Specialist, Settlement

Job DescriptionWedbush Securities is one of the largest securities firms and investment banks in the nation. We provide innovative financial solutions through our Wealth Management, Capital Markets, Futures and Advanced Clearing & Prime Services divisions. Headquartered in Los Angeles, California with over 100 offices and more than 80 correspondent offices, our commitment to providing relentless, customized service is the foundation of our consistent growth.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 ToEnsure all trades for settlements feed to Bk of NY Federal reserve clearing systemProcess daily Repo related margin calls including coordination with Cash Management and the Repo trading deskCollateralize all daily TriParty Repo agreements including resolving for any intra-day discrepanciesAnalyze and report intra-day real time securities fails and recommends covers to minimize negative fail carry and avoid TMPG chargesWork with clients and street counterparties to confirm fails, maximize potential partial deliveries, and process daily pair-off activityReconcile daily suspense, pair-off and write-off accounts for FIS P3 and BetaCreate and distribute daily intra-day BNY cash position and end of day fails reportsProcess and settle all foreign trades via Citibank local market and Euroclear Easyway system in a timely matter.Reflect all settlements in internal Phase 3/Beta systemProcess settled FX to client accountsFacilitate settlement on emails sent by middle office/front office as well as Trade support & CSDSend/Receive SPO for balance order trades which have settled free of payment in the foreign markets.Reflect settled SPOs in Phase 3 accordinglyInvestigate and resolve any discrepancies sent by other teamsProcess cleanups for 15A6 tradesMonitor and resolve Stock Record and cash breaks dailyProcess Reorg/Dividend shares and money to their suspense accountsPerform all Wedbush compliance training and attestations in a timely matterPerform other tasks and duties as required and assignedExperience And SkillsStrong Knowledge of Fed Book entry , BNY BDC, BNY Access Edge, FIS P3, Beta, DTCC/RTTMKnowledge of trade cycle from execution to settlementAbility to interpret stock recordProficient in Microsoft Office (Outlook, Word, Excel)Organized, detail oriented, and ability to prioritize daily work flowStrong verbal and written communication skillsStrong analytical, problem-solving, and critical-thinking skillsAbility to work in a constant state of alertness and safe mannerWhat We OfferWedbush 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-overviewThis 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.