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Investment Compliance Analyst in Boston, MA at Veritude

Date Posted: 10/9/2018

Job Snapshot

Job Description

Veritude is seeking an Investment Compliance Analyst for Fidelity Investments.  This position is based in  Boston, MA.

The Investment Compliance Monitoring Group is responsible for proactively reducing the risk of trade error or compliance exceptions through time of trade and Trade date +1  monitoring of compliance with prospectus, client, regulatory, board, and other internal policy limitations.  This group also acts as a resource to Investment Professionals by providing timely and accurate advice  regarding the appropriateness of certain investments for portfolios. The group covers all product channels and extends beyond Fidelity Management and Research Company (FMRCo) managed funds and include all Fidelity International Canada (FIC), Strategic Advisers, Fidelity Institutional Asset Management (FIAM) accounts and other entities for purposes of monitoring portfolio limits. To ensure Fidelity's reputation for excellence is maintained, the individual must apply high ethical values and quality assurance standards.

The role of the Advisor – Equity Portfolio Compliance Monitoring is a high exposure role, located on the equity trading desk and is  responsible for daily monitoring of all trade activity for compliance with prospectus, regulatory and other investment guidelines applicable to portfolios.  The Portfolio Compliance Monitoring team  is a key contributor to the overall reduction of trade errors and guideline exceptions across Fidelity.

Primary Responsibilities:

  • Conduct daily time-of-trade and batch monitoring for equity portfolio investment activities relative to internal and external investment guidelines and regulatory limits. Ensure trades are in compliance with relevant portfolio limitations prior to trade execution. Respond to time-of-trade violations quickly and accurately in an effort to meet internal client expectations.
  • Review fund literature such as the prospectus and statement of additional information, as well as client guidelines to ensure compliance limits are appropriately translated into the compliance monitoring system.
  • Identify research and escalate potential compliance violations. Work with investment compliance colleagues and management to resolve issues in a timely fashion and effectively communicate with trading, portfolio management, senior management and others where appropriate.

Risk Mitigation

  • Proactive maintenance of the integrity of the Compliance rules-based system for assigned funds/accounts, and ensure updates are accurate and changes are timely. Analyze rule results to determine reasonability, accuracy, and completeness levels.  
  • Identify potential issues impacting the portfolios or gaps in department policies and procedures and escalates as appropriate.

Working Relationships/Contacts

  • Asset Management Compliance – contact with other Compliance business units is critical and occurs daily. Regular interaction re: questions/issues and clear communication are keys to success of overall compliance program.
  • Investment Professionals – day-to-day interaction with trading room personnel and portfolio managers is required to ensure that investment limits are understood and issues are resolved in an appropriate and timely manner.
  • Legal – Interact with Legal groups to address items that arise such as interpretations of rules, guidance on charters, etc.

Education Program

  • Participate in training meetings with investment professionals on the limits assigned to their funds/accounts.
  • Communicate changes to existing investment guidelines to existing investment professionals.

Other

  • Develop and maintain effective working relationships with business partners to facilitate the receipt and dissemination of information necessary for accurate completion of responsibilities. Prepare, review and analyze various scheduled and ad hoc reports.
  • Participate in and contribute to department-wide initiatives in support of individual, team and department goals.
  • Maintain files in compliance with record retention requirements.

Education and Experience

  • Bachelor's degree in finance, accounting, or economics or relevant job experience preferred
  • 5-7 years’ experience in financial services, preferably in the area of investment compliance, investment support or investment operations

Skills and Knowledge

  • Strong organizational skills with proven ability to multi-task and manage high volumes
  • Demonstrated strong analytic skills, resourcefulness, problem-solving abilities and attention to detail
  • Comfortable communicating with senior investment professionals
  • Clear understanding of equity markets
  • Excellent communication and presentation skills
  • A proven team player with good interpersonal skills and the ability to work collaboratively across functions
  • Strong PC skills including Microsoft Office applications
  • Ability to maintain professionalism in stressful situations