, projected to settle etc. As Director, you will lead the building of this intraday stock record, extending our Broadridge-based books and records platforms.

Responsibilities

• Lead the design and delivery of an intraday stock record that keeps client and firm positions accurate and separate throughout the trading day
• Direct how our Broadridge books and records platforms are extended or reconfigured to support prime brokerage, from trade capture through settlement
• Establish how position data flows between trading, financing, securities lending, settlement and risk systems, and between us and our custodians and depositories
• Shape the approach to custody and depository accounts, including the operational impact of keeping prime separate from the rest of the firm
• Build the controls that catch breaks and exceptions early, so problems are fixed before they reach clients or cause failed settlements
• Partner with Operations, Finance, Risk and Corporate Actions to agree on ownership, deadlines and service levels
• Manage the program plan, budget, vendor relationships and delivery milestones, and lead and coach a team of engineers, architects and delivery managers

Requirements

• Significant experience leading books and records, stock record or position-keeping technology at a broker, bank or custodian
• Hands-on knowledge of post-trade platforms, or comparable securities processing systems, in a large firm
• Track record of delivering large, multi-year technology programs from design through launch
• Strong understanding of how trades, settlement, custody and securities lending affect a firm's positions
• Degree in engineering, computer science, finance or a related field

Nice-to-have

• Experience in prime brokerage, including short, loaned, financed and swap positions
• Experience building or running real-time or near-real-time position and settlement processing
• Familiarity with North American settlement and depository processes, and the move to faster settlement cycles
• MBA or other graduate degree

Benefits

• Competitive salary: $210,000 - $275,000 depending on factors including but not limited to the candidate's experience, skills, registration status; market conditions; and business needs
• Discretionary bonus
• 401(k) program with company-matching contributions
• Health, dental, vision, life and disability insurance
• Paid time-off plan