Job Description

Overview:
Monitor the activities of all Domestic, Foreign and U.S Treasury and Agency transactions to ensure efficient and effective business operations, compliance with firm’s policies and procedures, and risk management supervision. Additionally, this individual is responsible for the completion of assigned goals, objectives and departmental development.
The settlements unit is responsible for the total administration and activity affecting the firm's correspondent and customer stock record positions. This would include monitoring fail reports, supporting stock loan activity, reviewing and resolving aged fails. In addition, maintaining the appropriate documentation and procedures to ensure compliance with legal, regulatory and corporate requirements. The individual in this position must be familiar with securities industry rules and regulations pertaining to this area. This person should have an in depth knowledge of the various security instruments (both domestic and foreign). This individual will be communicating with depositories, other broker/dealers, correspondent firms and regulatory contacts. This individual will be responsible for staff training, development, and directing work flow to ensure all procedures and risk management processes are complete. In addition, this individual will assist in the development of MIS reporting which monitors and measures staff activities.

Responsibilities:
Review and monitor all fail reports.
Review and monitor DTC, BONY and CNS breaks, if applicable.
Review, monitor and resolve aged fails.
Review and monitor off premise settlement activity.
Review, monitor and be responsible for all daily funding/balancing activity.
Review and monitor error accounts and write off reports.
Research and respond to correspondent inquiries and expedite problem resolutions.
Support correspondent relations by utilizing good customer service skills.
Participate in the research of and response to BETA Systems enhancements and modifications.
Ensure that all policies and procedures are current and adhered to.

Experience:
3-5 years of experience in the securities industry (brokerage operations) with focus in settlements.
Thorough understanding of NASD and SEC rules and regulations, particularly 15c3-1 and 15c3-3.
Knowledge of BETA Systems, DTCC PTS systems, and BONY Inform.
Aptitude for detail and general accounting skills.
Ability to handle and monitor multiple tasks and projects.
Strong verbal and written communication skills.
Sound customer service skills.
Strong PC skills including Microsoft Word and Excel.

Candidates interested in applying to this role should e-mail 96t234@brokeragejobs.com.