Intern – Counterparty Research

Job Description:

Counterparty Research & Analytics

Counterparty Research & Analytics (CRA) is an independent risk management resource within Fidelity dedicated to protecting our clients from risk of loss arising from trading and treasury relationships with financial institutions. Comprised of Credit, Quant, and Monitoring teams, CRA works extensively with Fidelity’s trading desks that trade on behalf of Fidelity advisor groups: FMRCo, Fidelity International, Fidelity Canada, FIAM, Geode and SelectCo.

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The Team: CRA Risk Monitoring

The CRA Risk Monitoring team supports, integrates, and promulgates the Approved List of Trading Counterparties to our client/stakeholders in the US, UK, and HK. The Approved List is the principal product resulting from CRA’s fundamental and quantitative research and constitutes the primary vehicle of counterparty risk prevention. Working closely with our technology teams, CRA Risk Monitoring also develops and utilizes data exploration and reporting platforms from which to measure and report on the counterparty exposures resulting from trading activity. These activities comprise the ex post facto detection and correction risk management capacity of the team. Our mandate is interpreted as follows:

• Develop processes and procedures which can be adopted within the organization to promote adoption and adherence to the credit analysts’ recommendations for the funds’ counterparties to trade execution.
• Develop reporting capacity for monitoring stakeholder exposures to counterparty risk.
• Acquire, maintain, and exploit data in support of reporting requirements.
• Design and develop systems and applications which will enable research and reporting on counterparty risk.
• Engage with stakeholders to appropriately build risk management practices which can be utilized under normal market conditions and relied upon during stress events.
• Liaise with other business and technology areas within the organization to advocate for the interests of CRA as put forth in the mandate.
• Devise strategies for achieving the above goals.
• Identify, evaluate, and direct opportunities to innovate and improve the function and the products of the group.

Responsibilities:

• Daily Exposure Monitoring: acquire and apply knowledge of risk management practices as pertains to counterparty risk management. Effectively utilize the risk monitoring platform to identify and communicate issues. Advise relevant parties as appropriate. This may include escalating risk anomalies to CRA management and, when appropriate, investigating and resolving counterparty exceptions with all trading areas, trading operations areas, technology support teams, shared services teams. Act as company subject matter expert for information on CRA operations providing consultation across business units.
• Risk Analysis: Provide risk analysis as pertains to counterparty exposure measures. Identify potential sources of operational and counterparty risk assessment error. Applies judgment in the assessment of project risks, escalates problems in a timely manner, and formulates methods for issue resolution. Research includes investigation of channels and principal inputs to the key risk measures of CRA.
• Reporting: Acquire expert knowledge of the reporting tools and data sources toward the development, production, interpretation of risk management reporting. Devise ad hoc reporting as necessary to meet the needs of the business function.
• Process Building and Innovation: Translate business goals and objectives into risk action plans and initiatives. Evaluate current processes and procedures. Initiate proposals and plans for improvements. Collaborate on development efforts and follow through to implementation.
• Systems User Interface Development: contributes to the development of proprietary applications by providing requirements and user acceptance testing.
• Data Management: contributes to the maintenance and integrity of CRA proprietary data and relevant domains of common data. Must be attentive to detail and accuracy. Ensure high quality risk reporting/monitoring environment.

Qualifications:

• Currently enrolled in a degree seeking program
• Excellent interpersonal and communication skills
• Able to work independently
• Able to exercise judgment on appropriate level of involvement from others depending on issue to resolve
• Manages workflow and effectively responds to changes in requirements and priorities
• Working knowledge of standard office applications/ Microsoft Office tools
• Comfort with learning new technologies and applications for workflow, reporting, data management, data exploration
• Able to synthesize information within conceptual understanding of core function and act upon this framework to the benefit of the business function
• Detail oriented and superior organizational skills
• Candidates should be eligible to work in the UK

Certifications:

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