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Settlements Supervisor

Janney Montgomery Scott LLC, 1717 Arch Street, Philadelphia, Pennsylvania, United States of America Req #465
Thursday, September 10, 2020
Janney is an award-winning full-service financial services firm committed to understanding our clients' needs and providing advice beyond investments.  We are equally committed to building a diverse workforce and inclusive culture where employees can use their talents to thrive and grow professionally with the firm.


The Settlements Supervisor works closely with the Middle Office/Operations Trade Support Team along with various Operations staff. This role requires a self-motivated, goal-focused individual to manage multiple tasks in a time-sensitive environment while constantly monitoring the regulatory and financial risks. The Supervisor is responsible for monitoring workflows and volumes of the team, as well as leading in cross-training efforts. The candidate will also effectively and promptly communicate with, and provide assistance to, the department Manager as needed.

Responsibilities Include:

  • Supervise a team of 8 operations professionals
  • Resolve trade settlement issues and monitor trade fails
  • Identify and resolve the root cause of all issues
  • Ensure the team provides daily fail reporting to the sales associates and the Middle Office team and provide an explanation of the failed trades 
  • Be the first escalation point for all issues and act as a resource to problem solve for complex issues with clients, counterparties and other internal teams
  • Train new associates and cross train current associates on the workings of the group
  • Delegate work and follow up on day-to-day activities of the team
  • Consult with the manager to identify process improvement initiatives and continually seek best practices for current processes and procedures
  • Provide direction and oversight to the team
  • Escalate all accomplishments and issues to management regularly
  • Ensure all daily reports are reviewed and maintained appropriately  

Required Experience and Skills:

  • Undergraduate degree (preferred) or equivalent experience
  • Minimum 5 years of industry experience working in Operations with a strong understanding of trade settlement
  • 2 years of supervisory experience a plus
  • Experience working with the following industry systems applications required:
  •  Refinitiv/Thomson BETA, ALERT, DTCC, NSCC and MBSD
  • Experience working with Brokers and Custodians to resolve failed trades
  • Experience with foreign trade settlement processes
  • Possess the ability to apply independent judgment and decision making to meet critical time frames  
  • Proficient in Excel and other Microsoft applications
  • Experience with robotic process automation (RPA) is a plus
  • Understanding of market practices (MSRB and FINRA rules) around buy-ins/sell-outs and claims
  • Detail-oriented with strong analytical and problem-solving skills
  • Work with a sense of urgency and ability to multi-task in a fast-paced environment
  • FINRA Series 7 or 99 license or ability to acquire within six months
  • Possess a strong understanding of risk management & FINRA regulations
  • Strong oral and written communication skills are critical

Janney is dedicated to promoting and supporting diversity within our workplace.  We provide an environment that promotes respect, integrity, teamwork, achievement and acceptance regardless of age, disability, education, gender, gender expression, gender identity, job level, marital status, military status, national origin, parental status, pregnancy, race, religion, sexual orientation, socioeconomic status, or other protected factors. Janney is committed to equal employment opportunities and providing reasonable accommodations to applicants with physical and/or mental disabilities.

  • Janney Montgomery Scott LLC, 1717 Arch Street, Philadelphia, Pennsylvania, United States of America