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Fintex Financial

9 jobs near Columbus, OH

Settlements Specialist at TechSpeed Clearing LLC

FINTEX FINANCIAL INC

Addison, TX

Full-time

Medical, Retirement, PTO

Posted 3 days ago

Job description

Benefits:
  • 401(k)
  • Competitive salary
  • Health insurance
  • Paid time off

Department: Clearing Operations / Settlements
Reports To: Settlements Manager or Clearing Operations Director
Employment Type: FullTime
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 posttrade lifecyclefrom trade validation and affirmation to settlement finalitywhile coordinating closely with clearinghouses (DTC/NSCC/OCC), custodians, introducing brokerdealers, counterparties, and internal teams.
The Settlements Specialist is expected to maintain a high level of accuracy, operate expertly under timecritical conditions, and serve as a subjectmatter 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 (Dont Knows), unmatched trades, and settlement fails through proactive communication.
  • Partner with introducing brokerdealers to correct booking errors or repair trade details.
  • Track and clear settlement fails per regulatory timelines, including buyins 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 freecredit balances, margin impacts, settlementrelated debits/credits, and liquidity implications.
  • Support endofday close processes and ensure accurate ledger posting.
4. Regulatory & Risk Controls
  • Adhere to SEC, FINRA, and clearinghouse rules related to trade settlement, buyins, delivery obligations, and asset protection.
  • Ensure compliance with Rule 15c33, 15c31, and industry guidance on settlementcycle 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 brokerdealers 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. CrossFunctional 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
  • Bachelors degree in Finance, Business, Accounting, Economics, or related field (or equivalent handson experience).
  • 25 years of experience in settlements, clearing operations, custody operations, or brokerdealer operations.
  • Strong understanding of posttrade 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 tradesupport 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 timesensitive conditions.
  • Strong communication and relationshipbuilding skills with clients and counterparties.
  • Ownership mindset: ability to escalate risk and prevent settlement exposure.
  • Adaptability and comfort navigating evolving regulatory and operational environments.