Career Center

RIA/BD Chief Operating Officer & Principal

OBS Financial Services, Inc.
Posted: October 24, 2012

RIA/BD Chief Operating Officer & Principal
OBS Financial Services, Inc. is an outsourced investment management firm that distributes its solutions to Financial Institutions across the country. We are dedicated to helping Financial Institutions and their Wealth Management programs take their business to the next level of profitability and growth. We consult with Financial Institutions’ management teams, their investment advisors and trust officers to provide fee-based investment management products and platforms that grow business effectively and profitably.

At OBSFS, we believe in taking a comprehensive view of Financial Institutions and their advisors, trust officers, infrastructure, technology providers, and current offerings to help them create a solid plan for the future. Our experienced staff is dedicated to delivering solutions based upon the Financial Institution’s unique challenges that will assist in successfully growing their client base and Managed.

Job Description

Chief Operating Officer
Chief Operating Officer (COO) and Principal for a Midwest firm responsible for overseeing and servicing a Broker Dealer an SEC Registered Investment Advisory firm, headquartered in Whitehouse, Ohio.

• Oversight of all operations including Technology, Compliance, Administration, Operations, and service for a retail brokerage firm and RIA;
• Development and oversight of policies & procedures that ensure compliance with statutes and regulations;
• Direct P&L accountability
• Assists in the development and monitoring of performance metrics that assess program efficiencies, and the implementation of improvements;
• Oversight of procurements of professional services and with particular knowledge of applicable State laws and regulations;
• Assists the President in setting key agendas for Board meetings. Attends speaking engagements, meetings and financial conferences.
• Oversees FINRA and SEC audits for the BD and RIA as well as independent audits;
• Ensures federal, state and local taxes are filed each year.

BD/RIA Principal:
• Ensures adherence to business, compliance, regulatory, and processing benchmark requirements.
• Manages and implements compliance, regulatory policies and procedures and develops and maintain corrective action plans in response to compliance, audit or agency findings.
• Updates written procedures and compliance relegations.
• Reviews the quality of new account and account maintenance processes and supervises team responsible for the accurate and timely processing of proprietary advisory new account business and maintenance.
• Reviews and approves new account applications from RIA & broker dealer distribution channels to ensure all business, compliance, and regulatory requirements are met.
• Performs branch audits to comply with standards and responds to inquiries and resolves issues with field representatives, internal departments, and clearing firms.
• Monitors licensing and continuing education requirements.
• Conducts client file reviews and monitors incoming and outgoing sales material correspondence.
• Establish and maintain FINRA books and records for the agency.
• Manages individual and firm registration requirements.
• Ensures FINRA Focus Reports & SIPC Reports are filed quarterly.
• Performs other duties as assigned or required.

• Bachelor's degree and 5 to 7+ yrs. relevant business experience.
• 5+ years of general management experience with clear P&L responsibility.
• Experience with governmental and regulatory agencies, with proven experience in passing audits and surveys by those agencies.
• Experience running a $100m+ business, and managing teams.
• FINRA Series 7 & 24 licenses Required.
• Experience in reviewing suitability for new account applications.
• Strong knowledge of SEC and FINRA rules and regulations.
• Strong knowledge of investment products and the ability to apply financial needs analysis.
• Able to travel 30% of the time.

If interested in applying or learning more, email resume to Michelle Sandwisch at:

To place your recruitment or general classified ad in the InvestmentNews Career Connection section, contact Letitia Buchan at (212) 210-0451 or


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