Fidelity Canada Looking for Credit Risk Specialist at Toronto, Ontario, Canada Full Time

You will be working on a flexible hybrid schedule as part of Fidelity’s dynamic working arrangement.

Business Overview

Fidelity Clearing Canada (FCC) is the leading independent clearing broker and custodian in the Canadian market. We provide trade execution, clearing, custody and back-office support services to Canadian-based brokerage firms and the Canadian brokerage arms of U.S.-based firms.

For more information about Fidelity Clearing Canada, please visit https//clearing.fidelity.ca/

What You Will Do

The Credit Risk Specialist is responsible for monitoring and providing credit risk analysis on Introducing Brokers (IBs) and Portfolio Managers (PMs) accounts and activities. This role ensures compliance with external regulations and internal FCC Policies and Procedures (P&Ps). These responsibilities include monitoring client accounts and approving asset movements. The incumbent is also responsible for producing regular and ad hoc reports.

• Review, assess, and report on client and firm account deficiencies to ensure timely resolution to account shortfalls. Execute sellouts on overdue deficient accounts or accounts that pose an imminent credit risk.
• Escalate to management potential credit risks related to specific client accounts or accounts that hold principle positions.
• Demonstrate a good understanding of CIRO rules, regulations, and conducts pertaining to client margin and cash accounts. Ensure that clients are adhering to FCC’s house policies and the Canadian regulatory rules, regulations, and guidelines.
• Review and approve client withdrawals (cheque, wire transfer and electronic fund transfer) in a timely manner. This includes reviewing accounts to ensure withdrawals will not put a client into a deficient position.
• Monitor and approve cash and securities movements in accordance with SLA’s and Credit Risk and Compliance policies.
• Review and deliver timely, accurate resolutions to internal and external client email requests pertaining to credit risk issues, asset movements, internal policies, and general inquiries.
• Foster and build relationships with introducing brokers and portfolio managers to ensure FCC’s credit and risk policies and procedures are understood, supported, and reinforced to target best practices that contribute to FCC’s risk vision.
• Complete reporting to internal stakeholders and Senior Management Team. This includes compiling and analyzing data into regular and ad-hoc reports, and dashboards.
• Keeps abreast of economic and markets developments by using Bloomberg and/or Google Finance to inform decision making and credit risk policies.

Experience

What We’re Looking For

• Minimum 3 years’ experience in the financial services industry preferably in the brokerage industry.
• Broad understanding and experience with risk management methodologies, particularly credit risk.

Education

• Completion of post-secondary degree/diploma, preferably in Finance, Mathematics, Economics, or a related field – or equivalent experience.
• Completion of Conduct and Practice Handbook (CPH) and Canadian Securities Course (CSC) preferred.

Expertise You Will Bring

• Strong knowledge of capital markets and industry regulations
• Strong Excel and VBA skills
• Demonstrated ability to organize and manage multiple tasks simultaneously
• Excellent interpersonal, verbal, and written communication skills
• Strong analytical and problem-solving skills
• Strong client service orientation
• Self-motivated, detail oriented and takes initiative

Current work authorization for Canada is required for all openings.

Fidelity Canada is an equal opportunity employer

Fidelity Canada is committed to fostering a diverse and inclusive workplace. We will consider all qualified applicants for employment regardless of race, color, religion, sex, sexual orientation, gender identity or expression, national or ethnic origin, age, disability, family status, protected veterans’ status, Aboriginal/Native American status or any other legally-protected ground.

Accommodation during the application process

Fidelity Canada welcomes and encourages applications from people with disabilities. Accommodations are available on request for candidates taking part in the selection process. If you require an accommodation, please email us at FidelityCanadaStaffing@fidelity.ca.

No telephone inquiries or agencies please. We thank all applicants for their interest, please be advised that only those selected for an interview will be contacted.

Why Work at Fidelity?

We are proud to be recipients of the following

Awards

• Canada’s Top Family-Friendly Employers 2023 (7th consecutive year)
• Canada’s Top 100 Employers 2023 (7th consecutive year)
• Greater Toronto’s Top Employers 2023 (10th consecutive year)
• Canada’s Top Employers for Young People 2023
• Venngo Healthy Workplaces Award Workplace Benefits Awards – Health and Wellness Program
• HRDC Best Places to Work 2023
• HRDC 5-Star Diversity & Inclusion Employer
• HRDC 5-Star Benefit Program 2023

Designations

• A Canadian Compassionate Company
• Great Place to Work (Dec 2022 – Nov 2023)
• Best Workplaces for Women 2023 by Great Place to Work