Director Wealth Financial Operations
Company: First Citizens Bank
Location: Durham
Posted on: May 7, 2024
Job Description:
Overview: This position is responsible for all finance functions
within the Wealth Management department of the Bank. Oversees
functions including First Citizens Investor Services Broker/Dealer
and RIA, First Citizens Asset Management RIA, SVB Wealth, LLC,
Private Wealth Advisory Services, Institutional Advisory Services,
and the Private Client Group. Ensures timely financial regulatory
filings with all regulatory agencies. Manages external audit
relationships with the Bank's public accounting agency, FINRA and
the SEC. Directs accounting, budgeting, and incentive compensation
to ensure the financial accuracy and cost-effectiveness of
department operations.
Responsibilities:
- Financial Oversight - Manages all financial information for the
Investor Services Broker/Dealer, the FCAM RIA and SVB Wealth, LLC
RIA, including the company's income statement and balance sheet.
Prepares, approves, and submits compliant financial regulatory
reports to the Financial Industry Regulatory Authority (FINRA) and
the U.S. Securities and Exchange Commission (SEC). Responds to
inquiries from regulators regarding the filings. Oversees the
annual budget process and external audit.
- Financial Review - Develops and maintains systems that increase
efficiencies, regulatory compliance, and accuracy in financial
processes. Ensures correct receipt of commissions, revenue and
expense accounting, preparation of incentive-based payroll, and
revenue allocations to branches and affiliates.
- Business Strategy - Identifies and recommends strategies for
improving the financial performance of the Wealth Management
division. Provides analytical information to executive management
that allows for crucial business insight. Leads projects that
involve business analysis, strategic planning, and product
pricing.
- Managerial Functions - Establishes and monitors expectations to
achieve company and department goals. Makes appropriate changes to
team policies, procedures, and efficiencies in order to meet
objectives. Manages the performance, training, and evaluation of
assigned staff.
- Vendor Management - Oversees the relationship between Investor
Services and EAI Information Systems, Inc. regarding the software
system and database. Negotiates pricing and assists in
problem-solving. Plans and approves system changes in collaboration
with vendor. Qualifications:
Bachelor's Degree and 10 years of
experience in Brokerage Finance (Broker/Dealer), Registered
Investor Advisors (RIA) OR High School Diploma or GED and 14 years
of experience in Brokerage Finance (Broker/Dealer), Registered
Investor Advisors (RIA)
License or Certification Type:
Finance and Operations Principal Series 27, 7, 63, and 24 Required,
Series 53, 65/66 Preferred
Skill(s): Knowledge of accounting,
securities industry rules and regulations, and computer programming
logic
Keywords: First Citizens Bank, Chapel Hill , Director Wealth Financial Operations, Accounting, Auditing , Durham, North Carolina
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