Restricted Stock Manager
About Clear Street:
At Clear Street, we are disrupting the institutional brokerage and clearing market by modernizing archaic industry segments with brand new technology. We’re changing the way institutional investors interact with the markets; offering an alternative to working with big banks. Our cloud-based API technology will empower clients to clear, settle, and finance trading activity while accessing real-time risk and position information. Our platform is built on an incredibly modern tech-stack, by pragmatic engineers focused on building intuitive and frictionless user experiences. Our tech-infused suite of customer experience-oriented prime service offerings will increase our clients’ efficiency and provide real-time insights they’ve never previously experienced.
You will sit at the intersection of the management, risk, compliance, and trade operations teams acting as the guardian of our restricted stock business. You will have daily interaction with the Chief Compliance Officer, CEO, and other senior team members within the firm. This is a high impact role in a company that is building a new business model in the capital markets industry.
- Vet prospective clients who want to trade control/restricted securities with Clear Street.
- Vet particular transactions for resale eligibility and will work with the CCO and AML Compliance Officer to administer and enhance Clear Street’s policies and procedures related to restricted and control securities.
- Regularly communicate with our clients regarding Clear Street’s risk appetite for these transactions, the documentation that we require and our procedures for reviewing and approving these types of transactions.
- Support client segment through the handling of SEC Rule 144 transactions for sales, and remove legend transactions.
- Review and verify transaction documentation; verify accuracy and completeness of the documentation provided and identify any potential inconsistencies or red flags.
- Interface with outside legal counsel regarding complex transactions.
- Review and approve sales pursuant to resales prospectuses as well as registered direct offerings which involves verifying that the prospectus has been deemed effective and identifying any issuer or trading activity red flags.
- Handle cost basis and review tax reporting related to these transactions.
- Bachelor's degree required; Business Degree preferred.
- 7-10 years plus experience in the brokerage business.
- Excellent demonstration of communication, problem solving, and analytical skills.
- Ability to work effectively with sales & trading and legal counsel for the resolution of identified problems while ensuring strict compliance with complex regulatory requirements.
- Series 7.
- Experience Rule 144/45.
- The opportunity to join a small and growing team of good people, where you can make a difference.
- An environment that champions collaboration and prioritizes pragmatic solutions to complex problems.
- Work that is fast paced, intellectually challenging, and most of all, profoundly rewarding.
- Competitive compensation, benefits, and perks.