Key Responsibilities and Required Skills for Brokerage Assistant

🎯 Role Definition

The Brokerage Assistant supports broker-dealers and financial advisors by executing trade processing, client onboarding, account maintenance, and operational controls to ensure timely, accurate, and compliant delivery of custody and execution services. The role combines trade support, client-facing communications, regulatory compliance tasks (KYC/AML), and operational reconciliation across clearing and custody platforms. Strong attention to detail, institutional trade knowledge (equities, fixed income, mutual funds), and proficiency with order management and clearing systems are critical.

📈 Career Progression

Typical Career Path

Entry Point From:

Client Service Representative (Custody / Wealth Management)
Operations Analyst or Trade Support Intern
Back Office Associate at a bank or broker-dealer

Advancement To:

Senior Brokerage Assistant / Senior Trade Support Specialist
Brokerage Operations Supervisor or Team Lead
Registered Broker (Series 7/63) or Relationship Manager

Lateral Moves:

Client Onboarding Specialist
Reconciliation Analyst
Compliance Analyst (KYC/AML focus)

Core Responsibilities

Primary Functions

Process daily client and institutional securities transactions (equities, fixed income, mutual funds, ETFs) end-to-end—capture orders, verify allocations, route to execution venues, and confirm fills in the Order Management System (OMS) or execution platform.
Reconcile trade blotters, position reports, and cash movements against clearing and custody statements (DTCC/NSCC or custodial feeds) to identify and resolve settlement breaks within SLA timelines.
Perform same-day and next-day trade settlement activities, including allocation of pooled trades, trade affirmation, and coordination with clearing firms and custodians to ensure fails are remediated promptly.
Manage account maintenance requests: open/close accounts, change ownership or registration, update beneficiary, margin and transfer instructions, and verify signatures/POAs in accordance with internal controls.
Execute client onboarding activities: gather and verify new account documentation, perform KYC/AML screenings, complete risk profiling questionnaires, and escalate suspicious findings to Compliance/AML teams.
Prepare and deliver client confirmations, contract notes, and reporting packages; ensure regulatory and client-specific disclosures are attached and maintained in the client file.
Monitor margin requirements, margin calls, and collateral movements; calculate margin risks, notify advisors/clients, and coordinate remedial actions with the margin desk.
Investigate and resolve trade and settlement discrepancies by liaising with brokers, counterparties, custodians, and internal trading desks; document root causes and corrective actions.
Maintain and update trade and account data in CRM and back-office systems (e.g., Salesforce, Advent, Schwab, Pershing) to ensure data integrity across front-to-back processes.
Prepare daily exception and escalation reports for management summarizing unsettled trades, corporate action exceptions, and operational risks with recommended remediation steps.
Support corporate actions processing: review notices, determine entitlements, apply elections, and coordinate with clients/advisors to ensure timely response and accurate account adjustments.
Verify and process funds transfers, internal journal entries, wire instructions and ACH transactions while ensuring anti-fraud controls and dual-authority processes are followed.
Assist with regulatory reporting and record-keeping requirements (SEC, FINRA, local regulators) by compiling required trade and account documentation for audits and exams.
Execute periodic account and cash reconciliations (daily/weekly/monthly) to identify stale items, unprocessed transactions, and stale balances; propose and implement reconciliations improvements.
Support new product launches and system migrations by testing trade flows, validating configurations, and documenting operational procedures to minimize go-live risk.
Coordinate the allocation and settlement of IPOs, mutual fund and new issuance transactions including contribution/withdrawal mechanics and book-building workflows when applicable.
Maintain up-to-date knowledge of market holidays, settlement cycles (T+1/T+2), and instrument-specific rules to prevent processing errors and ensure compliance.
Manage and prioritize high-volume inbound client and advisor inquiries (phone and email) related to trade status, confirmations, fees, and account discrepancies with professional, timely responses.
Assist with fee billing, commission reconciliation, and billing disputes by reviewing fee schedules, extracting billing reports, and coordinating adjustments with Finance.
Document operational procedures, create knowledge base articles, and deliver training to junior staff to ensure consistent execution of back-office processes and business continuity.
Conduct continuous process improvement initiatives: identify inefficiencies in trade processing workflows, propose automation opportunities, and participate in cross-functional projects.
Maintain strict adherence to internal control frameworks, segregation of duties, and operational risk policies to protect client assets and meet regulatory expectations.
Escalate complex or high-risk issues to senior operations, compliance or legal teams while providing clear, documented timelines and impact assessments.

Secondary Functions

Support ad-hoc reporting requests for senior management, product teams, or compliance (e.g., fail rates, operational KPIs, aging reconciliations).
Assist with internal and external audits by gathering evidence, preparing explanations for exceptions, and implementing agreed remediation actions.
Participate in testing and validation for system upgrades, OMS/OMS integrations, and straight-through processing (STP) improvements.
Collaborate with relationship managers and sales teams to create client-ready reporting and to streamline account setup and funding processes.
Maintain up-to-date SOPs, runbooks and playbooks for business continuity, including cross-training to cover peak periods and staff absences.
Support regulatory change initiatives by assessing operational impacts, updating procedures, and executing workflow changes across the operations team.
Liaise with IT and vendors to troubleshoot platform issues, prioritize defect fixes, and coordinate fixes or workarounds for high-impact incidents.
Conduct spot checks and quality control reviews of trade tickets, account updates, and reconciliation outputs to ensure accuracy.
Participate in onboarding and mentoring of new hires and interns, including delivering classroom or hands-on training modules.
Help prepare materials and analyses for client meetings, including portfolio trade activity summaries and historical transaction reports.

Required Skills & Competencies

Hard Skills (Technical)

Trade processing and settlement knowledge (equities, fixed income, mutual funds, ETFs) with hands-on experience using Order Management Systems (OMS) and middle/back-office platforms.
Proficiency with industry clearing and settlement platforms and protocols (DTCC, NSCC, SWIFT, ACH) and an understanding of settlement cycles (T+1/T+2).
Advanced Excel skills (VLOOKUP/XLOOKUP, INDEX/MATCH, pivot tables, conditional formatting) for reconciliation and reporting.
Familiarity with CRM and portfolio/accounting systems (e.g., Salesforce, Advent Geneva/Black Diamond, Envestnet, Pershing, Schwab, Fidelity).
Experience with trade allocation, affirmation/confirmation workflows, and corporate actions processing.
Knowledge of KYC/AML processes, sanctions screening, and regulatory compliance requirements (FINRA, SEC, CFTC as relevant).
Reconciliation tools and techniques for position, cash and commission reconciliation; experience with automated reconciliation engines is a plus.
Ability to use market data and terminal tools (Bloomberg, Refinitiv/Reuters) for trade verification and price confirmation.
Exposure to margin calculations, collateral management and basic understanding of prime broker relationships.
Familiarity with vendor platforms and integration concepts (API/CSV file feeds, FIX protocol) and basic troubleshooting of automated feeds.
Experience preparing documentation for audits, regulatory exams and internal control testing.
Basic scripting or macro development (VBA, Python) for process automation considered a plus.

Soft Skills

Exceptional attention to detail and accuracy when handling high-volume transactions and confidential client data.
Strong verbal and written communication skills to liaise with clients, brokers, custodians, and internal stakeholders.
Problem-solving mindset with the ability to investigate complex exceptions, identify root causes, and implement corrective actions.
Time management and prioritization under tight deadlines and fluctuating market pressures.
Customer service orientation with a professional demeanor in client-facing interactions.
Team player who collaborates across trading, compliance, and technology teams.
Adaptability and willingness to learn new systems and regulatory requirements quickly.
Sound judgment and ability to escalate appropriately when encountering high-risk or ambiguous issues.
Process improvement mindset, comfortable participating in projects, testing, and change control activities.
Confidentiality and ethical standards consistent with handling sensitive financial information.

Education & Experience

Educational Background

Minimum Education:

High school diploma or equivalent required; associate degree or relevant certifications preferred.

Preferred Education:

Bachelor’s degree in Finance, Business, Economics, Accounting, or related field preferred.
Professional certifications a plus: Series licenses (e.g., Series 7, 63, 66), CAMS, or operations-related certifications.

Relevant Fields of Study:

Finance
Business Administration
Economics
Accounting
Financial Services Operations

Experience Requirements

Typical Experience Range:

1–4 years of brokerage operations, trade support, or custody/back-office experience for mid-level roles.
Entry-level hires may be 0–2 years if supported by internship or relevant coursework.

Preferred:

2–4+ years supporting broker-dealers, custodians, or wealth management operations with demonstrable experience in trade processing, reconciliation, and KYC/AML workflows.
Prior exposure to institutional or retail brokerage environments and familiarity with regulatory frameworks and clearing processes.