Specialist, Settlement

Wedbush; Jersey City (NJ); On-site; USD 34,440 - 46,838; Full time

Job summary

Wedbush is hiring an experienced Settlements Specialist in Jersey City, New Jersey, responsible for supporting the settlement of Fed eligible Fixed Income securities and foreign trades. This temporary position may convert to permanent in the future.

The ideal candidate will have strong knowledge in funds and securities management, excellent organizational skills, and proficiency in Microsoft Office. Compensation ranges from $25.00 to $34.00 per hour.

Qualifications

• Organized, detail-oriented, and ability to prioritize daily workflow.
• Ability to interpret stock record.
• Ability to work in a constant state of alertness and safe manner.

Responsibilities

• Ensure all trades for settlements feed to Bk of NY Federal reserve clearing system.
• Process daily Repo related margin calls including coordination with Cash Management and the Repo trading desk.
• Create and distribute daily intra-day BNY cash position and end of day fails reports.

Skills

Strong Knowledge of Fed Book entry

Knowledge of trade cycle from execution to settlement

Proficient in Microsoft Office (Outlook, Word, Excel)

Strong verbal and written communication skills

Strong analytical, problem-solving, and critical‑thinking skills

Tools

BNY BDC

FIS P3

Beta

DTCC/RTTM

Job description

We are hiring an experienced Settlements Specialist to join our team temporarily while a colleague is on a leave of absence. The position is responsible for supporting settlement of all Fed eligible Fixed Income securities through firm’s clearing bank & settlement of all Foreign Equity, Corporate Bonds & Private placements via Foreign Markets and Euroclear. NOTE THIS IS A TEMPORARY POSITION WITH POSSIBLE CONVERSION IN THE FUTURE

Responsibilities Will Include, But Are Not Limited To

• Ensure all trades for settlements feed to Bk of NY Federal reserve clearing system
• Process daily Repo related margin calls including coordination with Cash Management and the Repo trading desk
• Collateralize all daily TriParty Repo agreements including resolving for any intra-day discrepancies
• Analyze and report intra-day real time securities fails and recommends covers to minimize negative fail carry and avoid TMPG charges
• Work with clients and street counterparties to confirm fails, maximize partial deliveries, and process daily pair-off activity
• Reconcile daily suspense, pair-off and write-off accounts for FIS P3 and Beta
• Create and distribute daily intra-day BNY cash position and end of day fails reports
• Process and settle all foreign trades via Citibank local market and Euroclear Easyway system in a timely manner.
• Reflect all settlements in internal Phase 3/Beta system
• Process settled FX to client accounts
• Facilitate settlement on emails sent by middle office/front office as well as Trade support & CSD
• Send/Receive SPO for balance order trades which have settled free of payment in the foreign markets.
• Reflect settled SPOs in Phase 3 accordingly
• Investigate and resolve any discrepancies sent by other teams
• Process cleanups for 15A6 trades
• Monitor and resolve Stock Record and cash breaks daily
• Process Reorg/Dividend shares and money to their suspense accounts
• Perform all Wedbush compliance training and attestations in a timely manner
• Perform other tasks and duties as required and assigned

Experience And Skills

• Strong Knowledge of Fed Book entry , BNY BDC, BNY Access Edge, FIS P3, Beta, DTCC/RTTM
• Knowledge of trade cycle from execution to settlement
• Ability to interpret stock record
• Proficient in Microsoft Office (Outlook, Word, Excel)
• Organized, detail oriented, and ability to prioritize daily workflow
• Strong verbal and written communication skills
• Strong analytical, problem-solving, and critical‑thinking skills
• Ability to work in a constant state of alertness and safe manner

What We Offer

Wedbush Securities (WS) aims to foster a culture of inclusion where all Colleagues are valued for their unique contributions to the firm provided equal opportunities to succeed.

The reasonable estimate of the compensation range for this role has not been adjusted for the applicable geographic location. A reasonable estimate of the current range is $25.00 to $34.00. Colleagues may be eligible for additional, discretionary incentive compensation based on the colleague's and the firm's performance. Decisions regarding compensation are determined on a case‑by‑case basis and are dependent on a variety of factors including but not limited to location; skill sets; experience and training; licensure and certifications; and other business and organizational needs.

Wedbush uses E-Verify, an Internet‑based system, to confirm the eligibility of all newly hired employees to work in the United States. Learn more about E-Verify, including your rights and responsibilities here. https://www.e-verify.gov/employees/e-verify-overview

This position is subject to various laws or regulations that impose restrictions or prohibitions for employment with Wedbush due to criminal history. Those laws or regulations include but are not limited to, the following: Securities Exchange Act of 1934 (SEA) Rule 17a-3, et. seq., Financial Industry Regulatory Authority (FINRA) Rules 3110(e), Rule 4530(a), etc., and FINRA Regulatory Notice 07-55.