Reconciliation Director

Fidelity Investments•Westlake, TX

2d•Hybrid

About The Position

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 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.

Requirements

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

Responsibilities

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 lead 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