Brokerage Operations Associate Clearing Settlement

About Us

Alpaca is a US‑headquartered self‑clearing broker‑dealer and brokerage infrastructure provider serving stocks, ETFs, options, crypto, fixed income, and more. With over $320 million in total investment from Series D funding, our mission is to open financial services to everyone worldwide, backed by global investors such as Portage Ventures, Spark Capital, and Y Combinator. We operate a licensed financial services arm that serves hundreds of financial institutions across 40 countries, managing more than 9 million brokerage accounts.

This role focuses on money movements and ACAT transfers for a fully distributed, remote Fintech team, reporting directly to the Director of Operations.

• Ensure transactions are correctly recorded in proper systems to facilitate successful settlement.
• Investigate and resolve failing transactions.
• Process all eligible securities through the DTCC processing system, requiring thorough knowledge of the PTS system and related functionality.
• Settle securities transactions by processing deliver orders (DOs) on DTCC RAD.
• Collect marks‑to‑market on open contracts and money differences by processing Securities Payment Orders (SPOs).
• Pledge securities to pledgees for collateral via the collateral loan system.
• Protect customer fully‑paid‑for positions and manage firm positions using segregation and memo segregation procedures.
• Process ACAT free deliveries and fail reversals (FRVs).
• Investigate & resolve cash and stock reconciliation issues, addressing settlement discrepancies and engaging the Director of Brokerage Operations for prompt resolution.
• Adhere to all applicable rules, regulations, and procedures governing this role and organization, with awareness of operational risk.
• Review buy‑ins and maintain knowledge of REG SHO/15c3.
• Produce timely, quality, and relevant reporting, communicating amendments to policies and procedures.
• Verify and reconcile securities held at various depositories and transfer agents, and process & confirm fails within the Obligation Warehouse (OW) for settlement reconciliation with brokers.
• Create reports on money discrepancies between internal ledger and external platforms, ensuring reconciliations are accurate, complete, and resolved timely.
• Work with other internal teams to foster an environment of participation, teamwork, and communication.
• Ensure industry rules, regulations, and securities laws are adhered to for 15c3‑3, maintaining proper possession and control of customer securities.
• Maintain orderly and readily obtainable records for research and examination purposes.
• Prepare summary documentation/work papers for special projects/observations, submitting to management for review.
• Perform data collection and analysis to ensure regulatory compliance, testing controls to identify excessive operational risk or control problems early.
• Work cross‑functionally with staff to create efficient operational processes that avoid control and quality deficiencies.
• Escalate observations/issues to Management requiring attention to mitigate risk.
• Assist the Director in completing all internal audit and regulatory reviews for the operating group, ensuring findings are effectively resolved.
• Drive continuous operational improvement, updating the control framework and conducting root cause analysis and trend analysis of operational issues.
• Support business unit management with policy framework application, becoming a referral point for policy‑related queries.
• Assist on automation of daily self‑clearing processes in collaboration with engineering.
• Participate in projects as needed.
• Perform other duties and responsibilities as assigned.
• Core hours are 9 am–4 pm Eastern Time to follow market hours.

• 2+ years of Operations and DTCC Settlement experience.
• Knowledge of Brokerage Clearing operations.
• Knowledge of financial industry rules, regulations and laws.
• General knowledge of U.S. securities back‑office operations of a broker‑dealer and/or carrying firm.
• Ability to identify relationships, draw logical conclusions and interpret results for decision making.
• Excellent written and verbal communication skills.
• Ability to work independently with attention to…