Analyst, Fixed Income Middle Office - MBS Allocations

Scotiabank; New York (NY); On-site; USD 69,000 - 129,000; Full time

Job summary

Scotiabank in New York City is seeking an Analyst for the Fixed Income Middle Office focused on MBS allocations. You will allocate Agency MBS trades across GNMA, FNMA and FHLMC 15-year and 30-year coupons, and manage TBA pools and processing cycles.

The role requires strong communication, attention to detail, and the ability to coordinate with front and back office teams. FINRA NASD S99 licensing or the ability to obtain it is preferred.

Qualifications

• 2-3 year minimum of MBS TBA allocations experience.
• Excellent communication and interpersonal skills, including strong written skills.
• FINRA NASD S99 license or ability to obtain.
• Proficiency in MBSE (MBS Expert), Broadridge Impact.

Responsibilities

• Allocate Agency MBS trades across GNMA, FNMA, & FHLMC 15yr/30yr coupons.
• Allocate TBA pools, ensure pools meet delivery guidelines.
• Process Pool Changes & high-volume EPN notifications on 48-hour day.
• Strong understanding of Class A, B, C Netting & Pool Allocation processing cycle.
• Hybrid Arm TBA exposure management.
• Process Assignment of Trades (AOTs) & TBA pairoffs.
• Process New Issue RMBS & CMBS trades, and sub account allocations.
• Facilitate RTTM trade matching, netting, and FINRA Trace reporting.
• Assist the FI Middle Office team with trade input and capture of Rates, Repo, Lat-Am, DCM, CLO & ABS securities.
• Assist with Treasury bids to the Federal Reserve TAAPS system and communicate results.
• Distribute fail reports and coordinate settlement with front office teams.
• Coordinate with external clients to retrieve trade allocations and submit allocated trades.
• Perform FOBO reconciliations to ensure trades flow to back-office systems.
• Facilitate timely settlement by resolving allocation and instruction discrepancies.

Job description

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Title: Analyst, Fixed Income Middle Office - MBS Allocations

Requisition ID: 258197

Salary Range:69,400.00-129,000.00

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.

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

Contributes to the overall success of the Fixed Income Middle Office in New York and globally ensuring specific individual goals, plans, 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.

What You’ll Do

• Allocate Agency MBS trades across GNMA, FNMA, & FHLMC 15yr/30yr coupons
• Allocate Stiped TBA’s, ensure pools meet good delivery guidelines
• Process Pool Changes & high volume EPN Notification on 48hour day
• Strong understanding of Class A , B, C Netting & Pool Allocation processing cycle
• Hybrid Arm TBA exposure
• Process Assignment of Trades (AOT’s) & TBA Pairoffs
• Process New Issue RMBS & CMBS trades, and secondary trading client sub account allocations
• Facilitate RTTM trade matching, netting, and reporting to FINRA Trace
• Assist the Fixed Income Middle Office team with trade input and capture of Rates, Repo, Corporates, Lat-Am, DCM New Issue Syndicate, CLO & ABS securities.
• Assist the FI Middle Office team to submit Treasury bids to the Federal reserve TAAPS system per instructions from Trading Desk and communicate results.
• Distribute fail reports and ensure the front office sales and trading teams are aware of all fail positions, follow up on aged items to promote settlement.
• Coordinate with external clients to retrieve the trade allocations of block transactions and submit the allocated trades accordingly into the front-end risk capture systems.
• Perform front-office to back-office system (FOBO) reconciliations to ensure that all trades entered flow to the back-office system.
• Facilitate the timely settlement of trades by resolving allocation, trade detail, and instruction discrepancies with clients.

What You’ll Bring

• 2-3 Year minimum of MBS TBA Allocations/specified pools
• Excellent communication and interpersonal skills, including strong written skills
• FINRA NASD S99 License or ability to obtain
• Proficiency in MBSE (MBS Expert), Broadridge Impact

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.

What's in it for you?

Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.

Location(s): United States : New York : New York City

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know.