Senior Director, Custody and Settlement

Summary

Join Alpaca, a leading brokerage infrastructure technology company, as our Senior Director of Custody and Settlement Services. You will serve as the Principal Operations Officer, overseeing post-trade functions including Purchase & Sales, settlements with clearing organizations, reconciliation, possession and control, and corporate actions. Lead a high-performing team, maintain strong relationships with clearing organizations, and ensure regulatory compliance. This role requires extensive experience in custody, settlement, and clearing, along with strong leadership and communication skills. Alpaca offers a competitive salary, stock options, and comprehensive benefits, including health insurance starting on day one, a new hire home-office setup stipend, and a monthly stipend.

Requirements

• 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
• 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

Responsibilities

• 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
• Oversee the accurate and timely confirmation, allocation, and booking of trades
• Ensure robust controls to mitigate trade breaks and discrepancies
• Manage settlements with clearing organizations, including DTC, OCC, and FICC, ensuring accuracy and timeliness
• Develop strategies to minimize settlement failures and maximize resource efficiency
• 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
• Oversee compliance with SEC Rule 15c3-3 and other regulatory requirements regarding customer asset segregation
• Monitor and report on possession and control compliance metrics
• 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
• 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
• 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
• 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

Preferred Qualifications

• An MBA or advanced degree
• Series 27

Benefits

• Competitive Salary & Stock Options
• Health benefits start on day 1. In the US this includes Medical, Dental, Vision. In Canada, this includes supplemental health care. Internationally, this includes a stipend value to offset medical costs
• New Hire Home-Office Setup: One-time USD $500
• Monthly Stipend: USD $150 per month via a Brex Card