Senior Analyst – Corporate Actions recruitment
Fidelity and its subsidiaries employ over 5,400 people in 23 countries managing US$255.9 billion worldwide.
Fidelity’s investment style relies on fundamental research of companies and a strict bottom-up portfolio construction discipline. This means Fidelity’s analysts and portfolio managers look closely at a company’s balance sheet and future plans; meet regularly with and question its management; and then speak to its competitors, suppliers, customers and anyone else who might give them information that helps to assess whether the investment is a good one. Every investment in every portfolio is selected on its merit and ability to contribute to a better return.
The same can be said of its employees, who are encouraged to take intelligent risk in order to make small improvements that cumulatively improve the business. Fidelity is independent, not a subsidiary of a big bank or other institution, and is privately owned. This means that it can take long-term investment decisions rather than chase the next quarterly results as a listed company might. Fidelity believes its independence is a considerable advantage that benefits its customers.
As well as investment management, Fidelity distributes the funds of other managers through its FundsNetworkTM platform, administers pension schemes, and has interests in various other enterprises in Europe and Asia. For further information please visit www.fidelityrecruitment.com
Purpose of your role
Corporate Actions are responsible for identifying, tracking, processing and reporting any Corporate Actions and Dividends, which effect any security position held by Fidelity’s retail and institutional funds, with an increased focus on fixed income and derivative type products. The global range of Fidelity’s products and services expose the team to the full spectrum of corporate action types across nearly all of the world’s stock markets.
The role is primarily to assist the Managers in the team with the day to day running of the Corporate Action group as described below and to assist on Projects where required. The team is in daily contact with over 30 custodian banks and information vendors researching, analysing and verifying corporate action information. The team is responsible for notifying the Fund Managers and their support teams principally in London, Boston, Hong Kong and Tokyo with details of voluntary corporate actions. Corporate Actions then chase and collect all responses, instructing the custodian banks in line with the Fund Managers wishes. There is also a strong emphasis on liaison with the many areas within Investment Administration; working collaboratively to resolve mutual issues.
The team is also responsible for processing all corporate action entitlements to the individual funds on an accurate and timely basis, taking account of accounting practices, for inclusion in the calculation of the daily Net Asset Value (NAV) of the individual funds. The team works to tight deadlines to meet the multiple daily valuations performed within Investment Administration. The team operates in a fast developing and dynamic environment, where technology has and is being developed to automate current workflow processes.
Your key accountabilities
- Ensuring all corporate actions are verified to multiple sources and processed in the Corporate Action system
- Identification, escalation and resolution of corporate action issues with particular emphasis on critical and complex issues
- Preparing voluntary corporate action notifications for distribution to the fund managers and trading desks
- Tracking all voluntary corporate actions to ensure all responses received from the fund manager
- Preparation of all bank instructions for voluntary corporate actions
- Processing all mandatory and voluntary corporate action entitlements into the fund accounting system
- Monitoring share availability for all corporate action entitlements and updating trading system
- Monitoring and clearing all share and cash reconciliation items
- Completion of key daily tasks e.g. Pricing of non tradable securities derived from Corporate Actions
- Support line manager in the delivery of key daily outputs including checking of certain business critical tasks
- Support company wide project initiatives as required
- Support line manager in training and mentoring of junior members of the team
- Liaison with other Operational areas such as Settlements, Pricing, Data Management, Fair Value and Cash Control Reconciliations
Your skills and experience
An individual experienced in Corporate Actions who is looking for that next step and is willing to take on responsibility in an environment seeking constant improvement. You will have the ability to develop and enhance existing work practices and procedures and possess good time management skills with the emphasis on the ability to prioritise own work and meet tight deadlines. You should have a strong attention to detail and be able to work effectively during pressure periods. The ability to think through issues and see them through to resolution while being aware of the wider context is important. Overall someone who is a good team worker, communicator and self starter with a dynamic “can do” attitude with a strong desire to make things happen. The candidate should also have completed or be willing to take IAQ examinations
Essential skills
- Technical expertise - Computer literate with strong Excel, Word and Outlook skills
- Industry knowledge - Previous Corporate Actions operational experience is required plus experience of using ISO15022 SWIFT messages ideally in an automated environment
- Company knowledge – Awareness of Fidelity and the company in general
Desirable skills
- Global Corporate Action experience gained in an Investment Management environment
- Basic working knowledge of Fixed Income / Derivative type instruments
- Understanding of dividend processing
- Exposure to theoretical pricing of Corporate Action derived securities
- Some experience of checking of key daily tasks.
Key Competencies for the role
- Communicate with impact: Effectiveness Clarity
- Delivers results: Takes ownership for delivery, Accuracy
- Planning and Organisation: Prioritisation time management
- Problem Analysis
- Stakeholder/Customer Management
Fidelity Values
Act with integrity
Make it happen
Think like an entrepreneur
Earn the client’s trust