Margin Clerk
Summary/Function:
Compute margin requirements to ensure compliance with industry and firm regulations and requirements. Participate in the bookkeeping and daily activities of the department to contribute to efficient and effective business operations. Compile financial data to determine customer margin (equity) in stock purchased.
Experience and Skills:
- Bachelor's degree or associate's degree preferred.
- Ability to operate a computer and adding machine by touch.
- Strong computer skills to include Microsoft Outlook, Word and Excel.
- Strong organizational skills and attention to detail.
- Familiar with department policies and procedures.
- Strong communications skills, verbal and written.
- Strong customer service skills.
- Ability to troubleshoot and resolve problems.
- Working knowledge of House, SEC and Exchange margin and cash account requirements, safekeeping, segregation, etc.
- Follow policies and procedures. Maintain client confidentiality.
- Communicate in a clear and service oriented manner. Use appropriate, professional language and grammar to effectively exchange ideas and information.
- Ability to proactively work with both external and internal clients. Relate with others in a professional manner in order to accomplish work responsibilities and objectives.
- Ability to maintain regular, predictable attendance.
- Compile data, using a computer, to determine customer margin (equity) in stocks purchased and total customer account value, and to compute the difference between purchase price of stock and present market value to show amount due to firm.
- Notify Financial Advisor (FA) and supervisor when customer margin is lees that government regulations or firm requirements. Resolve customer margin account problems using customer account information and transaction records.
- Work closely with FAs, Client Associates and clients in all accounting, bookkeeping and day to day activities of the department to include:
- Make journal entries and adjustments to client and firm accounts. Review activity for proper approvals.
- Balance mid-month payroll write off accounts.
- Balance end of month trade error accounts.
- Post checks out of client accounts. Print checks and distribute them based on branch instructions.
- Deposit incoming funds to client accounts. Process daily check deposits.
- Approve check and Fed Wire transfers for clients.
- Perform any other duties as assigned.
Competitive salary plus excellent benefits and perks including, but not limited to:
- Medical, Dental and Vision
- Company 401(k)and ESOP contribution
- Generous sick, vacation, and maternity/parental leave
- Paid holidays
- Professional Development Opportunities
- Tuition Reimbursement ($15,000 lifetime cap)
- Discounted personal insurance including home, auto and recreational vehicles
- Charitable gift-matching program
- Davidson Day of Giving - Our tradition of positively impacting communities in which we live and work.
The potential base pay hiring range for this role is $26.44 - $31.25. The compensation offered will be determined on a case-by-case basis considering a variety of factors including, but not limited to, the skills, relevant work experience, and geographic location of each specific candidate.
D.A. Davidson has been in business for over 87 years! As an employee-owned company, our success is driven by our high standards of business ethics, integrity, and the belief that our Associates are our most important assets. We hope you will consider joining us!
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.
From: D.A. Davidson Companies
To empower our business partners to deliver exceptional service to each other, our clients and our communities by investing in, and sharing our successes with, our partners.
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