Responsibilities of the FinOp in Meeting Compliance Requirements

business man2While some may see the duties of a Financial and Operations Principal (FinOp) as only FOCUS reports and net capital computations, the responsibilities are far greater. These include supervision of the books and records that are the source of the financials, and this is where the list of responsibilities grows.

Whether your firm has an in-house FinOp or uses an outside FinOp part-time, there are some important issues to understand:

  • What is a FinOp responsible for?
  • In what ways does a FinOp need to be involved in a firm’s activities beyond financials?
  • What are the responsibilities of a part-time or outsourced FinOp and do they differ from those of an in-house FinOp?
  • What must broker-dealer firms do to make sure FinOps can meet their responsibilities?

The article “What Is a FinOp?” provides valuable insight into the responsibilities of a Financial and Operations Principal and what your firm should be doing to support this person. Download this article to gain a better understanding of the role that a FinOp — either in-house or outsourced — should be playing in ensuring that your firm meets its compliance obligations.

Download the What Is a FinOp? article.