Fidelity Investments - Boston, MA

posted 4 months ago

Full-time - Director
Boston, MA
Securities, Commodity Contracts, and Other Financial Investments and Related Activities

About the position

Fidelity Capital Markets (FCM) is seeking a Director of Municipal Finance to enhance the growth of our co-managed negotiated business. This role is pivotal as FCM serves as the conduit to the new issue market for both individual and professional retail clients across the enterprise. The primary objective is to ensure regular and ongoing access to the market through competitive and co-managed negotiated transactions. The Director will play a crucial role in expanding our municipal finance coverage and building strong relationships with issuers, thereby ensuring that our retail investors have access to a diverse range of issuer bonds. In this position, you will act as the primary point of contact for most issuer clients, managing the Request for Proposal (RFP) process and coordinating with various internal teams, including the underwriting desk, compliance, market strategy, and other business partners. This collaboration is essential to facilitate access and engagement with the market. The Director will also be responsible for advocating retail-friendly issuance strategies, which include structuring, order periods, and priority, ensuring that the needs of retail investors are met. The role requires a strong understanding of the new issue transaction process, municipal credits, and bond structures. You will be expected to participate actively in the origination process, which includes due diligence meetings, pricing and offering statement reviews, and syndicate calls. Additionally, you will develop and deliver educational and marketing strategies that support Fidelity's various distribution channels. Managing the capital commitment procedure with guidance from underwriting, risk, and desk strategists will also be part of your responsibilities, as you prepare reports for FCM's Capital Commitment Committee. The position demands excellent communication skills, with a proven ability to present effectively and write clearly. You will represent the department at relevant industry conferences and may be required to travel up to 30% of the time. Candidates should possess the Series 7, 63, and 52 licenses, with the possibility of needing to secure the Series 53 and/or 24 licenses as well.

Responsibilities

  • Serve as the primary point of contact for issuer clients.
  • Manage the RFP process for municipal finance transactions.
  • Coordinate with underwriting desk, compliance, and market strategy teams.
  • Advocate for retail-friendly issuance strategies.
  • Participate in the origination process including due diligence meetings and syndicate calls.
  • Develop and deliver education and marketing strategies for distribution channels.
  • Manage capital commitment procedures and prepare reports for the Capital Commitment Committee.
  • Attend industry conferences on behalf of the department.

Requirements

  • Undergraduate degree or equivalent work experience required; advanced degree is a plus.
  • Minimum of 5+ years of experience in public finance.
  • Experience with issuer coverage and the new issue transaction process.
  • Strong understanding of municipal credits and bond structures.
  • Ability to manage and respond to RFPs and similar procurement requirements.
  • Proven ability to collaborate with internal partners such as underwriting, trading, and compliance.
  • Comfortable participating in the origination process and related meetings.
  • Strong communication skills, both written and verbal.

Nice-to-haves

  • Experience in developing marketing strategies for financial products.
  • Familiarity with retail investor needs and preferences.

Benefits

  • Flexible benefits that support employees through every stage of their career.
  • Opportunities for learning and career development.
  • Recognition as a top 10 Best Place to Work in 2024 by Glassdoor.
  • Hybrid working model that balances onsite and offsite work.
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