Settlements Specialist at TechSpeed Clearing LLC
FINTEX FINANCIAL INC, Addison, TX, United States
Benefits
401(k)
Competitive salary
Health insurance
Paid time off
Department: Clearing Operations / Settlements
Reports To: Settlements Manager or Clearing Operations Director
Employment Type: Full‑Time
Location: Dallas, TX
Position Summary The Settlements Specialist is a core member of the Clearing Operations team responsible for ensuring the accurate and timely settlement of all securities transactions across equities, fixed income, options, and other supported asset classes. This role mitigates financial, operational, and counterparty risk by overseeing the full post‑trade lifecycle—from trade validation and affirmation to settlement finality—while coordinating closely with clearinghouses (DTC/NSCC/OCC), custodians, introducing broker‑dealers, counterparties, and internal teams.
The Settlements Specialist is expected to maintain a high level of accuracy, operate expertly under time‑critical conditions, and serve as a subject‑matter expert (SME) in T+1/T+2 settlement cycles, market deadlines, regulatory requirements, reconciliation controls, and exception management. The position plays a key role in safeguarding firm and customer assets through strong knowledge of clearing operations, settlement mechanics, industry utilities, and regulatory rules.
Key Responsibilities Trade Settlement Processing
Ensure accurate, timely settlement of trades across equities, fixed income, ETFs, and options.
Review trade files for completeness and accuracy before settlement allocation.
Process and reconcile trades through DTC, NSCC, and OCC systems.
Validate settlement instructions, counterparty details, and account data prior to release.
Coordinate with counterparties to ensure confirms, allocations, and trade affirmations are completed on deadline.
Exception Management & Break Resolution
Investigate and resolve trade discrepancies including mismatched quantities, prices, CUSIPs, or counterparties.
Manage “DKs” (Don’t Knows), unmatched trades, and settlement fails through proactive communication.
Partner with introducing broker‑dealers to correct booking errors or repair trade details.
Track and clear settlement fails per regulatory timelines, including buy‑ins and obligations under T+1/T+2 frameworks.
Document all exceptions and escalation paths for compliance and audit readiness.
Cash & Position Reconciliations
Perform daily reconciliations between internal books, DTC/NSCC/OCC, and custodians.
Identify position differences, cash breaks, and settlement variances; resolve within defined SLAs.
Monitor free‑credit balances, margin impacts, settlement‑related debits/credits, and liquidity implications.
Support end‑of‑day close processes and ensure accurate ledger posting.
Regulatory & Risk Controls
Adhere to SEC, FINRA, and clearinghouse rules related to trade settlement, buy‑ins, delivery obligations, and asset protection.
Ensure compliance with Rule 15c3‑3, 15c3‑1, and industry guidance on settlement‑cycle risk management.
Maintain documentation and support internal audits, regulatory exams, and operational risk assessments.
Execute operational controls designed to prevent settlement exposure or client harm.
Client & Counterparty Interaction
Act as a primary point of contact for introducing broker‑dealers regarding settlement inquiries.
Communicate settlement status, exceptions, deadlines, and funding requirements.
Assist clients with understanding settlement mechanics, counterparty obligations, and fail risk.
Liaise with market counterparties, custodians, and clearinghouses to ensure smooth settlement workflows.
Operational Technology & Data Integrity
Utilize clearing and settlement systems such as DTC Settlement Web, NSCC RTTM, OCC systems, Broadridge, FIS, BETA, Pershing platforms, Proprietary OMS/Clearing systems.
Validate trade feeds, data interfaces, and reconciliations from upstream systems.
Assist with system enhancements, process automation, and workflow improvements.
Participate in UAT for new settlements tools, entitlement/position engines, and system upgrades.
Cross‑Functional Coordination
Work with Margin, Risk, Corporate Actions, Compliance, and Finance teams to manage trade impacts.
Coordinate with the Corporate Actions team when events affect settlement (e.g., splits, mergers).
Support New Account, Onboarding, and Relationship teams with operational setup and education.
Assist in the implementation of new asset classes or product types.
Required Qualifications
Bachelor’s degree in Finance, Business, Accounting, Economics, or related field (or equivalent hands‑on experience).
2–5 years of experience in settlements, clearing operations, custody operations, or broker‑dealer operations.
Strong understanding of post‑trade workflows, settlement cycles, fail management, and market deadlines.
Familiarity with DTC, NSCC, OCC, custodian processes, and standard industry messaging formats.
Proficiency with Excel (including pivot tables, VLOOKUP, matching tools) and trade‑support software.
Preferred Licenses & Certifications
FINRA Series 99 (Operations Professional) — strongly preferred.
Series 7 — helpful for deeper product knowledge.
DTCC/NSCC/OCC training certificates (optional but valuable).
Core Competencies
Excellent analytical and reconciliation skills.
Strong attention to detail and commitment to accuracy.
Ability to perform well under time‑sensitive conditions.
Strong communication and relationship‑building skills with clients and counterparties.
Ownership mindset: ability to elevate risk and prevent settlement exposure.
Adaptability and comfort navigating evolving regulatory and operational environments.
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401(k)
Competitive salary
Health insurance
Paid time off
Department: Clearing Operations / Settlements
Reports To: Settlements Manager or Clearing Operations Director
Employment Type: Full‑Time
Location: Dallas, TX
Position Summary The Settlements Specialist is a core member of the Clearing Operations team responsible for ensuring the accurate and timely settlement of all securities transactions across equities, fixed income, options, and other supported asset classes. This role mitigates financial, operational, and counterparty risk by overseeing the full post‑trade lifecycle—from trade validation and affirmation to settlement finality—while coordinating closely with clearinghouses (DTC/NSCC/OCC), custodians, introducing broker‑dealers, counterparties, and internal teams.
The Settlements Specialist is expected to maintain a high level of accuracy, operate expertly under time‑critical conditions, and serve as a subject‑matter expert (SME) in T+1/T+2 settlement cycles, market deadlines, regulatory requirements, reconciliation controls, and exception management. The position plays a key role in safeguarding firm and customer assets through strong knowledge of clearing operations, settlement mechanics, industry utilities, and regulatory rules.
Key Responsibilities Trade Settlement Processing
Ensure accurate, timely settlement of trades across equities, fixed income, ETFs, and options.
Review trade files for completeness and accuracy before settlement allocation.
Process and reconcile trades through DTC, NSCC, and OCC systems.
Validate settlement instructions, counterparty details, and account data prior to release.
Coordinate with counterparties to ensure confirms, allocations, and trade affirmations are completed on deadline.
Exception Management & Break Resolution
Investigate and resolve trade discrepancies including mismatched quantities, prices, CUSIPs, or counterparties.
Manage “DKs” (Don’t Knows), unmatched trades, and settlement fails through proactive communication.
Partner with introducing broker‑dealers to correct booking errors or repair trade details.
Track and clear settlement fails per regulatory timelines, including buy‑ins and obligations under T+1/T+2 frameworks.
Document all exceptions and escalation paths for compliance and audit readiness.
Cash & Position Reconciliations
Perform daily reconciliations between internal books, DTC/NSCC/OCC, and custodians.
Identify position differences, cash breaks, and settlement variances; resolve within defined SLAs.
Monitor free‑credit balances, margin impacts, settlement‑related debits/credits, and liquidity implications.
Support end‑of‑day close processes and ensure accurate ledger posting.
Regulatory & Risk Controls
Adhere to SEC, FINRA, and clearinghouse rules related to trade settlement, buy‑ins, delivery obligations, and asset protection.
Ensure compliance with Rule 15c3‑3, 15c3‑1, and industry guidance on settlement‑cycle risk management.
Maintain documentation and support internal audits, regulatory exams, and operational risk assessments.
Execute operational controls designed to prevent settlement exposure or client harm.
Client & Counterparty Interaction
Act as a primary point of contact for introducing broker‑dealers regarding settlement inquiries.
Communicate settlement status, exceptions, deadlines, and funding requirements.
Assist clients with understanding settlement mechanics, counterparty obligations, and fail risk.
Liaise with market counterparties, custodians, and clearinghouses to ensure smooth settlement workflows.
Operational Technology & Data Integrity
Utilize clearing and settlement systems such as DTC Settlement Web, NSCC RTTM, OCC systems, Broadridge, FIS, BETA, Pershing platforms, Proprietary OMS/Clearing systems.
Validate trade feeds, data interfaces, and reconciliations from upstream systems.
Assist with system enhancements, process automation, and workflow improvements.
Participate in UAT for new settlements tools, entitlement/position engines, and system upgrades.
Cross‑Functional Coordination
Work with Margin, Risk, Corporate Actions, Compliance, and Finance teams to manage trade impacts.
Coordinate with the Corporate Actions team when events affect settlement (e.g., splits, mergers).
Support New Account, Onboarding, and Relationship teams with operational setup and education.
Assist in the implementation of new asset classes or product types.
Required Qualifications
Bachelor’s degree in Finance, Business, Accounting, Economics, or related field (or equivalent hands‑on experience).
2–5 years of experience in settlements, clearing operations, custody operations, or broker‑dealer operations.
Strong understanding of post‑trade workflows, settlement cycles, fail management, and market deadlines.
Familiarity with DTC, NSCC, OCC, custodian processes, and standard industry messaging formats.
Proficiency with Excel (including pivot tables, VLOOKUP, matching tools) and trade‑support software.
Preferred Licenses & Certifications
FINRA Series 99 (Operations Professional) — strongly preferred.
Series 7 — helpful for deeper product knowledge.
DTCC/NSCC/OCC training certificates (optional but valuable).
Core Competencies
Excellent analytical and reconciliation skills.
Strong attention to detail and commitment to accuracy.
Ability to perform well under time‑sensitive conditions.
Strong communication and relationship‑building skills with clients and counterparties.
Ownership mindset: ability to elevate risk and prevent settlement exposure.
Adaptability and comfort navigating evolving regulatory and operational environments.
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