What are the responsibilities and job description for the Settlements Specialist position at Wedbush Securities?
Wedbush Securities is one of the largest securities firms and investment banks in the nation. We provide innovative financial solutions through our Wealth Management, Capital Markets, Futures and Advanced Clearing & Prime Services divisions. Headquartered in Los Angeles, California with over 100 offices and more than 80 correspondent offices, our commitment to providing relentless, customized service is the foundation of our consistent growth.
We are currently seeking to hire a Settlements Specialist based out of our Jersey City office. The Specialist is responsible for providing clearance and settlement services for all broker-to-broker equities, corporate bonds, municipal debt securities, and government bonds.is primarily responsible for trade confirmation, allocations, and settlement. This requires an understanding of the trade lifecycle, trade confirmations/affirmations, trade cancellation and corrections, and block order allocations.
Responsibilities include, but are not limited to:
- Balance and report the department's suspense accounts to Regulatory Accounting and ensures compliance with all prescribed internal policies and regulatory practices
- Issue Stock Loan Recall and executes buy-ins in a timely manner in accordance with regulatory practices
- Review and analyze CNS Fails to be in compliance with regulatory guidelines
- Facilitate Fully Paid Lending (FPL) requests for new loans and returns of shares
- Maintain and balance all FPL positions, account balances and market values
- Issue and respond to Non-CNS (Broker-to-broker)
- Facilitate the matching, pair off, and buy-ins of broker-to-broker ex-clearing trades and provides contra brokers with the ability to track, manage their failed obligations, and contact them to resolve their settlement problems
- Track open obligations in the Obligation Warehouse system, until all those obligations are settled, cancelled or otherwise closed in the system
- Initiate and coordinate with Client Settlement the processing of Physical trade settlement
- Review and analyze the Possession and Controls (15c3-3) deficits and provides appropriate actions to clear these items
- Perform other duties as required and assigned
Experience and Skills:
- Bachelor's degree from an accredited University, or equivalent experience
- Proficient in Microsoft Office (Outlook, Word, Excel, PowerPoint)
- Organized, detail oriented, and ability to prioritize daily work flow
- Strong analytical, problem-solving, and critical-thinking skills
- Strong collaboration and team building skills
- Strong verbal and written communication skills
- Excellent customer service skills
- Ability to be resourceful and work independently while keeping focus on the group’s strategic initiatives
What Wedbush Offers You
As part of our overall compensation package, Wedbush Securities offers an array of diverse benefits to all our colleagues. We believe that providing competitive benefit options yields the advantageous reward of establishing a healthy and inclusive foundational work culture.
- Comprehensive medical, dental, and vision coverage with multiple health plan options for you and your family
- Health Savings Account with company-sponsored contributions
- Flexible Spending Accounts (FSA) traditional and dependent care
- Pre-Tax Commuter Benefits
- 401(k) plan with discretionary, competitive company matching and profit-sharing contributions
- Tuition reimbursement up to $5,250/year
- 3 weeks of Paid Time Off
- 2 weeks of Paid Sick Time (may vary by location)
- 10 Paid Holidays
- Charitable Donation Matching Contributions
- Paid Leave (Military, Jury Duty, Volunteer Time Off, Disability, etc.)
- FINRA License Sponsorship
- Travel & Employee Assistance and Employee Discount Programs
The reasonable estimate of the compensation range for this role has not been adjusted for the applicable geographic location. A reasonable estimate of the current hiring range is $60,000-$65,000. At Wedbush, it is not typical for an individual to be hired at, or near, the top of the range for their role. Decisions regarding compensation are determined on a case-by-case basis and are dependent on a variety of factors including but not limited to skill sets; experience and training; licensure and certifications; and other business and organizational needs.
Wedbush Securities (WS) is proud to be an Equal Employment Opportunity employer. WS does not discriminate based on race, religion, color, creed, sex, sexual orientation, gender, gender identity or expression, national origin, ancestry, citizenship status, registered domestic partner status, uniform service member status, marital status, pregnancy, age, medical condition, disability, genetic information, family care or medical leave status, or any other consideration made unlawful by applicable federal, state, or local laws, or on the basis that an applicant or Colleague is perceived to have these characteristics or is associated with someone who is perceived to have these characteristics. WS aims to foster a culture of inclusion where all Colleagues are valued for their unique contributions to the firm as well as provided equal opportunities to succeed
From: Wedbush Securities
Salary : $60,000 - $65,000
