Brokerage Operations Associate I - Clearing & Settlement

New

Alpaca Fintech

Remote - India, 9am - 4pm Eastern TimeFull-TimeMiddle

Salary not disclosed

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Job Details

Experience: 2+ years
Required Skills: SQLMicrosoft OfficeGoogle Workspace

Requirements

2+ years of Operations and DTCC Settlement experience
Knowledge of Brokerage Clearing operations
Knowledge of Financial industry rules, regulations and laws
Possess general knowledge of U.S. securities back office operations of a broker-dealer and/or carrying firm
Ability to Identify relationships, draw logical conclusions and interpret results for use in decision making
Excellent written and verbal communication skills
Ability to work independently with attention to detail as well as collaboratively within a team environment
Providing insights for continuously improving our client experience and providing efficiency
Ability to work independently in a fast-paced environment with multiple priorities
Basic knowledge of SQL, metabase, or other database coding language
Easily adapt between Microsoft and Google document and spreadsheet solutions
Be flexible to assist other functional areas when necessary
Support department initiatives and company vision
Must be able to change and adapt to the ever-changing regulatory landscape of the financial industry
Possess a Series SIE and 99 or higher securities license or achieve a passing result on the 99 within the first 180 days of employment

Responsibilities

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
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
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

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