VP of Operations, Omnibus & Money Movement

Job Description

About Monark Markets

Monark Markets is building the infrastructure that brings private markets to the platforms investors and advisors already use.

MMM Securities LLC, a FINRA and SIPC member broker-dealer, is a wholly owned subsidiary of Monark Markets, Inc. We are building an omnibus carrying platform for evergreen alternative investment funds. It gives custodians and wealth platforms one standardized point of access to products that have always required manual, fund-by-fund processing.

The role

This is a founding senior operations hire. You will own the movement of cash and positions across the platform, from the moment a custodian submits an order to the moment proceeds land back in its sub-accounts.

You will report directly to the CEO, and you will build and lead the operations team as volume scales.

What you'll do

Money movement and settlement

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• Own the full cash lifecycle for subscriptions, redemptions, tender and repurchase offers, distributions, and reinvestments, from order intake through funding, settlement, and allocation
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• Initiate, receive, and reconcile wires and settlements among custodian customers, the firm's clearing bank, and fund transfer agents, under dual-control and callback procedures
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• Reconcile daily cash positioning across operating, omnibus, and Special Reserve Bank Accounts so customer funds are properly segregated and available when due
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• Coordinate order flow and settlement with fund transfer agents and administrators, and resolve failed, late, or partial settlements
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• Track funding deadlines, settlement cycles, and tender windows across every fund the firm holds
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Omnibus positions and sub-accounting

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• Maintain the firm's omnibus position at each fund and the sub-account records for every custodian customer
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• Run a daily three-way reconciliation: omnibus positions against transfer agent records, sub-account totals against omnibus holdings, and cash against bank activity. Clear breaks the same day wherever possible
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• Allocate distributions, reinvestments, and repurchase proceeds across sub-accounts, including proration when tender offers are oversubscribed
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• Manage NAV intake, valuation updates, and corporate actions, and deliver accurate position, transaction, and valuation data to custodian customers
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• Support year-end tax reporting data flows for held funds
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Customer protection and financial controls

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• Prepare inputs for and support the weekly Rule 15c3-3 reserve computation, and fund and reconcile Special Reserve Bank Account deposits and withdrawals
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• Maintain possession and control of customer positions, monitor for deficits, and resolve them within required timeframes
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• Work with the firm's FinOp and POO on net capital, FOCUS reporting, and month-end close, owning the accuracy of cash and position data
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• Monitor money movement for potential AML red flags and escalate exceptions, unusual activity, and control failures to the appropriate principal
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Books, records, and counterparties

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• Serve as the daily operational contact on cash and position matters for custodian customers, transfer agents, fund sponsors, and our clearing bank
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• Onboard new funds and custodian relationships, including settlement instructions, funding tests, and cutover
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• Execute procedures as documented in the firm's WSPs, flag gaps, and support regulatory exams, audits, and FINRA inquiries with accurate, timely documentation
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Building the function

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• Serve as the firm's senior operations contact for regulators, auditors, and counterparties
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• Hire, train, and supervise operations staff as the team grows
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What you bring

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• FINRA SIE, Series 7, Series 99, and Series 24, currently registered or within the two-year qualification window
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• 6+ years of broker-dealer, transfer agent, or fund administration operations experience, including at least 3 years leading a cash management, settlement, or omnibus/sub-accounting function
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• Hands-on experience with wires, settlement, and cash reconciliation at scale, and a firm grasp of customer fund segregation
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• Direct experience with alternative investment products such as non-traded REITs, BDCs, interval or tender offer funds, or LP interests
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• Working knowledge of Rule 15c3-3 (including the reserve formula and Special Reserve Bank Account mechanics), Rule 15c3-1, and books and records requirements
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• Strong reconciliation skills and advanced Excel; comfortable in operational systems, bank portals, and data files
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• Sound judgment, a strong sense of ownership, and comfort operating in a build-stage environment
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Nice to have

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• Prior Series 27 registration or experience serving as a FinOp
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• Experience at a carrying or self-clearing broker-dealer, or on an omnibus or sub-accounting desk
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• Familiarity with DTCC AIP, Fund/SERV, or major transfer agent platforms
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• Experience running tender offer proration and distribution allocations across sub-accounts
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• Experience supporting reserve computations or FOCUS reporting
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• Bachelor's degree in finance, accounting, or a related field
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Why join

You will run the money flow at the center of a new market structure for private markets distribution. Real ownership from day one, a direct line to the CEO, and the mandate to build the operations team.

Location: 44 Wall Street, New York, NY (in office, full-time)

Compensation: $150,000 to $185,000 base salary, plus discretionary annual bonus