Product Manager, Clearing Systems Remote - Americas

Alpaca is a US-headquartered, global leader in agent-first brokerage infrastructurefor stocks, ETFs, options, crypto, fixed income, 24/5 trading, and more. Amongst our subsidiaries, Alpaca is a licensed financial services company, serving hundreds of financial institutions across 40 countries with our institutional-grade APIs. This includes broker-dealers, investment advisors, wealth managers, hedge funds, and crypto exchanges, totalling over 10 million brokerage accounts. Our global team is a diverse group of experienced engineers, traders, and brokerage professionals who are working to achieve our mission of opening financial services to everyone on the planet. We're deeply committed to open-source contributions and fostering a vibrant community, continuously enhancing our award-winning, developer-friendly API and the robust infrastructure behind it. Alpaca is proudly backed by $400 million in funding from top-tier global investors including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Opera Tech Ventures, SBI Group, Derayah Financial, Unbound, Peak XV, Elefund, and Y Combinator. Our Team Members: We're a dynamic team of 400+ globally distributed members who thrive working from our favorite places around the world, with teammates spanning the USA, Canada, Japan, Hungary, Nigeria, Brazil, the UK, and beyond! We're searching for passionate individuals eager to contribute to Alpaca's rapid growth. If you align with our core values—Stay Curious, Have Empathy, and Be Accountable—and are ready to make a significant impact, we encourage you to apply. Your Role Alpaca is building the next generation of global brokerage and clearing infrastructure. We are looking for a senior product manager who can own the clearing systems product lifecycle at a rapidly scaling self-clearing broker-dealer. Your mission is to build and operate the systems and processes that keep Alpaca accurate, compliant, and on time across areas like core brokerage, clearing, ledger, custody, money movement, and multi-currency infrastructure. You will make clearing scale reliably as Alpaca adds asset classes, account types, trading hours, and partner institutions, and as we run a true self-clearing book at DTCC, OCC, and FICC. This person should be able to walk into ambiguity, understand the full clearing lifecycle, design the architecture, build a working prototype, and lead a team toward production-grade infrastructure. The role sits at the intersection of product, engineering, operations, finance, compliance, and regulatory infrastructure. What You’ll Own You will lead the design and buildout of Alpaca’s core clearing infrastructure across brokerage, custody, ledger, asset movement, and global market expansion. This includes: • Defining the long-term architecture for Alpaca’s clearing platform across accounts, positions, balances, ledgers, journals, settlements, stock record, and regulatory books and records. • Designing multi-currency cash and position systems that can support global equities, FX, fractional trading, options, bonds, Treasuries, fixed income, mutual funds, and other asset classes. • Partnering with engineering to prototype and build new clearing services rather than relying only on third-party service bureau workflows. • Working cross-functionally with operations, finance, treasury, compliance, legal, risk, and product to ensure the platform is scalable, controlled, and regulator-ready. • Translating complex clearing, custody, and regulatory requirements into clear product and engineering requirements. • Helping Alpaca grow from U.S.-centric brokerage infrastructure into a global, multi-asset, multi-currency clearing platform. Who You Are (Must-Haves) • 5+ years in Product Management, technical program management, or engineering on brokerage, clearing, or post-trade infrastructure. • 10+ years of experience in brokerage, clearing, custody, prime brokerage, trading infrastructure, financial market infrastructure, or capital markets technology. • Demonstrated depth on at least one clearing surface: settlement and stock record, books and records, corporate actions, margin, ACATS, DTCC processing. • Highly technical. Ability to work directly with engineers and product teams to turn complex domain requirements into scalable system designs. • Comfort shipping in parallel with Compliance, Legal, and Operations in a regulated broker-dealer environment. • Strong operating judgment to weigh risk, operational efficiency, capital allocation, tech feasibility, time, and budget. • Experience leading senior teams and influencing across functions in a high-growth environment. Who You Might Be (Nice-to-Haves) • You helped build, convert, or modernize corporate-action processing, a security master, or a self-clearing back office. • Experience with global brokerage expansion, including international equities, FX, local market custody, omnibus models, sub-ledgers, and currency controls. • Familiarity with the B2B2C correspondent / broker-as-a-service model. • AI-native PM workflow: recurring use of tools like Cursor, Claude, ChatGPT, or custom agents in PRD drafting, incident synthesis, data exploration, and prototyping. Example Problems You Should Be Comfortable Solving • How should stock record reconcile to DTC, custodians, omnibus providers, internal ledgers, trading systems, and customer-facing balances? • How should global equities, FX, fractional shares, options, fixed income, Treasuries, and mutual funds fit into one clearing architecture? • How should a multi-currency brokerage ledger represent trades, settlements, FX conversions, fees, financing, journals, and custody balances? • How should cashiering, ACH, wires, ACATS, journals, reversals, and transfer exceptions be represented in ledger and operations systems? • How should possession or control, segregation, fully paid lending, margin, reserve, and reconciliation controls be embedded into the platform instead of handled as manual after-the-fact processes? How We Take Care of You: • Competitive Salary & Stock Options • New Hire Home-Office Setup: One-time USD $500 • Monthly Stipend: USD $150 per month via a Brex Card Alpaca is proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse workforce. Voluntary Self-Identification For government reporting purposes, we ask candidates to respond to the below self-identification survey. Completion of the form is entirely voluntary. Whatever your decision, it will not be considered in the hiringprocess or thereafter. Any information that you do provide will be recorded and maintained in aconfidential file. As set forth in Alpaca ’s Equal Employment Opportunity policy,we do not discriminate on the basis of any protected group status under any applicable law. If you believe you belong to any of the categories of protected veterans listed below, please indicate by making the appropriate selection.As a government contractor subject to the Vietnam Era Veterans Readjustment Assistance Act (VEVRAA), we request this information in order to measurethe effectiveness of the outreach and positive recruitment efforts we undertake pursuant to VEVRAA. Classification of protected categoriesis as follows: A "disabled veteran" is one of the following: a veteran of the U.S. military, ground, naval or air service who is entitled to compensation (or who but for the receipt of military retired pay would be entitled to compensation) under laws administered by the Secretary of Veterans Affairs; or a person who was discharged or released from active duty because of a service-connected disability. A "recently separated veteran" means any veteran during the three-year period beginning on the date of such veteran's discharge or release from active duty in the U.S. military, ground, naval, or air service. An "active duty wartime or campaign badge veteran" means a veteran who served on active duty in the U.S. military, ground, naval or air service during a war, or in a campaign or expedition for which a campaign badge has been authorized under the laws administered by the Department of Defense. An "Armed forces service medal veteran" means a veteran who, while serving on active duty in the U.S. military, ground, naval or air service, participated in a United States military operation for which an Armed Forces service medal was awarded pursuant to Executive Order 12985. Select... Voluntary Self-Identification of Disability Form CC-305 Page 1 of 1 OMB Control Number 1250-0005 Expires 07/31/2029 Why are you being asked to complete this form? We are a federal contractor or subcontractor. The law requires us to provide equal employment opportunity to qualified people with disabilities. We have a goal of having at least 7% of our workers as people with disabilities. The law says we must measure our progress towards this goal. To do this, we must ask applicants and employees if they have a disability or have ever had one. People can become disabled, so we need to ask this question at least every five years. Completing this form is voluntary, and we hope that you will choose to do so. Your answer is confidential. No one who makes hiring decisions will see it. Your decision to complete the form and your answer will not harm you in any way. If you want to learn more about the law or this form, visit the U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) website at www.dol.gov/ofccp . How do you know if you have a disability? A disability is a condition that substantially limits one or more of your “major life activities.” If you have or have ever had such a condition, you are a person with a disability. Disabilities include, but are not limited to: • Alcohol or other substance use disorder (not currently using drugs illegally) • Autoimmune disorder, for example, lupus, fibromyalgia, rheumatoid arthritis, HIV/AIDS • Blind or low vision • Cancer (past or present) • Cardiovascular or heart disease • Celiac disease • Cerebral palsy • Deaf or serious difficulty hearing • Diabetes • Disfigurement, for example, disfigurement caused by burns, wounds, accidents, or congenital disorders • Epilepsy or other seizure disorder • Gastrointestinal disorders, for example, Crohn's Disease, irritable bowel syndrome • Intellectual or developmental disability • Mental health conditions, for example, depression, bipolar disorder, anxiety disorder, schizophrenia, PTSD • Missing limbs or partially missing limbs • Mobility impairment, benefiting from the use of a wheelchair, scooter, walker, leg brace(s) and/or other supports • Nervous system condition, for example, migraine headaches, Parkinson’s disease, multiple sclerosis (MS) • Neurodivergence, for example, attention-deficit/hyperactivity disorder (ADHD), autism spectrum disorder, dyslexia, dyspraxia, other learning disabilities • Partial or complete paralysis (any cause) • Pulmonary or respiratory conditions, for example, tuberculosis, asthma, emphysema • Short stature (dwarfism) • Traumatic brain injury Disability Status Select... PUBLIC BURDEN STATEMENT: According to the Paperwork Reduction Act of 1995 no persons are required to respond to a collection of information unless such collection displays a valid OMB control number. This survey should take about 5 minutes to complete. We use Greenhouse’s AI-powered Talent Matching tool to compare your application against our job requirements. #J-18808-Ljbffr