Job Description
Title Assistant Manager – Corporate Actions & Income
Department Corporate Actions & Income, ISS COO Fund Servicing & Oversight (FSO)
Location Dublin, Ireland
Reports To Manager- Corporate Actions & Income, ISS COO Fund Servicing & Oversight (FSO)
Level Level - 4
We’re proud to have been helping our clients build better financial futures for over 50 years. How have we achieved this? By working together - and supporting each other - all over the world. So, join our team in Asset Management Operations and feel like you are part of something bigger.
About your team
Corporate Actions is responsible for identifying, tracking, processing and reporting Corporate Action events and Dividends, which effect any security position held by Fidelity’s retail and institutional funds, across all asset classes. The global range of Fidelity’s products and services exposes you and the team to the full spectrum of corporate action types across most of the world’s stock markets.
A Day in Corporate Actions
Corporate actions are in daily contact with approximately 30 custodian banks and information vendors researching, analysing and verifying corporate action information. The team is responsible for notifying the Portfolio Managers and Trading Desks globally with details of voluntary corporate actions. Corporate actions collect all responses and instruct the custodian banks in line with the Portfolio Managers wishes. The team account for all corporate action and CFD dividend entitlements in the individual funds across multiple daily Net Asset Value (NAV) points. Corporate actions work to tight deadlines to meet their obligations within Asset Management Operations (AMO).
The team operates in a fast developing and dynamic environment, where technology has and is being developed to automate current workflow processes. There is also a strong emphasis on liaison with the many areas within Global Business Solutions (GBS); working collaboratively to resolve mutual issues.
The team is responsible for notifying the Portfolio Managers and Trading Desks globally with details of voluntary corporate actions. The team collect all responses and instruct the custodian banks in line with the Portfolio Managers wishes. There is also a strong emphasis on liaison with the many areas within Investment Services, working collaboratively to resolve mutual issues.
The team is responsible for processing all corporate action and dividend entitlements in the accounting system on a timely and accurate basis in accordance with accounting practices. The team’s daily processes are driven by the three daily valuation points at 10.00, 12.00 & 17.00 (UK time) and all activity must be loaded and checked prior to the valuation point. The team are also responsible for confirming the availability of entitlements and unblocking these from the trading system to enable trading. Processing will also include CFD’s and pre-processing certain mandatory events the day before ex-date within the Investment Services systems to reflect corporate action entitlements in the Start of Day positions delivered to Investment Management.
About your role
As an Assistant Manager in Corporate Actions, you will be responsible for ensuring that the team completes certain daily operational tasks in accordance with defined procedures, pro-actively review procedures and risk and ensure that issues identified are resolved, checking accuracy of any cash dividend input to the accounting system ensuring this is completed timely, accurately checking notifications to Portfolio Managers and Instructions to Custodians. monitoring status of corporate actions events during their life cycle along with the additional following activities:
- Ensuring adherence to departmental procedures
- Resolution of queries arising from corporate actions and escalating where necessary
- Providing formal feedback on Custodian Performance and representing FIL at custodian service level meetings
- Oversee the team’s Custody reconciliation breaks, both cash and stock, ensuring timely and accurate resolution
- Maintaining relationships and communication between corporate actions and stakeholders, both internal and external
- Assignment of actions and tasks across the Corporate Actions team
- Working with the Manager in setting individuals’ goals and providing input to the wider departmental goals
- Support line manager in training and mentoring of junior members of the team
- Participation in key departmental projects
About you
The role will focus on performing some of the checks in the Corporate Actions group including validating entries in the accounting system, providing support, guidance and direction to the Analysts and Senior Analysts in the team as well as assisting the Manager in people and team development. Therefore, a minimum 3 - 5 years global Corporate Actions experience at a Supervisory level is required along with the following attributes:
- Experience within an Investment Management environment is desirable
- Good time management skills with emphasis on ability to prioritise own work and meet tight deadlines
- Strong attention to detail and be able to work effectively during pressure periods
- Good team worker sharing knowledge effectively and showing a flexible work approach
- Strong and effective communicator at all levels
- Self-starter with a dynamic “can do” attitude with a strong desire to make things happen
- Knowledge of Fixed Income / Derivative type instruments
- Experience participating in projects and procedural enhancements
- Understanding of basic accounting principles
- Ability to “think on your feet” and develop innovative and effective solutions to problems
Feel rewarded
For starters, we’ll offer you a comprehensive benefits package. We’ll value your wellbeing and support your ongoing development. And we’ll be as flexible as we can about where and when you work – finding a balance that works for all of us. It’s all part of our commitment to making you feel motivated by the work you do and happy to be part of our team.
For more about our work, our approach to dynamic working and how you could build your future here, visit careers.fidelityinternational.com.
Top Skills
What We Do
Fidelity International offers investment solutions and services and retirement expertise to more than 2.5 million customers globally. As a privately held, purpose-driven company with a 50-year heritage, we think generationally and invest for the long term. Operating in more than 25 countries and with $739.9 billion* in total assets, our clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals.
Our Workplace & Personal Financial Health business provides individuals, advisers and employers with access to world-class investment choices, third-party solutions, administration services and pension guidance. Together with our Investment Solutions & Services business, we invest $567 billion on behalf of our clients. By combining our asset management expertise with our solutions for workplace and personal investing, we work together to build better financial futures.
*Data as of 31 March 2021
