David Cave
San Francisco
Overview
36
36
years of professional experience
1
1
Certification
Work History
Complex Risk Manager
Morgan Stanley
San Francisco
06.2023 - 03.2026
- Supervised risk management operations for Northern California, overseeing advisors' businesses including brokerage, advisory, lending, and operations.
- Analyzed risk factors and trends impacting financial operations and investment strategies, providing insights to inform decision-making.
- Approval of new accounts and review and approval of Option accounts.
- Monitor and approve any Employee outside business interests.
- Ensure adherence to firm policies and regulatory rules.
- Managed customer complaint process, ensuring timely resolution and adherence to firm policies.
- Facilitated training sessions on risk awareness and compliance for staff members.
Market Supervision Manager
Merrill Lynch
San Francisco
02.2022 - 04.2023
- Supervised compliance staff in review and oversight of San Francisco and Mill Valley, CA offices, ensuring adherence to regulations for over 100 financial advisors.
- Assure compliance with FINRA and SEC rules, and firm policies.
- Reviewed, approved, and monitored investment advisor portfolio management to ensure compliance with regulatory standards.
- Conduct active account reviews and client Contacts.
- Served as branch liaison for regulatory inquiries, effectively addressing customer complaints and arbitration issues to maintain client trust.
Regional Operations Manager
RBC Wealth Management
San Francisco
05.2021 - 02.2022
- Supervise Trading and Operations for the 9 branch Nor Cal Complex.
- Reviewed complex financial transactions, including check payments, wire transfers, and journals, ensuring compliance and accuracy.
- Addressed AML and fraud issues, resolving OFAC inquiries and managing foreign money movements to mitigate risk.
- Resolved trade errors and conducted daily review of complex trading blotter to ensure operational integrity.
Administrative Manager
Stifel Financial
San Francisco
03.2016 - 02.2021
- Reviewed and approved daily, monthly, and operational compliance reports, ensuring adherence to regulatory standards.
- Approved large trade and fund movements to ensure compliance with internal policies.
- Initial contact for all regulatory inquiries and coordinate handling of customer complaints.
- Review and monitor Investment Advisory Reps adherence to stated policy guidelines and SEC rules.
- Review and approve all requests for exceptions to any firm policy.
- Coordinated firm-wide effort to standardize trading and operations on a single platform, enhancing consistency.
- Managed transition of San Francisco office entities into a unified operational structure.
- Coordinated integration of all firms under Stifel umbrella by 2017, streamlining operations for improved efficiency.
- Primary approval for all Sales and Marketing material.
Supervisory Manager
UBS Financial Services
Walnut Creek
12.2014 - 01.2016
- Supervisory Manager for the Northern California complex, which consists of 8 branches in California and Nevada.
- Line supervision for 150 Financial advisors and support staff.
- Managed trading, operations, new accounts, and complex risk parameters to ensure seamless financial services.
- Ensured firm compliance with regulatory requirements for large disbursements and deposits in customer accounts, and conducted primary review and approval for all insurance products.
- Reviewed and approved RIA investment proposals while monitoring portfolio guidelines for new accounts to align with compliance standards.
- Coordinated audit exams and requests, ensuring adherence to regulatory standards and enhancing operational compliance.
- Developed training programs and established goals for all CSAs.
- Primary contact for all customer and regulatory complaints.
Supervisory Manager/Administrative and Compliance Manager
JP Morgan / Bear Stearns
San Francisco
09.1999 - 12.2014
- Ensured compliance with FINRA and SEC regulations, safeguarding organizational integrity.
- Supervised compliance and operations staff across San Francisco, Seattle, and Bellevue branches.
- Monitor staff review of communications, AML, trading, margin and RIA procedures.
- Supervised and approve regional CIP & Sarbanes-Oxley compliance.
- Reviewed and approved third-party fund requests, maintaining regulatory compliance.
- Reviewed and approved RIA allocation plan changes, special credit and special purpose loans.
- Primary contact for regulatory inquiries, customer complaint processing and active account customer reviews.
- Coordinated licensing and continuing education for regional staff.
- Conducted initial pre-hire checks and review of all registered candidates.
Administrative Manager
CIBC - Oppenheimer
San Francisco
10.1997 - 08.1999
- Oversaw trading, operations, and compliance review to maintain operational integrity.
- Supervised compliance and operations for San Francisco branch, ensuring adherence to regulatory standards.
- Coordinated conversion of accounts and procedures for CIBC-OPCO merger, facilitating seamless integration.
Trading Supervisor
Smith Culver Investment
Larkspur
01.1997 - 12.1997
- Directed policies and procedures for firm's profit and loss on trading desk and order flow payment reconciliation.
- Supervise and monitor trading activity for a 4 branch NASD firm.
- Coordinated conversion to new trading system, establishing policies and procedures for equity and fixed income trading.
- Served as primary liaison with exterior clearing firm, facilitating communication and resolving issues.
Employee Branch Manager
Charles Schwab
San Francisco
01.1991 - 01.1996
- Led Trading Supervisor role in Employee Branch, managing trading and compliance activities for employee base growth from 2,500 to 11,000.
- Conducted all cashiering and trading approvals, maintained restricted list compliance, and managed employee discipline.
- Coordinated with Corporate Secretary to transact restricted stock and 144 sales for all executives and outside Board of Directors of the Charles Schwab Corporation.
- Served as primary contact for accounts of celebrities and politically exposed clients, ensuring privacy and compliance with regulations.
Trading Supervisor
Charles Schwab
San Francisco
01.1990 - 01.1991
- Reviewed and approved equity and option trades exceeding broker limits, ensuring adherence to trading regulations.
- Supervised 40-50 brokers, resolving errors and monitoring trading activity while coordinating daily staffing and logging client calls.
- Managed trading activities during market hours on trading floor, ensuring compliance and accuracy.
Education
BA - Political Science
Sonoma State University
Rohnert Park, CA01-1976
Skills
- Risk analysis
- Regulatory compliance
- Investment strategy
- Account review
- Complaint management
- Compliance monitoring
Certification
- Series 3
- Series 7
- Series 8
- Series 14
- Series 24
- Series 63
- Series 65
- California Life & Health Insurance License
- Futures Commodity Merchant
Timeline
Complex Risk Manager
Morgan Stanley
06.2023 - 03.2026
Market Supervision Manager
Merrill Lynch
02.2022 - 04.2023
Regional Operations Manager
RBC Wealth Management
05.2021 - 02.2022
Administrative Manager
Stifel Financial
03.2016 - 02.2021
Supervisory Manager
UBS Financial Services
12.2014 - 01.2016
Supervisory Manager/Administrative and Compliance Manager
JP Morgan / Bear Stearns
09.1999 - 12.2014
Administrative Manager
CIBC - Oppenheimer
10.1997 - 08.1999
Trading Supervisor
Smith Culver Investment
01.1997 - 12.1997
Employee Branch Manager
Charles Schwab
01.1991 - 01.1996
Trading Supervisor
Charles Schwab
01.1990 - 01.1991
BA - Political Science
Sonoma State University