Brokerage Clearing Specialist, Purchase & Sales Operations
The Brokerage Clearing Specialist in Purchase & Sales Operations at DriveWealth plays a pivotal role in ensuring the accurate processing, reconciliation, and settlement of trades across various asset classes, with a primary focus on equities. This position is integral to maintaining the integrity of trade confirmations and supporting regulatory reporting requirements within the company's dynamic operational framework.
Key responsibilities include reviewing, matching, and confirming trade data from executing brokers and counterparties, processing equity and fixed income trade activities through the firm's clearing and settlement systems, and ensuring the accuracy of trade details such as price, quantity, counterparty, and trade date. The specialist is also tasked with investigating and promptly resolving trade discrepancies, liaising with traders, prime brokers, custodians, and counterparties to address Purchase & Sales issues, and ensuring compliance with regulatory guidelines set forth by entities like the SEC, FINRA, and DTCC.
Candidates should possess a minimum of two years of experience in the Purchase & Sales department of a broker-dealer, with specialized knowledge in equity and option products. Familiarity with REGSHO rules, reconciliation of equity trade breaks in CNS, and monitoring of the Obligation Warehouse with corrective actions are essential. A Series 7 license is required, along with proficiency in industry utilities and platforms such as DTCC, NSCC, TRAQS, NASDAQ WORKX, and TRAFIX.
DriveWealth offers a competitive compensation package, with an annual salary ranging from $115,000 to $125,000, based on experience and technical qualifications. Benefits include comprehensive medical, dental, and vision insurance options, mental health resources, generous paid time off with observed holidays, paid parental leave, and allowances for continued education and personal development. Additional perks encompass fitness and wellness reimbursements, a company-provided phone, and a hybrid work experience that allows for flexibility.
The company fosters a culture that blends the agility of a fintech startup with the stability and discipline of Wall Street. Employees are encouraged to engage in creative problem-solving and experimentation while adhering to institutional-grade execution and regulatory compliance. DriveWealth values diversity and inclusion, celebrating the unique differences of its employees as the organization scales and grows together. The company is guided by operating principles grounded in accountability, teamwork, integrity, and solutions built to scale, offering ample opportunities for professional growth and development.