Associate Director, FICC Trading

The Bank Of Nova Scotia; Singapore; On-site; SGD 180,000 - 300,000; Full time

Job summary

The Bank of Nova Scotia (BNS) Singapore is a premier fixed income trading hub focusing on Government of Canada, provincial, and municipal bonds, as well as SSA products, U.S. Treasuries, and global FX flows.

You will hedge and execute client flows, manage risk, and drive trading ideas for the sales team. Based in Singapore, you will participate in a fast-paced trading floor, coordinate with global teams, and maintain strict compliance with regulations and internal controls while supporting

Qualifications

• MBA or undergraduate degree with a strong academic record.
• Minimum 3 years in Fixed Income markets (US, UK, Singapore).
• Current Singapore MAS licenses (1B, 6A).
• Experience coordinating with global teams and regulators.

Responsibilities

• Price, execute and hedge client flows in Government of Canada/Provincial/Muni bonds.
• Price, execute and hedge client flows in SSA and USD-focused bonds; support FX and rates activities.

Skills

Risk management

Hedging

Pricing

Fixed income markets

Education

MBA or undergraduate degree

Current MAS license 1B/6A

Tools

Trading systems

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 rate linked structured products.

The day to day role will involve executing and hedging fixed income flow that originates from Asia and the trader will be directly responsible for trying to manage and mitigate risk associated with these customer transactions, to maximize returns and market share.

The primary asset classes of focus will be Government of Canada, Provincial, Canada Housing Trust and Municipal bonds. In addition to Canadian fixed income products, the overnight trader supports multi-currency SSA products, U.S. Treasuries, and Mexican government bonds. The position also provides backup coverage for FX and swap-related flows when required.

The desk requires a trader with the skills and experience to actively manage risk and respond quickly to client requests for quotes. This role is also an important part of our distribution effort, with responsibility for promoting trading axes, new issue opportunities, and market ideas to the sales team.

Going forward, we expect the successful candidate to have a reasonable client-facing presence involving regular business travel and direct interaction with clients to support business development and franchise growth.
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

• Price, execute and hedge client flows in Government of Canada/Provincial/Canhou and Muni bonds
• Price, execute and hedge client flow in SSA and Covered bonds, focused in USD but occasionally in EUR/CAD/GBP
• Execute and hedge axes on behalf of Scotia IG Credit and EM teams
• Manage and hedge relevant interest rate derivatives trading risks, as appropriate. Promote BNS interest rate products and identify and action cross-sell opportunities with clients.
• Manage and hedge relevant FX spot, forwards, swaps, options and NDF risks as appropriate in the region. Drive up trading volume during the process of expanding the FX business.
• Manage and hedge relevant short term interest rate risks and liaise with the global STIR desks to promote Bank’s products.
• Assist 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).
• Lead and drive 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 his/her 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.

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.