Senior Associate, Client Onboarding

About Clear Street:

Clear Street is modernizing the brokerage ecosystem. Founded in 2018, Clear Street is a diversified financial services firm replacing the legacy infrastructure used across capital markets.

We started from scratch by building a completely cloud-native clearing and custody system designed for today’s complex, global market. Clear Street’s proprietary prime brokerage platform adds significant efficiency to the market, while focusing on minimizing risk, redundancy, and cost for clients. Our goal is to create a single source-of-truth platform for every asset class, in every country, and in any currency.

By combining highly-skilled product and engineering talent with seasoned finance professionals, we’re building the essentials to compete in today’s fast-paced markets.

The Role:
As a client onboarding senior associate you will be partnering with equity prime brokerage sales and trading, the swap dealer, futures clearing, investment banking, securities finance, trade support, client service, legal and compliance on all facets of the client life cycle including client onboarding, new account openings, periodic refresh and client offboarding.

Central to this role will be a focus on the periodic refresh process and managing the annual case workload through to completion.  The goal is to remain 100% compliant with no past due periodic refreshes.  Specific responsibility includes:

• Conduct periodic reviews and updates of client records to ensure ongoing accuracy and compliance with regulatory standards.
• Effectively communicate AML requirements directly to clients and respond to inquiries while maintaining a professional and client-focused approach.
• Identify and resolve discrepancies or incomplete documentation in client files.
• Streamline and organize existing client folders to maintain accuracy, clarity, and efficiency.
• Analyze complex corporate structures and ownership hierarchies, including beneficial ownership and source of wealth/funds validation.
• Perform new Anti-Money Laundering (AML) screenings using tools such as WorldCheck and CLEAR, as well as conducting manual searches as needed.
• Maintain a strong working knowledge of relevant regulations (e.g., BSA/AML, FATF guidelines, and FinCEN rules)
• Review and escalate potential risks in accordance with company policies and regulatory requirements.
• Track and maintain the KYC refresh pipeline, ensuring tasks are completed accurately and within required timeframes.
• Prioritize workload effectively to meet deadlines and support overall organizational objectives.
• Identify opportunities for process improvements and assist in implementing procedural updates.
• Collaborate closely with the Onboarding and AML teams to ensure alignment and achievement of shared goals.
• Support various tasks as needed, including team initiatives, account database remediations, audits, and reporting.

The Team:
You will work in a fast-paced environment with a collaborative team of highly accomplished industry veterans. The client onboarding team was established in late 2021 and sits on the frontlines of Clear Street--building relationships with clients and providing a best in class onboarding experience for institutional clients including hedge funds, asset managers, market makers and family offices. Given that this team is relatively new, you’ll have the opportunity to shape how the onboarding, maintenance, and offboarding process works at Clear Street.

Requirements:

• You have at least 3 years of experience in Client Onboarding, preferably in Equities Prime Brokerage, Futures Clearing and Security-Based Swaps.
• You are proficient in CFTC, FINRA and SEC regulatory requirements with respect to customer onboarding for a Futures Clearing Merchant, Equities Prime Broker and Security-Based Swap Dealer, respectively.
• You are proficient in the requisite Anti-Money Laundering (AML) and Know Your Customer (KYC) regulatory and operational onboarding requirements for various institutional clients including hedge funds, asset managers, proprietary trading firms and family offices. This includes BSA, USA PATRIOT Act and FinCEN.
• You have a proven track record of building solid, long standing relationships with front office colleagues and institutional clients.
• You are client focused and understand how to maintain relationships through various market cycles and product innovations.
• You are passionate about tackling the root cause of the issues within the industry’s prime services offering today and are able to effectively articulate our mission as a new prime broker building a better client experience with a modern tech-stack.
• You are highly collaborative and con