Full-Time

Director – Brokerage Operations

Posted on 8/27/2024

Betterment

Betterment

501-1,000 employees

E-commerce platform for branded lifestyle products

Consumer Software
Consumer Goods

Compensation Overview

$165k - $180kAnnually

+ Equity Package + Incentive Bonus

Senior, Expert

New York, NY, USA

Hybrid position requiring three days a week in-office.

Category
Quality Control & Compliance
Supply Chain Management
Operations & Logistics
Requirements
  • Experience working in and knowledge of financial service operations, specifically related to securities products
  • A track record of launching new products and processes, as well as building out ongoing support
  • Team management experience, including all aspects of employee growth
  • FINRA Series 7, 24, and/or 27, or the ability to rapidly obtain
Responsibilities
  • Partner with Product and Engineering teams to define and build out new brokerage products, including any required operational processes
  • Oversee and improve core operations of Betterment’s broker-dealer entity including daily reconciliations, money movements, and securities processing, as well as periodic processes such as escheatment
  • Act as main counterpoint with auditors for our annual broker-dealer reviews
  • Work with the FINOP on operational processes and controls related to monthly financial reporting (e.g. break aging, reserve computations, etc)

Betterment operates an online retail platform that specializes in selling branded apparel, accessories, and gifts. The company designs and offers a variety of products, including t-shirts, hoodies, onesies, beanies, mugs, and tote bags, all aimed at promoting a positive lifestyle and happiness. Customers can purchase these items directly from Betterment's website, where products are listed at regular and sometimes discounted prices, making them accessible to a wide audience. Unlike many competitors, Betterment focuses on creating a unique brand identity that emphasizes well-being and happiness through its merchandise. The goal of Betterment is to attract a diverse clientele who appreciate lifestyle products that align with their values, ultimately generating revenue through direct sales while fostering a sense of community around the pursuit of happiness.

Company Stage

Debt Financing

Total Funding

$325.9M

Headquarters

New York City, New York

Founded

2010

Growth & Insights
Headcount

6 month growth

0%

1 year growth

0%

2 year growth

-2%
Simplify Jobs

Simplify's Take

What believers are saying

  • Betterment's new Bitcoin and Ethereum portfolio taps into the growing crypto market.
  • The launch of Betterment at Work's 401(k) match boosts appeal to small businesses.
  • Increased demand for ESG portfolios presents growth opportunities for Betterment.

What critics are saying

  • Higher fees in the new Premium plan may deter cost-sensitive customers.
  • Closure of the Philadelphia office may signal financial or strategic challenges.
  • Exposure to volatile cryptocurrency markets could lead to potential investor losses.

What makes Betterment unique

  • Betterment offers a unique Tax Loss Harvesting program to offset taxes on gains.
  • RetireGuide provides personalized financial goal assessments through online surveys.
  • Betterment's 0.25% management fee is competitive in the robo-advisor market.

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Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

401(k) Company Match

Unlimited Paid Time Off

Wellness Program

INACTIVE