Clearing Operations Associate

About the role

Alpaca is seeking a Corporate Actions Associate to join its clearing back office team. This role focuses on processing and reconciling corporate actions for various asset types, supporting overnight brokerage operations. The ideal candidate will manage distributions, reorganizations, and redemptions for equities, fixed income, and options.

Key facts

What you'll do

• Be the primary owner and processor for distributions like dividends and interest, reorganizations such as mergers, and redemptions including maturities.
• Carefully review and confirm corporate action event details for accuracy before posting to customer accounts, reducing error risk.
• Communicate daily with external vendors and custodians to verify event and allocation details.
• Balance and reconcile all booked corporate actions against corresponding suspense and wash accounts, ensuring daily balance of house accounts.
• Investigate and resolve breaks and open items to prevent them from aging.
• Act as the subject matter expert for corporate actions for both internal departments and external partners.
• Respond to corporate action-related support tickets and manage voluntary corporate action requests.
• Improve existing procedures to include new tasks, asset classes, and other processes.
• Help automate daily self-clearing processes by working with the engineering team.
• Learn other areas within the clearing space to provide assistance during slower periods.

Requirements

• At least 3 years of experience in Corporate Actions.
• Direct experience with DTC Corporate Action Web.
• Understanding of ICE CA data, BNY processing, and OCC Option CA processes.
• Knowledge of Brokerage Clearing operations and general U.S. securities back office operations for a clearing firm.
• Familiarity with financial industry rules, regulations, and laws.
• Ability to work independently in a remote setting with strong attention to detail, and also collaboratively in a team.
• Capable of working independently in a fast-paced environment with multiple priorities.
• Proficient in both Microsoft and Google document and spreadsheet solutions.
• Adaptable to changes in the financial industry's regulatory landscape and able to assist other functional areas when needed.
• Must hold a FINRA SIE or obtain it within the first 180 days of employment.
• Must be comfortable working a consistent 2:00am - 11:00am ET schedule.

Nice to have

• An Associate's degree in a business-related field.
• A minimum of five years of experience in Corporate Actions, cash and securities reconciliation, accounting, banking, or financial services.
• FINRA Series 7 certification.
• Experience processing Corporate Actions on DTCC's portal.
• Experience with Slack.

Skills & tools

• DTC Corporate Action Web
• ICE CA data
• BNY processing
• OCC Option CA process
• Microsoft Office Suite
• Google Workspace
• Zendesk
• Slack (nice to have)

Practical notes

This role offers a competitive salary and stock options. Health benefits are provided. New hires receive a one-time USD $500 for home-office setup and a monthly USD $150 stipend via a Brex Card. Alpaca is an equal opportunity workplace committed to diversity.