Clearing Operations Specialist

VIRTUAL-FIRST/REMOTE /
Operations – Clearing Operations /
Full-time
We believe that as of today, there is no great solution for businesses to embed access to the US financial markets. Embedded is on a mission to change that by building the modern clearing and custody platform for the next generation of investing and trading apps.

Embedded is actively seeking to hire a Clearing Operations Specialist to be a part of the team supporting US listed equities and options. You will be on the front line of our newly formed Clearing Operations team working across the organization to build scalable processes and systems for our correspondents. You will work alongside the Operations Lead helping to develop and design departmental processes and guidelines. If you are interested in building the future of financial markets, come join us at Embedded. 

This role has the option to be remote or based in our Vancouver, Washington location.

What You'll Do

    • Take ownership of critical back-office functions which may include: Account Servicing, Corporate Actions, Settlements, Tax Withholding, Stock Movements, Cost Basis Adjustments, Security Master, etc
    • Perform routine and complex functions, handle exception processing, take part in problem resolution, risk mitigation and assist in process improvements
    • Resolution of correspondent inquiries
    • Monitor health of order management, funds transfers, and other critical transactions systems
    • Implement Written Supervisory Procedures to comply with all SEC and FINRA rules
    • Research, annotate and resolve depository position breaks and suspense account balances
    • Manage day-to-day entries, adjustments, and corrections
    • Troubleshoot, manage, and resolve processing issues
    • Provide correspondent support in areas of responsibility
    • Oversee the accuracy of security master and stock record updates
    • Take on special assignments and cross-train with team members
    • Work with our developers to build automation around unnecessarily manual  procedures
    • Write up processes and procedures for different functions across the clearing operations team

Minimum Qualifications

    • 3-5+ years experience at a clearing broker-dealer working across back-office operations
    • Detailed hands on experience and understanding of DTC/NSCC, OCC and Securities Industry
    • Series 7, 99 or SIE
    • Customer-first attitude with a strong commitment to promoting a great user experience
    • Past experience developing procedures for back-office operations from the ground up
    • A deep understanding around the way FinTech firms work, scale and operate
    • Analytical and data oriented approach to problem solving
    • Ability to work with a high degree of autonomy and limited supervision
    • High standard of professionalism
    • Exceptional writing and oral communication skills
    • A curious perspective - you like to understand why things happen and work the way they do
    • Proficiency in Google Workspace

Preferred Qualifications

    • Prior experience with a relevant clearing firm
    • Active Series 4 and 24 - previous options experience is a major bonus
    • Business Process Management or Lean Six Sigma training
    • Strong relationships with individuals who work at DTC/NSCC, OCC

Perks

    • Comprehensive Benefits in US - Healthcare, Dental and Vision Coverage
    • Competitive Salaries
    • Stock Options
    • Paid Time Off
    • Paid Market Holidays
    • Flexible Work Environment
About the Company:

Embedded Financial Technologies Inc. (“Embedded”), a Vancouver, Washington based fintech start-up and parent to Embedded Clearing LLC FINRA member correspondent clearing broker-dealer, is a modern, API-first clearing and custody business built to make it easier than ever before to embed trading or investing features into any product. Founded in 2020 by our CEO Michael Giles, former Square executive and proven FinTech entrepreneur, who also formerly founded Third Party Technologies Inc. (acquired by Square, Inc.) which provided an API platform for integrating investing features. Embedded is backed by an amazing group of investors including Propel Venture Partners, Y Combinator, Bain Capital Ventures, Homebrew, Acrew Capital, SWS Ventures, solo GP venture investors including Lachy Groom and Josh Buckley, as well as founders from successful fintech companies, such as Plaid, Marqeta, Acorns, Betterment and others.