The Role
The Alternative Investments Brokerage Operations role involves reconciling the Operations and Services Groups' Alternative Investment positions, held in book entry form, on behalf of our clients and in a timely manner to mitigate risk and exposure to the organization. These activities are performed daily and require adherence to policies, procedures, and regulatory guidelines
The Recon team is tasked with reconciliation of Hedge Funds, non-publicly traded REITS, Funds of Funds, Private Investment Funds and other asset classes. The associate will also be responsible for handling research requests regarding account transactions and for resolving complex reconciliation issues in a timely manner. The associate will act as the owner of the relationship between the Product Sponsor and Fidelity.
The Expertise and Skills You Bring
College degree preferred
Knowledge of alternative investment products and reconciliation process
2 years brokerage experience, or 5 work related experience
Reconcile fund activity to internal books-and-records
Minimize risk to the organization by resolving discrepancies within 7 days of identifying
Analyze and research discrepancies and aged transactions with issuers
Process various maintenance requests
Escalate any potential risk to the organization
Data entry to support those funds that are reconciled manually
Analyze or review decision-related transactions and ensure compliance
Interact with various fund companies and their transfer agents
Review of brokerage activity and fund statements
Reconcile suspense accounts
Identify process improvement opportunities
Detail oriented, ability to work effectively with minimal supervision
Team player with capability to help maintain a positive work environment
Strong analytical and decision-making skills
Ability to prioritize and work effectively in a fast-paced environment with multiple deadlines and processes
Exceptional quality and productivity in current role
Ability to handle and resolve complex problems
Strong verbal and written interaction skills including ability to explain complex processes
Effective time management skills and ability to prioritize and multi-task.
Strong PC skills - Word, Excel and Access
Note: Fidelity will not provide immigration sponsorship for this position.
The Team
Operations and Services Group (OSG) provides superior customer service to Fidelity's Institutional Products Group's businesses through innovation, dedication and commitment to excellence. With eight operating divisions located throughout the country, OSG provides securities execution, clearance, and information management services to retail, institutional, and correspondent clients. OSG performs tens of thousands of over-the-counter, listed equities, options, bonds, and mutual fund transactions daily.
An Alternative Investment (AI) is a highly specialized investment vehicle that is tailored to sophisticated, high net-worth investors and are not traded on any public market. Our Alternative Investments group services all Fidelity lines of business and handles end-to-end operations from onboarding of assets, all transactions, reconciliation, and servicing requests.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.
Based on 2,542 disclosed Finance salaries on RoleSuite, the role pays a median of $117K/year, with most offers between $88K and $158K (10th–90th percentile: $70K–$199K).
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