Senior Director, Custody and Settlement - Alpaca Markets

Your Role:

The Senior Director of Custody and Settlement Services will serve as the Principal Operations Officer, overseeing the seamless execution and integrity of critical post-trade functions. This role ensures operational excellence in areas including Purchase & Sales (P&S), settlements with clearing organizations, reconciliation, possession and control, and corporate actions. The Senior Director will lead a high-performing team, maintain strong relationships with clearing organizations such as DTC, OCC, and FICC, and ensure compliance with regulatory standards.

Things you get to do:  

• Strategic Leadership:
• Act as the Principal Operations Officer, setting the strategic vision for custody and settlement functions while aligning them with the firm’s broader goals.
• Drive operational efficiency, risk management, and continuous improvement across all managed functions.
• Purchase & Sales (P&S):
• Oversee the accurate and timely confirmation, allocation, and booking of trades.
• Ensure robust controls to mitigate trade breaks and discrepancies.
• Settlement Operations:
• Manage settlements with clearing organizations, including DTC, OCC, and FICC, ensuring accuracy and timeliness.
• Develop strategies to minimize settlement failures and maximize resource efficiency.
• Reconciliation:
• Ensure daily and periodic reconciliation of accounts, trades, and positions to identify and resolve discrepancies promptly.
• Establish rigorous audit trails and reporting mechanisms for transparency.
• Possession and Control:
• Oversee compliance with SEC Rule 15c3-3 and other regulatory requirements regarding customer asset segregation.
• Monitor and report on possession and control compliance metrics.
• Corporate Actions:
• Direct corporate action processing, including dividends, interest payments, stock splits, and mergers, ensuring accuracy and timely communication with stakeholders.
• Implement client-centric approaches to minimize disruptions during corporate events.
• Team Leadership and Development:
• Lead, mentor, and develop a team of operations professionals, fostering a culture of collaboration and excellence.
• Provide guidance on complex issues and escalate critical concerns to senior management.
• Stakeholder Engagement:
• Build and maintain relationships with external clearing organizations and regulatory bodies.
• Collaborate with internal stakeholders, including compliance, risk, and technology teams, to ensure operational alignment and regulatory adherence.
• Regulatory Compliance and Risk Management:
• Ensure all operations comply with applicable regulatory requirements, industry best practices, and internal policies.
• Identify and mitigate operational risks, implementing controls and contingency plans as needed.

Who You Are (Must-Haves):

• 10+ years experience in financial services with specific expertise in Custody, Settlement and Clearing
• A bachelor’s degree in finance, accounting, or a related field; an MBA or advanced degree is preferred.
• 12+ years of experience in custody, settlement operations, or related fields, with at least 5 years in a senior leadership role. In-depth knowledge of clearing and settlement processes with organizations like DTC, OCC, and FICC. Strong understanding of regulatory frameworks, including SEC Rule 15c3-3 and other relevant rules.
• Proven track record in leading large teams and managing cross-functional projects.
• Exceptional problem-solving, communication, and stakeholder management skills. Proficiency in financial technology platforms and operational systems.
• Series 7, 27 (7 required, 27 can be obtained in 3 months)

Key Competencies:

• Strategic thinking and operational execution.
• Strong leadership and team-building capabilities.
• Analytical and decision-making acumen.
• Exceptional communication and interpersonal skills.

Last updated: 4 hours ago