Operations Representative - Buyins & Settlements

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.

At Fidelity, we’ve been helping Canadian investors build better financial futures for over 35 years. We offer individuals and institutions a range of trusted investment portfolios and services - and we’re constantly seeking to find new and better ways to help our clients. As a privately owned company, we boldly embrace innovation in all areas as we continue to grow our business into the future.

Working with us means you’ll be part of a diverse and dedicated group of people who make a real difference for our clients and communities every day. You’ll have a wide range of opportunities to grow and develop your career in an inclusive environment where you’ll feel valued and supported to be your best - both personally and professionally.

Operations Representative - Buy-Ins/Settlements

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.

For more information about Fidelity Clearing Canada, please visit https//clearingcanada.fidelity.com/.

Business Overview

The FCC settlements department ensures timely settlement and reporting of all trades processed through our books and records. The department as a whole 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. Settlements involves the delivery of securities and the corresponding payment. Securities are delivered against payment of money to fulfill contractual obligations, such as those arising under securities traders. The Settlements Administrator communicates with Fidelity Clearing Canada internal partners, our clients and counterparties. By working with these key stakeholders, we achieve accurate and timely processing while mitigating risk to all involved.

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

• Compare and match trades that are posted in Dataphile vs. what appears in CDS, DTC, Citi-Direct and FedWire.
• Ensure instructions are in place with foreign custodian as well as with Fed Wire custodian as Required.
• Respond timely to verbal or written client requests.
• Inquire with counterparties as to the reason behind trades which are either unconfirmed or DK'd (Don't Know).
• Allocate required security positions between CDS/CNS and DTC/NSCC as required.
• Processes transactions and service client needs as per the performance expectations and measures of each department.
• Using continuous improvement methodologies, continually searches for and takes initiative to improve and/or eliminate ineffective processes to improve customer service or gain efficiencies
• Communicate with the securities lending department regarding positions required for deliveries.
• Prepare and distribute of buy-in notices to correspondents regarding client short positions that are required for delivery.
• Retrieval of sensitive documentation from our client firms and secured vault located in the downtown core.
• Follow policies and procedures to ensure compliance with our regulatory requirements. Minimize risk to the business by escalating issues to management
• Report unmatched or failing trades intra-day to the correspondents.
• Create and distribute reports to clients and management.

Experience

What We Are Looking For

• 1 to 2 years’ experience in operations and/or client services roles within the financial services industry,

preferably in brokerage, and/or in the correspondent clearing and custody business.

Education

• 2-year post-secondary program completion or equivalence

Designations, Licenses, or Accreditations

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

The Expertise You Bring / This is the right opportunity for you if you

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

Fidelity Canada is an equal opportunity employer

Fidelity Canada is 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, Aboriginal/Native American status or any other legally-protected ground.

Accommodation during the application process

Fidelity Canada welcomes and encourages applications from people with disabilities. Accommodations are available on request for candidates taking part in the selection process. If you require an accommodation, please email us at [email protected].

No telephone inquiries or agencies please. We thank all applicants for their interest, please be advised that only those selected for an interview will be contacted.

Why Work at Fidelity?

We are proud to be recipients of the following

Awards

• HRDC Best Places to Work 2022
• Greater Toronto's Top Employers 2023 (10th consecutive year)
• Canada's Top Family-Friendly Employers 2023 (7th consecutive year)
• Venngo Healthy Workplaces Award Workplace Benefits Awards – Health and Wellness Program
• Canada's Top Employers for Young People 2023
• Canada's Top 100 Employers 2023 (7th consecutive year)

Designations

• Great Place to Work (Dec 2022 - Nov 2023)
• A Canadian Compassionate Company
• Best Workplaces for Women 2023 by Great Place to Work