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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.