Senior Manager, Settlements

Altruist • Dallas, TX

20h • Hybrid

About The Position

Altruist is transforming the multi-trillion dollar wealth management industry by building an AI platform for wealth professionals. We partner with financial advisors nationwide, empowering them to grow, optimize time and resources, and deliver superior outcomes for their clients.
We're looking for exceptional talent to help us achieve our mission of making financial advice better, more affordable, and accessible to all. If you're passionate about challenging the status quo and want to do the most important work of your life, we'd love to meet you!
But first, our values
Kindness - Kindness doesn’t just equal niceness. We listen to understand. We embrace, and encourage healthy debate and diverse perspectives. We approach conflict openly, honestly, and respectfully.
Brilliance - Humility is the skill we’re most proud of and possessing a growth mindset is always top of mind. We take ownership in everything we touch; regularly using our unique superpowers to reach a common goal as a team. We succeed and fail as one.
Grit - When challenges arise, we stay laser focused on achieving our mission and finding a way forward, even when it’s hard. We are nimble and maintain a sense of urgency, swiftly adapting to change and overcoming obstacles.
The opportunity
Altruist is in the midst of an exceptional growth phase and we’re excited to hire a dynamic and experienced Senior Manager of Settlements to lead and elevate our Settlements team within the Operations department. This role is integral to ensuring seamless trading, settlement, and reporting processes. The Senior Manager will oversee a team of Analysts and collaborate across departments to enhance operational efficiency, mitigate risk, and drive continuous improvement. This position offers the opportunity to shape the systems and processes that underpin Altruist’s clearing and settlement operations, ensuring excellence in service delivery.

Requirements

• 8+ years in brokerage operations and 4+ years in a people management position, with specific expertise in trade clearance and settlements for a self-clearing broker-dealer.
• Strong coaching abilities with a proven track record of building and managing high-performing teams.
• Series 7, 24, and 53 licenses.
• Technologically savvy and proficient with DTC, NSCC, Obligation Warehouse, SMART Track, and other DTCC applications.
• Expertise in fixed-income processing and settlement.
• Ownership mentality.
• Superb communication skills, including active listening and clear articulation of perspectives.
• Resilience and determination to achieve success.
• Confidence, a strong knowledge base, ability to discover the unknown, and openness to differing perspectives.
• Creative problem-solving skills.

Responsibilities

• Lead and mentor a team of Settlement Analysts, providing guidance, coaching, and development opportunities to ensure a high-performing team.
• Manage daily settlement operations, including fail control functions, buy-ins for aged fails, and daily settlement reconciliations.
• Oversee seg deficit management, including curing deficits and completing segmentation reporting.
• Collaborate with internal teams (ACATS, Securities Lending Ops, Trading, FinOp) and external stakeholders (DTC, street counterparties, 3rd party vendors) to resolve settlement issues promptly and effectively.
• Ensure accurate and timely processing of daily entries, adjustments, and corrections in the brokerage platform.
• Identify, investigate, and resolve escalated trade, cash, and position reconciliation issues.
• Develop, document, and maintain department procedures, guidelines, and controls to ensure regulatory compliance and operational efficiency.
• Partner with Product and Engineering teams to design and implement innovative solutions for process improvement and automation.
• Monitor and report fail exposures to senior management, ensuring robust risk management practices.
• Support and enhance systems integration to maintain data accuracy, consistency, and completeness across platforms.
• Stay informed on industry developments, technologies, and best practices to ensure Altruist remains at the forefront of settlement operations.
• Serve as the point of contact (POC) for fixed-income escalations, ensuring prompt resolution and effective communication with stakeholders.
• Oversee and ensure compliance with TRACE and MSRB reporting requirements, maintaining accuracy and timeliness in reporting fixed-income transactions.

Benefits

• Competitive pay and equity for eligible positions.
• Premium healthcare, dental, and vision insurance plans (HMO and PPO).
• 401k savings plan with a 4% match and immediate vesting.
• 16 week paid parental leave after one year of employment.
• Professional growth and development opportunities including an employee mobility program and an annual L&D budget allocation for each employee.
• Company perks program (includes discounts on pet insurance, fitness, cell phone plans, and travel, etc.).
• Financial guidance program (includes counseling on navigating debt, tracking personal spend, saving and planning goals, home-purchasing preparedness, etc.).
• One month work from anywhere policy (with the exception of a few countries).
• Stock Options (ISOs) for eligible roles.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed