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St Louis, MO Full Time Posted by: Edward Jones Posted: Tuesday, 2 March 2021

Our firm maintains and continuously improves a best-in-class standard for servicing client orders. A major component to achieving this standard is ensuring we obtain the best possible pre-trade data and prices, and the best possible executions. To meet our goal, this Associate will be responsible for the Best Execution policies for Equity trading and examining the firm's trades to ensure executions are within those policies. To improve the policy, they must think strategically about our market space and competition, our trading partners and practices, and they must have deep knowledge of regulatory requirements and rules. They need proven communication and influencing skills as the strategy must be shared and understood firmwide. They also need proven skills with data management tools such as Excel, SQL, Tableau, R and similar statistical software packages. Because this role has a balance of strategic innovation (projects) and core work responsibilities (processes), successful candidates must be prepared to spend time on both types of work.

Specific responsibilities include the following:

  • Continuously improving a Best Execution policy that sets the standard for our market space and reinforces firm values of excellent client service. They will also communicate and share this policy and ensuing results to leadership and business partners on a monthly and quarterly basis.
  • Deep knowledge of US and Canadian regulatory frameworks, rules and guidance (ie the SEC, FINRA and IIROC) and their impact on our business is required.
  • Analyzing execution quality daily to ensure our high standards are met regarding proper pricing and best execution on client equity trades.
  • Reviewing trades daily to ensure executions conform to rules such as Best Execution, Limit Order Protection and Reg. NMS.
  • Mitigate regulatory risk for Edward Jones by preparing and monitoring reports and systems used for supervision by Trading Floor managers.
  • Rigorously monitor counterparty and dealer/market-center performance to inform an optimal order routing strategy. This strategy must ensure firm standards are met or exceeded.
  • Liaison with internal partners such as: 1) Compliance, Legal and Operations as needed in response to regulatory inquiries, audits and examinations, 2) Firm Analytics and Technology for enhancement and project prioritization, 3) Advisory and Trust departments to ensure execution service levels are met.
  • Serve as a point of contact for vendors, ensure we are appropriately using firm resources to achieve our goals and demonstrate our successes.

Additional projects as assigned by the Trading Desk leaders. Examples of past project work include: 1) Developing a data strategy for their area, 2) Analyzing the commissions charged to clients, 3) Mentoring and working with interns and rotational associates.

  • A bachelor's degree with an emphasis in Math, Statistics, Business, Economics, Finance and/or Accounting is required.
  • Series 7, 57 and 63/66 are required.
  • CFA, CFP, CPA or MBA preferred
  • Five or more years of financial services industry experience with a preference for Trading or Compliance experience. Capital Markets knowledge is key to understand the context behind the situations and conclusions encountered in this role.
  • This position requires a proven knowledge of industry rules and regulations in both the United States and Canada (FINRA, SEC and IIROC). A solid understanding of equity market structure is required, previous work experience on a trading desk is highly preferred.
  • Extensive experience with data management and analysis is critical as is the ability to organize and manage one's time and day efficiently. Experience with statistical software such as SQL, R and Python will be a factor used to distinguish between qualified and exceptionally qualified candidates.
  • The Best Execution Manager will be asked to communicate with various internal departments (Trading, Trade Operations, Compliance, Legal, Field Supervision, Internal Audit, etc.), and industry regulators as part of their responsibilities so proven written and verbal communication skills are essential. Exceptional candidates should be able to speak to their experience in Leading Change and Innovation.
  • This job demands a wide range of problem-solving skills due to the varied nature of the work. For example, on a day-to-day basis moderate problem-solving skills are necessary because this associate will analyze daily trade pricing reports to determine when pricing adjustments should be made on behalf of clients. Advanced skills will be necessary to analyze longer-term trends in best execution to determine business process changes. This associate will present proposed changes to current practices based on the monthly analysis. Best Execution is an evolving area for regulatory concern with new rules and new requirements. This associate will need to quickly react to and implement solutions in response to these changes.
  • The associate will be responsible for producing data in response to requests from Compliance Oversight, Internal Audit, Legal and industry regulators. To correctly perform this function the associate must have excellent attention to detail and the ability to source and provide data promptly.
  • This associate will work independent of daily review and will not rely on others or a team to perform this job function. Some decisions are routine; however the majority of decisions are complex in nature and dependent upon facts related to the trades in question. Broad direction is given by industry regulation, but daily decisions are determined by discretion of the associate. This associate will also monitor and work with third party vendors to ensure our firm's standards are being met and our firm resources are appropriately used to achieve our goals and demonstrate our success.

St Louis, MO, United States of America
Edward Jones
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3/2/2021 5:15:51 PM

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