Banking &Transfer Specialist
Company: tastytrade
Role: Banking & Transfer Specialist
Location: Chicago, IL – Hybrid (minimum 3 days/week in office)
Reports to: Senior Manager, Banking Operations
Licensure Required: FINRA Series 7 (or SIE and Series 7 Top-Off) and Series 63
Hours: 7 AM - 4 PM or 8 AM - 5 PM
As a Banking and Transfer Specialist with tastytrade, you will be a critical hands-on processor within our fast-paced Banking team. The ability to place trades relies on the timing of account funding, making this a crucial function to the operation of the firm. Your primary role is to act as a liaison between the client and clearing firm, moving assets internally as well as from other firms. You will help with processing ACATs, wires, checks, internal transfers, and ACH disbursements, while remaining the team's go-to resource for IRA-related distribution matters. This role represents the natural progression from Banking Support Specialist, taking on direct transaction-processing authority and serving as a mentor to newer team members while building the operational expertise needed for future advancement.
What You'll Do
Transaction Processing
Process all account transfers (ACATs) in a timely manner, including full and partial transfers from other brokerage firms
Manually review and process wires (domestic and international), checks, internal transfers, and ACH disbursements
Remain savvy with IRA-related matters and process IRA distributions including early withdrawals, RMDs, and qualified distributions
Scan checks into the internal system on a daily basis, ensuring accurate record-keeping and timely deposit
Process 401(k) rollovers and IRA transfers including direct rollovers, indirect rollovers, and 60-day rollover matters
Review and resolve ACAT rejections or documentation issues in coordination with contra firms
Escalation Handling & Complex Transaction Support
Serve as the escalation point for Banking Support Specialists on funding and transfer matters requiring hands-on processing judgment
Resolve complex transaction issues including rejected ACH transactions, bank verification failures, and micro-deposit confirmations
Handle escalated wire transfer inquiries including international wires, wire recalls, and wire instruction discrepancies
Coordinate with contra firms on ACAT issues, documentation problems, and account discrepancies
Customer & Frontline Team Support
Provide friendly, accurate, and efficient support via chat, email, and phone regarding any money movement-related matters
Serve as a specialized resource for Trade Desk and Concierge teams on complex funding, transfer, and distribution questions
Provide clear guidance to customers navigating ACAT timelines, fees, and transfer limitations
Compliance & Regulatory Adherence
Comply with industry Anti-Money Laundering (AML) regulations and assist the fraud team with monitoring and documentation
Identify and escalate suspicious funding activity, documentation irregularities, or potential fraud indicators
Maintain thorough documentation of transaction processing decisions for audit and regulatory purposes
Clearing Firm Collaboration
Collaborate with the clearing firm on a daily basis regarding transaction processing, settlement, and discrepancy resolution
Coordinate with clearing firm operations teams on ACAT processing, wire confirmations, and transaction failures
Mentorship & Team Support
Mentor and train Banking Support Specialists on transaction processing, documentation standards, and regulatory requirements
Share best practices and technical knowledge with the broader Banking team
Support onboarding of new Banking Support Specialists on funding types, transfer processes, and system tools
Process Improvement & Development
Provide input and recommendations for improvement regarding current banking policies, procedures, and technologies
Identify processing bottlenecks and propose solutions to improve transaction turnaround times and accuracy
Participate in testing new banking tools, workflows, or system enhancements
Career Development
Demonstrate consistent accuracy and sound judgment across complex transaction processing scenarios
Build leadership skills through mentoring Banking Support Specialists and supporting their development
Shadow the Head of Banking on workflow management, escalation handling, and cross-team coordination
Demonstrate readiness for advancement through sustained accuracy, mentorship impact, and cross-functional collaboration
Who You Are
Experience & Credentials
FINRA Series 7 (or SIE and Series 7 Top-Off) and Series 63 Certified
Currently or previously held a Banking Support Specialist role, or equivalent experience in banking operations
Minimum 1-3 years of experience in banking operations, brokerage operations, or a similar licensed role
Bachelor's degree or related work experience
Demonstrated track record of accuracy and sound judgment in transaction processing decisions
Technical & Regulatory Expertise
Strong understanding of ACAT transfer processes, wire processing, check handling, and ACH disbursements
Solid knowledge of IRA distribution rules, rollovers, 60-day rollover requirements, etc.
Basic understanding of trade settlements, options positions, and different security types
Familiarity with AML regulations and their application to funding and transfer operations
Familiarity with fraud detection patterns related to funding transactions and account transfers
Judgment & Decision-Making
Demonstrated ability to make sound decisions on complex transaction processing matters
Strong critical thinking abilities with a systematic approach to reviewing documentation and resolving discrepancies
Sound judgment on when to process independently versus escalate to the Head of Banking or Compliance
Mentorship & Communication Skills
Experience mentoring or training team members, with demonstrated success developing others' skills and confidence
Strong interpersonal skills, effective in customer interactions, and ability to identify appropriate solutions
Ability to collaborate with all departments within the company
Clear, professional communication across all levels for internal collaboration and customer interactions
Operational Skills
Skilled at processing high volumes of ACATs, wires, checks, and ACH disbursements accurately
Comfortable managing time-sensitive cutoffs for wire submissions, check deposits, and ACH batch processing
Able to prioritize competing transaction types (e.g., an urgent outgoing wire vs. a routine ACAT) based on funding deadlines and trade impact
Strong reconciliation skills for catching discrepancies between requested amounts, account balances, and clearing firm confirmations
Ability to manage a queue of pending IRA distribution requests, rollovers, and time-sensitive tax-related deadlines (e.g., RMDs, 60-day rollover windows)
Detail-oriented mindset with a willingness to learn and uphold applicable regulatory requirements
Willingness to collaborate with teammates to address time-sensitive issues
Strong organizational skills and ability to manage competing priorities across multiple transaction types
Company Perks + Benefits:
Performance Bonuses
Stock Purchase Options
Medical/Vision/Dental Benefits
401k Plan
20 Paid Vacation Days (plus an additional paid vacation day the month of your birthday!)
10 Paid Sick Days
Gym Membership Reimbursement
Commuter Benefits
Pet Insurance
Wellness & Mental Health Programs
Charitable Donation Matching
Two Paid Volunteer Days Off
Daily catered lunch when in the office
Full kitchen with snacks and beverages
In-building gym
Shuttle to/from Metra
Discretionary Performance Bonus: 5-10% of base salary based on individual and company performance.
Salary Range: $60,000-$80,000
About IGNA + tasty
IG North America is home to tastytrade, tastylive, and tastyfx—a family of brands built to democratize trading and empower individual investors. Founded in Chicago by the creators of thinkorswim, acquired by London-based IG Group in 2021, we combine startup innovation with the backing of a FTSE 100 fintech operating across five continents serving over 1.3m customers and handling billions of dollars in transactions – built on scale, trust, and proof.
From our headquarters in Chicago's Fulton Market, our team builds award-winning trading platforms, produces live financial education content daily, and creates technology that makes complex markets accessible. tastytrade is our retail brokerage for self-directed investing and trading, with tastylive providing content to educate our customers. tastyfx is the fastest-growing forex broker in the US.
We're a lean, collaborative team that values autonomy, pragmatism, and impact. Whether you're building technology, creating content, serving customers, or supporting operations, you'll work alongside people who are passionate about disrupting traditional finance and genuinely care about helping traders succeed. Our culture rewards initiative, embraces experimentation, and measures success by the value we create for our users. The bar is high – bring a curious and forward-thinking mindset and we'll give you the platform to define what comes next. Join us at IG|tasty – the future gets built here.
Location: Our office is in the West Loop - Chicago's growing center of tech, great cuisine, and high-end bars.
tastytrade | tastylive | tastyfx
1330 W Fulton Market, Chicago, IL 60607
*Don't meet every single requirement? Studies have shown that women and people of color are less likely to apply to jobs unless they have every single qualification. Our team is dedicated to building a diverse, inclusive, and authentic workplace, so if you’re excited about this role, but your experience doesn’t align perfectly, we encourage you to apply anyway. You may be just the right candidate for this or other roles!