Settlements Administrator

Job Description

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

Current work authorization for Canada is required for all openings.

What We Do

Based in Toronto, 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 registered Portfolio Managers.

Business Overview:

The FCC settlements department ensures timely settlement and reporting of all trades processed through our books and records. The department is responsible for managing the settlement process of CAD and USD trades through the main depositories, CDS and DTC, as well as international trade settlement through our foreign custodian and physical securities processing and handling.

How You’ll Make an Impact:

• Reporting to the Manager, Settlements, the Settlements Administrator is responsible for settling trades via electronic settlements systems, including the Canadian Depository for Securities (CDS), The Depository Trust Company (DTC) and through our foreign custodian (Citi-Direct) as well as FedWire. The Settlements Administrator communicates with Fidelity Clearing Canada internal partners, our clients and counterparties to achieve accurate and timely processing while mitigating risk.

As part of the settlements team, you will be responsible for the following:

• Processes transactions and services client needs as per the performance expectations and measures of each department.
• Follows policies and procedures to ensure compliance with regulatory requirements, minimizing risk by escalating issues to management.
• Using continuous improvement methodologies, continually searches for and takes initiative to improve and/or eliminate ineffective processes to enhance customer service or gain efficiencies.
• Compares and matches trades posted in Dataphile with what appears in CDS, DTC, Citi-Direct, and FedWire.
• Reports unmatched or failing trades intra-day to the correspondents.
• Allocates required security positions between CDS/CNS and DTC/NSCC as required.
• Communicates with the securities lending department regarding positions required for deliveries.
• Ensures instructions are in place with foreign custodian and FedWire custodian as required.
• Inquires with counterparties regarding unconfirmed or DK'd trades.
• Responds timely to verbal or written client requests.
• Retrieval of sensitive documentation from client firms and secured vault.
• Creates and distributes reports to clients and management.

What We Are Looking For:

Experience:

• 1 to 2 years’ experience in operations and/or client services roles within the financial services industry, preferably in brokerage and/or correspondent clearing and custody.

Education:

• 2-year post-secondary program completion or equivalent experience

Designations, Licenses, or Accreditations:

• Broadridge Dataphile knowledge is an asset
• Experience with Security Settlement depositories is an asset: DTC/CDS or Arrow
• Knowledge of buy-in process is an asset.
• Working towards or completion of the Canadian Securities Course is an asset

The Expertise You Bring:

• Excellent MS Excel skills and proficiency with the MS Office environment.
• Strong customer service skills with the ability to build credibility and rapport.
• Exceptional communication skills.
• Ability to thrive in a fast-paced, team-oriented environment.
• Ability to work independently in a fast-paced environment.

Fidelity Canada is an equal opportunity employer 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, or any other legally-protected ground.

Why Work at Fidelity?

• Canada's Top 100 Employers
• Great Place To Work Certified
• LinkedIn Top Companies in Canada
• Human Resource Director (HRD) - Best Place To Work