Product Manager, Clearing Systems

About the company

Alpaca provides API-based brokerage infrastructure that lets fintechs and financial institutions embed trading in stocks, ETFs, options and fixed-income products for customers worldwide.

About this role

<div class="content-intro"><p><strong>Who We Are:</strong></p> <p><strong>Alpaca is a US-headquartered, global leader in agent-first brokerage infrastructure&nbsp;</strong>for stocks, ETFs, options, crypto, fixed income, 24/5 trading, and more.<br><br>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.<br><br>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.<br><br><strong>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.</strong><br><br><strong>Our Team Members:</strong></p> <p>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!<br><br>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.</p></div><h2><span style="font-size: 12pt;">Your Role</span></h2> <p><span style="font-size: 12pt;">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.&nbsp;</span></p> <p><span style="font-size: 12pt;">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.</span></p> <p><span style="font-size: 12pt;">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.</span></p> <h2><span style="font-size: 12pt;">What You’ll Own</span></h2> <p><span style="font-size: 12pt;">You will lead the design and buildout of Alpaca’s core clearing infrastructure across brokerage, custody, ledger, asset movement, and global market expansion.</span></p> <p><span style="font-size: 12pt;">This includes:</span></p> <ul> <li style="font-size: 12pt;"><span style="font-size: 12pt;">Defining the long-term architecture for Alpaca’s clearing platform across accounts, positions, balances, ledgers, journals, settlements, stock record, and regulatory books and records.</span></li> <li style="font-size: 12pt;"><span style="font-size: 12pt;">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.</span></li> <li style="font-size: 12pt;"><span style="font-size: 12pt;">Partnering with engineering to prototype and build new clearing services rather than relying only on third-party service bureau workflows.</span></li> <li style="font-size: 12pt;"><span style="font-size: 12pt;">Working cross-functionally with operations, finance, treasury, compliance, legal, risk, and product to ensure the platform is scalable, controlled, and regulator-ready.</span></li> <li style="font-size: 12pt;"><span style="font-size: 12pt;">Translating complex clearing, custody, and regulatory requirements into clear product and engineering requirements.</span></li> <li style="font-size: 12pt;"><span style="font-size: 12pt;">Helping Alpaca grow from U.S.-centric brokerage infrastructure into a global, multi-asset, multi-currency clearing platform.</span></li> </ul> <h2><span style="font-size: 12pt;">Who You Are (Must-Haves)</span></h2> <ul> <li style="font-size: 12pt;"><span style="font-size: 12pt;">5+ years in Product Management, technical program management, or engineering on brokerage, clearing, or post-trade infrastructure.</span></li> <li style="font-size: 12pt;"><span style="font-size: 12pt;">10+ years of experience in brokerage, clearing, custody, prime brokerage, trading infrastructure, financial market infrastructure, or capital markets technology.</span></li> <li style="font-size: 12pt;"><span style="font-size: 12pt;">Demonstrated depth on at least one clearing surface: settlement and stock record, books and records, corporate actions, margin, ACATS, DTCC processing.</span></li> <li style="font-size: 12pt;"><span style="font-size: 12pt;">Highly technical. Ability to work directly with engineers and product teams to turn complex domain requirements into scalable system designs.</span></li> <li style="font-size: 12pt;"><span style="font-size: 12pt;">Comfort shipping in parallel with Compliance, Legal, and Operations in a regulated broker-dealer environment.&nbsp;</span></li> <li style="font-size: 12pt;"><span style="font-size: 12pt;">Strong operating judgment&nbsp; to weigh risk, operational efficiency, capital allocation, tech feasibility, time, and budget.</span></li> <li style="font-