Operations Clearing Associate

Prestigious financial services firm in Jacksonville, Florida seeks an Options Clearing Associate who will be responsible for the clearing and settlement processes for options contracts through the Options Clearing Corporation (OCC). This role involves ensuring the smooth execution of clearing activities, managing risk, and ensuring compliance with regulatory requirements in the options markets. The individual will work closely with internal teams, clearing members, and market participants to maintain efficient and accurate clearing operations.

Key Responsibilities:

Clearing & Settlement:

• Oversee the clearing of all options contracts through the OCC to ensure timely and accurate settlement of trades.
• Facilitate the reconciliation of trade details and settlement data to ensure discrepancies are addressed promptly.
• Ensure the accurate recording of positions, trades, and settlements in OCC systems.
• Work closely with brokers, traders, and clearing members to resolve any discrepancies related to clearing.

Risk Management & Margining:

• Assist in calculating margin requirements for options trades in accordance with OCC risk management policies.
• Monitor margin calls and ensure that collateral requirements are met for all open positions.
• Help with the implementation of margin and risk management strategies to minimize systemic risk.
• Review the daily risk reports and escalate any issues that might impact the clearing process or financial stability.

Reconciliation & Reporting:

• Perform regular reconciliations of trade data, settlement amounts, margin levels, and other critical information.
• Ensure all positions are accounted for, and daily/weekly/monthly reports are generated in compliance with regulatory standards.
• Provide reports to internal teams and regulatory bodies as required.

Regulatory Compliance & Documentation:

• Ensure compliance with OCC policies, SEC (Securities and Exchange Commission) regulations, and other financial regulations governing the clearing of options.
• Participate in audits, both internal and external, and prepare necessary documentation to facilitate the audit process.
• Work to ensure that the firm adheres to industry standards and practices, maintaining a strong regulatory framework.

Qualifications:

• Education: Bachelor’s degree in Finance, Business, Economics, or a related field.
• At least 5 years of experience in options clearing, securities operations, or related financial services.
• Knowledge of OCC clearing rules and options market structures.
• Familiarity with risk management practices, margin requirements, and settlement processes in the derivatives market.
• Previous experience working with clearing platforms, financial software, or clearing house systems is beneficial.
• Experience with clearing-related software (e.g., OCC’s clearing system, and margin management tools).
• Familiarity with trade reconciliation systems and back-office operations.
• Strong understanding of financial products, specifically options and derivatives.