Associate Analyst, Brokerage Operations

Fidelity will not provide immigration sponsorship for this position.

Job Description:

The Role

Accounts Control Associate Analyst

Your interest in learning about Accounts Control and how it impacts the firm and the brokerage industry makes this role enticing for you.  You will be part of a team that analyzes, researches, and monitors exceptions in account balances and ensures the accuracy and integrity of the reports.

This position can be filled as a Senior Representative (level 2) or Associate Analyst (level 3) depending on skills and experience.

The Skills and Expertise You Bring

• Bachelor's degree in Finance or Business required
• Strong interest in financial services industry
• Clearing Broker/Dealer operations experience preferred
• 2 plus years brokerage operations/stock record experience
• Ability to read Stock record
• Knowledge of brokerage operations systems
• Excellent verbal and written communication and organization skills
• Ability to work effectively in a team environment including peers and all levels of management
• Strong interpersonal skills and attention to detail
• Strong analytical, research and problem solving skills
• Ability to multi-task and prioritize in order to meet deadlines
• Ability to enhance our reporting processes and system
• Intermediate to advanced knowledge of MS office applications (Excel, Word, PowerPoint)

Responsibilities include:

• Assist in the coordination of the Quarterly Security Physical Counts
• Analyze and research Stock Record and cash breaks to maintain accurate books and records
• Analyze, research and report exceptions on Fails file vs. Trial Balance for broker dealers and RVP/DVP accounts
• Analyze, reconcile and monitor Depository breaks for DTCC and BONY.
• Identify, report and monitor illogical street side exceptions
• Reconcile Foreign Depository, Tri-Party and external custodian accounts to identify differences and ensure resolution entries are processed correctly.
• Prepare and track outgoing quarterly audit broker fail, stock loan/borrow, transfer, conversion and repurchase agreement confirmation letters
• Verify and respond to all incoming quarterly audit confirmation requests from contra brokers.
• Monitor and track aged BDS/branch deposit stock transfer items
• Identify control enhancements/risk factors /improvement opportunities
• Interact with external auditors and examiners.
• Research and resolve escalated issues.
• Conduct integrity testing on system generated reports
• Assisting with operations reporting requirements and analysis
• Innovating and assisting with enhancements in the automation of processes and reporting
• Collaborating with others to assist in special projects and ad-hoc requests

The Team

You will be part of a team that performs various reconciliations that are intended to ensure the operational integrity of the firm's books and records. The reconciliations performed daily, weekly, monthly or quarterly, are designed to identify bookkeeping discrepancies and to alert operations management. You will be working with other business partners in the Operations and Service Group and Fidelity Capital Markets to research and report any variances in account balances. You will work to understand the impact to the firm, and also what steps need to be taken to remediate issues.

Fidelity’s broker dealers are required to submit financial and operational reports to our regulators. These reports are primarily for the protection of customers. The accuracy of the Stock record and broker confirmations is vital to the reputation and integrity of Fidelity and to the value and trust that customers place on the firm.

Fidelity’s Onsite Working Model
Fidelity is transitioning to a full-time onsite working model through a phased rollout across regions and roles. Currently, some roles and locations require 100% onsite presence, while others require less. Onsite expectations are likely to evolve as the rollout continues. This transition does not apply to fully remote roles.

The base salary range for this position is $48,000-91,000 USD per year.  

Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.

Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.   

We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home.  These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career.  Note, the application window closes when the position is filled or unposted.

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.

Certifications:

Category:

Operations