Clearing Operations Associate - Corporate Actions - Overnight 2AM - 11AM EST

About the role

This role involves being the primary processor for domestic and international corporate actions, including distributions, reorganizations, and redemptions across equities, fixed income, and options. The associate will ensure the accuracy of corporate action event details before posting to customer accounts, which is critical for minimizing risk and potential firm exposure. Success in this position means consistently accurate processing and reconciliation.

A key part of the job is daily interaction with external vendors and custodians such as DTC, OCC, BNY, and ICE to verify event and allocation details. The associate is also responsible for balancing and reconciling all booked corporate actions against corresponding suspense and wash accounts, ensuring daily balance. This requires diligent research into any discrepancies to prevent them from becoming aged issues.

Beyond processing, the associate will act as a subject matter expert for corporate actions, supporting internal departments and external partners. This includes responding to inquiries and handling voluntary corporate action requests. The role also involves enhancing existing procedures, incorporating new tasks and asset classes, and assisting with automation efforts for daily self-clearing processes, often collaborating with engineering teams.

The salary for this role is listed between $60,000 and $100,000 USD.

Skills that matter here

• Corporate Actions: This is the primary focus of the role, involving processing and reconciling various event types like distributions and reorganizations.
• DTC Corporate Action Web: Direct experience with this platform is a mandatory requirement for managing corporate action events.
• Reconciliation: A core responsibility involves balancing all booked corporate actions against suspense and wash accounts daily.
• Clearing Operations: The role requires a general understanding of U.S. securities back office operations within a clearing firm.
• SQL: Basic knowledge of SQL, Metabase, or similar database coding languages is needed for data interaction.
• Overnight Shift: The position requires working an overnight schedule, specifically from 2 AM to 11 AM EST.

Who this role suits

• Someone who thrives on meticulous detail and accuracy in financial processing.
• An individual capable of working independently in a remote, fast-paced environment while managing multiple priorities.
• A professional who can adapt to changing financial regulations and learn new areas within clearing operations.
• A candidate with strong communication skills to interface with vendors and serve as a subject matter expert.

From the employer

Your Role:

Our clearing back office team at Alpaca is looking for a Corporate Actions Associate to process and reconcile domestic and international corporate actions. In this role you will be the primary processor for distributions, reorganizations, and redemptions for all asset types supported by the broker dealer including equities, fixed income, and options.

Things You Get To Do:

• Primary owner and processor for distributions (dividends, interest, etc), reorganizations (reverse splits, mergers, etc.), and redemptions (maturities, calls, etc).
• Review and validate corporate action event details with rigorous attention to accuracy before posting to customer accounts, minimizing risk of errors and potential firm exposure.
• Interface daily with external vendors and custodians (DTC, OCC, BNY, ICE) to confirm accuracy of event and allocation details.
• Balance and reconcile all corporate actions booked versus the corresponding suspense and wash accounts. Ensure the corporate action house accounts are balanced daily.
• Research breaks and open items to ensure they do not become aged.
• Serve as the subject matter expert (SME) for corporate actions for internal departments and external partners.
• Respond to corporate action related Zendesk tickets and handle voluntary corporate action requests.
• Enhance and iterate on procedures to incorporate new tasks, asset classes, and other processes.
• Assist on automation of daily self-clearing processes collaborating with engineering.
• Stay curious! Learn other areas in the clearing space to assist in downtime.

Who You Are (Must-Haves):

• 3+ years of Corporate Actions experience
• Direct DTC Corporate Action Web experience
• Knowledge of ICE CA data, BNY processing, OCC Option CA process
• Knowledge of Brokerage Clearing operations. Possess general knowledge of U.S. securities back office operations of a clearing firm
• Knowledge of the Financial industry rules, regulations and laws
• Ability to work independently in a remote environment with attention to detail as well as collaboratively within a team environment
• Ability to work independently in a fast-paced environment with multiple priorities
• Have basic knowledge of SQL, metabase, or other database coding language
• Easily adapt between Microsoft and Google document and spreadsheet solutions
• Must be able to change and adapt to the ever-changing regulatory landscape of the financial industry and be able to assist other functional areas when necessary
• Possess a FINRA SIE or within first 180 days of employment
• Must be able to follow company tenets of:
• Stay Curious
• Have Empathy
• Be Accountable

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

• Associate’s degree in a business-related field and a minimum of five (5) years of experience in the areas of Corporate Actions, cash and securities reconciliation, accounting, banking, and/or financial services industry.
• Series 7
• Experience processing CA on DTCC's portal
• Experience with Slack

How We Take Care of You:

• Competitive Salary & Stock Options
• Health Benefits
• New Hire Home-Office Setup: One-time USD $500
• Monthly Stipend: USD $150 per month via a Brex Card

Alpaca is proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse workforce.