Associate Director - Regulatory & Exchange Fee Billing - Clear Street

About Clear Street:

Clear Street is building modern infrastructure for capital markets. Founded in 2018 by top Wall Street and Silicon Valley veterans, Clear Street is an independent, non-bank prime broker designed to solve the industry’s most neglected problem: legacy technology.

We have built a proprietary, cloud-native clearing and custody system from the ground floor to replace the outdated infrastructure used across capital markets. 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:

The Associate Director, Regulatory & Exchange Fee Billing is responsible for leading and overseeing the regulatory, clearing, and exchange fee billing and reconciliation processes, ensuring the accuracy and integrity of the firm's internal fee calculations, reconciliations to third party invoices, and billing to the firm’s customers in accordance with the agreed upon terms. This role involves developing and implementing standards, procedures, and controls for various regulatory and exchange fees, resolving complex discrepancies, and providing key communication and reporting across multiple teams. The ideal candidate will possess strong leadership, analytical, and problem-solving skills, attention to detail, and the ability to work effectively under pressure. They will also be responsible for strategic planning and execution. This person will work closely with the business to understand the billing profile and requirements for each customer and serve as a liaison for any billing related questions or issues while ensuring accurate profitability tracking at the customer level.

Responsibilities:

• Oversight of Reconciliation Processes: Manage the process of reconciling and validating global clearing fees, exchange fees/rebates, and regulatory fees by comparing internal calculations with third-party monthly invoices and reports (e.g., exchanges, brokers, clearing organizations) for all business lines. 
• Discrepancy Management: Identify variances and discrepancies, understand the root cause, and communicate the necessary changes and work with the appropriate teams to fix.
• Standardization and Control: Develop and implement robust standards, operational procedures, and internal controls for all regulatory and exchange fee reconciliation activities.
• Documentation and Compliance Assurance: Ensure meticulous documentation of reconciliations to support adjustments to fee schedules and to uphold regulatory compliance. 
• Customer Billing: Ensure customer billing profiles are set up properly including commission rates, exchange fees, regulatory fees, clearing fees, market data, and connectivity. Manage distribution of invoices to the customers and follow-up on collections as needed. Ability to independently answer questions from customers on the invoices. 
• Reporting and Insight Generation: Manage the creation of a comprehensive monthly reconciliation dashboard and customer profitability reports, analyzing data to extract actionable insights and recommendations.
• Cross-Functional Collaboration: Serve as a liaison between sales, client support, finance, clearing, and engineering teams cultivating strong collaborative relationships. 
• Strategic Planning and Execution: Formulate and execute strategic plans for the fee reconciliation function, aligning with the organization's overall business objectives.

Requirements  

• Preferably 5-7 years of relevant experience in trade processing and/or trade execution.
• Comprehensive understanding of trade processing and the complexities of regulatory and exchange billing structures including liquidity flags, maker/taker fees, and other regulatory fees for equities, options, and futures. 
• Technologically inclined with a focus on establishing first-class controls, automation, and efficiencies for the end-to-end process.
• Ability to work in a fast-paced environment and meet deadlines.
• Ability to communicate clearly and maintain a high level of professionalism when interacting with customers.
• Self-starter who can take initiative to own new processes or requirements related to the process.

Skills:

• Ability to work with large and highly complex data sets to summarize, evaluate, and reconcile
• Problem solving and analytical thinking
• Strong communication and negotiation skills
• Excellent verbal and written skills

We Offer:

• The opportunity to join a small and growing team, where you can make a difference
• A meritocratic philosophy that champions collaboration
• Room to innovate, solve complex business problems, and build new products
• Competitive compensation, benefits, and perks

The Base Salary Range for this role is $150,000 - $180,000. This range is representative of the starting base salaries for this role at Clear Street. Where a candidate falls in this range will be based on job related factors such as relevant experience, skills, and location. This range represents Base Salary only, which is just one element of Clear Street's total compensation. The range stated does 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. As such, 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

Last updated: 16 hours ago