Associate Director, US Repo Trader

 

 

 

Requisition ID: 204216

 Salary Range: 225,000.00 - 225,000.00 

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

 

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

 

Title: Associate Director, US Repo Trader – New York, NY 

Global Banking and Markets 
Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world. 

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.  

Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries!  We work together to drive ambition for every future! 

 

Purpose: Based in New York and reporting to Desk Head of Repo desk, the candidate will be responsible for trading the UST repo book across Specials and GC. The candidate will be responsible for interest rate risk, pricing client activity, providing views and commentary to clients, managing internal collateral and training junior members of the team. To succeed in this role, the candidate requires an in-depth knowledge of repo markets, short end bond markets and global central bank policies.  

What You’ll Do 

• Pricing client UST repo activity across GC and Specials
• Hedging interest rate risks 
• Generating trade ideas within financing, bills, bond-basis and interest rates markets
• Managing market risk and PnL, communicating to management teams  
• Working closely with sales teams to develop client business and understanding holistic client relationships 
• Proficient knowledge of bills, short coupons and bond basis markets 
• Knowledge of FX swaps markets is a benefit. 
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day trading.
• Continue to grow the business with an understanding of the changing regulatory environment. 
• Work closely with all trading desks within Global Banking and Markets 
• Continuously improve methods and processes to enhance profitability and/or mitigate trading risks
• Effectively communicate with the various trading groups and divisions within the bank.

What You’ll Bring 

• Ideal candidate will possess a relevant bachelor’s degree (Commerce, Economics, Mathematics or related discipline) or equivalent qualification.
• 3+ years of experience of working in US Repo    
• Strong understanding of USD short term rates environment
• Ability to work well under pressure and tight deadlines, have the aptitude to synthesize large amounts of information and develop innovative solutions.  
• Strong quantitative and analytical skills.
• Strong financial and computer literacy skills. 
• Strong oral and written communication skills.  Ability to communicate effectively to various groups including back-office, mid-office, and sales.
• Series 7 & 63 required, Series 24 an asset.

 

Interested? 

At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture. 

 

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