Global Settlements Associate 1

About the role

This role focuses on the end-to-end global equity settlement process. You will work with custodians, counterparties, and internal teams to ensure transactions are settled accurately and on time across multiple international markets. Daily tasks include monitoring settlement activity, identifying at-risk transactions, and resolving exceptions. Success in this area means proactively managing potential failures and coordinating remediation efforts.

A key part of the position involves managing trade exceptions, investigating mismatches related to settlement instructions, quantities, prices, and allocation issues. You will collaborate with trading, finance, and compliance teams to resolve these issues promptly. Additionally, you will perform daily reconciliations of securities positions and cash balances across various global markets and currencies, ensuring all discrepancies are researched and resolved.

Beyond daily operations, this role contributes to operational risk management and regulatory compliance, ensuring processes meet SEC and FINRA regulations. You will also identify operational risks and assist with audits. The position involves reporting on settlement activity and identifying trends to recommend process improvements, including partnering with engineering to automate manual workflows using tools like SQL and AI.

The salary for this position ranges from $105,000 to $175,000 annually.

Skills that matter here

• Brokerage operations: This role requires experience supporting brokerage operations, specifically focusing on global equity settlements.
• Global settlements: A primary responsibility is owning the end-to-end global equity settlement process across international markets.
• Securities settlement: The position involves a strong understanding of the securities settlement lifecycle within a broker-dealer context.
• Cash reconciliation: You will perform daily reconciliations of cash balances across multiple global markets and currencies.
• SQL: Working knowledge of SQL is needed to enhance operational efficiency and analytics.
• Series 99 license: Possession of a Series 99 license (or higher) is required, or the ability to obtain it within 180 days of hire.

Who this role suits

• Someone with a meticulous approach to detail, capable of managing multiple priorities independently.
• An individual who thrives in a fast-paced environment and can adapt to evolving regulatory requirements.
• A person who enjoys investigating complex issues and collaborating with various internal and external stakeholders to find resolutions.
• Someone comfortable working remotely and contributing to process improvements through data analysis and automation.

From the employer

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.

Must-Haves

• 2+ 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.

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.