Associate / Associate Director, FICC Trading (APAC)

THE BANK OF NOVA SCOTIA; Singapore; On-site; SGD 150,000 - 280,000; Full time

Job summary

The Bank of Nova Scotia (BNS) Singapore acts as the regional trading hub, providing centralized client coverage and engagement for flow business, DCM activities, private placements, financing, and credit- and rates-linked structured products. The trader will execute and hedge transactions to manage risk, while engaging with clients to foster and leverage banking relationships.

The role is based in Singapore, with responsibilities spanning pricing fixed income and FX instruments, hedging

Qualifications

• MBA or undergraduate degree with established academic achievement.
• Minimum 3 years in Fixed Income markets (US, UK, Singapore).
• Current Singapore MAS (1B, 6A).
• Exposure to legal, risk, management, and regulatory issues globally and in Asia Pacific; coordinate with other global teams.
• Strong personal attributes, including enthusiasm, initiative, persistence, results driven, attention to detail, and setting high standards.
• Flexibility to meet demands inherent in a global business that operates 24 hours a day, over 5 days a week.
• Knowledge of Canadian fixed income markets an advantage.

Responsibilities

• Meet and exceed client volumes and market share metrics.
• Price fixed income cash securities from Scotiabank’s global product suite including USD and CAD denominated instruments.
• Help manage and hedge relevant interest rate derivatives trading risks (IRS, Xccy, and basis); promote Bank’s interest rate products and identify cross-sell opportunities with clients.
• Help manage and hedge relevant FX spot, forwards, swaps, options and NDFs risks as appropriate in the region; drive up trading volume during the process of expanding the FX business.
• Help manage and hedge relevant short term interest rate risks and liaise with the global STIR desks to promote Bank’s products.
• Assist with the structuring, marketing and pricing of various non-linear / exotic FICC structured solutions & FICC linked structured notes, during Asia time-zone.
• Contribute to a client-focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Understand Bank’s risk appetite and risk culture in day-to-day activities and decisions.
• Actively pursue effective and efficient operations of their respective areas in accordance with Scotiabank's Values, its Code of Conduct, and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
• Champion a high-performance environment and contributes to an inclusive work environment.
• Operate within approved risk limits and promptly escape any actual or potential breaches.

Skills

Fixed Income Trading

FX Trading

Hedging

Risk Management

Client Engagement

Market Making

Education

MBA or Undergraduate Degree

Singapore MAS Licence (1B, 6A)

Job description

Purpose

BNS Singapore acts as the regional trading hub, providing centralized, efficient client coverage and engagement for our flow business, DCM activities, private placements, financing, and credit- and rates- linked structured products. The primary role is to make markets for clients, and trade the firm’s repo, FX, STIR, rates and credit books in the region. The role will execute and hedge transactions to manage and mitigate risk associated with these customer transactions, along with managing risks associated with trading positions through a variety of hedging strategies to maximize the return to the business within approved risk appetite. At the same time, to engage with clients to foster and leverage Banking relationships.

The trader will contribute to the overall success of the FICC and GBM business regionally and globally ensuring specific individual goals, plans, and initiatives are executed / delivered in support of the team’s business strategies and objectives. Ensures all activities conducted are in compliance with governing regulations, internal policies, and procedures.

The role is based in Singapore.

Accountabilities

• Meet and exceed client volumes and market share metrics.
• Price fixed income cash securities from Scotiabank’s global product suite including but not limited to USD and CAD denominated instruments (Governments, SSAs and Corporates).
• Help manage and hedge relevant interest rate derivatives trading risks (IRS, Xccy, and basis), as appropriate. Promote BNS interest rate products and identify and action cross-sell opportunities with clients
• Help manage and hedge relevant FX spot, forwards, swaps, options and NDFs risks as appropriate in the region. Drive up trading volume during the process of expanding the FX business.
• Help manage and hedge relevant short term interest rate risks and liaise with the global STIR desks to promote Bank’s products.
• Assist with the structuring, marketing and pricing of various non-linear / exotic FICC structured solutions & FICC linked structured notes, during Asia time-zone, providing support to the client coverage teams (primarily APAC Fixed Income Sales).
• Contribute to a client-focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Actively pursue effective and efficient operations of their respective areas in accordance with Scotiabank's Values, its Code of Conduct, and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
• Champion a high-performance environment and contributes to an inclusive work environment.
• Operate within approved risk limits and promptly escape any actual or potential breaches.

Dimensions

• This role requires successful completion of the National Futures Association’s Swaps Proficiency Requirement (SPR), prior to engaging in in-scope activity.
• Operate within designated trading limits
• Operates under general guidelines, specific code of conduct, and general bank policies
• Positive contribution to overall global business
• Strong communication and interpersonal skills
• Demonstrate ability to manage multiple tasks simultaneously and excel under pressure.
• Ability to work in Singapore.
• Self-motivated, with excellent judgement and discretion.
• The role requires a thorough understanding of liability management and extensive experience in the global fixed income and foreign exchange markets. Critical skillset includes hedging, price making, and risk management.

NOTE: Partial secondment to BNS Singapore Branch will be required to enable candidate to perform bookings in the name of BNS to comply with Singapore regulations governing Securities and Futures activities.

Education I Experience I Other Information (include only those that are specific to the role)

• MBA or undergraduate degree, with an established record of academic achievement.
• Minimum 3 years in Fixed Income markets primarily dealing Fixed Income (US, UK, Singapore)
• Current Singapore MAS (1B, 6A)
• Will have exposure to legal, risk, management, and regulatory issues both globally and in Asia Pacific; will be required to coordinate and connect with other global teams on a regular basis.
• Strong personal attributes, including enthusiasm, initiative, persistence, results driven, attention to detail, and setting high standards.
• Flexibility to meet demands inherent in a global business that operates 24 hours a day, over 5 days a week.
• Knowledge of Canadian fixed income markets an advantage

Working Conditions

1. Majority of time will be spent on the trading room floor.
2. High stress fast paced working environment with many deadlines.
3. Ability to multitask and deal with numerous competing demands
4. Moderate international travel, as required.
5. The transactions in which the position becomes directly involved have tight deadlines. Evening and weekend work can be regular, without prior notice, and could take place out of town. The position requires a very high degree of flexibility and cooperation, as well as occasionally accepting responsibilities outside of the defined accountabilities.