OPERATIONS SPECIALIST (SETTLEMENTS & BUY-INS)

PEAK6 - Austin, TX

Full-time - Entry Level

Remote - Austin, TX

Professional, Scientific, and Technical Services

About the position

Apex Fintech Solutions (AFS) is seeking a motivated self-starter to join our expanding Operations team as an Operations Specialist (Settlements & Buy-Ins). In this role, you will be responsible for executing critical market-related and client-reporting functions that are essential to the smooth operation of our services. You will support the Settlements & Buy-Ins team by performing a variety of risk and regulatory duties, ensuring that all processes align with industry standards and regulatory requirements. This position offers a unique opportunity to contribute to Apex's core products for our introducing broker-dealers, making a significant impact in a fast-paced and entrepreneurial environment. Your primary responsibilities will include overseeing the daily settlement of domestic and international securities transactions, ensuring that all trades are processed accurately and timely in accordance with market deadlines. You will manage the buy-in process for failed trades, which involves identifying failed trades, issuing buy-in notices, and ensuring execution within regulatory timeframes. As the primary point of contact for clients regarding settlement and buy-in inquiries, you will provide prompt and professional resolutions to any issues that arise. Additionally, you will perform daily reconciliations of settlement activities to identify and resolve discrepancies between internal records and custodial accounts. Compliance and risk management will be a key focus, as you will ensure that all activities adhere to industry regulations and internal policies while identifying potential risks and implementing measures to mitigate them. Collaboration with other departments will be essential to maintain a cohesive operational environment, and you will prepare and distribute regular reports on settlement performance and buy-in activities to management and clients. Continuous evaluation and enhancement of settlement and buy-in processes will also be part of your responsibilities, aimed at improving efficiency and reducing operational risk.

Responsibilities

• Oversee the daily settlement of domestic and international securities transactions, ensuring accurate and timely processing.
• Manage the buy-in process for failed trades, including identifying failed trades and issuing buy-in notices.
• Act as the primary point of contact for clients regarding settlement and buy-in inquiries, providing prompt resolutions.
• Perform daily reconciliations of settlement activities to identify and resolve discrepancies.
• Ensure all settlement and buy-in activities adhere to industry regulations and internal policies.
• Identify potential risks and implement measures to mitigate them.
• Collaborate with other departments to ensure a cohesive operational environment.
• Prepare and distribute regular reports on settlement performance and buy-in activities to management and clients.
• Continuously evaluate and enhance settlement and buy-in processes to improve efficiency.

Requirements

• A bachelor's degree in business, finance, or a related field is preferred, or equivalent combination of relevant education and experience.
• 3+ years of experience in the financial industry, preferably in roles related to securities processing, brokerage operations, or broker-dealer operations.
• 1 - 2 years of Settlements & Buy-ins experience is preferred.
• FINRA SIE and Series 99 Licenses required (or willingness to obtain); FINRA Series 7 preferred.
• Ability to make independent risk-based decisions and escalate appropriately.
• Excellent verbal and written communication skills, with the ability to adapt messaging based on the audience.
• Strong data gathering and analysis skills, utilizing reports, spreadsheets, and software tools (Microsoft 365, SQL, etc.).
• Strong knowledge of core brokerage operations functions.

Nice-to-haves

• Experience with SQL and data analysis tools.
• Familiarity with regulatory requirements in the financial industry.

Benefits

• 401(k) matching
• Dental insurance
• Employee assistance program
• Health insurance
• Health savings account
• Paid time off
• Parental leave