Head of Fixed Income Operations (VN3103)

Rex Technologies GmbH; New York (NY); On-site; USD 140,000 - 210,000; Full time

Job summary

Marex is seeking a senior leader for Fixed Income Operations in the US, overseeing the full life cycle of fixed income trades. You will supervise an outsourced team and ensure robust controls, reporting, and compliance with industry regulations.

You will collaborate with Front Office and internal stakeholders to drive efficiency and risk mitigation, including supervising brokers and vendors like Broadridge and Pershing NetX360.

Qualifications

• Leads and develops Fixed Income Operations teams.
• Interacts with senior management and regulators.
• Documents procedures and internal controls.
• Builds relationships and influences across teams.
• Collaborates strategically to improve operational effectiveness.

Responsibilities

• Manage and develop Fixed Income Operations team and supervise outsourced Operations Team (Broadridge).
• Work with Front Office to establish best practices and gain efficiencies.
• Review resolution of customer unaffirmed trades, street-side breaks, and failed trades.
• Monitor Regulatory Trade Reporting for all Fixed income trades (TRACE).
• Onboard new business streams and vendors in collaboration with internal stakeholders.
• Escalate and resolve issues across life-cycle events (Corporate Actions, Settlements, Fails).
• Adhere to control framework and regulatory requirements (SEC, FINRA, NFA, CFTC).
• Model integrity and compliance with Marex Code of Conduct.

Skills

Leadership

Regulatory awareness

Communication

Procedures & controls

Strategic thinking

Tools

Pershing NetX360

Broadridge BPS

Bloomberg TOMS

FINRA TRACE

Job description

About Marex

Marex Group plc (NASDAQ: MRX) is a diversified global financial services platform providing essential liquidity, market access and infrastructure services to clients across energy, commodities and financial markets. The group provides comprehensive breadth and depth of coverage across four core services: clearing, agency and execution, market making, and hedging and investment solutions. It has a leading franchise in many major metals, energy and agricultural products, with access to 60 exchanges. The group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers. With more than 40 offices worldwide, the group has over 2,300 employees across Europe, Asia and the Americas.

For more information visit https://www.marex.com/

Marex has unique access across markets with significant share globally both on and off exchange. The depth of knowledge amongst its teams and divisions provides its customers with clear advantage, and its technology-led service provides access to all major exchanges, order-flow management via screen, voice and DMA, plus award-winning data, insights, and analytics.

Operations is first and foremost a control function. As such the Fixed Income team must ensure controls are followed and always evaluated for improvement. The team consists of one manager and six staff. While everyone has a daily focus, the expectation is to be cross trained as much as possible. Any single function performed within this team should have a minimum of 2-3 employees who can step in and comfortably complete the task(s).

Role Summary

Fixed Income Operations supports the Credit, Rates, MBS, Repo, and Customer Clearing businesses. The Fixed Income business is well established in both the US Rates and Credit markets with a growing Fixed Income PB business. The Fixed income business is supported primarily on vendor systems, with Broadridge and Pershing being the two most used for this activity.

The Marex Ops team is responsible for supporting the full life cycle events for all fixed income products traded by the various businesses. While a large portion of the daily functions have been outsourced to the Broadridge Managed Products Team, Marex is ultimately accountable for all output, and thus supervising the Broadridge team’s work is imperative.

Responsibilities

• Manage and develop Fixed Income Operations team, and supervise work performed by outsourced Operations Team (particularly Broadridge BPO)
• Work closely with the Front Office to establish best practices and gain efficiencies
• Review and assist with team’s resolution of customer unaffirmed trades, street-side breaks, and failed trades
• Monitor status of Regulatory Trade Reporting for all Fixed income trades (TRACE)
• Partners with internal stakeholders to onboard new business streams and/or vendors
• Serve as escalation point for all Fixed Income related life cycle events. (Corporate Actions, Settlements, Fails, Securities financing)
• Adhere to and propose improvements to control framework
• Review daily controls across credit and rates vendor systems. (Broadridge, BNY BDC, Pershing NetX360)
• Work with all vendors and internal parties to increase automation and strengthen control framework
• Supervise defined processes to adhere to regulatory requirements, including but not limited to Possession or Control, 17a-5, transaction reporting, and surveillance
• As a Control Owner or Manager of a Control Owner you are expected to (where relevant):
  • Be responsible for maintaining the internal control assigned to you in compliance with Sarbanes Oxley
  • Day-to-day implementation, monitoring, and verification of internal controls designed to mitigate financial reporting risks and ensure SOX compliance
  • Implement and Maintain Controls: This involves ensuring that internal controls are designed, documented, and implemented effectively to address identified financial reporting risks
  • Monitor and Test Controls: Regularly assess the effectiveness of controls through testing and monitoring to ensure they are operating as designed and remain effective over time
  • Assist with internal quarterly reporting as applicable
  • Duties include ensuring appropriate systems and controls are in place for reporting and compliance under SOX
  • Ensuring compliance with the company’s regulatory requirements under SEC, FINRA, NFA, CFTC and other applicable exchanges
• Adhere to the operational risk framework for your role ensuring that all regulatory or company determined parameters are complied with
• Role model for demonstrating highest level standards of integrity and conduct and reflecting Company Values
• At all times complying with Marex’s Code of Conduct

The Company may require you to carry out other duties from time to time

Competencies, Skills, and Experience

• Strong leadership skills with aptitude for building and developing talented teams
• Comfortable interacting with and presenting to senior management and regulators
• Ability to document procedures and controls
• Demonstrates curiosity
• Excels at building relationships, networking and influencing others
• Strategic collaborator with insight and agility, able to anticipate future challenges, ensuring operational effectiveness

Skills and Experience

• Minimum 10 years’ experience in financial services
• At least 3 years of managing a team
• Obtained the FINRA Series 99
• Experience supporting Corporate Bond lifecycle
• Experience with US treasuries cash and repo trading
• Experience with Fedwire, DTCC clearing, and international settlements
• Working knowledge of the following vendor systems strongly preferred: Pershing NetX360, Broadridge (Impact, FinPro, BPS), Bloomberg TOMS, FINRA TRACE
• High level of Broadridge BPS applications strongly encouraged
• Excellent verbal and written communication skills
• Experience working in a regulated environment and knowledge of the risk and compliance requirements associated with this

Company Values

Acting as a role model for the values of the Company:

Respect - Clients are at the heart of our business, with superior execution and superb client service the foundation of the firm. We respect our clients and always treat them fairly.

Integrity - Doing business the right way is the only way. We hold ourselves to a high ethical standard in everything we do – our clients expect this, and we demand it of ourselves.

Collaborative - We work in teams - open and direct communication and the willingness to work hard and collaboratively are the basis for effective teamwork. Working well with others is necessary for us to succeed at what we do.

Developing our People - Our people are the basis of our competitive advantage. We look to “grow our own” and make Marex the place ambitious, hardworking, talented people choose to build their careers.

Adaptable and Nimble - Our size and flexibility is an advantage. We are big enough to support our client’s various needs, and adaptable and nimble enough to respond quickly to changing conditions or requirements. A non-bureaucratic, but well controlled environment f or i nitiative as well as employee satisfaction.