Director Product Manager, Clearing



San Francisco, CA, USA
Posted on Tuesday, June 4, 2024

About Altruist

Altruist is a fast growing fintech company that's transforming the financial advice industry. Our mission is to make financial advice better, more affordable, and accessible to everyone. We’re a modern custodian built exclusively for registered investment advisors (RIAs). As we disrupt legacy custodians and revolutionize the $100T RIA market, we're seeking exceptional individuals to join our team. If you embody our core values of kindness, brilliance, and grit, and are passionate about making a meaningful impact, we want to hear from you!

About the position

Altruist is entering an exciting phase, and we're looking for a motivated and dynamic Director of Product Management to join our Clearing team.

The Clearing team's mission is to empower a better wealth management experience with robust, scalable, and secure solutions that enable seamless execution, clearance, and settlement of transactions. As a Product Manager, you will work closely with engineering leaders, operations, cross-functional teams, and key third-party vendors to prioritize product requirements and deliver new functionality.

What you’ll do

  • The primary mission is to manage the self-clearing product roadmap, prioritize the backlog, and deliver the best experience for Altruist advisors and their clients
  • Work closely and liaise with Engineering, Scrum teams, QA, Product, Clearing Operations, Advisory Operations, Compliance, Support, and Business teams
  • Strong understanding of Registered Investment Advisors (RIA) structures, concepts, needs; key regulatory bodies, and how modern clearing, custody, and brokerage platforms fits into the capital market ecosystem
  • Build and automate modern workflows for Rep Management, Books & Records, Purchases & Settlements, Transfers, Cashiering, Trading, New Accounts, Documents, Tax Reporting, Cost Basis, and Corporate Actions teams
  • Create product briefs, release notes, knowledge base articles and training materials to be used for internal distribution and keep the team on track for key deliverables
  • Ensure that business requirements for the clearing products are based on sound research, and planning, and are supported by industry experience, regulatory requirements, and compliance obligations
  • Contribute to key vendor decisions, support building and scaling of systems, understand core databases as well as relationship between books & records, middle office, advisor workstation, and mobile application
  • Build and externalize RESTful APIs in support of new features and asset classes
  • Investigate issues, bugs, defects, and discrepancies and work closely with engineering to find solutions
  • Support monthly, quarterly, and annual regulatory reports as needed, and become product contact for annual audits, compliance reviews, and regulatory exams

What you’ll bring

  • 10+ years of prior experience working in a product management role at a self-clearing broker-dealer
  • Expertise with financial products, the intricacies of domestic financial markets, building multi-asset clearing platforms, understanding of securities trading, execution, clearing, and settlement processes is a must
  • Demonstrated interest in investment & wealth management, advisor technology, and correspondent clearing
  • Proficient in writing requirements that meet FINRA, SEC, OCC and DTCC, NSCC rules and regulations
  • Proficiency with FIS Phase 3 preferred
  • Ability to work during core US equity market hours
  • Experience working in an agile environment using tools such as Jira, Confluence, AWS, Google Suite, Snowflake, Retool, CODA, Figma, Tableau, ReadMe, etc.
  • Proven ability to develop product strategies and effectively communicate recommendations to executive management as well as collaborate with engineering and operations leaders
  • Ownership mindset, be the subject matter expert and primary point of contact for other departments
  • Demonstrated ability to apply technology to enhance business processes
  • Affinity for a fast-paced, early-stage environment
  • Entrepreneurial attitude and a deep empathy for our customers
  • Bachelor's degree required

Bonus points

  • Experience building low-code applications, internal tools, and automated workflows
  • Familiarity with audit logging, monitoring, and alerting for actions and services
  • Strong knowledge of authentication and authorization principles
  • MBA and/or CFA designation
  • FINRA securities licenses are a plus (specifically 4, 7, 24, 27)
San Francisco, CA salary range
$226,000$285,000 USD


  • Competitive salary and stock options
  • Premium Healthcare, Dental, and Vision insurance plans
  • Generous paid parental leave
  • 401(k) savings plan with matching contributions
  • Flexible paid time off

Total compensation includes a competitive benefits package along with equity in the form of Stock Options (ISOs). A salary offer will be determined by a number of factors including experience, skill level, internal pay equity, geographic location, and other relevant business considerations. We review all employee pay and compensation programs regularly to ensure fair, equitable, and competitive pay. At Altruist, we are committed to providing fair, equitable, and competitive compensation by leveraging market data to inform our pay bands. Base salaries will be reviewed at regular intervals throughout the year, typically in conjunction with performance review cycles. By evaluating compensation on a regular basis, we are able to reward high performance and ensure all employees have opportunities for growth.

Don’t meet every single requirement? Studies have shown that women and people of color are less likely to apply to jobs unless they meet every single qualification. At Altruist we are dedicated to building a diverse, inclusive, and authentic workplace, so if you’re excited about this role, but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyways. You may be just the right candidate for this or other roles.