Financial Services Operations Supervisor - Purchasing - PlanMember Financial Corporation

Headquartered in beautiful Carpinteria, California, PlanMember is a growing financial services firm serving hundreds of thousands of clients nationwide. For more than three decades, PlanMember has provided premiere retirement and investment services to individual investors as well as employees of education, nonprofits, governmental and private sector organizations. PlanMember has been a top-ranked fee-based broker dealer since 2004 and top-ten ranked for new retirement plans added and K-12 retirement plans.

With a mission of making a positive difference for our Partners, Members and Employees, PlanMember provides generous benefits and a personalized company culture that champions career growth and is looking for highly motivated individuals to join its growing team.

Location Information:  On-Site at our Carpinteria, CA Headquarters

Salary Range: 

Starting salary is typically between $65,000 and $73,000 annually, however, it is ultimately determined by the scope of the position, the candidate's relevant experience, credentials/certifications and internal equity. In addition to salary, benefits include, PTO, health, medical, vision, disability, life insurance benefits as well as 401(k), profit-sharing retirement program and much more.

A Financial Services Operations Supervisor plays a crucial role in the financial services industry, working within a team to ensure the smooth and efficient functioning of various financial operations. The ideal candidate should possess strong leadership skills, attention to detail, clear and professional communication, a commitment to accuracy, the ability to work effectively within a team, anin-depth knowledge of financial processes, and a positive attitude. This position requires the Supervisor to be the Subject Matter Expert in the department and will work closely with the Director of Operations on all department matters.

This position is considered an essential role day 1, meaning employees in this role must be able to perform their responsibilities without a lapse of time should a business continuity situation arise e.g., COVID-19 Pandemic.

As a Financial Services Operations Supervisor, you will be responsible for performing various financial and administrative tasks to support the operations of a financial institution or department. You will work closely with team members, clients, and other stakeholders to ensure accuracy, compliance, and efficiency in operational processes.

1. Team Supervision:
   1. Lead and supervise a team of financial services operations associates.
   2. Provide coaching, mentorship, and performance feedback to team members.
   3. Ensure that team members are well-trained and competent in their roles.
   4. Identify department needs and find viable solution to present to management.
2. Operational Efficiency:
   1. Streamline and optimize operational processes to improve efficiency and reduce operational costs.
   2. Implement best practices and standard operating procedures within the department.
   3. Work with management to ensure all improvements are in line with Operational Objectives.

1. Department and Regulatory Compliance:

1. 1. Stay up to date with financial regulations, internal policies and ensure all department transactions and activities comply with regulatory requirements.
   2. Assist in the preparation of documentation for audits and regulatory reviews.

1. Transaction Processing:

1. 1. Oversee and execute complex financial operations transactions, including securities trading, trade settlements, fund transfers, and other financial activities.
   2. Ensure accuracy and completeness of transactions and resolve discrepancies promptly.
   3. Research and follow through on outstanding items to ensure timely processing.
   4. Be the SME for the department.

1. Reconciliation:

1. 1. Supervise the reconciliation of financial accounts, including bank accounts, investment portfolios, and client accounts.
   2. Investigate and resolve discrepancies and exceptions.
   3. Work closely with management to work through any gaps, exceptions, or process improvements.
   4. Mentor other associates in the reconciliation process.

1. Client Services & Support:
   1. Interact with internal clients and provide a high level of support for account-related inquiries and issues.
   2. Serve as the main point of contact for complex client-related matters and escalations. Address matters promptly and professionally, escalating complex issues to management when necessary.

1. Process Improvement & Risk Management:
   1. Assist in the development and implementation of risk mitigation strategies and controls.
   2. Assist in the planning and implementation of department improvements.
   3. Identify improvements to operational workflows to increase efficiency and reduce operational risk based off data analysis.
   4. Propose viable process and policy changes based off assessments.
   5. Spearhead process improvement initiatives and collaborate with stakeholders to implement improvements.

1. Reporting, Documentation and Record-Keeping:
   1. Oversee the preparation of financial reports, performance reports, and regulatory filings.
   2. Ensure the accuracy and completeness of financial records.
   3. Review, approve and maintain detailed documentation of operational procedures, transaction records, and compliance-related documentation.
   4. Create Weekly, Monthly and ad hoc reports and clearly translating the data to management.

1. Technology Utilization:
   1. Proficient use of financial and department software and systems to perform daily tasks.
   2. Identify opportunities for process improvements and system enhancements.
   3. Collaborate with project managers and IT to implement process improvements.
   4. Train and mentor Team members on the utilization of the technology.

1. Team Collaboration, Training and Leadership:
   1. Collaborate effectively with internal and external colleagues to achieve departmental and organizational goals.
   2. Assist in creation and improvement of training and development of staff members.
   3. Create Training Plans and implement those Plans to ensure staff is properly trained on proper policies and procedures.
   4. Mentor associates and team members by sharing expertise and best practices.
   5. Identify gaps in department training and propose resolutions.
   6. Develop and implement performance improvement plans as needed.
2.  Performance Metrics:
   1. Set and monitor key performance indicators (KPIs) for the operations team.

1. Projects:
   1. Identify core projects in the department and work with senior team members to develop and implement a plan of execution.
   2. Champion or manage department projects and initiatives aimed at process improvement, system upgrades, or compliance enhancements.
   3. Provide process and implementation insights and recommendations on projects to project leaders.

• Purchasing Department Specific Responsibilities
  • Plan and prioritize daily team workload to ensure efficient and accurate processing.
  • Ensure daily preparation and reconciliation is completed timely and accurately.
  • Verify and approve all departmental ACH and Wire requests.
  • Ensure trade files are properly sent, confirmed, and reconciled prior to daily deadline.
  • Service and Research Requests assignment and trend analysis.
  • Approve, track, and report Process Improvement implementation.
  • Daily department processing as needed.
  • Be the Subject Matter Expert (SME) and first escalation point for the department.
  • Manage Cost Basis and Tax Lot periodic reporting.
  • Ensure compliance with company and department Policy and SOPs.
  • Work with Management on process, policy, and SOP improvements.
  • Ensure correct outlets are utilized for company, department, and process improvements.
  • Manage internal projects to ensure deadlines are met; communicate with internal and external stakeholders to ensure buy-in and understanding throughout the process.
  • Present department role PowerPoint to sales representatives and their staff.
  • Provide meaningful, timely, and constructive feedback to associates and management.
  • Lead weekly team meetings to discuss company, department and individual needs and goals.
  • Lead monthly individual developmental meetings to facilitate open and direct dialog with team members to identify department improvements, career goals and employee development.
  • Manage and facilitate employee training and development.
  • Mentor and train junior team members.
  • Complete periodic and annual reviews to be approved by Operations Manager.

Essential Job Function:  This is an Essential Job Function "Essential Staff" position for the purpose of our Business Continuity Plan "BCP". This distinction means you are expected to be fully prepared to perform essential functions of your job remotely as deemed applicable and necessary by your manager and the Company.

• Ability to work overtime with less than 24-hour notice.

• High School Diploma required.

• Bachelor’s degree in finance, Accounting, Business Administration, or related field (or equivalent work experience) a major plus.

• Previous experience of four plus years in a financial services or operations role.

FINRA SERIES LICENSE – SIE, 6TO

Position Information:  This job description is intended to convey information essential to understanding the scope of the position and is not an exhaustive list of skills, efforts, duties, responsibilities, or working conditions associated with it. PlanMember reserves the right to modify duties or job descriptions at any time.

PlanMember Financial Corporation is an Equal Opportunity Employer. PlanMember does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.