Brokerage Operations Associate

Posted May 24

Who we are:

Our mission is to open financial services up to everyone on the planet. Our commitment lies in empowering and enabling fintech innovators worldwide to reach their local customers in the way that works for their markets. Alpaca is a developer-first, financial technologies platform offering U.S and Global Financial Institutions and individuals access to U.S. markets via API integrations. Alpaca Securities is also a registered broker-dealer. Financial Institutions can connect with our Broker API to access modern clearing and settlement technology and also leverage our back-office operations teams for account onboarding, global money movement, trade execution, margin, and more. Alpaca Securities offers access to equities and ETFs. Options are coming soon. 

The Alpaca Herd (Our Team)

Our globally distributed team consists of engineers, traders, and brokerage specialists, and is backed by a group of prominent investors and highly experienced industry angel investors, including Tribe Capital, Horizon Ventures, Spark Capital, Social Leverage, Elefund, Portag3, and Y Combinator. Alpaca has raised over 100M in funding.

Your Role:

This is an opportunity to join a Fintech firm specializing in many facets of the broker-dealer space. You will help our team by focusing on ACAT transfers. The team is 100% distributed and remote. The role will be reporting directly to one of the Firm’s Director of Operations.

Things You Get To Do:

  • Work with and offer assistance to internal and external customers with daily incoming and outgoing Account Transfer Requests.
  • Assist with rebuilding and formalizing procedures for the transfers process to ensure business continuity 
  • Assists the Director in processing ACAT transfers in/out activity and prepare for the transition to self clearing in DTCC
  • Handle communications with Contra firms, and Transfer Agents
  • Process Mass Account Transfers/Conversions (internal and external)
  • Serve as the Firm's Subject Matter Expert on Transfers do's and don'ts
  • Research and respond to inquiry tickets regarding Account Transfers
  • Ensures ACAT requests are processed within the firm's timelines for processing and as outlined by industry guidelines.
  • Must be familiar with ACAT systems (NSCC), regulations and industry practices that govern both ACATs and non-ACAT transfers.
  • Able to identify documentation/processing irregularities and outline corrective measures.
  • Assist with documenting procedures and updates processes as needed.
  • Process ACAT free deliveries and fail reversals (FRVs)
  • Works cross-functionally with other staff to create highly efficient operational processes that avoid control and quality deficiencies and associated monetary losses.
  • Driving continuous operational improvement, updating of the control framework and undertaking root cause analysis and trend analysis of operational issues 
  • Support the business unit management with the application of policy frameworks and become established as a referral point for policy related queries.  
  • Assist on automation of daily self-clearing processes collaborating with engineering
  • Prepares summary documentation/work papers for special projects/observations, submitting to management for review
  • Participates on projects as needed
  • Performs other duties and responsibilities as assigned

Who You Are (Must-Haves):

  • 2+ years of ACATS experience
  • Knowledge of Brokerage Clearing operations 
  • Knowledge of Financial industry rules, regulations and laws 
  • Possess general knowledge of U.S. securities back office operations of a broker-dealer and/or carrying firm
  • Ability to Identify relationships, draw logical conclusions and interpret results for use in decision making
  • Excellent written and verbal communication skills
  • Ability to work independently with attention to detail as well as collaboratively within a team environment
  • Providing insights for continuously improving our client experience and providing efficiency
  • Ability to work independently in a fast-paced environment with multiple priorities
  • Must be able to follow company tenets of:
  1. Stay Curious
  2. Have Empathy
  3. Be Accountable
  • Be able to work in a remote environment
  • Have basic knowledge of SQL, metabase, or other database coding language 
  • Easily adapt between Microsoft and Google document and spreadsheet solutions
  • Be flexible to assist other functional areas when necessary
  • Support department initiatives and company vision
  • Must be able to change and adapt to the ever-changing regulatory landscape of the financial industry
  • Possess a Series SIE and 99 or higher securities license or achieve a passing result on the 99 within the first 180 days of employment

Who You Might Be (Nice-to-Haves):

  • Associate’s degree in a business-related field and a minimum of five (5) years of experience in the areas of ACATS, cash and securities reconciliation, accounting, banking, and/or financial services industry.
  • Series 7
  • Experience processing ACATs on DTCC's portal

How We Take Care of You:

  • Competitive Salary & Stock Options
  • Benefits: Health benefits start on day 1. In the US this includes Medical, Dental, Vision. In Canada, this includes supplemental health care. Internationally, this includes a stipend value to offset medical costs.   
  • New Hire Home-Office Setup: One-time USD $500
  • Monthly Stipend: USD $150 per month via a Brex Card
  • Work with awesome hard working people, super smart and cool clients and innovative partners from around the world

Alpaca is proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse workforce.