Stock Loan Buy-In Associate, Brokerage Operations
Job Description:
The Role
The associate will be expected to deliver world class service to internal and external (correspondent, investment advisors and contra parties) clients by settling their transactions timely and accurately while adhering to policies, procedures and regulatory guidelines. The associate will utilize internal as well as external systems and partner with various departments to settle transactions. Responsibilities will include monitoring and managing the settlement of transactions and buying in parties that are failing to return loans to NFS and retransmitting recalls to external or internal parties where NFS is failing to return borrows. The associate will work closely with management to identify and resolve complex issues related to the resolution of the outstanding contracts and identify trends.
Primary Responsibilities
- Manage outgoing recalls and ensure proper coverage on incoming recalls while meeting all applicable deadlines
- Provide support to the Stock Loan Trading desk
- Resolve risk related transactions and escalate accordingly
Education and Experience
- College degree preferred
- 3-5 years of relevant Stock Loan buy-in experience or 5-7 years of brokerage experience
Skills and Knowledge
- Knowledge of FIS’s LOANET system.
- Knowledge of DTCC PTS terminal as well as DTCC’s SmartTrack system
- Expert knowledge of industry regulations and with firm policies and procedures
- Attention to details while being efficient and effective (time management)
- Ability to communicate effectively with internal and external business units
- Highly motivated with the ability to multi-task and complete assigned tasks in a timely and accurate manner while assisting with managing daily task list
- Ability to work effectively in a team-oriented environment
- Excellent communication and interpersonal skills and the ability to effectively train associates
- Strong knowledge of internal systems and PC applications (especially with Excel)
Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
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.
Fidelity’s hybrid working model blends the best of both onsite and offsite work experiences. Working onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most hybrid roles require associates to work onsite every other week (all business days, M-F) in a Fidelity office.