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Title:  Associate Director / Director - STIR / Repo Trader

                                                                                                               

 

 

Requisition ID: 108357  

Cost Centre: NEW YORK AGENCY GENERAL 

We are committed to investing in our employees and helping you continue your career at Scotiabank. 

 

Associate Director / Director – STIR / Repo Trader


Purpose:    
Based in New York and reporting to Desk Head of CMF, the candidate will be responsible for Short Term Interest Rate market making, managing client secured funding requirements, in addition to working within the broader Collateral Management and Funding mandate to support GBM.

Major Accountabilities:
•    Act as primary market maker for front end cash, derivative, and term repo markets in the US while achieving P&L targets for the desk.
•    Responsible for market-making via Secured Funding Transactions and working with internal sales team to develop customer order flow.
•    Proficient trading knowledge of FX swaps, OIS, interest rate and bond futures.
•    Trade and manage overall interest rate risk from client market making activity.
•    Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day trading decisions.
•    Maintain all client front end trading and financing relationships. 
•    Expand FICC Sponsored Repo and bi-lateral netting opportunities with new and existing clients.
•    Work closely with all trading desks within Global Banking and Markets to provide secured funding to maximize trading revenues while reducing WSF and balance sheet utilization.
•    Manage desk shorts and long inventories through secured funding transactions in an efficient and cost-effective manner.
•    Work with sales teams to develop trade ideas and strategies to maximize liquidity and client profitability.
•    Develop cross-market operating procedures to improve efficiencies and maximize trading opportunities.
•    Continuously improve methods and processes to enhance profitability and/or mitigate trading risks.
•    Effectively communicate with the various trading groups and divisions within the bank.


Education/Work Experience/Designations:
Academic: 

•    Ideal candidate will possess a relevant bachelor’s degree (Commerce, Economics, Mathematics or related discipline) or equivalent qualification.
•    MBA or CFA an asset.


Functional Competencies:
•    3-5 years of in-depth market making experience.
•    Strong understanding of USD short term rates environment to manage risk faced from market making.
•    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.
•    Adaptable with the ability to manage projects independently, while working in a team environment.


•    Ability to meet the challenges presented by a fast paced, constantly changing work environment.
•    Strong financial and computer literacy skills. High competency in Excel, Access and PowerPoint.  
•    Ability to multitask, excellent problem resolution and time management skills.
•    Strong oral and written communication skills.  Ability to communicate effectively to various groups including back-office, mid-office, and sales.
•    Strong business focus with multi-tasking capabilities in a fast moving and challenging environment


Behavioural competencies:
•    A high level of attention to detail. 
•    An independent, self-starter.
•    High professional standards.
•    A strong sense of personal integrity.
•    A high level of energy and a keen desire to learn new concepts.
•    An independent and creative thinker and proven ability to make decisions and generate ideas.
•    Strong strategic thinking and influencing skills.
•    Customer focused and results oriented. 

Regulatory Requirements:
•    Series 7 & 63 required, Series 24 an asset.
•    This role requires successful completion of the National Futures Association’s Swaps Proficiency Requirement (SPR), prior to engaging in in-scope activity.
 

 

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. If you require technical assistance, please click here. 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.


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