Director - NFS Brokerage Tsy Operations - Bank Cash Admin
About The Position
The Director of Cash Management and Banking Administration is a leadership role responsible for overseeing National Financial Services (NFS, LLC) banking relationships and related operational activities. The role serves as a senior point of contact for banking partners and ensures effective execution, governance, and optimization of bank-related services supporting firm and client needs. The position is part of Fidelity’s Operations and Service Group (OSG), Account, Treasury and Tax Services Division (ATTS). The Treasury Operations team oversees brokerage money movement and cash operations through functions including Cash Management Services, Cash Management Administration, Product Management, Portfolio Management, and Money Movement Controls and Production Support. The team manages daily concentration of check deposit funds, supports cash management transaction processing, executes settlements, maintains banking and account infrastructure, advances cash and payment capabilities, and maintains operational controls and production stability.
Requirements
- Bachelor’s degree.
- 10 or more years of experience in bank operations, banking administration, or a related financial services field.
- Proven leadership experience managing high-performing operational teams.
- Deep knowledge of banking products, treasury services, cash concentration, and settlement processes.
- Strong understanding of bank documentation, contracts, entitlement governance, and invoice validation.
- Excellent analytical, communication, and relationship-management skills.
- Ability to navigate matrixed organizations and collaborate across business, technology, risk, and legal functions.
Responsibilities
- Serve as the primary liaison to strategic banking partners.
- Lead ongoing bank performance and service reviews, including formal bank scorecard evaluations.
- Monitor service quality, pricing, and operational performance across banking partners.
- Oversee administration of NFS, LLC bank accounts, including account openings, maintenance, documentation, and closures.
- Ensure authorized signers are accurately and currently maintained.
- Review, validate, and approve banking invoices, ensuring charges are accurate, documented, and paid on schedule.
- Manage banking contracts and renewals in partnership with legal, risk, and procurement teams.
- Oversee daily cash concentration for clearing house funds and provide oversight for cash management settlements.
- Ensure adherence to internal controls, regulatory requirements, and industry best practices across bank administration processes.
- Provide administrative oversight and operational support for the FDIC Sweep program, ensuring accurate account setup.
- Collaborate with product, technology, and operations teams to improve client experience and process efficiency.
- Develop a high-performing team through coaching, mentoring, and workforce planning.
Benefits
- Comprehensive health care coverage
- Emotional well-being support
- Market-leading retirement benefits
- Generous paid time off
- Parental leave
- Charitable giving employee match program
- Educational assistance, including student loan repayment and tuition reimbursement
- Learning resources to develop your career
- Potential bonus or other variable compensation, depending on position and eligibility
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What This Job Offers
Job Type
Full-time
Career Level
Director
