Brokerage Clearing Specialist
About the Role
Purchase & Sales Operations plays a critical role in trade processing, reconciliation, and settlement across various asset classes, primarily equities. This position ensures the timely and accurate confirmation of trades, supports regulatory reporting requirements, and coordinates with executing brokers, clients, and internal teams to resolve breaks and exceptions. This is strictly a Chicago-based role.
What You’ll Do
Review, match, and confirm trade data from executing brokers and counterparties
Process equity and/or fixed income trade activity through the firm’s clearing and settlement systems
Ensure accuracy of trade details, including price, quantity, counterparty, and trade date
Investigate and resolve trade discrepancies and breaks promptly
Liaise with traders, prime brokers, custodians, and counterparties to resolve P&S issues
Ensure trades are booked by regulatory guidelines (e.g., SEC, FINRA, DTCC)
Monitor trade settlement cycles and assist in fail management to avoid trade fails or buy-ins
Generate daily and monthly reconciliation and exception reports
Assist with post-trade compliance and regulatory reporting obligations
Participate in operational risk and control processes to mitigate financial exposure
You Bring
2+ years working in the P&S Dept with a Broker-Dealer
P&S specialist with Equity/Option product knowledge
Buy-in knowledge re: REGSHO rule
Reconciliation of Equity Trade Breaks in CNS
Obligation Warehouse monitoring and Corrective action
Series 99 (Operations Professional) certification required
Series 7, or willingness to obtain the Series 7 license within six months of employment
Familiarity with industry utilities and platforms (e.g., DTCC, NSCC, TRAQS, NASDAQ WORKX and TRAFIX)
Location
This role is open to candidates in the following location:
Chicago, IL - Hybrid
This role is expected to come into the office on a cadence set by the Hiring Manager/Team.
If you're not based in the location listed above, this role is not a fit, and we cannot accommodate remote work outside of it.
Applicants must be authorized to work for any employer in the U.S. DriveWealth does not sponsor or take over sponsorship of an employment visa at this time.
Pay Range: $100,000 USD – $120,000 USD