FTC Associate - Control & Settlements

About the Opportunity

Title FTC Associate - Control & Settlements

Department Banking , Payments and Distributions

Location Bengaluru

Level Grade 1

Were 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 and feel like youre part of something bigger.

About the team

Control & Settlements Team ( part of Payments, Reconciliations & Product Management Capability ) is responsible for the receipt and payment of monies to / from investors / intermediaries and the reconciliation of cash and stock positions for Fidelitys European based funds and Funds Network fund supermarket business. In addition, other teams work around the processing of fund distributions, tax & interest accrual processing and various other control related activities for Business Operations.

The successful candidate, as a member of the Control & Settlement team will be responsible for ensuring that appropriate client money regulations and controls on customer assets are adhered to and best practice standards are maintained across all activities.

About the role

The Control & Settlement team is a part of the Payments, Reconciliations & Product Management Capability. The capability has a wide variety of different tasks which it undertakes, these include, being responsible for the investigation around automated journeys like MSP, WDP, Debit cards and reconciliation. Money movements between bank accounts, monitoring & Investigation of the cashbook & Ledgers, ISA/SIPP, CFP Keying, and Profit & Loss reporting. Items are received from other areas in the form of paper, e-mail and Xtrac work items. A level of communication with other business areas is necessary to ensure the prompt resolution of any queries.

This role of Associate is to support the Control & Settlement team and ensure that appropriate client money regulations on customer assets are adhered to. He / She will work in close tandem with UK stakeholders and counterparts to ensure smooth functioning of the processes in the India Service Centre. The successful candidate will possess strong technical ability and excellent interpersonal skills in order to ensure a smooth, efficient operation. The role will involve driving Fidelitys customer driven service within the department, allowing Fidelity to retain business and attract new assets to the Company. The successful candidate will also support the Team Manager of the function in managing key deliverables of the department.

• Responsible for the daily investigation, reconciliation and settlement of all Onshore Special Dealing for GIA using information received from Deal Corrections and system generated reports.
• Be responsible for the ongoing investigation and clearance of outstanding items on ledgers to ensure that all items are cleared promptly
• Perform ledger reconciliation via passing entries via defined portals
• Monitor and action items received via work hub queue on a daily basis.
• Monthly Profit & Loss reporting to Senior Management detailing operation P&L passed.
• Monitoring and recording of Deal Correction transaction from Sonata system on daily basis
• Investigation of exceptional dealing breaks in automated journey (On Sonata) and taking further action to resolve the same.

Other responsibilities include: -

• To gain regulatory knowledge and ensure knowledge is maintained.

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• To gain knowledge of the products & procedures within Fidelity and also within the Financial Market, and ensure knowledge is maintained and updated regularly.
• To gain subject matter expertise in C&S and represent the team in projects impacting C&S.
• To suggest process improvements and drive them in collaboration with the team lead and other team members.

• Effective communications with strong analytical skills with attention to detail.
• Bachelors degree from a recognised university. 1-3 year previous experience in finance or related areas is desirable.
• To be able to prioritise and organise effectively to ensure deadlines are met.
• Demonstrates a high level of commitment to improving customer service / processes internally.
• Good computer skills with knowledge of MS Word, Excel and Power Point.
• Team player who is also self-motivated and can work independently.
• Adaptable to changing business needs - a team player with a flexible approach.
• Basic understanding of the FCA Client Money regulations will be an added advantage.

Feel rewarded

For starters, well offer you a comprehensive benefits package. Well value your wellbeing and support your development. And well be as flexible as we can about where and when you work - finding a balance that works for all of us. Its 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.

For more about our work, our approach to dynamic working and how you could build your future here, visit careers.fidelityinternational.com.