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    Manager Operations FCC - Toronto, Canada - Fidelity Investments

    Fidelity Investments
    Fidelity Investments Toronto, Canada

    6 days ago

    Default job background
    Full time
    Description

    Description

    Who We Are

    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

    What You Will Do

    The Manager of Operations is responsible for managing the client facing and market facing operations teams within FCC and the effective management and leadership of the Operations function, including transaction processing quality and throughput, development and maintenance of appropriate controls, staff planning and utilization and process reviews and improvements.

    The role is responsible for ensuring all exchanges, are balanced prior to market open (Purchase and Sales), reconciliations including, both internal control accounts and external depositories, security master and pricing of securities. This role is responsible for ensuring that Fidelity's brand and reputation is protected by adhering to Fidelity's compliance and risk framework.

    Financial and Risk Management: Demonstrates understanding of regulatory, risk and compliance supervisory obligations, and internal controls by:

  • Maintenance and resolution for any internal and external Regulatory/Risk Ratings/Audit findings
  • Provide oversight with external audits and ensure proper actions are taken to resolve all issues
  • Participates in internal/external audit engagements; assists with remediation of all findings that impact scope of assigned work
  • Ensures all reporting is completed on or before regulatory deadlines
  • Stay current with regulatory environment and raise concern with internal partners for further review and assess overall impacts. Provide suggestions toward solutions when applicable
  • Represent FCC Ops on market boards, panels, external bodies, seminars, conferences/courses. as required. Requires the ability to speak in public form comfortably while upholding Fidelity branding guidelines and expectations amongst industry peers
  • Accountable for identifying issues/risks (financial & regulatory) and resolving or escalating promptly to mitigate further exposure to the firm
  • Participate in project work relevant to the department and delegate responsibilities amongst the team to ensure adequate project team support
  • Ensures policy and procedure documents are maintained, up to date and required controls are adhered to
  • Responsible for monitoring respective control accounts. Any out of balances are addressed timely and escalated when necessary
  • Ensure supervisory oversight is in place to strengthen regulatory and risk controls to minimize exposure of the day-to-day work

    • Metrics & Data -Function and team performance:

  • Develop and implement metrics, KPI's and capacity modeling
  • Responsible for performance trends against scorecards/Service Level Opportunities (SLOs) for departments to ensure that goals are met; identify barriers/gaps and recommends a plan of action
  • Develop and follow up on annual departmental goals against the FCC corporate goals

    • Partner and collaborate with FCC's clients, vendors, peer groups, and FCC employees:

  • All matters related to operations. Asses current business needs, development improvements where required and look to achieve "best in class" service. Analyze matters at hand, look to influence, and work with FCC partners and clients in a consultative manner to determine what is required and execute change
  • Establish relationships and effectively liaise with various groups within the larger Fidelity organization for issues where there is synergy and opportunities to learn from one another. Build and maintain relationships with colleagues at Fidelity Canada, FMR & Industry Peers
  • Liaise and maintain strong relationships with vendors associated to the departmental objectives and responsibilities
  • Engage vendors timely to raise production concerns, initiate review of requirements associated to project work impacting these partners, etc.

    • Project work:

  • Key participant/Subject matter expert (SME) on projects related to FCC Operations
  • Lead smaller scale projects- department initiated changes etc.
  • Using continuous improvement methodologies, continually searches for and takes initiative to improve and/or eliminate ineffective processes to improve customer service or gain efficiencies

    • People management:

  • Engage employees in establishing clear and measurable goals that achieve business results
  • Provide coaching and give feedback to employees to meet business objectives and enhance individual performance; Ensure managers and their employees understand the values, policies and procedures of Fidelity and their business unit
  • Develop and mentor team members according to Fidelity standards
  • Ensure team receives the training on the skills and knowledge to proficiently perform the role. Understand limitations and challenges and work around these to achieve best results
  • Understand and demonstrate regulatory and risk supervisory obligations as appropriate to your role

    • The Expertise You Bring:

  • Exceptional, people management/leadership and coaching skills
  • Excellent knowledge of Canadian Capital Markets operations roles and processes
  • Working knowledge of one or more of departments including: settlements, physical securities, income processing, corporate actions, reconciliation, security maintenance, market clearing, and derivatives and tax
  • Excellent problem-solving skills
  • Excellent communication skills, written and oral
  • Accurate and detailed oriented
  • Business knowledge/acumen - forecasting. (i.e headcount/overtime/resourcing/cost benefit analysis)
  • Knowledge of government, regulatory and compliance policy/rules that govern the business

    • What We're Looking For:

  • University degree (Bachelor's Degree) or equivalent work experience within brokerage operations
  • 5+ years of experience in an operational area within the financial industry or 5+ years of experience within the brokerage dealer industry, preferably in back-office operations
  • 3+years leading teams preferably with demonstrated coaching, training and mentoring skills
  • Experience working on projects with the expectation to influence team members and peers

    • Nice to Have:

  • Working knowledge of commonly used industry systems; Fundserv, CDS, DTC, Arrow.
  • Knowledge of Broadridge's Dataphile platform an asset
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