• Purchase and Sales Clearance Specialist

    Location : Location US-TN-Nashville
    Operations & Technology
    Position Type
  • Company Overview

    AB is a leading global investment management firm that offers high-quality research and diversified investment services to institutional clients, individuals and private clients in major markets around the world. AB employs more than 500 investment professionals with expertise in growth equities, value equities, fixed income securities, blend strategies, and alternative investments, and, through its subsidiaries and joint ventures, operates in more than 20 countries. AB’s research disciplines include fundamental research, quantitative research, economic research and currency forecasting capabilities. Through its integrated global platform, AB is well-positioned to tailor investment solutions for its clients. AB also offers independent research, portfolio strategy and brokerage-related services to institutional investors.


    OPS Group Description:
    Broker Dealer Operations is responsible for the support of the global Sell Trading and US custody of AB’s Private Client business. The broker dealer is a registered subsidiary entity in multiple countries with multiple exchange memberships which operates across 45+ markets. For each regional location, a broker dealer operations support team is in place to support local activity but works within the global support framework to provide the highest quality of service to internal and external global client base. Since 2012 the operational functions have been outsourced to a major industry provider leaving a global team of 33 highly skilled individuals in broker dealer processing and regulations to provide the necessary oversight for the daily activity. The global team supports a global sell side business with yearly revenues of approximately $400mm and nearly $90B in private client assets.


    OPS Job Description:
    We are seeking a P&S securities clearance specialist to join our US Broker Dealer Operations Team in Nashville, TN. The department’s primary responsibilities include US securities settlements via DTCC, NSCC and FEDWIRE. Additionally, the individual is expected to perform daily review of reporting and controls performed by our outsourced team with oversight of related outsourced services.


    Describe the role:
    The key job responsibilities include, but not limited to:

    • P&S function is responsible for providing services essential for completing the trade life cycle and servicing client/front office needs. The members of this team are required to ensure timely and accurate research and resolution of equity trade breaks as well as managing trade flows from front end to back end systems.
    • Oversight and control of internal trade transactions review and reporting of all communication of discrepancies to the appropriate party(s) followed through to resolution.
    • P&S operations and clearance ensuring daily market trading activity is compared with street activity to control and reduce the risk of unmatched trades. 

    AllianceBernstein is an equal opportunity employer.  We do not discriminate based race, color, creed, national origin, sex, age, disability, marital status, sexual orientation or citizenship status.


    Oversight of the following outsourced functions:

    • Securities processing responsible for trade capture processes, including trade blotter reconciliations and resolution of exceptions. Research and resolve problems relating to specific P&S transactions
    • Maintains proper daily workflow documentation evidence for regulatory and compliance purposes. Satisfies documentation processes to ensure files are easily found, understood and are well maintained
    • Daily comparison of open trade breaks and ensuring items are tracked and actioned.
    • Reconciliation of securities out of balances, includes processing of adjusting entries.
    • Daily interaction with internal and external clients on trade capture related queries

    On-sight responsibilities:

    • Input of cash wires on as needed basis
    • Assist in daily audit sampling and testing of settlements processes performed by Broadridge

    What makes this role unique or interesting?
    The individual will have an opportunity to learn all areas of Broker Dealer Operations as management is committed to extensive cross training within the area as skills are developed in assigned responsibilities. Additionally, the individual will have the opportunity to provide extraordinary client service to improve the overall customer experience



    • The ideal candidate will possess a bachelor’s degree with 3-5 years’ experience in a financial services firm or related environment. Knowledge of broker/dealer operations concepts in any or all areas would be beneficial: Stock Loan, Stock Record, DTC, Seg. and Trade Lifecycle. FED settlements, 15c3, Bony system
    • Ability to work in a fast-paced team-oriented environment and possess the desire and ability to learn quickly and apply concepts within the framework of the role
    • Candidate must be able to obtain a FINRA Series 99 Operations Professional License within 3 – 6 months of employment date.
    • Strong technical skills and attention to detail and ability to multi-task

    Skills: Strong Communication oral and written, high proficient analytical skills


    Special Knowledge: Understanding of US equity settlements along with industry utilities DTCC and/or Broadridge applications is a plus.


    Location: Nashville, TN, US



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