What are the responsibilities and job description for the Brokerage Clearing Associate position at Stephens?
Key Responsibilities
General Operations Support:
General Operations Support:
- Sort and distribute or process departmental mail promptly, including checks, certified/registered mail, and FedEx deliveries.
- Receive checks both via mail and at the Customer Service Window.
- Scan and apply funds to the correct customer or firm accounts.
- Print checks processed in the LR Branch and prepare for mailing, branch pickup, or FedEx shipment.
- Image all documents into the firm’s online record retention system.
- Serve as a backup for other Retail Clearing Department functions.
- Primary contact for processing ACH and check requests received by email.
- Perform any other related tasks as assigned by management.
- Receive and review documentation for account transfer requests.
- Ensure all required information and supporting documents are complete and accurate.
- Initiate transfer requests and follow up on incomplete or delayed transfers.
- Assess requests for free delivery of securities to other broker-dealers.
- Confirm required signatures and approvals are in place.
- Initiate delivery requests in NetX360.
- Address inquiries regarding the withdrawal of securities and cash from customer margin accounts.
- Initiate cash and stock entries in margin accounts when necessary.
- Provide assistance to client associates on margin accounts, short sales, transfers, options, and other account-related matters.
- Monitor daily margin activity and NETX360-generated margin calls, sending notifications to account representatives and client associates.
- Associate’s degree in a related field.
- 2 years of related experience and/or training.
- Equivalent combination of education and experience.
- Microsoft Word
- Excel
- PowerPoint
- Alpha/Numeric Data Entry
- 10-Key