Manager, Brokerage Operations

About the Role

The Operations Repo Specialist is responsible for the seamless execution, settlement, and lifecycle management of repurchase agreement (Repo) transactions used for collateral reinvestment. This role acts as the operational backbone for the Agency Lending desk, ensuring that all cash and securities movements are reconciled, risk-controlled, and compliant with client mandates.

Note: Fidelity will not provide immigration sponsorship for this position.

Responsibilities

• Oversee the daily settlement of bilateral and tri-party Repo trades, ensuring timely delivery of collateral and cash via Fedwire and external vendors.
• Monitor daily collateral valuations and manage margin calls. Ensure all pledged assets meet specific client eligibility criteria.
• Perform daily cash and position reconciliations. Investigate and resolve trade discrepancies (fails) to mitigate TMPG charges and financial exposure.
• Monitor and resolve bond settlement fails and maintain records for counterparty charges.
• Oversee repo settlement, reconcile custody records for interest/coupon activity, and ensure compliance with KYC/AML protocols.

Requirements

• 3–5 years in Securities Finance Operations, Repo Middle/Back Office, or Collateral Management.
• Hands-on experience with settlement systems such as Global One, Pirum, Loanet, or Swift.
• Solid understanding of the mechanics of Repo/Reverse Repo, U.S. Treasury/Agency market, and the Securities Lending lifecycle.
• Ability to quickly diagnose and fix settlement fails under tight market deadlines.
• Comfortable working across desks, including Trading, Treasury, and Credit Risk.

About the Team

The Operations and Services Group (OSG) provides superior customer service to Fidelity’s brokerage businesses through innovation, dedication, and commitment to excellence. With seven operating divisions located throughout the country, OSG provides securities execution, clearance, and information management services to retail, institutional, and correspondent clients. OSG performs tens of thousands of over-the-counter, listed equities, options, bonds, and mutual fund transactions daily.

Work Arrangement

Fidelity is transitioning to a full-time onsite working model through a phased rollout across regions and roles. Currently, some roles and locations require 100% onsite presence, while others require less. Onsite expectations are likely to evolve as the rollout continues. This transition does not apply to fully remote roles.

Pay

The base salary range for this position is $66,000–125,000 USD 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.

Benefits

We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include:

• Comprehensive health care coverage and emotional well-being support.
• Market-leading retirement benefits.
• Generous paid time off and parental leave.
• Charitable giving employee match program.
• Educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career.