In the current environment, investors and brokers often turn to alternatives over conventional equity and fixed income investments in search of higher returns or yields. These complex products require a comprehensive review of suitability and potential conflicts of interest. The Product Risk Management team, within our Compliance, Legal and Risk (CLR) division, serves to detect, evaluate, and mitigate product risk by controlling the entry of products into the LPL system, vetting new products from a business and regulatory perspective, while also conducting ongoing monitoring of approved products. We partner closely with Investor & Investment Solutions, Service, Trading & Operations, and various CLR teams to examine the strength of new and existing products and sponsors on the platform, and determine controls to support. We also communicate risk findings to all impacted LPL teams and senior leaders, and provide periodic and ad-hoc reporting and dashboards. The team comprises of product experts and a collaborative culture that encourages independent thought and healthy debate. The Senior Analyst will be expected to (1) review and analyze complex products, programs or services, (2) understand and document product discussions and unique risk factors, (3) contribute to and build a more robust product data warehouse with the ability to run predictive modeling, (4) assess the integrity of our existing review process and identify additional conflicts of interest, and (5) work with other business groups to ensure firm wide understanding and acceptance of new or novel products introduced to the marketplace. This position requires a demonstrated knowledge of and passion for investment products and strong data management, project management and oral/written communication skills.
Product and Platform Review. Review new and existing products, services or programs based on assigned product areas, and determine whether those products can be sold or remain on LPLs platform. Identify potential risks, conflicts of interests, gaps in processes, procedures and workflows that prevent the products onboarding and provide documented rationale for concerns or propose reasonable solutions. Review underlying assets within packaged portfolios to determine underlying risks, and work with impacted teams to ensure reasonable controls. Document all findings, discussions, and actionable items. Synthesize and effectively communicate complex ideas or proposals. Engage with all levels of management to lead product and policy decisions. Integrate economic, financial, market, and industry data to detect trends, associations, and impacts (cause-effect relationships) to LPL. Ensure our firms E&O insurance continues to cover expanding product platforms. Must also monitor firm concentration. Complete reviews and their documentation timely and accurately.
Data Management. Build and maintain financial models, tables and databases, run SQL queries and capture firm-level business metrics for all products. Record industry trends, benchmarking (competitive positioning) and product pricing (fees and expenses). Study and track the firms cost to support the onboarding of new products.
Project Management. For any issues, problems, or opportunities identified, document all findings, discussions, developments, and actionable items. Collect information on the firms current policies, procedures, and constraints, as well as checking FINRA, SEC, MSRB and state securities rules and regulations before creating relevant options to address the issue. Formulate clear decision criteria. Collaborate with impacted business channels to ensure buy-in and drive recommendations and strategic initiatives to completion. Synthesize and effectively communicate complex ideas or proposals to all levels of management.
Other Job Duties:
1. Serve as a go-to resource for assigned product types.
2. Independently prepare updates and reports and present to senior management.
3. Actively contribute to Product Training planning meetings and update training modules as necessary
4. Recommend upgrades to and perform testing on the Product Definition Table or Enterprise Data Management.
5. Update procedures and charters
6. Participate and respond to internal and external audits
7. Other duties as assigned
8. Participate in Product Review Committee meetingsJob Requirements:
Minimum Education Required: Bachelor's degree in Economics, Finance or other business related field; or MBA/Masters and 3-4 years experience preferred. Strong organizational skills required.
Minimum Experience Required:
Licenses/Certifications Preferred: Series 7, 24, 63 and 65 (or 66). CFA, CFP or advanced degree a plus.
Software/Systems Skills Required: All Microsoft Office, particularly SQL, Excel, Access, Visio, Project, and Sharepoint, Python, R, Bloomberg, FIS Data, Dun & Bradstreet, and Morningstar. Machine Learning a Plus.
Accountable for assigned tasks and reporting to various managers, as well as accountable to various committees to which they are assigned. Run committees independently and manage projects. Initiative expected with ability to implement changes that are beneficial to the department, while reporting actions to manager.
List any Soft Skills required for the position:
Able to build, maintain and run SQL queries in back office databases. Working knowledge or experience with programming in Python or R. Working knowledge of FINRA, SEC, MSRB and state securities rules and regulations. Must have ability to multi-task and deliver complex projects on time. Strong written and oral communication skills a must, as well as people and project management skills. Ability to function both independently and cooperatively, provides leadership, and build consensus to reach goals.
About LPL Financial:
LPL Financial is a leader in the retail financial advice market and the nations largest independent broker/dealer*. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions. LPL and its affiliates have more than 4,200 employees with primary offices in Boston, Charlotte, and San Diego.
*As reported by Financial Planning magazine, June 1996-2019, based on total revenue.
If you join LPL, you will join a culture that believes in delivering a world-class client experience and looks to all employees to contribute to that goal by sharing their creativity, experience, and passion for continuous improvement. As a destination of choice, our top priorities are growth and development, social responsibility, and financial health for our employees.
We offer competitive compensation and industry leading benefits, including a wellness facility with onsite fitness classes, healthy meal choices, and a walk-in clinic. We support employee financial health through a 401k match, ESPP, and employee discounts. Work/life balance is our foundation and is supported through paid holidays, and paid time off (including time to volunteer). We foster a diverse work environment through Employee Resource Groups and diverse strategic partnerships.
Join the LPL team and help us make a difference by turning lifes aspirations into financial realities. Please log in or create an account to apply to this position. Principals only. EOE.
Information on Interviews:
LPL will only communicate with a job applicant directly from an @lpl.com email address and will never conduct an interview online or in a chatroom forum. During an interview, LPL will not request any form of payment from the applicant, or information regarding an applicants bank or credit card. Should you have any questions regarding the application process, please contact LPLs Human Resources Solutions Center at (800) 877-7210.Posted 2 Days AgoFull timeR-009051
As the nations leading independent broker-dealer*, we offer an
integrated platform of proprietary technology, brokerage, and
investment advisor services to more than 14,000 financial
advisors and approximately 700 financial institutions, enabling
them to help their clients turn life's aspirations into financial
realities. We also support more than 4,000 other financial
advisors with customized clearing solutions, advisory
platforms, and technology.
Weve told you what we do for our customers, but what can we
do for you?
Well provide you with a work environment that encourages your
creativity and growth, a leadership team thats supportive and
responsive, and the opportunity to create a career that has no
limits, only amazing potential.
*As reported by Financial Planning magazine, June 1996-2017,
based on total revenue.