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Compliance Risk Concepts: Senior Compliance Consultants & Executives.

Financial and Operations Principal (FinOp) Services

CRC is a leader in outsourced FinOp services and our experienced practitioners fulfill their responsibilities with the utmost care. CRC is committed to product quality and, unlike many competitors, never overextend our FinOps with more client assignments than they can reasonably, and successfully service.

FinOp Support

Broker-dealer financial and operational requirements are dynamic and complex. A broker-dealer that relies on an outsourced FinOp model must ensure that its FinOp is appropriately trained and has the requisite experience with the specific business lines that it operates.

An outsourced FinOp must also demonstrate his or her capacity to dedicate the appropriate amount of time and effort to each firm he or she supports. A FinOp that is registered with 12 or more broker-dealers may be a red flag that your firm should carefully consider before employing the services of such individual.

Our Client Profiles

Our experts are Series 27/Series 28 licensed and have over 30 years of relevant industry experience supporting the following types of broker-dealers:

Large integrated services organizations
Institutional sales and trading shops
Full service investment banks
Private placement and mergers & acquisitions broker-dealers
Retail broker-dealers
Research broker-dealers

Delivery Model:

Our experts can serve as an outsourced FinOP, or support your internal FinOp. CRC’s service model is flexible and can also be leveraged on an hourly / “as-needed” basis – creating greater efficiency and significant cost savings for our clients. We offer a full range of FinOp services, including:

Monitoring and reviewing the following reports:

  • General Ledger
  • Balance Sheet
  • Trial Balance
  • Income Statement
  • Reconciled Bank Statements
  • Accounts Payable Reports
  • Other reconcilements as deemed necessary
  • Any other reports needed for preparation of computations
Preparation and filing of monthly and/or quarterly FOCUS Reports with FINRA. (as required)

Assistance with annual audit

Supervising additions to, and withdrawals from, the equity capital of company

Should the company become deficient in its net capital position, making the necessary reports to regulators and communicating any restrictions in business that may result

Performing onsite visits on a periodic basis

Maintaining ongoing dialogue with management team and outside accounting firm (to the extent necessary and appropriate)

Calculation of Fidelity Bond Coverage (annually)

Periodic projections of net capital for senior management

Reporting borrowings and repayment of subordinated loans for capital purposes

Conducting regular in person or telephonic meetings (no less than monthly) with accounting and finance personnel

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What We Do

At Compliance Risk Concepts, we provide clients with the critical skills and expertise required to establish, maintain and enhance a balanced and effective compliance operational risk management program. Contact us for more information on how we can provide financial consulting services for your organization.
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