Manager of Equity Settlements at Robinhood

About the team:

Settlements are at the core of Robinhood.  For every trade, every new product launched or market entered, every transaction completed, it is Settlements that enables business to flow.

Settlements is integrated within our clearing businesses and delivers trading, and cash management capabilities to all our clients.  We work to protect the accuracy and efficiency at every step of the trade.  The Settlements Team first ensures that the stock and payment are ready to be traded.  Next, we make sure that the trade is settled properly and on time.  And finally, we confirm that each trade is reported accurately to the buyer, the seller, the firm and the regulators.  Along the way, Settlements looks for anything that could expose our clients or the firm to financial loss, penalty or other risks.  Settlements does this for every trade executed at Robinhood.  The Settlements Team also aids in the design of the technology, the information flows and the processes that make it all work.  We constantly monitor these systems and reengineer them to keep everything running as efficiently as possible.

What you’ll do day-to-day:

• Fail control functions - settle trades, buy-in aged fails, daily settlement reconciliations
• Seg deficit management - cure deficits, complete seg reporting
• Work very closely with other clearing departments including the ACATS team, Securities Lending Ops & Trading teams, and the Fin Op team
• Build relationships with street counterparties, DTC, and other 3rd party vendors to quickly settle failing trades and cure deficits
• Manage day-to-day entries, adjustments, corrections directly in the brokerage platform
• Manage and resolve escalated issues
• Ensure accurate and timely processing of daily work
• Develop and maintain department procedures and guidelines
• Implement process improvements within department

About you:

• Series 7, 24
• 4 - 7 years experience in Brokerage Operations and management
• Expert knowledge with DTC, NSCC, Obligation Warehouse, SMART Track, and other DTCC suite applications
• Settlement, buy-in, fail control, and Possession or Control (15c3) 
• Ability to build a team. 
• Strong self-starter with ability to work independently
• Strong communication and analytical skills
• Ability to effectively prioritize and adapt to changing environment

Bonus points:

• Master’s Degree
• Database experience - SQL, python
• Experience working at a fast-growing company
• Experience working with product and engineering teams to create innovative ways to handle day to day processing