Operations Specialist
Asset LivingSalary not specified
Institutional Support Representative II at Fifth Third Bank
Cincinnati, Ohio, United States
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
Key technologies and capabilities for this role
Questions & Answers
Common questions about this position
Is this position remote or does it require office work?
This information is not specified in the job description.
What is the salary or compensation for this role?
This information is not specified in the job description.
What key skills or experiences are required for this Institutional Support Representative II position?
The role requires knowledge of securities laws and regulations, experience with operational processes like trading settlement, customer onboarding, AML/CIP checks, and proficiency in handling account maintenance, high-dollar asset movements, and collateral processes.
What does the company culture or work environment look like at Fifth Third Bank for this role?
The role emphasizes accountability for risk management, openly exchanging ideas, elevating concerns, following policies, and always doing the right thing for customers and colleagues to drive a positive customer experience while operating within the bank's risk appetite.
What makes a strong candidate for this Institutional Support Representative II role?
Strong candidates have experience in institutional brokerage operations, familiarity with regulations like Regulation T, 15c3, 15C6-1, and AML/CIP policies, and the ability to work under minimal supervision across trading, settlement, and client support functions.
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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