ABOUT US:

Velocity Clearing began in 2003, providing third-party security locate services. We saw the challenge clients experienced when dealing with multiple companies to reach their goals. We sought to build a streamlined system that integrated all aspects of their trading experience into one full-service firm.

Velocity has since created a robust trading product and service ecosystem including stock locate, securities borrow coverage, clearing infrastructure, competitive financing, in-house trading desk, and full support client services.

SUMMARY:

Velocity Clearing’s Risk team is responsible for monitoring, managing and reporting the risk of its correspondents, direct and prime clients for equity and equity options. It also manages and monitors the risk of the fixed income repo business,  This includes market risk, liquidity risk and credit risk.  As the firm has been growing aggressively, the risk team has been expanding in order to meet the needs of the firm.  The candidate will join a team of 7 other risk analysts and managers and will focus on correspondent risk as well as assist with monitoring the direct clients as required

The Firm’s CAT Supervisor will lead the CAT (Consolidated Audit Trail) reporting processes, ensuring accuracy, timeliness, and regulatory compliance for the Firm. The candidate will be required to oversee and maintain the Firm’s compliance program, including policies, procedures, and supervisory controls related to CAT. In addition, the candidate will be required to conduct surveillance reviews, escalate alerts as needed and communicate relevant updates, risks, and opportunities to senior stakeholders.

DUTIES AND RESPONSIBILITIES:

• Perform daily reviews of the FINRA CAT/CAIS portals and CAT related exception reports

• Conduct monthly and quarterly CAT comparative reviews and lead meetings with the Firm’s Supervision, Compliance and Business departments related to the Firm’s CAT reporting.

• Responsible for the production, validation and submission of non-financial regulatory reports (e.g., Consolidated Audit Trail (CAT).

• Daily escalation and remediation of CAT related errors and prompt corrective actions.

• Collaborates with other business units (Brokerage Operations, Trading, Compliance, IT, and Legal).

• Assist and provides input in the interpretation of new/changing securities rules, regulations, policies or laws; updates processes for compliance with rules and regulations as well as departmental procedures related to CAT.

• Ensuring compliance with regulatory reporting requirements for required reporting including CAT Reporting.

• Assists in the design, planning, and execution of CAT related projects; under direct supervision, may lead the testing efforts of other analysts; communicate any issues to management that require immediate attention in a clear and concise manor; draft recommendations to mitigate risk.

• Plans and executes remediation efforts for any identified issues with minimal guidance/support from Supervisor/Manager; assists the Manager or Senior Analyst in formalizing milestones needed in order to implement corrective action plans for any identified issues.

QUALIFICATIONS:

• SIE, Series 7 and Series 24.

• Relevant Experience: Three to seven years of relevant compliance experience within a hedge fund, broker-dealer, proprietary trading firm, or other financial services firm.

• Industry Experience: In-depth knowledge of FINRA and SEC regulations, including broker-dealer rules, CAT reporting requirements, and regulatory reporting frameworks.

• Technical skills: Strong understanding of electronic trading systems and market structure across multiple asset classes.

• Soft skills: Experience drafting and maintaining compliance policies and supervisory procedures.

• Specific experience: Proven ability to analyze and interpret regulatory rules and apply them to complex trading strategies.

• Specific skills: Excellent written and verbal communication skills, with the ability to present complex topics clearly to stakeholders.