Associate - Settlements

About Clear Street:

Clear Street is building new infrastructure for today’s financial institutions. Founded in 2018, Clear Street is an independent, non-bank prime broker replacing the legacy infrastructure used across the capital markets today. 

We started from scratch by building a completely cloud-native clearing and custody system designed for today’s complex global markets. Clear Street’s proprietary prime brokerage platform adds significant efficiency to the market, while focusing on minimizing risk and cost for clients regardless of size or revenue opportunity. Our goal is to create a single source-of-truth platform for every asset class, in every country, and in any currency.

By combining highly-skilled product and engineering talent with seasoned finance professionals, we’re building the essentials to compete in today’s fast-paced markets.

The Role:

Initially the role will cover equity settlement and the associated cash, position and suspense reconciliations.  However, anyone joining should be prepared to learn and perform other functions as volumes or other business variables dictate.  The responsibilities will almost certainly change over time to other settlement related functions as experience grows and cross-training occurs so we are looking for an individual that is willing and able to adapt.

The Team:

The settlements team is responsible for a variety of functions.  These functions include but are not limited to the following:

• Domestic equity and US treasury fail control.


• Issuance and management of broker to broker buy-in notices


• ACAT and non-ACAT customer transfers


• Fail comparison including via DTC’s Obligation Warehouse and the 17a13 quarterly confirmation


• Reconciliation of numerous cash, position and suspense accounts.


• Daily performance and documenting of controls


• Automate reporting and tasks through use of technology


• Ensuring compliance with various regulatory rules including RegSHO, Reg T and 15c3-3


• Consistent cross training and idea sharing to drive process improvement, efficiency and teamwork. 

Requirements: 

• Strong preference for at least 1 year of experience in DTC settlements


• Willingness to obtain Series 99 and/or Series 7


• Strong risk control background


• Data analysis skills


• Strong ability with autonomy

We Offer:

At Clear Street, we offer competitive compensation packages, company equity, 401k matching, gender neutral parental leave, and full medical, dental and vision insurance. Our belief has always been that we are better as a business when we are all together in person. As such, beginning on January 2, 2023, we are requiring employees to be in the office 4 days per week. In-office benefits include lunch stipends, fully stocked kitchens, happy hours, a great location, and amazing views.

Our top priority is our people. We’re continuously investing in a culture that promotes collaboration. We help each other through challenges and celebrate each other's successes. We believe that modern workplaces succeed by virtue of having high-performance workforces that are diverse — in ideas, in cultures, and in experiences. We put in the effort to make such a workplace a daily reality and are proud to be an equal opportunity employer.

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