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Asset Clearing Services Representative - Phone

Location Southlake, Texas, United States Requisition ID 2021-75128 Category Operations Position Type Regular
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Your Opportunity

An innovative culture has long been part of TD Ameritrade. Our clients are at the heart of everything we do, and we transform our business so that they can achieve success.  We are enablers… for our clients, for each other, and for the communities where we live and work. We build a culture that reflects our core values, fosters collaboration and courage, and allows us to execute and innovate as a team.  TD Ameritrade Brokerage Operations is looking for problem solvers, critical thinkers, and team players who want to be energized, developed, and rewarded.

The Representative for Asset Clearing Services:

  • Responsible for answering incoming calls from contra firms and internal associates concerning status updates and resolutions for transfer items currently in process. On average, the associate will handle around 40- 60 calls per day, depending on market conditions.
  • Responsible for reviewing, validation and submission of transfers submitted through the Automated Customer Account Transfers System (ACATS).
  • Review daily reports and compare them to account activity to determine if any business partner resolution is needed
  • Review and interpret Anti-Money Laundering practices and FINRA rules (FINRA Rule 11870)
  • Verify client data that would preclude the transfer from occurring
  • Move large sums of monies and/or securities out of the firm, to the tune of an aggregate average value of approximately $65 million daily
  • Communicate via email or phone call to resolve transfer issues and inquires with contra parties.

What you are good at

  • Inbound phone queue taking calls from third parties, clients, and internal
  • Validation of ACATS transfers on the ACATS systems
  • Process written and electronic client transfer requests to ensure proper completion of the transfer form by an authorized account holder. This includes signature verification and a full account review.
  • Interpret written and Electronic Transfer Requests to determine eligibility of the transfer request based on industry rules & regulations and business rules to mitigate and reduce risk to the firm and our clients
  • Review and interpretation of FINRA transfer rules (Rule 11870)
  • Calculate transfer values to determine level of approval required to satisfy appropriate department supervisory procedures
  • Analyze daily reports and compare them to account activity to determine if any business partner resolution is needed
  • Resolve issues ranging in scope while working with fellow peers to develop suitable solutions
  • Question and challenge processes to promote continuous improvement

What you have

  • Understanding of FINRA regulations, especially FINRA Rule 11870 preferred
  • Ability to learn, retain and apply new information and skills in an efficient and effective manner
  • Consistently remains solution focused and responsive to coaching.
  • High School Diploma or Equivalent
  • 4 Year College Degree in Finance, Economics, and/or Business preferred.
  • Prior financial services and customer service experience preferred.
  • Military education or experience may be considered in lieu of civilian requirements listed

Why work for us?

Own Your Tomorrow embodies everything we do! We are committed to helping our employees ignite their potential and achieve their dreams. Our employees get to play a central role in reinventing a multi-trillion-dollar industry, creating a better, more modern way to build and manage wealth.

Benefits: A competitive and flexible package designed to empower you for today and tomorrow. We offer a competitive and flexible package designed to help you make the most of your life at work and at home—today and in the future. Explore further.

Schwab is committed to building a diverse and inclusive workplace where everyone feels valued. As an Equal Opportunity Employer, our policy is to provide equal employment opportunities to all employees and applicants without regard to any status that is protected by law. Please click here to see the policy.

Schwab is an affirmative action employer, focused on advancing women, racial and ethnic minorities, veterans, and individuals with disabilities in the workplace. If you have a disability and require reasonable accommodations in the application process, contact Human Resources at or call 800-275-1281.

TD Ameritrade, a subsidiary of Charles Schwab, is an Equal Opportunity Employer. At TD Ameritrade we believe People Matter. We value diversity and believe that it goes beyond all protected classes, thoughts, ideas, and perspectives.

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