Senior Accountant, DriveWealth
Broker-Dealer Accounting
$140-150k
More information about location
Cloud-based, API-driven brokerage infrastructure
Open for applications
Cloud-based, API-driven brokerage infrastructure
201-500 employees
Open for applications
$140-150k
More information about location
201-500 employees
Company mission
To make investing accessible to anyone, anywhere.
Role
Who you are
- 5+ years of progressive accounting experience, including meaningful exposure to a broker-dealer, clearing firm, custodian, or other regulated financial services environment
- Working knowledge of broker-dealer specific concepts: customer/broker payables, clearing deposits, sweep programs, PFOF, and regulatory fee structures (CAT, Section 31, FINRA)
- Strong general ledger and month-end close experience, including complex accruals, multi-entity/multi-bank reconciliations, and journal entry preparation and review
- Comfort working with high transaction volumes and reconciling activity across multiple external counterparties (clearing brokers, exchanges, custodian banks, mutual fund platforms)
- Exposure to FOCUS reporting, net capital rules (SEC Rule 15c3-1), or the customer reserve formula (SEC Rule 15c3-3) is a strong plus
- Advanced Excel skills (pivot tables, lookups, large dataset reconciliation); experience with ERP/GL systems (e.g., NetSuite) preferred
- CPA or active progress toward CPA preferred, not required
- High attention to detail balanced with the ability to work efficiently against a fixed monthly close calendar
- Strong written and verbal communication skills—able to clearly document and explain variances to auditors, regulators, and senior finance leadership
- A self-starter mentality comfortable with ambiguity and process-building in a scaling fintech environment
What the job involves
- This is a hands-on senior accounting role at the center of a self-clearing broker-dealer's monthly close
- You will own a broad set of reconciliations, accruals, and journal entries spanning bank cash management, clearing and execution venue relationships, regulatory fee accruals, and interest income across multiple custodial and sweep banks
- You'll work closely with Treasury, Operations, Regulatory Reporting, and the Controller's team, and your output feeds directly into the firm's FOCUS filings and net capital computations
- This role suits someone who wants real ownership of a broker-dealer close process—not just a piece of it—and who is energized by the complexity of clearing, custody, and regulatory accounting
- Perform and review monthly bank reconciliations across multiple operating, sweep, and clearing deposit accounts
- Record and reconcile interest income/expense entries across all cash and deposit accounts, including CD interest income and money market servicing fee accruals
- Prepare intra-bank transfer entries and investigate/clear reconciling items timely
- Prepare and true-up monthly accruals for clearing broker relationships, comparing accrual to actual invoiced amounts and researching variances
- Prepare accruals and actuals for exchange and execution-venue costs and compare current accruals against vendor invoices
- Prepare PFOF (payment for order flow) and commission comparison analyses, reconciling internal billing files to counterparty statements
- Reconcile DTCC/NSCC interest income on deposits (accrual and actual) and related clearing expense entries
- Prepare monthly accruals for regulatory fees, including CAT (Consolidated Audit Trail), SEC Section 31 fees, and FINRA fees (including prepaid FINRA Flex account activity)
- Support preparation of the DW LLC FOCUS report roll-forward and related flux analysis, ensuring balance sheet and income statement movements are understood and explainable
- Maintain documentation supporting all accruals and reconciliations to withstand internal, auditor, and regulatory (SEC/FINRA) scrutiny
- Reconcile omnibus and clearing accounts held at correspondent clearing firms, ensuring activity ties to statements and supporting schedules
- Prepare mutual fund settlement accruals and reconcile related P&L account activity
- Support proper classification of customer payables and pending disbursements (e.g., ACH pulls, sweep account movements) at month-end cutoff
- Prepare and post journal entries in accordance with the monthly close calendar, ensuring accuracy, proper support, and timely posting
- Prepare DW LLC expense accruals and sales compensation accruals
- Partner with the Controller and Deputy CFO on flux analysis, variance explanations, and ad hoc analysis supporting FOCUS/X-17A-5 filings and net capital reporting
- Identify opportunities to streamline, automate, and strengthen close processes and controls as the business scales
Our take
Robo-advisory products and fractional share trading have expanded the investment industry's reach, attracting a broader audience than ever before. This shift has necessitated a redesign of the fintech industry's infrastructure to meet the growing demand for accessible, efficient investment options.
DriveWealth plays a pivotal role in this transformation by developing APIs that serve over 100 global fintechs, challenger banks, and digital wallets. Its infrastructure enables seamless robo-advisory services and fractional-share trading, giving retail investors access to US markets and offering innovative stock-reward programs. Among its partners are notable companies like Revolut, MoneyLion, and Hemista.
As the company continues to grow, it remains focused on scaling its business by enhancing its technology stack, pursuing strategic acquisitions, and expanding its team. It is well on its way to its ultimate goal of providing tools that empower companies to create investment products that are both accessible and convenient for everyone.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
-9% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Aug 2021
$450m
SERIES D
Oct 2020
$56.7m
SERIES C
Total funding: $552.8m
Company benefits
- Health & wellness packages: We’ve built our benefits offering as a holistic package. We provide multiple health insurance carrier options and plans (medical, dental, vision) with access to HSA and/or FSA tax savings tools. We also provide income protection including life insurance, AD&D, short- and long-term disability, as well as extended coverage resources such as fertility benefits and mental wellness resources
- Vacation & time off: To build a successful organization, employees need time away to rest and recharge, so we provide paid time off including paid holidays and unlimited vacation time. We also strongly believe in work-life balance and, therefore, offer fully remote and hybrid work positions based on role requirements
- Professional developmnet: We believe one of the greatest contributions we can make is investing in our employees’ professional development. Therefore, we offer financial support toward continuing education courses, academic coursework, professional conferences, earning professional certifications, and membership fees to professional organizations
Company HQ
Financial District, New York, NY
Leadership
Naureen Hassan
(CEO)Previously President of the Americas at UBS, was on the Board of Governors at FINRA and Partnership For New York City and was the First Vice President of the Federal Reserve Bank of New York.
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