Settlements Associate

Your Role:

Global Equity Settlement

Own the end-to-end global equity settlement process, partnering with our custodian, counterparties, and internal stakeholders to ensure timely and accurate settlement across multiple international markets.

Ensure transactions are accurately recorded across internal and external systems to facilitate successful settlement.

Monitor daily settlement activity and proactively identify transactions at risk of failing.

Investigate and resolve settlement exceptions, trade discrepancies, and failing transactions.

Review buy-ins, settlement penalties, and aged fails while coordinating remediation efforts with counterparties and our custodian.

Monitor trade matching through SWIFT and settlement platforms, ensuring counterparties affirm and match trades within required market deadlines.

Trade Exception Management

Investigate and resolve trade mismatches, including:

Settlement instruction discrepancies

Quantity and price differences

Allocation issues

Counterparty booking errors

FX and market-specific settlement exceptions

Partner closely with trading, finance, compliance, counterparties, and custodians to drive timely resolution of settlement issues.

Escalate complex settlement discrepancies and operational risks to the Director of Brokerage Operations when appropriate.

Cash & Position Reconciliations

Perform daily reconciliations of securities positions and cash balances across multiple global markets and currencies.

Investigate and resolve cash and stock reconciliation breaks between internal ledgers and external custodians.

Produce reconciliation reports identifying money differences, position discrepancies, and operational exceptions.

Ensure all reconciliation breaks are researched, documented, and resolved within established service levels.

Operational Risk & Regulatory Controls

Ensure operational processes comply with applicable SEC, FINRA, and global market regulations.

Support compliance with SEC Rule 15c3-3 by helping maintain proper possession and control of customer securities.

Identify operational risks and escalate issues that may impact clients, settlement, or regulatory obligations.

Maintain complete and organized operational records supporting audits, examinations, and regulatory reviews.

Assist the Director of Brokerage Operations with Internal Audit requests, regulatory examinations, and remediation efforts.

Reporting & Process Improvement

Produce timely, accurate, and meaningful operational reporting on settlement activity, aged fails, reconciliation breaks, and operational metrics.

Prepare work papers, operational summaries, root cause analyses, and management reporting.

Identify recurring operational issues through trend analysis and recommend improvements that reduce risk and increase efficiency.

Update operational procedures, controls, and documentation as business processes evolve.

Support the implementation of policy frameworks while serving as a resource for operational policy questions.

Automation & Strategic Initiatives

Partner with Engineering and Product teams to automate manual operational workflows and improve settlement processes.

Leverage SQL, Metabase, AI tools (such as Cursor and ChatGPT), and reporting platforms to enhance operational efficiency and analytics.

Participate in cross-functional projects supporting new products, international market expansion, and operational scalability.

Contribute to continuous improvement initiatives that enhance the client experience while reducing operational risk.

Collaboration

Work cross-functionally with Brokerage Operations, Trading, Finance, Compliance, Engineering, and Customer Operations to ensure seamless post-trade processing.

Foster an environment of teamwork, accountability, and continuous learning.

Support department initiatives and perform additional responsibilities as business needs evolve.

Who You Are (Must-Haves):

3+ years of experience supporting brokerage operations with a focus on global equity settlements

Strong understanding of securities settlement lifecycles within a broker-dealer or carrying firm

Experience working with third-party clearing firms and global custodians

Knowledge of U.S. broker-dealer operations and financial industry regulations.

Familiarity with BNY Nexen or similar global custody settlement platforms

Working knowledge of SWIFT settlement messaging (MT54x series), Euroclear, DTCC, and international settlement practices

Experience settling securities across global markets, including Europe and Asia (Hong Kong, South Korea, and other international markets)

Strong expertise performing cash and position reconciliations across multiple currencies and markets

Experience investigating trade mismatches and collaborating directly with counterparties to resolve settlement issues

Ability to analyze operational data, identify trends, and make sound decisions based on available information

Excellent written, verbal, and interpersonal communication skills

Strong organizational skills with exceptional attention to detail

Ability to manage multiple priorities while working independently in a fast-paced environment

Comfortable working remotely while collaborating across distributed teams

Working knowledge of SQL, Metabase, or similar reporting and data analysis tools.

Proficiency with Microsoft Office and Google Workspace

Adaptability to evolving regulatory requirements and business priorities

Possess the Securities Industry Essentials (SIE) Exam and Series 99 license (or higher), or obtain the Series 99 within 180 days of hire

We Value Team Members Who

Stay Curious by continuously learning and seeking opportunities to improve

Have Empathy when collaborating with teammates, clients, and partners

Are Accountable by taking ownership of outcomes and following through on commitments

Who You Might Be (Nice-to-Haves):

Associate's or Bachelor's degree in Business, Finance, Accounting, Economics, or a related discipline

Five or more years of experience in brokerage operations, reconciliation, settlements, accounting, banking, or financial services

Experience with DTCC U.S. equity settlement processing

Knowledge of tokenized securities or digital asset settlement

Experience using AI-powered productivity tools (Cursor, ChatGPT, GitHub Copilot) to automate workflows or enhance data analysis

Experience supporting automation initiatives in partnership with Engineering teams.

Series 7 or additional FINRA licenses

Experience working within a high-growth fintech or electronic brokerage environment