Manager, Brokerage Operations
About The Position
The Operations Repo Specialist is responsible for the seamless execution, settlement, and lifecycle management of repurchase agreement (Repo) transactions used for collateral reinvestment. This role acts as the operational backbone for the Agency Lending desk, ensuring that all cash and securities movements are reconciled, risk-controlled, and compliant with client mandates. The Operations and Services Group (OSG) provides superior customer service to Fidelity’s brokerage businesses through innovation, dedication and commitment to excellence. With seven operating divisions located throughout the country, OSG provides securities execution, clearance, and information management services to retail, institutional, and correspondent clients. OSG performs tens of thousands of over the counter, listed equities, options, bonds, and mutual fund transactions daily. OSG has a need for a Brokerage Representative in the Fidelity Agency Lending Operations area.
Requirements
- 3–5 years in Securities Finance Operations , Repo Middle/Back Office, or Collateral Management.
- Hands-on experience with settlement systems such as Global One, Pirum, Loanet, or Swift.
- Solid understanding of the mechanics of Repo/Reverse Repo, U.S. Treasury/Agency market, and the Securities Lending lifecycle.
- Ability to quickly diagnose and fix settlement fails under tight market deadlines.
- Comfortable working across desks, including Trading, Treasury, and Credit Risk.
Responsibilities
- Oversee the daily settlement of bilateral and tri-party Repo trades, ensuring timely delivery of collateral and cash via Fedwire and external vendors.
- Monitor daily collateral valuations and manage margin calls.
- Ensure all pledged assets meet specific client eligibility criteria.
- Perform daily cash and position reconciliations.
- Investigate and resolve trade discrepancies (fails) to mitigate TMPG charges and financial exposure.
- Monitor and resolve bond settlement fails and maintain records for counterparty charges.
- Oversee repo settlement, reconcile custody records for interest/coupon activity, and ensure compliance with KYC/AML protocols.
Benefits
- comprehensive health care coverage
- emotional well-being support
- market-leading retirement
- generous paid time off
- parental leave
- charitable giving employee match program
- educational assistance including student loan repayment
- tuition reimbursement
- learning resources to develop your career
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
