Settlements Specialist at TechSpeed Clearing LLC

FINTEX FINANCIAL INC

Addison, TX

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JOB DETAILS

SKILLS

Acceptance Testing, Accounting, Accounting Close, Analysis Skills, Automation, Brokerage, Communication Skills, Corporate Compliance, Customer Support/Service, Customer/Client Research, Data Quality, Detail Oriented, Economics, Equity Securities, Finance, Financial Compliance, Financial Operations, Fixed Income Investments, Funding, Health Insurance, Industry Standards, Internal Audit, Liquidity, Loss Prevention, Maintain Compliance, Onboarding, Operational Audit, Pivot Tables, Reconciliation, Regulations, Regulatory Requirements, Risk, Risk Analysis, Risk Management, Securities and Exchange Commission (SEC), Series 7, Service Level Agreement (SLA), Software Administration, Support Documentation, Systems Administration/Management, Time Management, Trading/Stockbroking, Vlookups

LOCATION

Addison, TX

POSTED

30+ days ago

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
1. 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.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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 escalate risk and prevent settlement exposure.
Adaptability and comfort navigating evolving regulatory and operational environments.

About the Company

FINTEX FINANCIAL INC

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