Vice President, Finance

4 weeks ago

Boston, United States Fidelity Investments Full time

Job Description:

The Purpose of Your Role

The Head of Finance Interest COE leads Fidelity's Interest Center of Excellence, which is responsible for accounting close support, management reporting, financial planning, decision support, and facilitation of cross-enterprise coordination related to our brokerage cash, margin, and securities finance products. The mission of the Interest Center of Excellence is to centralize, consolidate, improve, and implement Finance activities, and to ensure a deep bench of subject matter expertise, related to Fidelity's brokerage interest revenue and related capital usage in order to drive efficiency, transparency, and strategic alignment across the enterprise. The Interest Center of Excellence is a critical utility to the finance function, bridging expertise across balance sheet and treasury management, broker-dealer regulatory requirements, securities finance products, lending products, cash management products, client behaviors related to interest products, and forecasting the impact of interest rate changes and stock market fluctuations on the financial performance of our interest products.

In addition to Interest Center of Excellence responsibilities, this role is responsible for line support for two dynamic and intellectually challenging divisions withing Fidelity Capital Markets - FCM Prime and FCM Securities Finance. This role will work with and support the SVPs who lead the Prime and Securities Finance businesses, including budgeting, planning, decision support and financial reporting.

Fidelity Capital Markets is the institutional trading arm of Fidelity Investments, providing trading products & services to a wide array of clients and Fidelity's own businesses. Our Finance Team supports FCM Senior management by providing decision support, financial planning & analysis, and reporting to the divisions within FCM, which include Fixed Income, Equity, Syndicate, FOREX, Prime, Securities Finance and Fidelity Agency Lending.

The prime services team provides a consolidated prime brokerage offering for hedge fund clients. The platform provides a gateway to Fidelity's wide array of products and services, including direct access to one of the largest and most diversified captive pools of securities available for lending. As a privately held firm, Fidelity offers alternative asset managers a differentiated counterparty profile in a multi-prime broker environment.

FCM's Securities Finance Desk provides clients across Fidelity's channels with access to borrow and execute their short sale strategies as well as the ability to earn incremental income on hard to borrow long positions via the Fully Paid Lending program. In addition, the Fidelity Agency Lending business has been launched within the Securities Finance division, with responsibilities for serving as agent lender of securities held by mutual funds, ETFs, and other institutional vehicles. FAL supports FMR's agent lending needs as well as the lending needs of various 3rd party asset managers.

The responsibilities of the Head of Finance Interest COE will include:

Leading, managing and developing a team of 5 associates who support the interest COE and the prime and securities finance divisions of FCM Presentation of materials related to brokerage interest revenue and return on capital to various senior audiences including Fidelity's Operating Committee, the Treasury and Capital Management Committee, and the FI/IWMS Return on Capital Review. Ownership if the COE's interest model, which allocates interest revenue to interest products and channels in support of the monthly close process, and bridges the interest product financials between general ledger entries, legal entity attribution, and management set of books analytical reporting on interest balances Support for various L1 sponsored ad hoc projects of high enterprise value that overlap with brokerage interest products - past examples have included Coiled Spring, Debit Funding Strategy, and Stress Testing Framework. Lead and manage budgeting, planning and KPI development for the prime and securities finance divisions
The Expertise We're Looking For

Bachelor's Degree in Finance, Accounting, or Economics combined with a minimum of 10+ years' work experience in a finance capacity Knowledge of brokerage interest products and an understanding of their revenue drivers and funding costs Experience with and understanding of broker-dealer balance sheet management, regulatory capital implications associated with interest products, and return on capital evaluations are a plus Strategic problem solver who can holistically evaluate an issue and deliver multiple solutions. Proficient in various software applications (i.e., Excel, PowerPoint) and proven skills for building financial models for sophisticated processes.
The Skills You Bring

Excellent communication and presentation skills: analyze sophisticated issues and synthesize key points. Excellent problem-solving skills; prioritizing work, breaking down issues, taking an end-to-end view, and proposing alternative solutions. High degree of comfort with data, databases, financials, and having a strong bias for ensuring high data quality Detailed understanding of financial concepts, methodologies, and accounting principles and how they affect business decisions. Ability to juggle multiple priorities in an environment with accountability to multiple financial and business leaders Flexible, self-motivated individual that will bring energy, passion, and intellectual curiosity to the role. Ability to work in a fast-paced, deadline driven organization with a desire to drive projects to completion.
Certifications:

Company Overview

Fidelity Investments is a privately held company with a mission to strengthen the financial well-being of our clients. We help people invest and plan for their future. We assist companies and non-profit organizations in delivering benefits to their employees. And we provide institutions and independent advisors with investment and technology solutions to help invest their own clients' money.

Join Us

At Fidelity, you'll find endless opportunities to build a meaningful career that positively impacts peoples' lives, including yours. You can take advantage of flexible benefits that support you through every stage of your career, empowering you to thrive at work and at home. Honored with a Glassdoor Employees' Choice Award, we have been recognized by our employees as a top 10 Best Place to Work in 2024. And you don't need a finance background to succeed at Fidelity-we offer a range of opportunities for learning so you can build the career you've always imagined.

Fidelity's working model blends the best of working offsite with maximizing time together in person to meet associate and business needs. Currently, most hybrid roles require associates to work onsite all business days of one assigned week per four-week period (beginning in September 2024, the requirement will be two full assigned weeks).

At Fidelity, we value honesty, integrity, and the safety of our associates and customers within a heavily regulated industry. Certain roles may require candidates to go through a preliminary credit check during the screening process. Candidates who are presented with a Fidelity offer will need to go through a background investigation, detailed in this document, and may be asked to provide additional documentation as requested. This investigation includes but is not limited to a criminal, civil litigations and regulatory review, employment, education, and credit review (role dependent). These investigations will account for 7 years or more of history, depending on the role. Where permitted by federal or state law, Fidelity will also conduct a pre-employment drug screen, which will review for the following substances: Amphetamines, THC (marijuana), cocaine, opiates, phencyclidine.

We invite you to Find Your Fidelity at fidelitycareers.com.

Fidelity Investments is an equal opportunity employer. We believe that the most effective way to attract, develop and retain a diverse workforce is to build an enduring culture of inclusion and belonging.

Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation, contact the HR Accommodation Team by sending an email to accommodations@fmr.com.

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