Operations Specialist

Millennium•New York, NY

1d•Remote

About The Position

The Operations Specialist will support the end-to-end trade lifecycle for core fixed income and financing products. This role involves trade capture, confirmation, settlement, and post-settlement activities. The specialist will execute and monitor daily settlement activity, coordinate with various internal and external stakeholders to resolve exceptions, and perform daily reconciliations. Additionally, the role assists with intraday cash management, monthly P&I processing, and contributes to operational controls and process improvement initiatives. The goal is to strengthen straight-through processing and reduce manual touchpoints.

Requirements

Bachelor’s degree in Finance, Economics, Accounting, or a related discipline (or equivalent experience).
3-5 years of experience in buy-side operations, middle office, prime brokerage servicing, custody, or fixed income settlements.
Working knowledge of fixed income products and post-trade processing, including U.S. Treasuries, corporates, MBS, foreign bonds, and repo; understanding of settlement flows and cutoffs (Fedwire and DTC).
Experience managing trade confirmations, settlement exceptions/fails, and break resolution; strong investigative and follow-through skills with clear escalation judgment.
Proficiency with reconciliations across cash, positions, and trades; ability to interpret statements and resolve discrepancies with custodians/prime brokers.
Strong Excel skills (pivot tables, lookups, basic formulas) and comfort working with large data sets.
Strong written and verbal communication skills; ability to coordinate effectively with Trading, Middle Office, Finance/Accounting, custodians, prime brokers, and external counterparties.
Detail-oriented with a strong control mindset; ability to work under time-sensitive deadlines and manage multiple priorities in a fast-paced environment.

Nice To Haves

Familiarity with SQL and/or reporting tools is a plus.
Experience with order management, trade capture, or post-trade systems (e.g., Murex, FIS, Geneva, Bloomberg, and/or custodian portals such as BNY AccessEdge) is preferred.

Responsibilities

Support the end-to-end trade lifecycle for core fixed income and financing products, including U.S. Treasuries, corporate bonds, mortgage-backed securities, foreign sovereign and corporate bonds, and repo transactions, from trade capture and confirmation through settlement and post-settlement activities.
Execute and monitor daily settlement activity directly with Bank of New York and across multiple prime brokers, ensuring timely and accurate settlement in line with market deadlines, including Federal Reserve and DTC cutoffs.
Coordinate daily with counterparties, custodian banks, prime brokers, and internal stakeholders (Trading, Middle Office, and Finance/Accounting) to facilitate trade confirmations, resolve settlement exceptions and fails, and address corporate action and servicing-related inquiries.
Perform daily reconciliations of cash, positions, and trades, investigate discrepancies, and drive resolution of assigned breaks within established service levels; escalate recurring issues and document root causes and outcomes.
Assist with intraday cash management related to settlement activity through prime brokers, including monitoring expected settlements, identifying potential funding shortfalls, and coordinating required cash movements to support timely settlement.
Support monthly P&I processing and resolve discrepancies with agent banks and custodians, ensuring accurate posting, timely receipt/payment, and appropriate exception handling.
Contribute to operational control and governance initiatives by maintaining procedures, supporting audits/requests, identifying operational risks, and participating in projects to reduce manual touchpoints and strengthen straight-through processing.