Job Description
Job Description
Job Description
Benefits:
- 401(k)
- Competitive salary
- Health insurance
- Paid time off
Department: Clearing Operations
Reports To: Clearing Operations Manager or Director of Operations
Employment Type: FullTime
Location: Addsion, TX
Position Summary The BrokerDealer Operations Specialist plays a central role in the daily operational functions that support fullydisclosed and omnibus introducing brokers within a clearing firm. This position ensures the accurate processing of trade activity, settlements, reconciliations, margin adjustments, corporate actions interactions, account maintenance, and compliancecritical operational workflows.
The Specialist serves as a subjectmatter expert (SME) in backoffice processes, clearing platform navigation, regulatory processing requirements, and crossdepartment coordination. This role is essential in maintaining operational integrity, mitigating financial and regulatory risk, and delivering highquality service to introducing brokerdealers.
Key Responsibilities 1. Trade Support & Lifecycle Processing - Process, validate, and reconcile daily trade activity across equities, fixed income, ETFs, mutual funds, and options.
- Review and resolve trade breaks, DKs, unmatched allocations, or incorrect booking details.
- Monitor and support the trade lifecycle from execution allocation comparison settlement.
- Coordinate with introducing brokers to correct trade discrepancies in a timely manner.
- Ensure compliance with trade reporting (CAT, TRACE, MSRB, etc.) where operations responsibilities apply.
2. Clearing & Settlement Operations - Facilitate settlement via DTC/NSCC/OCC and custodial connections.
- Monitor trade fails; support fail remediation, buyin processes, and settlement risk reduction.
- Ensure settlement instructions, counterparty details, and funding requirements are accurate.
- Coordinate with Settlements, Risk/Margin, and Treasury on settlementrelated funding and exposure impacts.
3. Account Maintenance & Operational Processing - Process new account openings, account transfers (ACATS), account updates, and restricted account workflows.
- Review documentation and ensure account setup aligns with regulatory and internal policy requirements.
- Monitor and process journaling of positions, cash movements, and corrections requests.
- Support taxrelated operational events (cost basis adjustments, 1099 reporting updates, wash sale adjustments).
4. Reconciliations & Exception Management - Perform daily reconciliations of positions, cash, trade activity, and settlement status between internal books and external depositories.
- Research and resolve breaks across DTC, NSCC, OCC, custodians, and the clearing platform.
- Track operational exceptions and escalate aged items or risksensitive exposures.
- Maintain auditready documentation for all reconciliations and event resolutions.
5. Corporate Actions & Income Processing Support (Note: Some firms separate these functions, but Ops Specialists often interface with them.)- Assist in processing dividends, interest, splits, mergers, tender offers, and other event types.
- Validate that event entitlements and allocations are accurately applied to client accounts.
- Coordinate with the Corporate Actions team to ensure reconciliation of proceeds and event instructions.
6. Client Service & BrokerDealer Support - Act as the operational point of contact for introducing brokerdealers, providing guidance and timely responses.
- Support brokers with inquiries involving trade corrections, account events, margin actions, and settlement outcomes.
- Provide training and operational support for new brokers onboarding to the clearing platform.
- Maintain strong communication channels to ensure operational clarity and prevent downstream errors.
7. Regulatory Adherence & Controls - Follow policies aligned with SEC, FINRA, OCC, and other regulatory bodies governing clearing operations.
- Ensure books and records are maintained in compliance with Rule 17a3/4 and firm WSPs.
- Support internal and external audits, regulatory examinations, and compliance reviews.
- Identify gaps or risks in operational processes and recommend enhancements.
8. Technology, Systems, & Process Enhancements - Work within clearing and backoffice systems (e.g., Broadridge, BETA, FIS, proprietary platforms).
- Submit and validate tickets for system changes, data corrections, and workflow improvements.
- Participate in User Acceptance Testing (UAT) for platform upgrades and automation tools.
- Contribute to operational efficiency initiatives, including workflow standardization and automation opportunities.
Required Qualifications - Bachelors degree in Finance, Business, Economics, or related field (preferred but not mandatory with experience).
- 25 years of experience in brokerdealer operations, clearing operations, settlements, or related backoffice functions.
- Strong understanding of trade lifecycle, clearing processes, regulatory environment, and securities products.
- Proficiency with Excel (pivot tables, VLOOKUP, reconciliations) and operational systems.
Preferred Licenses & Certifications - FINRA Series 99 (Operations Professional) strongly preferred.
- Series 7 a plus for understanding productlevel nuances.
- DTCC, NSCC, OCC, or SIFMA operations training certifications (helpful but not required).
Core Competencies - High attention to detail and accuracy under deadlines.
- Strong analytical and problemsolving ability.
- Excellent communication skills with both internal and external stakeholders.
- Ability to manage multiple tasks in a fastpaced, timesensitive environment.
- Riskawareness mindset with proactive escalation habits.
- Adaptability to evolving market conditions, regulatory changes, and operational demands.
Job Tags
Full time