Clearing Operations Associate, Options

Summary

Join Alpaca's clearing back office team as an Options Clearing Specialist and own the end-to-end option lifecycle for OCC-specific products. You will build straight-through processing for Alpaca's self-clearing platform, handling P&S, ACATS, OCC position reconciliation, assignment & exercise processing, corporate actions, and regulatory reporting. Manage the post-trade lifecycle for listed options using OCC’s ENCORE platform, processing daily OCC activity and monitoring real-time position reconciliation. Resolve trade breaks and discrepancies, reconcile firm and customer positions, and ensure prompt corporate action processing. Collaborate across departments for margin requirement funding and help automate various processes. Stay updated on OCC notices and rule changes and ensure operational impact assessment. This role requires 3–5 years of hands-on experience with OCC ENCORE and a deep understanding of the listed options clearing lifecycle.

Requirements

• 3–5 years of hands-on experience working with OCC ENCORE in a clearing capacity
• Deep understanding of the listed options clearing lifecycle, including trade capture, assignment, expiration, and reconciliation
• Familiarity with OCC file types and processing cycles (e.g., E&A files, CMR, position files)
• Strong attention to detail and a track record of resolving operational breakdowns with accuracy and urgency
• Proficiency with Excel or Google Sheets (pivots, lookups, etc.)
• Excellent communication skills with the ability to work cross-functionally under tight deadlines
• Comfortable working in a regulated, high-volume environment with a focus on controls and process integrity
• Possess a FINRA SIE or within the first 180 days of employment
• Must be able to follow the company tenets of:Stay CuriousHave EmpathyBe Accountable

Responsibilities

• Manage the complete post-trade lifecycle for listed options—clearing, reconciliation, and settlement—using OCC’s ENCORE platform
• Process daily OCC activity, including trades, exercises/assignments, expiration events, and position reconciliations
• Monitor real-time position reconciliation to confirm that long and short contracts align internally and externally
• Monitor and resolve trade breaks, unmatched activity, and clearing discrepancies in coordination with counterparties and clearing firms
• Reconcile firm and customer option positions against OCC records to ensure alignment
• Confirm that corporate actions, accelerated options, cash-in-lieu processing, and like corporate events are processed promptly
• Collaborate across departments for margin requirement funding, including pledging equities to reduce daily OCC requirement needs
• Help fully automate ACATS, CMTAs, Spread file delivery, and LOPR reporting
• Collaborate with operations, technology, and compliance teams to maintain and improve straight-through processing and exception handling
• Stay on top of OCC notices, market events, and rule changes, and ensure relevant impacts are assessed and addressed operationally

Preferred Qualifications

• Bachelor’s degree in Finance, Accounting, or a related field
• Experience reconciling OCC margin or billing components and understanding of collateral workflows
• Familiarity with clearing broker-dealer operations and omnibus account structures
• SQL or data analytics skills for building reports and supporting exception analysis
• Exposure to regulatory reporting (e.g., FOCUS reports, segregation reporting) as it relates to options clearing
• Experience automating workflows or working with post-trade reconciliation tools
• Comfortable navigating startup or high-growth fintech environments
• Deep equities and DTCC knowledge
• Series 7

Benefits

• Competitive Salary & Stock Options
• Health Benefits
• New Hire Home-Office Setup: One-time USD $500
• Monthly Stipend: USD $150 per month via a Brex Card