Associate/ Associate Director, Repo Trader

Scotiabank; New York (NY); On-site; USD 145,000 - 225,000; Full time

Job summary

Join a dynamic and innovative team at a leading bank in the Americas, where your expertise in trading and market analysis will contribute to a high-performing culture. As an Associate/Associate Director, Repo Trader, you will manage the UST repo book, engage in pricing client activities, and develop trade ideas in a fast-paced environment. This role offers the chance to work closely with various trading desks and grow your career in a supportive atmosphere focused on holistic well-being. If you have a strong background in finance and a passion for the markets, this opportunity is perfect for you.

Benefits

Flexible Benefit Programs

Holistic Well-being Support

Inclusive Work Environment

Qualifications

• Min 2 years of experience in relevant trading roles.
• Strong understanding of USD short term rates environment.

Responsibilities

• Pricing client UST repo and MBS Agency trades.
• Managing market risk and PnL, communicating with management.

Skills

Quantitative Skills

Analytical Skills

Communication Skills

Knowledge of UST Repo Markets

Ability to Work Under Pressure

Education

Bachelor’s Degree in Commerce, Economics, or Mathematics

Tools

Financial Software

Job description

Requisition ID: 213945

Salary Range: 145,000.00-225,000.00

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/ Associate Director, Repo Trader

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 expected to manage interest rate risk, pricing client activity, providing commentary and managing internal collateral. To succeed in this role, the candidate requires an in-depth knowledge of UST repo markets, short end US bond markets and global central bank policies.

What You’ll Do:

1. Pricing client UST repo activity across GC and specials
2. Pricing client MBS Agency trades
3. Hedging interest rate risks
4. Generating trade ideas within financing, bills, bond-basis and rates markets
5. Managing market risk and PnL, communicating to management teams
6. Working closely with sales teams to grow the client business and understanding holistic client relationships
7. Proficient knowledge of bills, short coupons and bond basis markets
8. Knowledge of global FX swaps markets is a benefit.
9. Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day trading.
10. Continue to grow the business with an understanding of the changing regulatory environment.
11. Work closely with all trading desks within Global Banking and Markets
12. Continuously improve methods and processes to enhance profitability and/or mitigate trading risks
13. 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.
• Min 2 years of experience of working in a relevant role
• 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.

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. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.