Reconciliation Director
Fidelity Investments, Roanoke, TX, United States
The Role
As a Director in Fidelity Funds and Investment Operations (FFIO) Reconciliation Services, you will be in a business in which quality or timeliness issues can significantly impact Fidelity Investment’s financial health! Your role is essential to maintain high quality and timeliness of current reconciliation and reporting. The role requires multi-site coordination with operations and Business Partners to adequately manage Fidelity’s global securities investments. As the Director you lead and support all aspects of Bank, Tax, Non-depository, and Proxy Reconciliation including researching accounting system/custodian transactions and reclaim receivables/documentation. You will provide oversight into key group and organizational projects and initiatives and work alongside various levels of management and cross functional business partners.
The Expertise and Skills You Bring
5+ years of custody operations experience preferred
5+ years of experience in Reconciliation, Tax, or Fund Accounting
5+ years of management experience
Bachelor's degree required
Effective time management and prioritization skills
Strong presentation capability and excellent written and verbal communications skills
Innovative – looks for new ways to improve current processes and develops creative solutions
Consistent track record of people leadership skills (hiring, training, motivating, managing)
Experience leading departments of similar size and scale
Sharp judgment and consistent track record to logically identify, isolate and resolve problems
Strong solid understanding of project and relationship management
Ability to make decisions with limited/minimal oversight or guidance
In-depth understanding of the workings of the custody, accounting and investment operations industry
Detailed knowledge of accounting, tax implications, regulatory conditions, financial impact of transactions, trading implications, and global and domestic processing standards
Solid understanding of Mutual Fund Accounting and Pricing processes
Familiarization of all asset types including but not limited to Foreign Stocks and Bonds
Detailed knowledge of securities and monetary transactions with associated financial services industry systems, standards, and regulatory conditions
Ability to recognize high risk items and handle those items or seek assistance to minimize loss to either the shareholder and/or Fidelity
Provide functional and technical area expertise, oversight, problem resolution, training, analysis and reporting as the need arises across a variety of group responsibilities
Lead projects in the development of technology solutions and represents the department on projects led by business partners
Represent the department in cross-functional initiatives and in presentations to FFIO Senior Leadership Team
Accountable for ensuring client requests are processed within stated service level agreements and adhere to Fidelity and regulatory guidelines
Ensure that all processes have sufficient risk and compliance controls
Identify areas of risk and work to mitigate them
Ensure that functions associated with department responsibilities are addressed in a timely fashion
Monitor key performance indicators to address factors that are affecting customer experience
Work with managers and peers to recommend and implement changes to systems, processes, responsibilities, reporting, etc.
Provide strategic vision and long-range tactical plans within unit to ensure culture of continuous operational improvement
Delegate assignments, empower associates, and manage daily performance of the team
Handle second level escalations from all lines of Asset Management, including key internal and external business partners.
Monitor control reports and other workflow tools to ensure day-to-day activities are completed timely and accurately
The Team Fidelity Fund Investment Operations (FFIO) acts as a servicing center for FMR Co.'s trading desks globally, facilitating the confirmation and settlement of security and currency transactions with brokers and custodian banks. All position and cash transactions impact Funds’ Net Asset Value (NAV). FFIO’s primary goal is to ensure correct NAVs for Funds that FFIO services. Reconciliation is a key control to ensure transactions processed to the fund accounting systems are accurate and timely, which thereby ensures accurate Fund NAVs. Reconciliation Directors coordinate activities with many Business Partners across FMR to accomplish their responsibilities.
Certifications Category: Operations
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles. Some roles may have unique onsite requirements. Please consult with your recruiter for the specific expectations for this position.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.
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The Expertise and Skills You Bring
5+ years of custody operations experience preferred
5+ years of experience in Reconciliation, Tax, or Fund Accounting
5+ years of management experience
Bachelor's degree required
Effective time management and prioritization skills
Strong presentation capability and excellent written and verbal communications skills
Innovative – looks for new ways to improve current processes and develops creative solutions
Consistent track record of people leadership skills (hiring, training, motivating, managing)
Experience leading departments of similar size and scale
Sharp judgment and consistent track record to logically identify, isolate and resolve problems
Strong solid understanding of project and relationship management
Ability to make decisions with limited/minimal oversight or guidance
In-depth understanding of the workings of the custody, accounting and investment operations industry
Detailed knowledge of accounting, tax implications, regulatory conditions, financial impact of transactions, trading implications, and global and domestic processing standards
Solid understanding of Mutual Fund Accounting and Pricing processes
Familiarization of all asset types including but not limited to Foreign Stocks and Bonds
Detailed knowledge of securities and monetary transactions with associated financial services industry systems, standards, and regulatory conditions
Ability to recognize high risk items and handle those items or seek assistance to minimize loss to either the shareholder and/or Fidelity
Provide functional and technical area expertise, oversight, problem resolution, training, analysis and reporting as the need arises across a variety of group responsibilities
Lead projects in the development of technology solutions and represents the department on projects led by business partners
Represent the department in cross-functional initiatives and in presentations to FFIO Senior Leadership Team
Accountable for ensuring client requests are processed within stated service level agreements and adhere to Fidelity and regulatory guidelines
Ensure that all processes have sufficient risk and compliance controls
Identify areas of risk and work to mitigate them
Ensure that functions associated with department responsibilities are addressed in a timely fashion
Monitor key performance indicators to address factors that are affecting customer experience
Work with managers and peers to recommend and implement changes to systems, processes, responsibilities, reporting, etc.
Provide strategic vision and long-range tactical plans within unit to ensure culture of continuous operational improvement
Delegate assignments, empower associates, and manage daily performance of the team
Handle second level escalations from all lines of Asset Management, including key internal and external business partners.
Monitor control reports and other workflow tools to ensure day-to-day activities are completed timely and accurately
The Team Fidelity Fund Investment Operations (FFIO) acts as a servicing center for FMR Co.'s trading desks globally, facilitating the confirmation and settlement of security and currency transactions with brokers and custodian banks. All position and cash transactions impact Funds’ Net Asset Value (NAV). FFIO’s primary goal is to ensure correct NAVs for Funds that FFIO services. Reconciliation is a key control to ensure transactions processed to the fund accounting systems are accurate and timely, which thereby ensures accurate Fund NAVs. Reconciliation Directors coordinate activities with many Business Partners across FMR to accomplish their responsibilities.
Certifications Category: Operations
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles. Some roles may have unique onsite requirements. Please consult with your recruiter for the specific expectations for this position.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.
#J-18808-Ljbffr