Reg SHO Compliance Officer

About Clear Street:

Clear Street is modernizing the brokerage ecosystem. Founded in 2018, Clear Street is a diversified financial services firm replacing the legacy infrastructure used across capital markets. 

We started from scratch by building a completely cloud-native clearing and custody system designed for today’s complex, global market. Our platform is fully integrated with central clearing houses and exchanges to support billions in trading volume per day. We’ve agonized about our data model abstractions, created horizontal scalability, and crafted thoughtful APIs. All so we can provide a best-in-class experience for our clients. 

By combining highly-skilled product and engineering talent with seasoned finance professionals, we’re building the essentials to compete in today’s fast-paced markets.

The Role:

At Clear Street, we dedicate ourselves to maintaining the highest standards of integrity and compliance within our trading operations.  We are seeking an experienced Reg SHO Compliance Officer who will specialize in overseeing the company’s adherence to the requirements of Reg SHO, with a focus on Rule 204.  

The Reg SHO Specialist will report directly to the Head of Custody Operations with a dotted reporting line to the Chief Compliance Officer.  This individual will be response for managing and enhancing the compliance framework for Rules 203 and 204 under Reg SHO.  The role involves detailed monitoring, reporting and advising on the company’s activities that relate to short sales and close-outs of fail-to-deliver positions.  The Reg SHO Specialist will provide guidance on the appropriate application of Reg SHO and the SEC’s FAQs related to Reg SHO to specific scenarios that arise in the company’s trading, market making, clearing and custody operations.  The successful candidate will ensure that the company meets applicable regulatory requirements, mitigates regulatory and operational risk and upholds our commitment to lawful and ethical trading practices.

Responsibilities:

• Maintain, administer and enhance compliance policies and procedures and written supervisory procedures related Reg SHO, particularly focusing on Rule 204.
• Monitor and analyze Reg SHO obligations and aging reports to identify and resolves any issues in real time
• Work closely with stock loan desk and trading personnel to address any questions or interpretive issues related to Reg SHO.
• Prepare and submit timely reports to internal stakeholders on Reg SHO compliance.
• Draft responses to regulatory inquiries and escalate any issues promptly to the Head of Custody Operations, the Head of the Equity Finance Desk and the CCO.
• Manage client notification process and, when applicable, the penalty box process. 
• Train and educate staff on Reg SHO compliance issues, best practices and relevant enforcement proceedings.
• Develop and manage relationships with outside counsel and regulators.

Requirements:

• At least 5 years of professional experience in financial services working across compliance or operations functions at a prime broker and/or clearing firm.
• At least 3 years of professional experience in a compliance or control function experience administering the Reg SHO compliance program at a prime broker and/or clearing firm.
• Bachelor degree in Finance, Economics or other similar discipline.  
• Experience interacting directly with FINRA and SEC regulators.
• Strong analytical and problem-solving skills.
• Excellent communication skills, both written and verbal, with the ability to interact effectively with all levels of staff and senior management.
• Ability to develop and implement operational processes and procedures around Reg SHO compliance.
• Ability to work in a fast-paced environment, work independently and quickly synthesize information to drive timely decision-making.

We Offer:
The Base Salary Range is $150,000 - $200,000. These ranges are representative of the starting base salaries for this role at Clear Street. Which range a candidate fits into and where a candidate falls in the range will be based on job related factors such as relevant experience, skills, and location. These ranges represent Base Salary only, which is just one element of Clear Street's total compensation. The ranges stated do not include other factors of total compensation such as bonuses or equity.

At Clear Street, we offer competitive compensation packages, company equity, 401k matching, gender neutral parental leave, and full medical, dental and vision insurance. Our belief has always been that we are better as a business when we are all together in person. We are requiring employees to be in the office 4 days per week. In-office benefits include lunch stipends, fully stocked kitchens, happy hours, a great location, and amazing views.

Our top priority is our people. We’re continuously investing in a culture that promotes collaboration. We help each other through challenges and celebrate each other's successes. We believe that modern workplaces succeed by virtue of having high-performance workforces that are diverse — in ideas, in cultures, and in experiences. We put in the effort to make such a workplace a daily reality and are proud to be an equal opportunity employer.  #LI-HYBRID