Senior Settlements Analyst
Altruist is a fast growing fintech company that's transforming the financial advice industry. Our mission is to make financial advice better, more affordable, and accessible to everyone. We’re a modern custodian built exclusively for registered investment advisors (RIAs). As we disrupt legacy custodians and revolutionize the $100T RIA market, we're seeking exceptional individuals to join our team. If you embody our core values of kindness, brilliance, and grit, and are passionate about making a meaningful impact, we want to hear from you!
About the position
As Altruist enters an expansion phase for our revolutionary product offering, we’re seeking an experienced Clearing Operations Analyst to help position us for future growth and success.
As a Senior Clearing Operations Analyst will be responsible for the comparison and reconciliation of securities transactions with street side counterparties and settling those transactions timely and accurately while adhering to policies, procedures, and regulatory guidelines. (Please note: This role will be remote for the time being, but will eventually transition to an in office model.)
What you'll do
- Provide clearing back office support to investment advisors and their clients
- Support escalations to resolution and provide feedback to management and product partners for continuous improvement
- Reviews daily trade reports generated from the back-office clearing platform FIS/Phase 3 as well as external communications from counterparties, rectifying breaks and issues identified.
- Processes canceled & rebilled trade instructions received in FIS/Phase 3 system and provides oversight to the reversals and as/of transactions in DTCC’s Obligation Warehouse.
- Identifying, investigating, and resolving trade, cash, and position reconciliation issues to ensure transactions are correctly recorded in appropriate systems facilitating successful settlement
- Support Depository Trust and Clearing Corporation (DTCC) Settlement functions and related processes such as Buy-Ins and RECAPS.
- Review fail exposure & accurately report to senior regulatory management teams
- Reconcile daily possession and control issues
- Maintain excellent client service skills
- Adhere to all rules, regulations and procedures that govern this role and organization
- Be aware of Operational Risk and escalate to Manager at all times
- Other duties as assigned
What you’ll bring
- FINRA Series 99
- Expert knowledge with DTC, NSCC, Obligation Warehouse, SMART Track, and other DTCC suite applications
- Settlement, buy-in, fail control, and/or seg experience
- Exceptional communication skills with the ability to easily convey complex matters in an easy to understand manner
- Ability to build a team. Strong coaching skills
- Strong self-starter with ability to work independently
- Strong communication and analytical skills
- Ability to effectively prioritize and adapt to changing environment
- Able to multi-task and work under pressure
Nice to have
- FINRA Series 7
- Back Office System Knowledge
- Competitive salary and stock options
- Premium Healthcare, Dental, and Vision insurance plans
- Generous paid parental leave
- 401(k) savings plan with matching contributions
- Flexible paid time off
Total compensation includes a competitive benefits package along with equity in the form of Stock Options (ISOs). A salary offer will be determined by a number of factors including experience, skill level, internal pay equity, geographic location, and other relevant business considerations. We review all employee pay and compensation programs regularly to ensure fair, equitable, and competitive pay. At Altruist, we are committed to providing fair, equitable, and competitive compensation by leveraging market data to inform our pay bands. Base salaries will be reviewed at regular intervals throughout the year, typically in conjunction with performance review cycles. By evaluating compensation on a regular basis, we are able to reward high performance and ensure all employees have opportunities for growth.
Don’t meet every single requirement? Studies have shown that women and people of color are less likely to apply to jobs unless they meet every single qualification. At Altruist we are dedicated to building a diverse, inclusive, and authentic workplace, so if you’re excited about this role, but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyways. You may be just the right candidate for this or other roles.