Vaco by Highspring
AVP - Cash Reconciliation
Vaco by Highspring, Charlotte, North Carolina, United States, 28245
AVP - Cash Reconciliation
Join Vaco by Highspring in the role of Assistant Vice President (AVP), Cash Reconciliation. This senior leadership position within Finance & Operations is accountable for daily cash and asset reconciliation and ensuring compliance with SEC Rule 15c3-3 (Customer Protection Rule).
Base Pay Range $145,000.00/yr - $145,000.00/yr
Company Overview Our client is a well-established Fortune 500 technology-enabled financial services organization experiencing ongoing growth and transformation. The company fosters a collaborative and dynamic culture with strong leadership and opportunities to impact enterprise-level accounting operations.
Role Overview The AVP leads complex reconciliation and reserve activities, oversees daily Customer Reserve Calculations, strengthens governance and internal controls, and partners closely with Treasury, Accounting, Compliance, Risk, and Technology. The role requires deep technical expertise, regulatory acumen, and proven people leadership in a high-volume broker‑dealer environment.
Key Responsibilities
Direct end‑to‑end daily reconciliation of cash, clearing, suspense accounts, and asset positions across custodians and trading platforms
Review, investigate, and resolve breaks, exceptions, and aged items in line with internal policies and FINRA/SEC requirements
Oversee interest activity, corporate actions, and other cash‑related movements
Daily Customer Reserve Calculation (SEC Rule 15c3‑3)
Oversee preparation, review, and validation of daily Customer Reserve Formula calculation for regulatory compliance
Validate segregation requirements, debit/credit calculations, and proprietary balance treatments
Partner with Treasury, Accounting, and Regulatory Reporting to ensure timely funding and release of Reserve Bank Accounts
Ensure robust documentation, approvals, controls, and audit support for reserve processes
Identify, escrow, and remediate discrepancies, system issues, or calculation variances
Accounting & Month‑End Close
Review and approve journal entries, including cash reclassifications and interest accruals (daily/monthly)
Perform monthly account certifications and balance sheet reconciliations
Provide monthly and quarterly balance sheet and income statement variance analysis
Support internal and external audit engagements
Governance, Controls & Compliance
Maintain and enhance internal controls supporting cash, asset, and reserve operations
Partner with Internal Audit, Compliance, and Risk during audits, examinations, and regulatory inquiries
Ensure ongoing adherence to SEC, FINRA, and internal policy requirements
Lead, mentor, and develop a team of reconciliation analysts and senior specialists
Allocate resources to meet critical daily processing and regulatory deadlines
Promote a culture of accuracy, accountability, risk awareness, and continuous improvement
Systems & Process Optimization
Drive automation and operational efficiencies across reconciliation and reserve workflows
Lead UAT efforts, system enhancements, data validation initiatives, and performance improvements
Collaborate with Technology to perform root‑cause analysis and resolve system‑related issues
Reporting & Stakeholder Engagement
Deliver daily, weekly, and monthly reconciliation and reserve reporting to senior leadership
Escalate material reconciliation issues or reserve variances that pose financial or regulatory risk
Support regulatory filings and financial reporting requirements
Desired Background
Bachelor’s or Master’s degree in Finance, Accounting, Business, or a related discipline
8+ years of experience in finance, accounting, cash reconciliation, broker‑dealer operations, or financial controls
Series 99 license (or ability to obtain within 120 days of hire)
Expertise in SEC Rule 15c3‑3 and broker‑dealer regulatory requirements
Demonstrated experience leading teams or managing senior‑level analysts
Advanced Excel proficiency and experience with reconciliation platforms
Experience with Oracle, BETA, Kyriba, or similar broker‑dealer systems preferred
Prior ownership of Customer Reserve Calculations a plus
CPA or other relevant professional certifications a plus
Proven experience driving automation, process improvements, and operational scalability
Determining compensation for this role depends upon a wide array of factors including but not limited to the individual's skill sets, experience and training, licensure and certifications, office location and other geographic considerations, as well as other business and organizational needs. The individual may also be eligible for discretionary bonuses, and can participate in medical, dental, and vision benefits as well as the company's 401(k) retirement plan. The position is currently open. Submissions to this position are subject to the use of AI to perform preliminary candidate screenings, focused on ensuring minimum job requirements noted in the position are satisfied. Vaco/Highspring does not have knowledge of the tools used by its clients in making final hiring decisions and cannot opine on their use of AI products.
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Base Pay Range $145,000.00/yr - $145,000.00/yr
Company Overview Our client is a well-established Fortune 500 technology-enabled financial services organization experiencing ongoing growth and transformation. The company fosters a collaborative and dynamic culture with strong leadership and opportunities to impact enterprise-level accounting operations.
Role Overview The AVP leads complex reconciliation and reserve activities, oversees daily Customer Reserve Calculations, strengthens governance and internal controls, and partners closely with Treasury, Accounting, Compliance, Risk, and Technology. The role requires deep technical expertise, regulatory acumen, and proven people leadership in a high-volume broker‑dealer environment.
Key Responsibilities
Direct end‑to‑end daily reconciliation of cash, clearing, suspense accounts, and asset positions across custodians and trading platforms
Review, investigate, and resolve breaks, exceptions, and aged items in line with internal policies and FINRA/SEC requirements
Oversee interest activity, corporate actions, and other cash‑related movements
Daily Customer Reserve Calculation (SEC Rule 15c3‑3)
Oversee preparation, review, and validation of daily Customer Reserve Formula calculation for regulatory compliance
Validate segregation requirements, debit/credit calculations, and proprietary balance treatments
Partner with Treasury, Accounting, and Regulatory Reporting to ensure timely funding and release of Reserve Bank Accounts
Ensure robust documentation, approvals, controls, and audit support for reserve processes
Identify, escrow, and remediate discrepancies, system issues, or calculation variances
Accounting & Month‑End Close
Review and approve journal entries, including cash reclassifications and interest accruals (daily/monthly)
Perform monthly account certifications and balance sheet reconciliations
Provide monthly and quarterly balance sheet and income statement variance analysis
Support internal and external audit engagements
Governance, Controls & Compliance
Maintain and enhance internal controls supporting cash, asset, and reserve operations
Partner with Internal Audit, Compliance, and Risk during audits, examinations, and regulatory inquiries
Ensure ongoing adherence to SEC, FINRA, and internal policy requirements
Lead, mentor, and develop a team of reconciliation analysts and senior specialists
Allocate resources to meet critical daily processing and regulatory deadlines
Promote a culture of accuracy, accountability, risk awareness, and continuous improvement
Systems & Process Optimization
Drive automation and operational efficiencies across reconciliation and reserve workflows
Lead UAT efforts, system enhancements, data validation initiatives, and performance improvements
Collaborate with Technology to perform root‑cause analysis and resolve system‑related issues
Reporting & Stakeholder Engagement
Deliver daily, weekly, and monthly reconciliation and reserve reporting to senior leadership
Escalate material reconciliation issues or reserve variances that pose financial or regulatory risk
Support regulatory filings and financial reporting requirements
Desired Background
Bachelor’s or Master’s degree in Finance, Accounting, Business, or a related discipline
8+ years of experience in finance, accounting, cash reconciliation, broker‑dealer operations, or financial controls
Series 99 license (or ability to obtain within 120 days of hire)
Expertise in SEC Rule 15c3‑3 and broker‑dealer regulatory requirements
Demonstrated experience leading teams or managing senior‑level analysts
Advanced Excel proficiency and experience with reconciliation platforms
Experience with Oracle, BETA, Kyriba, or similar broker‑dealer systems preferred
Prior ownership of Customer Reserve Calculations a plus
CPA or other relevant professional certifications a plus
Proven experience driving automation, process improvements, and operational scalability
Determining compensation for this role depends upon a wide array of factors including but not limited to the individual's skill sets, experience and training, licensure and certifications, office location and other geographic considerations, as well as other business and organizational needs. The individual may also be eligible for discretionary bonuses, and can participate in medical, dental, and vision benefits as well as the company's 401(k) retirement plan. The position is currently open. Submissions to this position are subject to the use of AI to perform preliminary candidate screenings, focused on ensuring minimum job requirements noted in the position are satisfied. Vaco/Highspring does not have knowledge of the tools used by its clients in making final hiring decisions and cannot opine on their use of AI products.
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