FINRA
FINRA (Financial Industry Regulatory Authority) is the main organization that oversees securities firms and brokers in the United States. Think of it as the "rule keeper" for the financial industry. When someone mentions FINRA on their resume, it usually means they have experience working with financial regulations, ensuring companies follow rules about trading stocks and bonds, or handling licensing for financial professionals. It's similar to how the FDA regulates food and drugs, but FINRA focuses on the financial world. This organization replaced what was formerly known as the NASD (National Association of Securities Dealers).
Examples in Resumes
Maintained compliance with FINRA regulations for a team of 50 financial advisors
Prepared and filed FINRA reports and conducted internal audits
Obtained FINRA Series 7 and Series 63 licenses
Led FINRA examination preparation and response processes
Typical job title: "Compliance Officers"
Also try searching for:
Where to Find Compliance Officers
Professional Networks
Industry Resources
Example Interview Questions
Senior Level Questions
Q: How would you handle a potential FINRA violation in your department?
Expected Answer: A senior compliance professional should describe a structured approach: investigating the issue, documenting findings, implementing immediate corrective actions, reporting to necessary parties, and developing preventive measures for the future.
Q: What experience do you have with FINRA examinations?
Expected Answer: Should demonstrate experience managing regulatory examinations, preparing documentation, coordinating responses, and implementing changes based on examination findings.
Mid Level Questions
Q: What are the key FINRA reporting requirements you're familiar with?
Expected Answer: Should be able to explain common reporting requirements like suspicious activity reports, customer complaints, and regulatory filings, along with their deadlines and importance.
Q: How do you stay current with FINRA rule changes?
Expected Answer: Should mention specific methods like regulatory notices, continuing education, industry updates, and professional networks used to stay informed of regulatory changes.
Junior Level Questions
Q: What FINRA licenses do you hold or are you pursuing?
Expected Answer: Should be able to discuss common entry-level licenses like Series 7 or SIE, and show understanding of licensing requirements for different roles.
Q: What do you know about FINRA's role in the financial industry?
Expected Answer: Should demonstrate basic understanding of FINRA as a regulatory body, its main purpose, and how it affects financial firms and professionals.
Experience Level Indicators
Junior (0-2 years)
- Basic understanding of FINRA regulations
- Entry-level FINRA licenses (SIE, Series 7)
- Compliance monitoring
- Record keeping
Mid (2-5 years)
- Multiple FINRA licenses
- Compliance program management
- Regulatory filing experience
- Internal audit assistance
Senior (5+ years)
- Advanced FINRA licenses
- Examination management
- Regulatory relationship management
- Compliance program development
Red Flags to Watch For
- No FINRA licenses or unwillingness to obtain them
- Lack of understanding about basic securities regulations
- Poor attention to detail in compliance matters
- No experience with regulatory documentation or reporting
Related Terms
Need more hiring wisdom? Check these out...
Navigating Compliance: Structuring On-the-Job Training in Regulated Industries
Salary Transparency Laws: What HR Leaders Need to Know
Global Compliance Checks: The Hidden Puzzle Pieces of Background Screening Revealed
