Corporate Actions Process Lead

Job Description

Title:                    Corporate Actions Process Lead

Department:       Brokerage Operations                      

Reports To:        Manager, Corporate Actions            

Location:            Kingswood, Surrey

Job Type:           Permanent

About Fidelity International

Fidelity International offers world class investment solutions and retirement expertise. We are a privately owned, independent company, with the commitment and resources to provide the investment expertise, technology and service innovation needed to help our clients achieve their financial goals.

Our people are passionate, engaged, smart and curious, and we give them the independence and the confidence to make a difference. While we take pride in the excellence of our investment solutions and client service, we know we can always do better. We are honest, respectful and make tough calls, challenging the status quo to achieve better outcomes through innovation. Above all else, we always put our clients first.

Department Description

Brokerage Operations, is responsible for asset servicing and administration of Brokerage holdings on Fidelity’s Retail Investment Platform. Functional responsibilities are split into three broad areas: Trade Operations for trade & settlement; Corporate Actions for corporate events and dividends; and Regulatory & Control for reporting and other processes including Stock Deposits for the transfer of certificated holdings.

Purpose of the role

The Brokerage Corporate Actions & Dividends Team are responsible for identifying, tracking, processing and reporting any Corporate Action events and Dividends, which effect any security position held by clients of Fidelity’s Retail Investment Platform. The range of assets supported on the Investment Platform will expose the team to the full spectrum of corporate action types across the major world’s stock markets.

The team will be in daily contact with market suppliers and information vendors researching, analysing and verifying corporate action information. The team is responsible for notifying clients, and where appropriate their Advisers, with details of voluntary corporate actions, collecting all responses and instructing our market suppliers with our clients’ wishes. There is also a strong emphasis on liaison with the many areas within Brokerage Operations and the wider Retail Operations Teams; working collaboratively to resolve mutual issues

The team is responsible for processing all corporate action and dividend entitlements to the individual client accounts on an accurate and timely basis. The team works to tight deadlines to ensure all actions are processed in line with client expectations and market cut off points. The team operates in a fast developing and dynamic environment, where technology has and is being developed to automate current workflow processes.

This role is a Team Leader role and the role holder will be responsible for monitoring and overseeing all work items applicable to the Fidelity asset universe. The role holder will take full day to day BAU ownership of the function reporting into the Corporate Actions Manager.

The role will focus on performing some of the checks in the Corporate Actions group including validating entries in the Books and Records system, providing support, guidance and direction to the Associates and Senior Associates.

Key Responsibilities

• Drafting of departmental procedures and ongoing ownership of those procedures
• Ensuring that the team completes daily operational tasks in accordance with defined procedures
• Checking accuracy of any corporate action and dividend input to the accounting system ensuring this is completed timely and accurately
• Initiation and monitoring of notifications to Clients including Advisers, where applicable, and subsequent Instructions to our Market Broker/Custodian
• Monitoring status of corporate actions events during their life cycle
• Resolution of queries arising from corporate actions and escalating where necessary
• Maintaining relationships and communication between corporate actions and stakeholders, both internal and external
• Helping to oversee the team’s Custody reconciliation breaks resultant from corporate actions of dividend activity, both cash and stock, ensuring timely and accurate resolution
• Assignment of actions and tasks across the corporate actions team
• Participation in key departmental projects including ownership of department led initiatives
• Providing formal feedback on Market Broker/Custodian Performance and participation at service level meetings
• Challenging Internal and Third-Party processes

Experience and Skills Required

• Proven global corporate actions experience with exposure at a Supervisory level is required
• Possession of Industry Qualifications – IAQ or IMC or proof of “Grandfathering”
• Working knowledge of the following asset classes; Equity/Fixed Income/ETF/Investment Trusts.
• Computer literate with strong Excel, Word and Outlook skills.
• Self-starter with a dynamic “can do” attitude with a strong desire to make things happen.
• Strong attention to detail and be able to work effectively during pressure periods prioritising multiple tasks.
• Strong and effective communicator at all levels
• Good team worker sharing knowledge effectively and showing a flexible work approach
• Experience of participating in projects and procedural enhancements
• Ability to “think on your feet” and develop innovative and effective solutions to problems
• Delivers results: Takes ownership for delivery, Effective delegation
• Problem Analysis
• Initiating and adapting to change: Process improvements
• Stakeholder/Customer Management
• Influencing and Negotiation
• Work experience within an Investment Management environment is desirable