Department Description
Brokerage Operations, as part of the Brokerage Hub, is responsible for asset servicing and administration of Brokerage holdings on Fidelity’s Retail Investment Platform. Functional responsibilities are split into three broad areas: Trade Operations for trade & settlement; Corporate Actions for corporate events and dividends; and Regulatory & Control for reporting and other processes including Stock Deposits for the transfer of certificated holdings.
Purpose of the role
This role forms part of the Brokerage Operations senior management team and the successful candidate will have overall responsibility for Brokerage regulatory reporting. It will include the migration of the Transaction Reporting process from another team and its ongoing management alongside other regulatory and control tasks.
Key Responsibilities
Ensure correct and timely submission of FASL transaction reporting to the FCA via UnaVista, including regular reconciliation
of data on internal systems and held by the regulator
Own regulatory reporting issues and their resolution, including effective communication with relevant teams and stakeholders
Actively raise awareness of Transaction Reporting across the Brokerage Hub and wider Operations department and encourage consideration of potential impact of other processes across Operations and Technology
Identify and resolve upstream system and data quality issues with relevant areas
Liaise with Compliance team as appropriate for breaches and regulatory matters
Identify risks, implement and test controls and ensure full documentation in the RCSA
Ensure all relevant procedure documents are correct, regularly reviewed and tested
Manage remediation of regulatory reporting as required
Own the regulatory change backlog and work closely with the TR Transformation SME to ensure all changes in regulation and/or systems are correctly assessed and the outcomes align with relevant regulatory reporting requirements
Represent Brokerage at relevant internal and external forums, including PIMFA, to discuss TR and regulatory issues and ensure Fidelity’s views are reflected in key industry reviews
Support and strengthen the control environment and associated tasks including management of procedure reviews and RCSAs
Experience and Skills Required
Industry experience acquired through working for a comparable organisation
Knowledge of regulatory requirements set by regulatory bodies such as the FCA, particularly UK Transaction Reporting
Knowledge of asset classes including Equities, Fixed Income, ETFs, Investment Trusts
Motivated with strong focus on customer service, regulatory requirements and risk mitigation
Basic project management skills and experience in managing small projects and initiatives
Proficient with Excel, PowerPoint, Word and Outlook
Able to conduct meaningful analysis on large data sets
Self-starter with a dynamic “can do” attitude and a good track record of meeting deadlines
Experience in managing cross-functional stakeholders at varying levels of seniority
Attention to detail and ability to work effectively alone or in a team
Effective communicator with confidence to express opinion and concerns in a constructive and solution-oriented way
Experience in producing and providing commentary on MI
Understand the importance of network building throughout the organisation to share information
Able to take ownership and drive deliverables through to completion
Affinity with Fidelity’s Values and Behaviours