This is an opportunity to join a Fintech firm specializing in many facets of the broker-dealer space. You will help our team by focusing on money movements and ACAT transfers. The team is 100% distributed and remote. The role will be reporting directly to one of the Firm’s Director of Operations.

Things You Get To Do:

Ensure transactions are correctly recorded in appropriate systems facilitating successful settlement
Investigation and resolution of failing transactions
Processing of all eligible securities through the DTCC processing system. Candidate must have a thorough knowledge of the PTS (participant terminal service) system and all related functionality. This includes the following:
Settle securities transactions by processing deliver orders (DOs) on DTCC RAD
Collect marks-to-market on open contracts and money differences by processing Securities Payment Orders (SPOs)
Pledge securities to pledgees for collateral through the collateral loan system
Protect customer fully-paid-for positions and manage firm positions through the use of segregation and memo segregation procedures
Process ACAT free deliveries and fail reversals (FRVs)
Investigate & resolve cash and stock reconciliation issues
Address settlement discrepancies and engage the Director of Brokerage Operations for prompt resolution
Adhere to all rules, regulations, and procedures that govern this role and organization
Be aware of Operational Risk and escalate the Director of Operations
Review Buy-ins and Knowledge of REG SHO/15c3
Produce timely, quality, and relevant reporting. Regularly communicate amendments to policies and procedures
Verify and reconcile securities held at various depositories and transfer agents
Process and confirm fails within Obligation Warehouse (OW) for settlements reconciliation with brokers
Create reports on money discrepancies between our internal ledger and external platforms
Ensures reconciliations are accurate and complete and that discrepancies have been resolved in a timely manner
Works with other internal teams, fostering an environment that encourages participation, teamwork and communications.
Ensures industry rules, regulations and securities laws are adhered to for 15c3-3 and proper action is taken to ensure proper possession and control of customer securities
Maintains orderly and readily obtainable records for research and examination purposes
Prepares summary documentation/work papers for special projects/observations, submitting to management for review
Performs data collection and analysis to ensure the firm is in compliance with regulatory requirements
Tests controls and measures to identify excessive operational risk and/or control problems at an early stage and works with staff to maintain quality and efficiency standards
Works cross-functionally with other staff to create highly efficient operational processes that avoid control and quality deficiencies and associated monetary losses.
Escalates observations/issues to Management that require attention in order to mitigate risk
Assists the Director in completing all Internal Audit and Regulatory reviews for the operating group and to ensure that review findings are effectively resolved.
Driving continuous operational improvement, updating of the control framework and undertaking root cause analysis and trend analysis of operational issues
Support the business unit management with the application of policy frameworks and become established as a referral point for policy related queries.
Assist on automation of daily self-clearing processes collaborating with engineering
Participates on projects as needed
Performs other duties and responsibilities as assigned
Core hours are 9am - 4pm Eastern Time, to follow market hours.

Brokerage Operations Associate I - Clearing & Settlement