Director - Money Movement - Fidelity Institutional - Fidelity Investments - Smithfield

Job description
The successful candidate will be responsible for the development, implementation and ongoing management of FI’s money movement/banking products (including Online Banking, ICP, Remote Check Deposits, ACH, wires, journals, etc), on multiple channels for different target audiences - end customers, Advisors, Broker Dealers, etc. Product management ownership responsibilities extend from strategy, product development and deployment, project execution, product adoption/support and ongoing subject matter support.


The candidate must have strong organizational, leadership and project management skills. In addition, the position requires a professional and flexible individual who possesses analytical proficiency and strong written and oral communication skills. The position involves dealing with various levels of management and cross functional business partners (including Treasury, Operations Service Group (OSG), Legal, Risk and Compliance and must possess the ability to build and leverage strong working relationships. You will also collaborate with Fidelity Family Offices Services (FFOS), Institutional Wealth Services (IWS) & National Financial (NF) Relationship Management and Sales teams to understand client and marketplace needs that will help prioritize product requirements, and also to determine client specific-strategies. The successful candidate will be expected to establish and/ or leverage industry contacts to develop market leading products for FI and its clients and to maintain a competitive advantage over time.

The candidate must be able to work autonomously and multi-task between operational issues and project related tasks. The role will focus on leading initiatives and providing expertise for money movement banking products that meet the needs of the Correspondent Clearing, Family Office and Registered Investment Advisory marketplaces.

The candidate will be expected to perform product management activities that include product positioning, pricing, penetration, profitability, and competitive analysis. This position requires the ability to work under tight deadlines and respond quickly to client requests. The ability to communicate effectively and to work collaboratively are critical success factors.

Primary Responsibilites

Strategy and Vision
Work with the VP, Product Management to develop and communicate a comprehensive multi-year roadmap and strategy for solutions based upon a solid understanding of market, competitive, regulatory and legislative trends.
Identify opportunities, and work with various product and technology teams to implement effective money movement banking solutions that will enhance the customer experience and create a competitive advantage.
Work closely with FFOS, IWS and NF to provide analysis and recommendations on future state of products.
Foster teamwork and a spirit of collaboration among team members and business partners while conveying a sense of urgency and responsiveness to meet business needs.
Proactively resolve barriers and issues that inhibit short and long-term goals.
Present to all levels of management.
Provide banking and product expertise to support internal inquiries, customer inquiries and escalations.

Product Development- Initiation, Implementation and Roll-Out
In compliance with Fidelity Institutional Product Development methodology:
Execute initiatives that are aligned with product line strategy. Assist in the generation of idea proposals based on client feedback and analysis.
Develop and present ideas screens and business cases that are supported by strong analysis and are commercially compelling.
Plan, coordinate and manage multiple, concurrent, large scale technology initiatives though the project lifecycle including requirements, development, testing/quality assurance and production release with timely delivery; while acting as subject matter expert across business implementations.
Develop / enhance operational workflows to support various Money Movement Banking Products.
Deliver all projects on budget and on-time.
Ensure that all solutions have a proper plan for deployment, support, training and communication.

Product Management
Ensure product line is maintained according to Fidelity policy as well as regulatory, risk, legal, and compliance requirements.
Manage internal and external parties to ensure product availability and quality.
Maintain product-specific content made available to Correspondents and Advisors.
Assist in developing annual product line goals.
Understand product associated costs and track revenue and other key metrics to goal.

Product Distribution and Penetration
Focus on adoption of money movement services in conjunction with Relationship Management and Client Management.
Ensure marketplace feedback is provided to both the internal competitive analysis teams and overall platform management associates.
Comprehensively understand the market and competitive landscape for the product.
Organize approach to gather information to understand the positioning of the product versus the competition and market leaders.

Product Maintenance
Serve as SME for internal/external product inquires and functional demonstrations.
Responsible for product education including design and delivery of product training materials.
Lead technical enhancements to address product gaps or defects based on scope and complexity of work.
Work with internal stakeholders on client fit, functionality and enablement.

External Market Focus

Maintain a comprehensive understanding of the current state and trends in the industry including regulatory changes.
Present at internal conferences and senior management meetings.
Use influence skills to develop strong, positive relationships across the organization.
Develop methods to acquire, package and share product and marketplace expertise.
Attend industry conferences.

Product Positioning
Provide subject matter expertise to the team and key business partners with regards to the market and competitive landscape for the product.
Organize approach to gather information that will support the positioning of the product versus the competition.
Work closely with Relationship Management, Sales, Correspondents and Advis
ors to provide education, identify sales opportunities and communicate deployment timeframes and steps.

P&L Management / Product Measurement
Assist in developing and implementing product pricing strategies.
Track and analyze variances to pricing strategy.

Desired Skills and Experience

Education and Experience
Five or more years of banking and money movement experience with a solid understanding of payment product workflows
BA/BS required, advanced degree or certification (e.g. MBA, CFA) preferred.
Series 7 and 63 licenses will be required.
Skills and Knowledge
Strong communication, presentation and overall product management skills are essential to success.
Strong understanding of the registered investment advisors (RIAs), broker-dealers (B-Ds) and family office marketplaces.
Able to operate effectively in a dynamic and changing environment with often unstructured and/ or virtual teams.
Strong communication, presentation and product management skills are essential to success
Verbal and written skills must demonstrate command of language, clarity of thought, and orderliness of presentation.
Must be able to manage multiple priorities, meet deadlines, and deliver business results.
Demonstrated strength in interpersonal skills.
Actively collaborates with people in other parts of the organization to solve problems, access resources, and accomplish important goals.
Builds credibility and trust with diverse stakeholders that can be leveraged in future interactions.
Persuasively presents suggestions or ideas to business managers, internal or external.
Achieves influencing impact even when holding a position contrary to the majority.
Candidate should understand the inter-dependencies of various systems/products in meeting goals.
Possess a strong understanding of the rules and regulations surrounding various types of banking payment products, which include but not limited to: Funds Transfer, ACH, Wires, Checks, Debit Cards
Strong qualitative and quantitative skills

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