What are the responsibilities and job description for the DTCC Settlements Associate position at WhiteCap Search?
Our client is seeking an experienced Senior Associate - DTCC Settlements Specialist to join its Domestic Back Office Settlements team. This is an excellent opportunity for a highly skilled securities operations professional with extensive DTCC settlement experience to support high-volume domestic fixed income and equity trading operations.
The successful candidate will play a critical role in ensuring the timely and accurate settlement of securities transactions while working closely with Front Office, Middle Office, and Operations teams in a fast-paced, deadline-driven environment.
Key Responsibilities- Process domestic securities transactions through the DTCC settlement system.
- Execute cash trade settlements for purchases and sales of corporate bonds, equities, and U.S. Treasury fixed income securities.
- Process repo (repurchase agreement) transactions clearing through DTCC.
- Process Deliver Orders (DOs) to settle securities transactions.
- Process Securities Payment Orders (SPOs) to collect marks-to-market and money differences on open contracts.
- Monitor and process customer pair-offs, including cancellation and retransmission of trades through DTCC to facilitate wire payments.
- Perform daily reconciliation of securities positions and cash movements between DTCC and the FIS Phase3 system.
- Investigate and resolve settlement discrepancies, unmatched trades, and operational exceptions.
- Process collateral movements through the DTCC collateral loan system.
- Pledge securities to the Options Clearing Corporation (OCC) to satisfy margin requirements.
- Manage customer fully paid securities using segregation and memo segregation procedures.
- Contact counterparties to confirm pending and unmatched trades to ensure timely settlement.
- Process TMPG claims in accordance with established industry guidelines.
- Collaborate with Front Office, Middle Office, and Operations teams to resolve settlement issues and meet daily processing deadlines.
- 5 years of experience in domestic securities settlements or back-office securities operations.
- Strong working knowledge of the DTCC Portal and all DTCC settlement functionality.
- Extensive hands-on experience with the Participant Terminal System (PTS).
- Experience processing TMPG Claims.
- Solid understanding of domestic settlement processing for:
- Corporate Bonds
- Equities
- U.S. Treasury Fixed Income products
- Experience processing:
- Cash trades
- Repo transactions
- Deliver Orders (DOs)
- Securities Payment Orders (SPOs)
- Customer pair-offs
- Strong reconciliation experience involving securities positions and cash movements.
- Ability to manage multiple priorities in a high-volume, deadline-driven environment.
- Excellent analytical, organizational, and communication skills.
- Experience with the FIS Phase3 platform.
- Previous experience within a broker-dealer, investment bank, or financial services operations environment.
- Knowledge of collateral management and securities pledging processes
Salary : $65 - $75