Margin Operations, Assistant Vice President (Wealth Custody and Clearing)

Who we are looking for

Wealth Custody & Clearing is seeking an Assistant Vice President for its Trading & Asset Servicing team, with primary responsibility for helping build, implement, operate, and continuously enhance our margin operations capability. The role will translate an established margin framework into scalable procedures, controls, reporting, escalation protocols, and day-to-day practices across our introducing broker-dealer platform.

This is a builder-operator role. The successful candidate will own key daily margin activities while helping shape how the capability evolves as client adoption, product scope, technology, and risk-management needs develop over time. Working closely with the Vice President of Trading & Asset Servicing and the Head of Operations, this individual will help define the future vision for margin operations and execute the roadmap required to achieve it.

The ideal candidate combines strong working knowledge of Regulation T and brokerage margin principles with hands-on experience managing time-sensitive margin calls, maintenance deficiencies, account restrictions, extensions, concentrated positions, liquidations, exceptions, and risk-based escalation. Familiarity with Regulation SHO and short-selling operations is important. Knowledge of Portfolio Margin and risk-based margin methodologies is strongly preferred and will support the long-term ambitions of the platform.

The Assistant Vice President will partner extensively across State Street, including Risk, Compliance, Product, Technology, Client Support, Account Onboarding, and other control and operational teams, as well as with our clearing firm. The role will help support the delivery of account and position data to Risk, interpret stress-testing and exposure outputs received from Risk, and apply relevant standards and analysis to operational oversight, escalation, and risk posture. Additional responsibilities will include broader brokerage operations across trading, corporate actions, and the trade lifecycle.

Why this role is important to us

As Wealth Custody & Clearing scales, successful implementation and evolution of the margin lending program will be critical to delivering a controlled and effective brokerage experience for clients and advisors. While the foundational framework has been established, the operating model must continue to mature as activity grows, capabilities expand, and processes and technology evolve.

This role is central to that progression. The Assistant Vice President will help design and implement the operating capability while performing its core daily controls and activities. The position strengthens the first line of defense by connecting account-level margin oversight, clearing-firm activity, State Street risk analysis, and timely operational action.

This role is critical to ensuring:

• Margin activity is monitored and managed accurately, with timely resolution of calls, deficiencies, exceptions, extensions, restrictions, and liquidation-related activity.

• Emerging risk is identified and escalated appropriately, including significant exposures, concentrated positions, repeated violations, and accounts approaching or entering negative equity.

• Stress-testing results and other Risk outputs are understood and incorporated into operational oversight, escalation, and risk-management actions.

• The margin operating model remains scalable, well controlled, appropriately documented, and aligned with the longer-term product and technology roadmap.

What you will be responsible for

• Capability design and implementation: Help design, implement, and continuously enhance the margin operating model, translating regulatory, risk, contractual, and business requirements into practical procedures, controls, workflows, reporting, escalation paths, and management routines.

• Day-to-day margin operations: Own and execute key operational activities supporting the margin lending program, including account eligibility, documentation, margin calls, maintenance deficiencies, extensions, restrictions, exceptions, and ongoing account activity.

• Daily monitoring and control execution: Review margin reports and account-level activity, including calls, debit balances, maintenance excess or deficiency, buying power, concentrated positions, restrictions, repeated violations, and accounts presenting elevated or emerging exposure.

• Regulatory and policy application: Apply working knowledge of Regulation T, FINRA Rule 4210, applicable SEC requirements, firm policies, and clearing-firm requirements when evaluating margin activity, restrictions, exceptions, and escalations.

• Margin-call and exception resolution: Coordinate timely resolution of calls, deficiencies, extensions, restrictions, and other exceptions with clients, advisors, Apex, Client Support, Risk, and other internal stakeholders.

• Concentration and house-requirement oversight: Monitor concentrated and higher-risk positions and support the administration, escalation, and implementation of house margin requirements or other risk-based restrictions, as applicable.

• Negative-equity and liquidation response: Identify and escalate accounts approaching or entering negative equity and coordinate the operational response, including restrictions, liquidation activity, client or advisor outreach, recovery actions, documentation, and management escalation.

• State Street Risk coordination: Support the delivery and validation of account, position, collateral, and related data used for stress testing and exposure analysis. Review relevant Risk outputs and incorporate established standards and findings into account-level oversight, escalation, and operational action.

• Clearing-firm coordination: Serve as a key operational liaison with Apex for margin calls, restrictions, liquidations, exceptions, reporting, reconciliations, and resolution of account-level issues, with clear ownership and follow-through across organizational boundaries.

• Controls, reporting, and evidence: Maintain margin-related controls, reconciliations, recordkeeping, exception documentation, management information, and evidence required for supervisory review, audit, risk oversight, and regulatory examination.

• Key risk indicators and risk reporting: Design, establish, and maintain relevant margin-related key risk indicators, thresholds, and escalation triggers to support regulatory compliance, management oversight, and proactive identification of emerging credit, market, operational, and client risk.

• Future-state strategy and execution: Work closely with the Vice President of Asset Servicing and Head of Operations to shape and execute the longer-term vision for the team, including staffing, operating processes, controls, technology, automation, data, and future product capabilities.

• Brokerage operations: Support broader brokerage activity, including trading, corporate actions, trade lifecycle processes, short-selling-related workflows, and other time-sensitive work, while contributing to scalable automation, AI-enabled workflows, and integrated platform capabilities.

What we value

• Strong hands-on experience in margin, broker-dealer, clearing, or custody operations, with practical knowledge of brokerage account activity and margin risk.

• Demonstrated ability to build or materially improve an operating capability, including converting requirements into procedures, controls, reporting, workflows, and escalation standards.

• Strong understanding of Regulation T, FINRA Rule 4210, initial and maintenance margin concepts, buying power, house requirements, concentrated positions, margin calls, restrictions, and liquidation mechanics.

• Working knowledge of Regulation SHO and short-selling requirements, including experience supporting related controls, exceptions, operational processes, and escalation.

• Knowledge of Portfolio Margin frameworks and risk-based margin methodologies strongly preferred; direct operational experience supporting Portfolio Margin is a significant plus.

• Experience interpreting account-level exposure information, stress-testing results, concentration analysis, or other risk outputs and translating them into appropriate operational action and escalation.

• Familiarity with introducing broker-dealer models and clearing-firm relationships; Apex experience preferred.

• Sound judgment in time-sensitive and risk-sensitive situations, with the ability to distinguish routine activity from developing credit, market, operational, or client risk.

• Ability to lead through influence and coordinate effectively across Operations, Risk, Compliance, Product, Technology, Client Support, Account Onboarding, advisors, clients, and external providers.

• Working knowledge of broader brokerage operations, including trading, corporate actions, trade lifecycle processes, and multi-asset-class activity.

• Comfort operating in a growth environment where the framework exists but processes, controls, technology, and team capabilities will continue to evolve.

• Experience with operational reporting, reconciliations, control evidence, internal and external audit requests, and regulatory review requirements.

• Experience with clearing, workflow, and servicing platforms; Apex Ascend and Salesforce experience preferred.

Education & Preferred Qualifications

• Undergraduate degree or equivalent relevant experience.

• 5+ years of relevant experience in margin, broker-dealer, clearing, custody, trading, or financial-services operations; candidates with highly relevant hands-on margin experience may be considered with a different overall experience profile.

• Demonstrated experience administering or overseeing margin calls, account restrictions, extensions, concentrations, liquidations, or related operational controls.

• Series 7 and Series 57 preferred or willingness to obtain, based on final responsibilities.

• Series 4, Series 24, and/or Series 53 are a plus.

• Experience in an introducing broker-dealer, RIA custody, or fully disclosed clearing model strongly preferred.

• Portfolio Margin experience, including operational implementation or ongoing oversight, is a significant plus.

• Experience with Apex Ascend, comparable clearing or margin platforms, Salesforce, and data-driven risk or reporting tools is preferred.

Salary Range:

The range quoted above applies to the role in the location specified. If the candidate would ultimately work outside of the location above, the applicable range could differ.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

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