Credit Risk Specialist

Fidelity Investments; Toronto; On-site; CAD 70,000 - 90,000; Full time

Job summary

Fidelity Investments seeks a Credit Risk Specialist to monitor and analyze credit risks associated with Introducing Brokers and Portfolio Managers in Toronto. Candidates should have a strong background in the financial services industry, with a focus on credit risk and excellent communication skills. This role involves ensuring regulatory compliance, producing reports, and fostering relationships to support FCC's credit policies.

Qualifications

• Minimum 3 years’ experience in the financial services industry, preferably in brokerage.
• Broad understanding of credit risk management methodologies.
• CPH and CSC completion preferred.

Responsibilities

• Monitor and provide credit risk analysis on client accounts.
• Approve cash and security movements.
• Compile regular and ad-hit reports for internal stakeholders.

Skills

Credit risk management

Capital markets knowledge

Excel

VBA

Analytical skills

Client service orientation

Problem-solving

Education

Post-secondary degree in Finance, Mathematics, Economics

Job description

At Fidelity, we’ve been helping Canadian investors build better financial futures for over 35 years.We offer individuals and institutions a range of trusted investment portfolios and services - and we’re constantly seeking to find new and better ways to help our clients. As a privately owned company, we boldly embrace innovation in all areas as we continue to grow our business into the future.

Working with us means you’ll be part of a diverse and dedicated group of people who make a real difference for our clients and communities every day. You’ll have a wide range of opportunities to grow and develop your career in an inclusive environment where you’ll feel valued and supported to be your best - both personally and professionally.

Business Overview :

Fidelity Clearing Canada (FCC) is the leading independent clearing broker and custodian in the Canadian market. We provide trade execution, clearing, custody and back-office support services to Canadian-based brokerage firms and the Canadian brokerage arms of U.S.-based firms.

How You’ll Make an Impact :

Position Overview :

The Credit Risk Specialist is responsible for monitoring and providing credit risk analysis on Introducing Brokers (IBs) and Portfolio Managers (PMs) accounts and activities. This role ensures compliance with external regulations and internal FCC Policies and Procedures (P&Ps). These responsibilities include monitoring client accounts and approving asset movements. The incumbent is also responsible for producing regular and ad hoc reports.

Key Accountabilities :

• Review, assess, and report on client and firm account deficiencies to ensure timely resolution to account shortfalls. Execute sellouts on overdue deficient accounts or accounts that pose an imminent credit risk.
• Escalate to management potential credit risks related to specific client accounts or accounts that hold principle positions.
• Demonstrate a good understanding of IIROC rules, regulations, and conducts pertaining to client margin and cash accounts. Ensure that clients are adhering to FCC’s house policies and the Canadian regulatory rules, regulations, and guidelines.
• Review and approve client withdrawals (cheque, wire transfer and electronic fund transfer) in a timely manner. This includes reviewing accounts to ensure withdrawals will not put a client into a deficient position.
• Monitor and approve cash and securities movements in accordance with SLA’s and Credit Risk and Compliance policies.
• Review and deliver timely, accurate resolutions to internal and external client email requests pertaining to credit risk issues, asset movements, internal policies, and general inquiries.
• Foster and build relationships with introducing brokers and portfolio managers to ensure FCC’s credit and risk policies and procedures are understood, supported, and reinforced to target best practices that contribute to FCC’s risk vision.
• Complete reporting to internal stakeholders and Senior Management Team. This includes compiling and analyzing data into regular and ad-hoc reports, and dashboards.
• Keeps abreast of economic and markets developments by using Bloomberg and / or Google Finance to inform decision making and credit risk policies.

What We’re Looking For :

• Minimum 3 years’ experience in the financial services industry preferably in the brokerage industry.
• Broad understanding and experience with risk management methodologies, particularly credit risk required.
• Completion of post-secondary degree / diploma, preferably in Finance, Mathematics, Economics, or a related field - or equivalent experience.
• Completion of Conduct and Practice Handbook (CPH) and Canadian Securities Course (CSC) preferred.

Expertise You Will Bring :

• Strong knowledge of capital markets and industry regulations
• Strong Excel and VBA skills
• Demonstrated ability to organize and manage multiple tasks simultaneously
• Excellent interpersonal, verbal, and written communication skills
• Strong analytical and problem-solving skills
• Strong client service orientation
• Self-motivated, detail oriented and takes initiative