Settlements Specialist at TechSpeed Clearing LLC

Benefits

• 401(k)
• Competitive salary
• Health insurance
• Paid time off
• Department:
  Clearing Operations / Settlements
• Reports To:
  
  Settlements Manager or Clearing Operations Director
• Employment Type:
  
  Full‑Time
• Location:
  
  Dallas, TX

The Settlements Specialist is a core member of the Clearing Operations team responsible for ensuring the accurate and timely settlement of all securities transactions across equities, fixed income, options, and other supported asset classes. This role mitigates financial, operational, and counter party risk by overseeing the full post‑trade lifecycle—from trade validation and affirmation to settlement finality—while coordinating closely with clearinghouses (DTC/NSCC/OCC), custodians, introducing broker‑dealers, counter parties, and internal teams.

The Settlements Specialist is expected to maintain a high level of accuracy, operate expertly under time‑critical conditions, and serve as a subject‑matter expert (SME) in T+1/T+2 settlement cycles, market deadlines, regulatory requirements, reconciliation controls, and exception management. The position plays a key role in safeguarding firm and customer assets through strong knowledge of clearing operations, settlement mechanics, industry utilities, and regulatory rules.

• Ensure accurate, timely settlement of trades across equities, fixed income, ETFs, and options.
• Review trade files for completeness and accuracy before settlement allocation.
• Process and reconcile trades through DTC, NSCC, and OCC systems.
• Validate settlement instructions, counter party details, and account data prior to release.
• Coordinate with counter parties to ensure confirms, allocations, and trade affirmations are completed on deadline.

• Investigate and resolve trade discrepancies including mismatched quantities, prices, CUSIPs, or counter parties.
• Manage “DKs” (Don’t Knows), unmatched trades, and settlement fails through proactive communication.
• Partner with introducing broker‑dealers to correct booking errors or repair trade details.
• Track and clear settlement fails per regulatory timelines, including buy‑ins and obligations under T+1/T+2 frameworks.
• Document all exceptions and escalation paths for compliance and audit readiness.

• Perform daily reconciliations between internal books, DTC/NSCC/OCC, and custodians.
• Identify position differences, cash breaks, and settlement variances; resolve within defined SLAs.
• Monitor free‑credit balances, margin impacts, settlement‑related debits/credits, and liquidity implications.
• Support end‑of‑day close processes and ensure accurate ledger posting.

• Adhere to SEC, FINRA, and clearinghouse rules related to trade settlement, buy‑ins, delivery obligations, and asset protection.
• Ensure compliance with Rule 15c3‑3, 15c3‑1, and industry guidance on settlement‑cycle risk management.
• Maintain documentation and support internal audits, regulatory exams, and operational risk assessments.
• Execute operational controls designed to prevent settlement exposure or client harm.

• Act as a primary point of contact for introducing broker‑dealers regarding settlement inquiries.
• Communicate settlement status, exceptions, deadlines, and funding requirements.
• Assist clients with understanding settlement mechanics, counter party obligations, and fail risk.
• Liaise with market counter parties, custodians, and clearinghouses to ensure smooth settlement workflows.

• Utilize clearing and settlement systems such as DTC Settlement Web, NSCC RTTM, OCC systems, Broadridge, FIS, BETA, Pershing platforms, Proprietary OMS/Clearing systems.
• Validate trade feeds, data interfaces, and reconciliations from upstream systems.
• Assist with system enhancements, process automation, and workflow improvements.
• Participate in UAT for new settlements tools, entitlement/position engines, and system upgrades.

• Work with Margin, Risk, Corporate Actions, Compliance, and Finance teams to manage trade impacts.
• Coordinate with the Corporate Actions team when events…