Asset Clearing Services
September 27, 2021
Asset Clearing Services
Job Locations US-TX-Westlake
Requisition ID 2021-74715 Posted Date 11 hours ago (9/27/2021 10:05 AM) Category Operations Position Type Full time
The Asset Clearing Services Rep focuses on the reconciliation and clearing of fails between brokers due to trades or transfers. In addition, reps will be asked to initiate transfers of client accounts based on requests received from clients and internal business partners. Reps will be expected to interact with multiple external business partners, like contra brokers or custodians like DTC. An Asset Clearing Rep will assist Retail, Institutional, the Branch Network, as well as our reporting partners in Ops Control and Finance.
What you are good at
• Reconcile fails to receive or deliver with contra brokers
• Process entries in the back-office system, impacting client and broker accounts
• Provide updates on inquiries to reporting business partners with regards to FINRA regulations
• Processing of DWAC and DTC transfers based on client or advisor requests
• Advocate for the client’s best interest while balancing risk to the firm
• Provide information to assist representatives with Settlements-related inquiries
• Work with external business partners such as DTC, Bank of New York, Bank of America Merrill Lynch, and contra brokers
• Participate in process-improvement initiatives, some of which will include end-user computing solutions or the Settlements Whole team
What you have
• Ability to understand and apply Securities Industry rules and regulations
• Previous Securities background and trading, preferred
• Prior processing experience in a back-office setting a plus
• Ability to apply analytical skills for effective problem solving towards the goal of continuous improvement
• 2 Year College Degree or equivalent experience
• Military education or experience may be considered in lieu of civilian requirements listed
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