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GENERAL FUNCTION
This role covers a broad area of responsibilities within Institutional Brokerage Operations, supporting Capital Markets Fixed Income, Equity, Fifth Third Money Market Navigator Sales & Trading departments. Under minimal supervision, assist Fifth Third Securities Institutional Brokerage teams, Middle Office, Fixed Income Traders, Equity Traders, and sophisticated clients with all operational aspects of their business; including customer on-boarding, trading, settlement, maintenance, cashiering processes, report monitoring, and projects as required.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues and ensures that actions and behaviors drive a positive customer experience. While operating within the Banks risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
Position not available for immigration sponsorship
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Serves as front line support between management and other lines of business, including but not limited to Middle Office, Compliance, IT, Trading, Accounting; Fifth Third Securities’ Broker Dealer, National Financial Services/Pershing, and other third-party vendors.
- Adheres to all pertinent securities laws and regulations as well as established policies and procedures in an ever-changing regulatory environment.
- Works directly with the line of business, NFS and client custodians to meet contractual DVP/RVP settlement obligations and resolve outstanding trade concerns within regulatory requirements per Regulation T, 15c3, 15C6-1 and 15C6-2 of the Securities Exchange Act of 1934 and any other relevant rules.
- Monitors and assists line of business with ensuring timely allocation and affirmation of issues ID confirmations.
- Oversees and administers all operational functions within the Fifth Third Money Market Navigator platform.
- Accurately codes new brokerage account client relationship profiles for books and record keeping purposes.
- Performs client CIP checks per AML policy and Beneficial Ownership rules and accurately inputs documentation into both Bank (ACE) and NFS/Pershing systems.
- Handles all account maintenance, including acting as an intermediary for prime brokerage account coding and requesting the applicable forms.
- Processes, reviews, and monitors high dollar asset and money movements entered by or enters on behalf of the line of business to ensure accurate and timely completion along with following up with custodian through the point of release.
- Manages the collateral process for institutional brokerage ensuring paperwork is properly coded on file and obtaining/archiving proper release approval prior to release of funds.
- Establishes, maintains, and audits firm and individual representative brokerage entitlements for institutional and commercial.
- Accurately enters trade orders for fixed income, stocks, and mutual funds through the NFS/Pershing platforms on an as needed basis.
- Processes institutional brokerage trade corrections for equity trades entered through Wealthscape or NetX360.
- Produces daily reports and monitors account activities for potential concerns related to trade settlement, margin, potential risk exposure, and clearing firm discrepancies for commercial brokerage.
- Assists in compliance-related issues pertaining to fixed income products, as well as internal/external audits.
- Provides training and guidance to junior level staff.
- Perform other duties as assigned.
SUPERVISORY RESPONSIBILITIES
MINIMUM KNOWLEDGE & SKILLS REQUIRED
- Undergraduate degree or equivalent experience required.
- Securities Industry Essential (SIE), Series 7 and 63/66 required.
- 3+ years of experience in a Financial Operations role preferred.
- 3-5 years of experience working with brokerage accounts preferred.
- Prior experience with Bloomberg TOMS preferred.
- Knowledge of fixed income, equity, and mutual fund trading.
- Ability to de-escalate high impact situations using conflict resolution skills.
- Ability to work in a stressful time sensitive environment, meet deadlines with high attention to detail and multi-task with minimal to moderate supervision.
- Familiar with or having working knowledge of trading systems preferred, including web and mainframe-based systems.
- Strong problem solving and critical thinking skills in complex situations.
- Strong math and organization skills.
- Superior verbal and written communication skills.
- Proficiency in Word, Excel, and other MS products.
#LI-GM2
Institutional Support Representative II
At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.
The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.
Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at:
https://www.53.com/content/fifth-third/en/careers/benefits.html
or by consulting with your talent acquisition partner.
LOCATION -- Cincinnati, Ohio 45227
Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes – no matter how they are submitted – will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee.
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.