Fixed Income DTC Settlement Analyst

Job Description:

Preferred Qualifications:

Role Summary

The Fixed Income DTC Settlement Analyst is responsible for the end-to-end settlement of U.S. fixed income securities through The Depository Trust Company (DTC). The role focuses on ensuring timely settlement, minimizing fails, managing inventory and funding impacts.

Key Responsibilities

Settlement Execution (Fixed Income Focus)

• Manage daily DTC settlement of fixed income securities including:
• DVP/RVP, free of payment, and institutional deliveries
• REPO, Reverse REPO
• Stock Loan - Loanet
• Ensure timely settlement in a T+1 environment while meeting all market cut-offs
• Monitor and manage DTC settlement queues using Settlement Web / PTS
• Escalate high-risk exposures and aged fail items
• Drive resolution with counterparties, custodians, and internal trading desks
• Partner with funding/treasury teams to ensure sufficient liquidity

Reconciliation & Controls

• Perform daily reconciliation of:
• DTC positions vs. internal ledgers
• Cash balances and settlement activity
• Identify and resolve breaks with a strong control mindset
• Ensure adherence to operational risk and control frameworks

Stakeholder Management

• Act as key liaison between:
• Fixed Income Trading Desks
• Middle Office / Confirmations
• Funding & Treasury teams
• External counterparties and custodians
• Provide clear, timely updates on settlement risks and issues

Regulatory & Risk Compliance

• Ensure compliance with SEC, FINRA, and internal policies
• Support audits, inquiries, and control reviews

Process Improvement & Change Initiatives

• Identify opportunities to automate manual processes and improve STP rates
• Participate in system upgrades, testing, and platform migrations
• Drive operational scalability and risk reduction initiatives

Qualifications & Experience

Experience

• 5+ years of experience in fixed income securities operations
• Strong hands-on expertise with DTC settlement workflows
• Exposure to repo, Stock Loan and DTC Settlement is required

Systems & Tools

• DTC platforms (Settlement Web, PTS/PBS)
• Settlement systems (e.g., Broadridge)
• Stock Loan system (Loanet)

Skills & Competencies

• Strong analytical and problem-solving capabilities
• High attention to detail with a risk & control mindset
• Ability to perform in a high-volume, time-sensitive environment
• Effective communication with trading desks and senior stakeholders

Key Performance Indicators (KPIs)

• Timely resolution of exceptions and reconciliation breaks
• Accuracy of DTC positions and cash balances
• Improved settlement efficiency and STP rates
• Strong audit and control outcomes

Preferred Qualifications

• Bachelor's degree in finance, Business, or related field
• Experience at a broker-dealer or primary dealer environment

Depth & Scope:

• Acts as a specialist owner or representative in the discipline
• Leads / participates in the identification, development and implementation of new products, operating workflow, additional services/applications or operational efficiencies for Global Business Services
• Identifies documents, investigates, and resolves service delivery issues
• Manages relationships with the client, and other areas of TDS / GBS
• Acts as a project manager for small-scale projects/initiatives
• Initiates or participates in projects follows project management methodologies, communicates project status and provides timely escalation of issues to senior management to ensure project objectives are met
• Interfaces with regulators, external groups (legal firms, accountants etc.), suppliers on operating and service delivery issues relative to the specific area of functional expertise as authorized by the manager
• Escalates non-standard or high risk transactions or other activities as appropriate
• Acquires and applies expertise in the discipline, provides guidance, assistance and direction to others in TD Securities
• Identifies recommend and effectively executes standard practices applicable to the discipline
• Analyzes service delivery issues and identifies potential solutions that enhance the customer experience and support TD Securities business objectives
• Protects the interests of the firm identifies and manages risks
• Completes business process reviews as required

Education & Experience:

• Bachelor's degree, or specialized training / equivalent work experience
• 3-4 years related experience

Who We Are

TD Securities offers a wide range of capital markets products and services to corporate, government, and institutional clients who choose us for our innovation, execution, and experience. With more than 6,500 professionals operating out of 40 cities across the globe, we strive to make every interaction, product and experience remarkably human and refreshingly simple. Our services include underwriting and distributing new issues, providing trusted advice and industry-leading insight, extending access to global markets, and delivering integrated transaction banking solutions. In 2023, we acquired Cowen Inc., offering our clients access to a premier U.S. equities business and highly-diverse equity research franchise, while growing our strong, diversified investment bank.

Together, we are reimagining what banking can be for our clients, colleagues and communities.

Our Total Rewards Package

Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals. Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition.