Institutional Support Representative II at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

NoVisa

Banking, Capital Markets, SecuritiesIndustries

Requirements

Undergraduate degree or equivalent experience
Securities Industry Essential (SIE) certification
Knowledge of securities laws and regulations, including Regulation T, 15c3, 15C6-1, 15C6-2 of the Securities Exchange Act of 1934, AML policy, and Beneficial Ownership rules
Experience with operational aspects of brokerage, including customer onboarding, trading, settlement, maintenance, and cashiering processes
Familiarity with platforms such as Fifth Third Money Market Navigator, NFS/Pershing, ACE, Wealthscape, and NetX360
Ability to work under minimal supervision and manage risks within the bank's risk appetite
Position not available for immigration sponsorship

Responsibilities

Serve as front line support between management and other lines of business, including Middle Office, Compliance, IT, Trading, Accounting, Fifth Third Securities’ Broker Dealer, NFS/Pershing, and third-party vendors
Adhere to all pertinent securities laws, regulations, policies, and procedures
Work with line of business, NFS, and client custodians to meet DVP/RVP settlement obligations and resolve trade concerns
Monitor and assist with timely allocation, affirmation, and issues ID confirmations
Oversee and administer operational functions within the Fifth Third Money Market Navigator platform
Accurately code new brokerage account client relationship profiles for books and records
Perform client CIP checks per AML policy and Beneficial Ownership rules, inputting documentation into Bank (ACE) and NFS/Pershing systems
Handle account maintenance, including intermediary for prime brokerage account coding and requesting forms
Process, review, and monitor high dollar asset and money movements, following up with custodians
Manage collateral process for institutional brokerage, ensuring proper coding, archiving, and release approvals
Establish, maintain, and audit firm and individual representative brokerage entitlements
Enter trade orders for fixed income, stocks, and mutual funds through NFS/Pershing platforms as needed
Process institutional brokerage trade corrections for equity trades
Produce daily reports and monitor account activities for trade settlement, margin, risk exposure, and clearing discrepancies
Assist with compliance-related issues for fixed income products and internal/external audits
Provide training and guidance to junior level staff
Perform other duties as assigned

Skills

Fixed Income

Equity Trading

Trade Settlement

Customer Onboarding

Cashiering

Middle Office

Regulatory Compliance

DVP Settlement

RVP Settlement

Regulation T

Securities Operations

Broker Dealer

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

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