VP, Private Bank Strategy & Relationships
About The Position
The VP, Private Bank Strategy & Relationships serves as the Treasury point of contact for FMR LLC’s private banking relationships and supports the Corporate Treasury Bank Strategy team. The role oversees private bank administration, relationships, performance management, and FMR’s portfolio of minority investments in banks. It works extensively with senior leaders across the company and partners with business units and teams across FMR to optimize bank relationships, products, systems, and controls. The position helps develop and manage private bank relationships and investments, including due diligence, price and legal document negotiations, credit facilities, deposit placements, product development and implementation, performance monitoring, governance, reporting, and risk management. It also coordinates technology improvements with internal teams and bank partners.
Requirements
- Ability to oversee a portfolio of minority investments in banks while pursuing the interests of FMR, LLC.
- Ability to deepen and build FMR’s external private and public banking relationships.
- Knowledge to contribute to or lead the structuring of credit facilities, loan agreement negotiations, and deposit placements with banks.
- Deep understanding of financial services and banking business models and regulatory constructs.
- Understanding of the fintech landscape.
Responsibilities
- Serve as the Treasury point of contact for FMR LLC’s private banking relationships.
- Provide oversight, controls, and management for bank administration activities for private bank partners, and partner with business units to determine optimal use of bank partners’ balance sheets.
- Facilitate investments in new private bank partners with Corporate Development, including price negotiation, due diligence, legal document negotiations, and preparation of investment approval materials.
- Provide strategic direction and oversight for Fidelity’s private bank performance management program.
- Ensure the bank assessment system continues to meet stakeholder requirements and enhance it as appropriate.
- Oversee development and maintenance of a comprehensive reporting suite for senior management, operations management, and day-to-day internal and external personnel.
- Ensure appropriate participation across the organization.
- Monitor product overlaps between Fidelity and private bank partners to optimize engagement, including bundling opportunities.
- Oversee the portfolio of minority investments in banks and monitor their financial performance.
- Coordinate new product development with relevant groups across FMR.
- Execute launches or implementations of new products, including required legal documents and process establishment.
- Track performance of products launched with private bank partners.
- Ensure appropriate FMR governance, including Board seats and quarterly CFO calls.
- Create a forum for bank portfolio companies to share best practices and ideas.
- Address audit and risk findings and develop adequate controls, policies, and procedures in response.
- Monitor reliance on bank partners and their exposure to financial-market changes, and develop contingency plans for extreme market conditions.
- Coordinate with Treasury Risk, Treasury Operations, Technology Risk Management, AI Innovation, and Human Resources to implement improvements and upgrades to key systems and work with bank partners on new technology implementations.
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
- Bonus or other variable compensation, depending on position and eligibility requirements
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What This Job Offers
Job Type
Full-time
Career Level
Executive
Education Level
No Education Listed
