What are the responsibilities and job description for the Specialist, Settlements 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.
Apply promptly! A high volume of applicants is expected for the role as detailed below, do not wait to send your CV.
We are currently seeking to hire a Settlements Specialist based out of our Los Angeles 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. This role primarily involves trade confirmation, allocations, and settlement, requiring an understanding of the trade lifecycle, trade confirmations / affirmations, trade cancellation and corrections, and block order allocations.
Responsibilities include, but are not limited to :
- Process and settle all DTC trades in a timely manner and ensure that all is reflected in the internal Phase 3 system.
- Ensure that all actions are SEC and FINRA rule compliant.
- Action RAD screen for incoming receives, compare to Phase 3 fail report, and approve items.
- Monitor RAD deliveries for outgoing unapproved; notify the appropriate team to contact the counterpart to approve delivery.
- Facilitate deliveries sent by email from middle office / front office as well as Trade support.
- Send / Receive SPO and reflect in Phase 3 accordingly.
- Confirm pair offs & partial on broker-to-broker & ex-clearing trades, reflecting on Phase 3.
- Investigate and resolve any discrepancies sent by other teams.
- Clean up manual fails including type 1 that do not auto settle.
- Perform end-of-day balancing VS DTC.
- Resolve all DTC suspense account breaks.
- Follow up on stock record breaks and resolve in order to balance to DTC positions.
- Perform other duties as required and assigned.
Experience and Skills
What We Offer
As part of the overall compensation package, Wedbush Securities (WS) offers an array of diverse benefits to our Colleagues.
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 range is $55,000-$70,000. Colleagues may be eligible for additional, discretionary incentive compensation based on the colleague's and the firm's performance. 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.
Wedbush uses E-Verify, an Internet-based system, to confirm the eligibility of all newly hired employees to work in the United States. Learn more about E-Verify, including your rights and responsibilities here https : / / www.e-verify.gov / employees / e-verify-overview.
J-18808-Ljbffr
Salary : $55,000 - $70,000
