Director, Broker-Dealer Operations

About Betterment

Betterment is a leading, technology-driven financial services company that offers investing and retirement solutions for retail investors and investment advisors as well as financial wellness solutions, including a 401(k) for small and medium-sized businesses. Our team is passionate about our mission,
to empower people to build wealth with confidence and ease
. We’re headquartered in NYC and offer hybrid NY-based positions (Four days/ week in-office).

The Broker-Dealer Operations Team at Betterment oversees and operates Betterment’s broker-dealer entity that safeguards over $65B in assets for over one million customers. The team is responsible for firm-level dividend and corporate action processing, reconciliations, design and operation of internal controls, and regulatory and financial reporting to maintain compliance with relevant FINRA and SEC financial responsibility rules.

The team works collaboratively across departments to improve and automate processes, as well as owns the relationships with various third parties including the broker-dealer’s auditors, clearing firm, and banking institutions. Additionally, the team partners with Product and Engineering to design and operate new products, such as Self-Directed Investing, Securities Lending, and more.

As Director of Broker-Dealer Operations you will lead the team and oversee all financial and operational aspects of our broker dealer business. You will collaborate cross-functionally to ensure compliance with industry regulations, maintain accurate financial records, build new products, and optimize operational processes to support our growth.

This role is based out of our NYC office. For jobs based out of our NYC HQ, we require in office attendance Monday through Thursday, weekly. Below we've reflected the base salary range we would offer for this position. Actual salaries may vary depending on factors including but not limited to location, experience, and performance. The range listed is just one component of Betterment’s total compensation package for employees.

• New York City: $173,000 - $189,000

We offer a competitive equity package, health, dental and vision benefits, life and AD&D, short-term and long-term disability insurance, EAP, commuter and parking benefits FSA/HSA, and 401(k) with employer match as well as a flexible PTO policy. This job may also be eligible for variable compensation in the form of a company incentive bonus.

The ideal candidate for this role will be an experienced manager who possesses a strong understanding of broker-dealer operations, financial reporting, regulatory compliance, and product development, particularly in financial services and technology. They are comfortable in a spreadsheet, talking to auditors and regulators, and working with our Product and Engineering teams to build out new products. On any given day you will:

• Manage the broker-dealer operations team, providing feedback and coaching, partnering to solve a complex issue, and overseeing the completion of all required tasks
• Design new systems to improve and enhance procedures for corporate action processing, control operation, net capital monitoring, and other key responsibilities
• Maintain partner relationships for key banking and securities servicing vendors
• Partner with our Legal and Compliance teams determine how best to structure a new product, design a control, or remediate an issue
• Whiteboard with Product and Engineering on how to implement a new process
• Collaborate with finance to on reporting and budgets

• Experience working in and knowledge of financial service operations, specifically related to securities products (e.g. corporate actions, margin, transfers, etc)
• 5+ years of management experience of an operational or related team
• A track record of launching new products and processes, as well as building out ongoing support
• FINRA Series 7, 24, and/or 27, or the ability to rapidly obtain
• Exceptional communication skills, both written and verbal
• Nice to haves: experience working in Fin Tech or interacting with auditors and regulators

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