CFO National Financial Services

Job Description:

The role will serve as Chief Financial Officer (CFO) of four broker-dealers: National Financial Services (NFS), Fidelity Prime Financing (FPF), Fidelity Distributors Corp (FDC), and Digital Brokerage Services (DBS), with NFS representing the vast majority of overall responsibilities. The NFS CFO leads the Regulatory Reporting, Regulatory Control, and Bank Reconciliation and Processing Support functions, with total FTE of ~25, and collaborates closely with our brokerage treasury, operations, and accounting functions. The position reports to the Treasurer of FMR, LLC (part of the Finance organization) and requires extensive interaction with senior leaders from across the company. Location(s): Jersey City, NJ; Boston, MA

• Responsibilities of the Regulatory Reporting function:
  • Weekly (and transition to daily) SEC 15c3-3 Reserve Computation
  • FOCUS reporting, including balance sheet, income statement, net capital, customer reserve and operational information
  • Supplemental reports, including: Leverage, Form Custody, Supplemental Income, and Supplemental Liquidity

• Responsibilities of the Regulatory Control function:
  • Federal Reserve Treasury International Capital (TIC) Reporting
  • FINRA Short Interest Reporting
  • Possession or Control Reporting
  • Net Capital Reporting
  • Reserve Reporting
• Responsibilities of the Bank Reconciliation and Processing Support function:
  • Produces numerous daily, weekly, and monthly reconciliation and other reports for NFS and select other business areas
  • Bank Reconciliation includes reconciling all book/bank check depositories, operational accounts, disbursement accounts, and digital products for NFS LLC daily, creating and distributing custom end user reporting, and validating and signing off on monthly reports
  • Processing Support includes approving/rejecting bank reconciliation requests, monitoring queues, and researching and responding to inquiries, as well as processing and reviewing various manual adjustments

The Expertise and Skills You Bring

We are seeking a candidate who has extensive experience and expertise in securities regulation, accounting and operations and can lead and develop an impactful team while maintaining strong attention to detail, accuracy, timeliness, and control process development. In addition, the ability to navigate complexity, influence business partners, and identify and escalate issues is important.

Licenses: Series 27 will be required

A detailed understanding and experience in the Financial Services industry operating in a multi-distribution channel organization.

Senior level presence, with the capability to build credibility and gain trust and respect. Ability to thoughtfully challenge decisions or recommendations as appropriate. Ability to collaborate with critical partners of all levels and subject areas.

High degree of business understanding and ability to maintain a high level of credibility with external partners at a senior level, particularly regulators, industry peers, and counterparties.

Proven influencing, negotiating, relationship management and communication skills both internal and external to the organization.

Proactive focus and depth of thought is required with a can-do attitude. Individual must possess the ability to anticipate requirements and obstacles and have plans to address them.

Excellent management and leadership skills that attract, develop, and retain top talent.

Note: Fidelity is not providing immigration sponsorship for this position

The Team

National Financial Services (NFS), a wholly-owned subsidiary of Fidelity Investments, is a large provider of brokerage and custody services, serving as a clearing firm for many broker-dealers and offering services like trade execution, clearing, and custody.

Finance supports the management of the business in the achievement of business goals and objectives and improves shareholder value by ensuring the timeliness, accuracy, integrity, consistency and relevance of financial information in relation to the business decision-making process. It is responsible for the control in good order of the financial books and records of the company and accordingly is accountable for the financial reputation of the company.

In addition, it is responsible for the development of sound financial strategies and the assessment of financial risks, and through Treasury their effective management. It is the custodian of the company’s fiduciary values safeguarding the financial assets and interests for the benefit of all FMR’s shareholders and key partners.

The base salary range for this position is $185,000.00 - $350,000.00 per year.  
Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.

Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
 

Certifications:Series 27 - FINRA

Category:Finance

Fidelity’s hybrid working model blends the best of both onsite and offsite work experiences. Working onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most hybrid roles require associates to work onsite every other week (all business days, M-F) in a Fidelity office.