Role: Locate Manager

Location: New York, NY

Employment Type: Full-Time

Base Salary: $100,000 – $125,000 USD plus discretionary bonus

About RQD*

RQD* is a next-generation correspondent clearing firm built to support the most innovative FinTechs, Retail and Institutional Broker-Dealers, RIAs, and Foreign Brokers. We combine state-of-the-art technology with deep industry expertise to deliver seamless clearing and custody solutions in today’s rapidly evolving financial landscape. Headquartered in New York, RQD* is rapidly growing to meet the needs of the financial services industry by empowering its clients with a 100% cloud-based back office system creating efficiencies and scale outside the traditional back office services.

If you are looking to join a fast-growing organization with a culture of growth and entrepreneurial spirit, we would love for you to join our team.

About the Role

We are seeking a Locate Manager to join our Securities Lending team and manage the day-to-day operations of RQD’s locate business. This role is central to our stock loan franchise, responsible for processing and fulfilling locate requests for hard-to-borrow securities, managing inventory, and ensuring compliance with Reg SHO 203 and 204 requirements.

The ideal candidate will have hands-on experience in the locate or securities lending space and a strong understanding of short selling mechanics and regulatory requirements. This individual will work closely with the Head of Securities Lending as well as operations, risk, and compliance teams to optimize locate fulfillment, build out counterparty relationships, and contribute to the growth of RQD’s securities finance platform.

Key Responsibilities

• Manage incoming locate requests from clients and internal desks, determining availability and pricing for hard-to-borrow securities in a timely and accurate manner.
• Monitor firm and street inventory to maximize utilization, identify sourcing opportunities, and minimize borrowing costs.
• Build and maintain relationships with external locate providers and counterparties to expand RQD’s sourcing network and improve fill rates.
• Ensure all locate activity is compliant with Reg SHO 203 and Reg SHO 204, maintaining accurate records and audit trails.
• Analyze locate demand patterns, borrow rates, and market supply/demand dynamics to identify revenue opportunities and improve pricing strategies.
• Assist in the development and enhancement of locate workflows, reporting, and technology tools to drive operational efficiency.

Qualifications

• Bachelor’s degree in Finance, Economics, or related field.
• 2–4 years of experience in securities lending, equity finance, locate operations, or prime brokerage.
• Strong understanding of Reg SHO (203 and 204), short selling mechanics, and hard-to-borrow markets.
• Familiarity with Loanet, LendingPit, and Bloomberg; experience with Anetics or other locate/trading platforms a plus.
• Series 7 license preferred; required within 6 months of hire if not currently held.
• Excellent attention to detail with the ability to process high volumes of requests with accuracy and speed.
• Strong communication skills and ability to interact effectively with counterparties and internal stakeholders.
• Ability to thrive in a fast-paced, high-volume environment with an entrepreneurial mindset.

Junior Margin/Risk Analyst

Experience: 3-5 Years 
Location: [New York / Remote] 
Reporting To: Chief Risk Officer

Overview:

We are seeking a Junior Margin/Risk Analyst to join our team and play a key role in monitoring client risk exposure and processing margin requirements. The ideal candidate will bring 3-5 years of experience in risk review and margin processing within the securities industry. This position offers the opportunity to work closely with our operations and settlement teams while developing expertise in regulatory compliance and risk management for our clearing firm.

Key Responsibilities:

• Perform daily risk monitoring, including real-time analysis through trading hours.
• Monitor client positions and account activity to identify potential risk exposures and margin deficiencies.
• Analyze and handle margin calls, calculating and verifying requirements while coordinating with clients and internal teams for timely resolution.
• Ensure compliance with applicable margin rules and regulations, including Regulation T and exchange requirements.
• Conduct regulatory compliance reviews and reporting.
• Assist with quantitative risk assessments for ad hoc projects and client onboarding.
• Handle exception management and escalation.
• Collaborate with operations and settlement teams to support trade processing, account maintenance, and clearing firm activities.
• Maintain accurate documentation and reporting of margin activity and risk metrics.

Qualifications:

• Bachelor's degree in Finance, Business, Accounting, or related field.
• 3-5 years of experience in margin processing, risk review, or related operations within the securities industry. Clearing industry experience a plus.
• Series 7 license required (or willingness to obtain upon hire).
• Strong knowledge of margin rules and regulations; knowledge of Regulation T (Rule 4210) and Portfolio Margin a plus.
• Knowledge of options theory and options greek risk measurements.
• Excellent analytical skills with strong attention to detail; familiarity with Excel, VBA, SQL a plus.
• Exceptional communication and interpersonal skills.
• Ability to thrive in a real-time, high-pressure environment and manage multiple priorities.

Salary Range: $75,000 - $125,000 USD

Overview: 

We are seeking a Securities Lending Trader who will be responsible for expanding our client network and managing matched-book activity across our platform. The ideal candidate will bring an established network of counterparty relationships and demonstrate a proven track record of originating new business within the securities lending space. The role involves diversified responsibilities across the stock loan business in coordination with operations and risk teams to optimize profitability through competitive pricing and balance sheet efficiency.

Key Responsibilities:

• Develop and manage new client relationships to expand RQD's stock loan counterparty network and revenue base.
• Implement and manage matched-book framework, pairing loans and borrows to optimize profitability and balance sheet efficiency.
• Manage locate requests for hard-to-borrow securities, determining availability and pricing for clients and internal desks.
• Set and negotiate lending and borrowing rates with counterparties, managing spreads, collateral, and financing costs.
• Monitor firm and street inventory to maximize utilization, identify trading opportunities, and optimize revenue from intrinsic value and reinvestment spreads.
• Coordinate with operations, risk management, and compliance to ensure timely settlements, accurate mark-to-market processes, and adherence to regulatory requirements (SEC, FINRA, Reg SHO 203, Reg SHO 204).
• Support recall management and corporate action processing to minimize risk and maintain operational efficiency.

Qualifications:

• Bachelor's degree in Finance, Economics, or related field; MBA or CFA a plus.
• Series 7 license required.
• 5–10 years of experience in securities lending, equity finance, or prime brokerage with proven client-facing and business development success.
• Established network of counterparty relationships within the securities lending marketplace.
• Strong understanding of securities finance markets, collateral management, FPL programs, and short selling mechanics.
• Knowledge of Loanet, LendingPit, and Bloomberg required; Anetics and other trading platforms a plus.
• Excellent analytical, communication, and negotiation skills.
• Ability to thrive in a fast-paced, high-volume environment.