Senior Settlements Analyst

About the Role

At Altruist, we are actively transforming the multi-trillion dollar wealth management industry by building an AI platform for wealth professionals. We partner with financial advisors nationwide, empowering them to grow, optimize time and resources, and deliver superior outcomes for their clients. As we enter an expansion phase for our revolutionary product offering, we are seeking an experienced Senior Settlements Operations Analyst to help position us for future success and growth. If you are passionate about challenging the status quo and want to do the most important work of your life, we would love to meet you! Our operations are guided by the core values of Kindness, Brilliance, and Grit.

What You'll Do

The Senior Settlements Operations Analyst will be responsible for the comparison and reconciliation of securities transactions with street-side counterparties and settling those transactions timely and accurately while adhering to policies, procedures, and regulatory guidelines. In this critical role, you will serve as a key support resource for our investment advisors and their clients. The position involves managing the end-to-end settlement process, identifying and resolving discrepancies, and ensuring compliance with all regulatory requirements. You will be instrumental in maintaining the integrity and efficiency of our clearing operations.

• Provide comprehensive clearing back office support to investment advisors and their clients.
• Support escalations to resolution and provide actionable feedback to management and product partners for continuous improvement of our systems and processes.
• Review daily trade reports generated from the back-office clearing platform FIS/Phase 3, as well as external communications from counterparties, rectifying any breaks and issues identified.
• Handle P&L inquiries and corrections with a high degree of precision and timeliness.
• Process trade comparisons and corrections using the FIS/Phase 3 system, and perform comparison of fixed income trades in FICC CMU and the reporting of fixed income transactions in FINRA TRANCE and MSRB RTRS Web.
• Identify, investigate, and resolve trade, cash, and position reconciliation issues to ensure transactions are correctly recorded in appropriate systems, facilitating successful settlement.
• Support Depository Trust and Clearing Corporation (DTCC) settlement functions and related processes such as buy-ins, obligation warehouse, and RECAPs.
• Review fail exposure and accurately report findings to senior regulatory management teams.
• Reconcile daily possession and control issues to maintain accurate records and robust controls.
• Maintain excellent client service skills in all interactions and stakeholder engagements.
• Adhere to all rules, regulations, and procedures that govern this role and the organization.
• Be aware of operational risk and escalate to management at all times to ensure controls and integrity.
• Perform other duties as assigned to support team objectives and broader business needs.

Requirements

To be successful in this role, you must bring a specific set of qualifications and hands-on experience to Altruist. The role demands a detail-oriented professional with a deep understanding of the securities settlement process. You must be able to demonstrate prior experience in a self-clearing broker dealer environment.

• Candidates must possess a bachelor's degree or equivalent practical experience.
• You must have current knowledge of, or the ability to quickly learn, securities settlement processes, including DTC, NSCC, and clearing of agency fixed income.
• You must hold or be able to obtain a FINRA Series 99 license within 90 days of start date.
• You must have at least 3 years of experience working within back office operations, specifically in trade clearance and settlements for a self-clearing broker dealer.
• You must demonstrate expert knowledge with DTC, NSCC, Obligation Warehouse, SMART Track, and other DTCC suite applications.
• You must have hands-on settlement, buy-in, fail control, and/or segregation experience.
• You must be highly proficient in Microsoft Excel, including advanced functions used for reconciliation and reporting.
• You must have strong attention to detail and the ability to manage multiple priorities in a fast-paced environment.

Nice to Have

While not required, the following skills and experiences would be highly advantageous for success in this role.

• Experience with the FIX protocol and a solid understanding of trade capture processes.
• Knowledge of regulatory reporting requirements for fixed income transactions under MSRB and FINRA rules.
• Experience with automated reconciliation tools and scripting for workflow improvements.
• Familiarity with wealth management operations and advisor technology platforms.
• Understanding of risk and exposure management related to settlement failures.

Practical Notes

This role is based in Dallas, TX, and requires availability during standard business hours. Successful candidates must be eligible to work in the United States without sponsorship for this position. Candidates should expect potential involvement in client-facing activities to support operations and address settlement issues directly.