[Remote] Finance Manager - Canada at Alpaca

Canada

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Fintech, Brokerage, Financial ServicesIndustries

Requirements

(Implicit: Expertise in Canadian brokerage regulations, CIRO rules, IFRS financial statements, and financial operations in a fintech/brokerage environment)
(Implicit: Experience with regulatory reporting such as MFR, Form 1, GST/HST/QST filings)
(Implicit: Strong analytical skills for P&L analysis, reconciliations, and risk management)
(Implicit: Ability to manage daily operations, controls, and compliance in a fast-paced startup)

Responsibilities

Oversee and own the preparation and filing of the monthly MFR (Monthly Financial Report) and support the bridge from internal reporting to the General Ledger and Form 1
Conduct analysis on fails, inventory, client receivables/deficiencies, borrow fees, and FX P&L
Lead the preparation of IFRS financial statements and notes for quarterly and annual reporting
Manage GST/HST/QST filings and intercompany accruals, invoices, and netting
Ensure adherence to CIRO rules on margin, client positions, and financing arrangements, including securities borrowing/lending
Manage daily reconciliations (trust accounts, bank reconciliations, custody statements, client ledgers) and ensure exceptions are resolved promptly
Ensure daily reconciliations to CDS/DTCC statements and ensure proper segregation of client assets
Partner with operations to review fails, settlements, and custody reconciliations, escalating issues as needed
Ensure appropriate escalation and approvals for unsettled client trades and pre-borrow activities
Provide dual-control approvals on trust and operational cash and securities movements
Maintain and manage the incident log for trust breaks, settlement breaks, and PAD spikes, ensuring issues are tracked and addressed in a timely manner
Prepare and review the weekly RAC report
Lead the Form 1 audit process and coordinate with external auditors
Support periodic capital stress testing and contribute to vendor oversight, including SOC reports
Ensure compliance with all applicable Canadian securities regulations
Ensure compliance with segregation of client securities and free credit balances, in accordance with CIRO rules

Skills

Financial Operations

Controller Responsibilities

Financial Reporting

Compliance

Broker-Dealer Operations

Fintech

Accounting

Financial Oversight

Alpaca

API-first brokerage for stock trading

About Alpaca

Alpaca Securities LLC operates in the stock brokerage industry by providing an API-first brokerage service that allows other businesses to create their own trading applications. This service enables companies to integrate stock trading functionality into their platforms without the need to become brokers themselves, saving them time and resources. Alpaca's API supports seamless trading experiences for users and includes features like Local Currency Trading, which allows international investors to trade US stocks in their local currency. Additionally, Alpaca offers crypto wallets and coin pair trading, expanding the financial services available to its clients. Unlike traditional brokers, Alpaca focuses on a business-to-business model, catering primarily to other companies that want to offer trading services to their customers. The goal of Alpaca is to simplify the trading process for businesses and their users while providing a secure and efficient platform for executing trades.

San Mateo, CaliforniaHeadquarters

2015Year Founded

$84.5MTotal Funding

CONVERTIBLECompany Stage

Fintech, Financial ServicesIndustries

201-500Employees

Benefits

Competitive salary & stock options

Medical, dental, & vision

Home office setup stipend

Monthly Brex Card stipend

Risks

Increased competition from fintech platforms like GUGU offering commission-free trading.

Potential regulatory challenges in international markets may complicate Alpaca's expansion.

Self-clearing transition introduces operational risks in managing settlement processes.

Differentiation

Alpaca offers API-first brokerage services, enabling businesses to build trading applications.

Alpaca supports local currency trading, simplifying US stock trading for international investors.

Alpaca provides crypto wallets and coin pair trading, expanding financial services for clients.

Upsides

Alpaca's self-clearing transition enhances asset transfers and securities lending opportunities.

Partnership with Derayah Financial accelerates Middle Eastern business expansion for Alpaca.

Alpaca's limit orders and extended hours trading for fractional shares lead retail trading.

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