Brokerage Clearing Specialist

DriveWealth•Chicago, IL

1d•$100,000 - $120,000•Hybrid

About The Position

Purchase & Sales Operations plays a critical role in trade processing, reconciliation, and settlement across various asset classes, primarily equities. This position ensures the timely and accurate confirmation of trades, supports regulatory reporting requirements, and coordinates with executing brokers, clients, and internal teams to resolve breaks and exceptions. Early morning P&S work begins at 6:30am CT and can be completed remotely; in-office presence is required 3-4 days per week thereafter. This is strictly a Chicago-based role.

Requirements

2+ years working in the P&S Dept with a Broker-Dealer
P&S specialist with Equity/Option product knowledge
Buy-in knowledge re: REGSHO rule
Reconciliation of Equity Trade Breaks in CNS
Obligation Warehouse monitoring and Corrective action
Series 7, or willingness to obtain the Series 7 license within six months of employment
Familiarity with industry utilities and platforms (e.g., DTCC, NSCC, TRAQS, NASDAQ WORKX and TRAFIX)

Responsibilities

Monitor and process pre-market P&S activity from 6:30am CT (remote work eligible), including trade confirmations, exception flagging, and coordination with executing brokers before market-open client-facing operations
Review, match, and confirm trade data from executing brokers and counterparties
Process equity and/or fixed income trade activity through the firm’s clearing and settlement systems
Ensure accuracy of trade details, including price, quantity, counterparty, and trade date
Investigate and resolve trade discrepancies and breaks promptly
Liaise with traders, prime brokers, custodians, and counterparties to resolve P&S issues
Ensure trades are booked by regulatory guidelines (e.g., SEC, FINRA, DTCC)
Monitor trade settlement cycles and assist in fail management to avoid trade fails or buy-ins
Generate daily and monthly reconciliation and exception reports
Assist with post-trade compliance and regulatory reporting obligations
Participate in operational risk and control processes to mitigate financial exposure